When you are a renter looking for a home the hardest part about getting started is finding an agent that will help you and finding those available homes. Agents in San Antonio know that home rentals do not yield much for them in regards to commission for bringing a renter to the property. Many see it as a waist of their valuable time to do a transaction that may end up losing money. In the end, if it is not their listing, they may not call you back. The best way it start by looking at the public sites, such as Trulia or Zillow to see what is listed and calling the list agent directly. Before you start calling you want to make sure you can answer these questions:
- When I need to be moving in by?
- What area of town I need to be in?
- My price range?
- Number of bedroom/bathroom needed?
- Any pets?
These are the main questions you should know so not only do you find a home that meets your needs, but shows the agent you are talking to that you are serious and worth working with. When calling on the listings from Zillow or Trulia be aware, it is possible that they could have just rented. Rentals in San Antonio move fairly quickly, especially if they are well kept. If rented ask the agent if he could search for others available in that area, they have the most up-to-date list and can help shorten the time on your search.
Once you find the home you want to rent you will need to fill out an application. REALTORS have the application and can help you in filling them out. There are additional documents that you will need to provide when submitting an application. You will need to have:
- Application fee – each is a different price but all require the fee to be in a money order or certified check
- Pay-stubs – Make sure to have about 2 months’ work
- Photo ID – Have a copy of your photo ID or driver’s license
- Picture of any pets that you may have
These are the main documents that you will need to have. In Texas, everyone over 18 years old and living in the home will have to submit an application. The criteria on qualification will differ from between property managers so ask you agent to about the standards for that property. Remember to be honest, application fees are non-refundable and don’t want to waste it if you think you are going to have an issue.
Now that we have looked at the point of view of the renter, the other end is the landlord or owner of the home. Home ownership is one of the biggest investments that one has and it can be scary to rent it out. In dealing with owners who are wanting to list their property for rent, the big issue is finding a tenant who will treat the property right. Stories of how renters do not take care of the home or are always causing problems has been a topic for a long time. Recently I helped a client who previously had a renter who not only didn't pay rent, but also caused a considerable amount of damage to the property. In the end, it was a cost of nearly $3,000 between lost rent and repairs.
When asked if he did an application or background check on tenant he said no. “It was someone that heard about my place and said I wanted to rent quickly” – said the owner. Also asked, “did you collect security deposit”, he said yes but only $300. We sat down and talked about how the process works when listing with a company to help in finding a renter. A listing company will advertise and market your property so it reaches everyone who is looking to find a property. In doing so they will save an owner on the time they spend on the phone filtering calls and showing the property.
Hope I was able to provide some valuable information in renting and that whether your a future renter or landlord you will feel prepared for the process.
Written by,
Travis Reed, Associate Broker for River Valley Real Estate
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