Mr. Chaddles' Real Estate FAQ

Rental FAQ

Understanding Provable Income and Credit:
-What is provable income?
Pay 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?
The 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 apartment.

Inquiring about a Property:

-Where can I find your phone #?
As of right now, we only take apartment inquiries through email. This keeps us more readily available by phone to current and past clientele.

-What type 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 away.

-How come I haven't received a response to my inquiry?
We 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 on a daily basis 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.

-What is a professionally communicated inquiry?
A professionally communicated inquiry is an inquiry that introduces the prospective renter with their name and the property their inquiring about. The prospective renter doesn't come across as uninformed, they read the ad and already know the qualifications, the move-in date time frame allowed, the amount to move-in, general property details, etc.

Applying for a Property:

-How much money is needed and when do I need to have it by?
The 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.

-How long 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?
A 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?

If 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.

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