When it comes time to rent a home, it can become very overwhelming very quickly. Whether you are renting for the first time or the fifth time, it is crucial to know what to expect and be prepared. Nothing becomes more stressful than moving into a new home and not having enough money saved, or realizing the home is nothing like you thought it was. By breaking down every aspect of move-in from viewing the house to turning on your utilities, you will know exactly what to expect when renting a new home in Gwinnett.
Moving into a new rental home cannot be thought of and done in a day. It takes weeks of preparation on your part in order to be ready. Trying to move too soon before your move-out date, or while you do not have enough funds in savings could be detrimental for you down the line. Make sure you have your finances and other factors in order before moving forward into a new rental home.
Income and Employment
First, begin with making sure you have a steady income and source of employment. Property Managers and Owners like to see potential tenants who can hold a job and is responsible with their money. If you are in a situation where a job isn’t your source of income, (i.e., Social Security, Disability, etc.) make sure you are able to prove by bank statements, or checks, that you are able to afford the rental home in question. Typically, property managers like to see that you make 3X the monthly rent to guarantee you can live comfortably while also being able to pay consistently.
Second, ensure you have enough savings to move in somewhere new. Some rental companies charge first and last month’s rent and a security deposit, so things can get pricey fairly quickly depending on what rental property you choose. The last thing you want is to be moved in and settled, but have no money left over until your next paycheck since you emptied your savings for the security deposit and first month’s rent. This rental market is crazy right now and unfortunately, property managers and owners have less leniency with late payments. It is crucial for you, and for your lessor, to be consistent with payments by maintaining savings and a budget before you make any big decisions.
Third, have a set date to move out of your current living situation, and begin to search for new rental homes close to that move-out date. If your current lease does not end for 3 months, it might be a little early to start looking around seriously. Most rental companies are only able to hold a property for 14 days after the security deposit is paid, so make sure you are able to move in within those two weeks, or you might lose the property. Although 3 months is too early to look for a new rental, it is a good idea to browse around the market ahead of time and get an idea of the price ranges in the area you wish to move to.
When it becomes time to start viewing houses and putting in applications, there are a few things you need to get in order and consider! Viewing homes and collecting your information for applications is an essential step in getting the home you want. To ensure the process is quick and painless, make sure you have all the needed documents on hand, so you are not left searching for them when the time comes.
Viewing The Property
Make sure you see the property before applying! This is crucial; if you apply for a home and end up getting approved before you see it, there could be many issues or things you do not like about the house when you finally see it in person, that you did not see in the pictures. Also, just simply applying is not a sole guarantee that you will get the property, so paying many application fees for many properties just because can add up. Here at Real Property Management of Greater Gwinnett, it is our company policy that you view the property before we review your application, to avoid any problems like above down the line. As a rental company, we understand the urgency of needing a new home, but the importance of seeing it beforehand comes first. That way, you know what to expect when renting a new home.
Collect Your Documents
After you’ve viewed the property and are ready to apply, make sure you have all the needed documents on hand. Most rental applications will ask for a drivers’ license, pay stubs, and any information regarding your current landlord. If you don’t have these things at the time of applying, your application can still be submitted but there will be a chance you won’t even get looked at with missing information.
Having these things in order, it will make your move-in process much easier and stress-free! Be sure you have an adequate amount of savings, and all your dates in order before you apply for any new rental homes. The last thing you want is to be underprepared and miss out on your dream rental home. By following these guidelines, you will know exactly what to expect when renting a new home!
If you are looking to purchase a rental property in the Gwinnett area and need some professional management assistance, contact us today and we will be glad to guide you through the process!
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.