Chaddles' Real Estate FAQ
Understanding Provable Income and Credit:
-What is provable income?
stubs, bank statements showing amount and/or deposits, and official job
offer letters. If you get paid by cash then you'll need to show
bank statements showing deposits to prove your income.
-What is considered good credit for obtaining an apartment?
score doesn't matter that much but the status of the accounts do. Most
property owners won't accept applicants with current delinquencies on
their credit report. A minor $60 utility delinquency is not considered
a big deal, but a delinquent loan or credit account is. It's best to
fix delinquent loans and credit accounts before applying for an
Inquiring about a Property:
-Where can I find your phone #?
of right now, we only take apartment inquiries through email. This
keeps us more readily available by phone to current and past clientele.
of response time should I expect?
That depends on many factors but approximately 99% of professionally communicated inquiries are
responded to within 24 hours and you very well may get a response right
-How come I haven't received a response to my inquiry?
receive too many inquiries a day to be able to respond to them all.
More than half of the inquiries are from prospective renters who
don't meet the qualifications stated in the ad. Sorting through this
mess is an art form but definitely not an exact science. With that
being said, if your inquiry is professionally communicated then your
percentage chance of a response is very good. If your inquiry is
not professionally communicated then your percentage chance of a
response is not so good.
Applying for a Property:
money is needed and when do I need to have it by?
full amount needed to rent the apartment is the
amount stated in the ad plus a small application fee per applicant.
Upon acceptance the lease signing will be set-up within a few
days and the amount due will need to be paid at the lease signing.
after I apply for a property will it take to get a decision?
This varies from property owner to management company but usually you'll get an answer within two business days.
Understanding Broker Fees:
-What is a brokers fee?
brokers fee is a fee that usually ranges from a half month to a full
months rent. This is paid if you find an apartment through a brokerage
due to the access they gave you. Access to harder to find
apartments in two to three family houses or small apartment buildings
are often controlled through brokers and usually require a brokers fee.
Luxury properties are often "No Fee" properties.
-Why should I pay a brokers fee?
you work with real estate brokers you open up your apartment options
significantly. Paying an extra half month to full month is not much
when considering you may be able to find a much better
apartment in a location that works much better for you.
Where you live is one of the most important decisions you can
make. When making such a big decision it's smart to have as many
options as possible.