Renting process for tenant

ProJuMp2001 · #**1 Renting process for tenant** 04-18-2008, 12:46 PM

I am a new agent and I have a client that is looking for a rental.

after he finds a rent what is the process? Is this most of it.

1 Have a credit check done.
2 Attach an offer to the credit check
3 Fill out lease.

Will the landlord/agent fill out the lease with my client? or will I fill out the lease (our company lease) with my client?

SELLITNOW · #**2 Re: Renting process for tenant** 05-15-2008, 12:42 PM

Sometimes it depends on the brokerage that has the property. I have seen some companies that want to do EVERYTHING on their own . . . so they require that their company runs the credit check, writes and signs the lease

I have done a rental where the brokerage company said - Fine - you do it all, and send us copies. We will make a decision and let you know.

In general, I prefer to have my own contact run the client's credit check and have the company write the lease. That way, regarding the credit check - I can advise my client about possible problems. This lets your client still see that you are working with/for them . . . not the other company's agent. It also allows you to help them so that when they are ready to buy - they will remember you - not the property manager.

The lease - I have not really seen one where an "offer" could be made - for the most part - the price they ask is the price that its gonna rent for . . . I have actually had several agents go ape-tish with incredulity when I tried to discuss a lower rent price! It was kind of funny . . .but they were very RUDE!

Let them write the lease - they will be responsible for the terms during the occupation of the property . . . for that I only want to be in the loop as my client's back up - when/if my client gets super-pissed off or frustrated with the property manager - I can come back into the picture to help "save the day" for my client . . . especially since you hardly get paid ANYTHING for rentals . . . its more of a service than a transaction

lprest · #**3 Re: Renting process for tenant** 06-09-2008, 12:13 PM

It varies greatly. We do our own background check and we fill out the lease.

satxproperty · #**4 Re: Renting process for tenant** 06-09-2008, 08:14 PM

Around here most of times all we do is show the property, call the listing agent and tell them the prospective tenant is on the way to their office.

NY RE Broker · #**5 Re: Renting process for tenant** 06-11-2008, 07:24 PM

Well as a Property Manager and Realtor we do quite a few leases.

If I am representing the Landlord:

First; I require that any prospective tenant have a credit/background check through my office only. The reason is simple. The service I use is very in depth. They check Credit, Background, Lawsuits, Judgments, Liens, Prior Addresses, Evictions, Name Changes. They personally verify employment, prior landlords and references. This is also why I charge for it. The system allows me to approve or deny the tenant. If I deny them, we automatically send a letter.

Second: Every applicant gets a copy of their credit report that we pull regardless of whether we Approve or Deny them. We retain one in the file. We do not allow the landlord to have one due to privacy laws.

I use our software to write the lease.

If I am representing a tenant
for one of our non managed properties. I will at the landlords request, run a basic credit check and ask that the lease be written by the landlord or listing broker. If they want me to do it, there is an additional fee to the listing broker or landlord.

I also will not allow any tenant I am representing to fill out illegal applications. I have found many landlords ask, Age, Race, Marital Status, Ages of children on an application. As none of this is pertinent to the application process, it is removed from their applications. They may request this information AFTER an applicant is approved.

ProJuMp2001 · #**6 Re: Renting process for tenant** 06-26-2008, 09:27 AM

How about if I had my client call the listing office and have the listing agent show the rental for me? only because the property is 1 hour away. This would save me alot of time.

I had a credit check done in my office for my client because I wanted to know if I was wasteing my time with a person with bad credit, I would like to use that credit check so my client would not have to pay for more credit checks and get the credit pulled for each rent she is interested in. Would this be ok?

one more question,, when my client gives my office the deposit we would cut a check to the listing agent minus our co broke.. OR does my client cut a check to the listing office and they in turn cut our office a check for the co broke? can it be done both ways.

I ask these things because Iget different answers from people. I was told that the credit check is for my eyes only and I cant give a copy to my client. I found that odd,.. in that case how can I work it so my client will only have to pay for 1 credit check and use it for the properties she is interested in. maybe have her get it done one her own? or continue to do what i have been doing.. I just dont want my clients credit to be pulled more then one time and i dont want her to pay more then one time..

I know this is alot of questions and i would love if you can answer just one.

NY RE Broker · #**7 Re: Renting process for tenant** 06-26-2008, 10:48 AM

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