Demystifying the Lease Signing Process: A Step-by-Step Guide

[Jeremy Porter]

This step-by-step resource is designed to demystify the often complex world of lease agreements, providing you with a clear understanding of the process. We'll explore the importance of a simplified and transparent process, and how this guide will help you secure your dream rental. By the end, you'll feel confident and empowered as you embark on this significant step in your rental journey. Let's dive in and unravel the intricacies of lease signing, ensuring you're well-prepared to make informed decisions and secure the rental property of your dreams.

Application Process

When applying for a rental property, it's important to understand the application process and its requirements. Here are some key aspects of the application process:

1. Who needs to fill out an application? Any adult over the age of 18 will need to fill out an application and pay the non-refundable application fee.
2. Application fee and submission requirements: The application typically requires a non-refundable fee, which varies depending on the property. The submission of the application fee and all necessary documentation is crucial to initiate the application process.

Understanding these aspects of the application process will help streamline the rental application and ensure a smooth transition into your new rental property.

By providing clear guidance on who needs to fill out an application and the application fee and submission requirements, applicants can navigate the process with confidence.

Security Deposit and Rent Payment

When it comes to securing a new rental property, understanding the details of the security deposit is crucial, typically ranging from 1-3 month's rent. This deposit serves as a form of protection for any potential damages or outstanding rent at the end of the lease term.

Most of the property management companies offer various convenient payment methods to ensure a hassle-free experience for tenants. Options include online payments through credit card, debit card, or ACH (eCheck wire transfer). Additionally, tenants can make one-time payments via their tenant portal. For ACH payments, it's important to note that the funds will not immediately leave the account, so maintaining the necessary balance until the transaction is completed is essential. Furthermore, some of them also accept traditional payment methods such as personal checks, certified checks, or money orders, which can be dropped off or mailed to their office.

Property Advertising and Move-In Process

When it comes to advertising your property, property managers ensure that it gets maximum exposure. They will list your rentals on high-traffic websites such as Zillow, Trulia, Hotpads, Dwellsy, RentalSource, and more. Additionally, some of them market the properties on their website and other channels as needed to ensure full occupancy and maximum return.

As for the move-in process, they work to get you moved in according to the timeline that works best for you. Your move-in date depends on the status of the property you will be leasing. They understand that a smooth and efficient move-in process is crucial, and strive to accommodate your needs and preferences.

Whether you are looking to advertise your property or planning your move-in, property managers will guide you every step of the way.

Property Management Fees and Distributions

When it comes to property management fees, they offer various fee structures. These are designed to provide flexibility and cater to the unique needs of their clients.

As for distributions, owners typically receive their disbursements by the 12th of the following month. These distributions can be made via check or ACH, providing convenience and efficiency for their clients.

By offering transparent fee structures and timely distributions, property managers aim to ensure a seamless and rewarding experience for property owners.

Tenant Screening Process

They take a thorough approach to ensure that you get reliable and responsible tenants. The process includes requesting background checks through TransUnion, covering criminal history, eviction history, and credit reports. This helps them to make informed decisions and maintain the quality of tenants in their managed properties.

Availability for New Landlords and Rentals

Property managers understand the importance of maintaining a manageable portfolio to provide the best service to their clients. Depending on the time of year and their current capacity, they may accept new properties for management. Their goal is to ensure that they can dedicate the necessary time and attention to each property they manage. 

Showing Schedule and Lease Term

When it comes to finding a new rental property, scheduling a showing is an essential step in the process. Property managers understand the significance of this and strive to accommodate your schedule for property viewings. You can easily schedule a showing by contacting them and providing your preferred dates and times. 

Lease terms typically run for one year, but they understand that flexibility is important. Depending on the property, they may be able to work with you to accommodate different lease term durations. 

Benefits of Renting with Property Management Companies

When renting with a trusted Property Management company, you can expect a commitment to providing fair and accurate information on the condition of every property. They will prioritize addressing all requests and questions promptly and effectively, striving to exceed your expectations at every turn. The goal is to ensure a seamless and positive rental experience for all of their tenants.