Making an offer
So you’ve found the perfect property to rent! You might think the battle is over, but it is far from over.
- Submitting a rental application – Think of this like a job application. You are applying to rent, and this is where you need to show off your positive attributes. This application includes the following:
- Official rental application
- Letter from employer
- Pay Stubs
- Equifax credit report
- Signing an agreement to lease – This is an agreement between the tenant, the owner, and the agent. It outlines the following:
- Names of the parties
- The property address
- The rental price and the deposit amount
- The amount of commission offered to your agent
- The closing date
- Schedules (Clauses which might include additional items or services included in the lease, special provisions, additional representation, or any conditions of lease from either the owner or the leasee.
It is the responsibility of the leasee and owner’s agent to make sure that all information presented on this agreement is accurate. When the document is finished being prepared and signed, it is then presented to the owner. The owner can either accept the “offer” or deny. Sometimes there are negotiations made between the owner, the leasee and their agents to make the conditions of lease more favorable to both parties.