STEPS TO RENTING A HOME

BEFORE YOU HIRE A REALTOR®

• Review your own pros and cons of renting an apartment vs a private residence
• Narrow down your rental location(s) ie, by county, city, zip code or neighborhoods. 
• Make sure you have the required funding for your lease
• Interview and hire a REALTOR ® that is knowledgeable and services your area of choice.
  Text RENT to (240) 284-4114 to start your rental process

BASIC QUALIFYING TERMS FOR LEASES

• Credit Score: 680 [Ask me about an alternative option]
• Income Requirements: Household income must be at least 3 times the rent
• Security Deposit: The amount is usually the same amount as first month's rent
  (Certified Check)
• Move In Month's Rent: Prorated (Certified Check)
• Application Fee: $50 per applicant
• Application Requirements: Everyone over the age of 18 must submit an application
  and be placed on the lease
• Pets: If pets are allowed, they are on a case by case with a pet deposit
• Renter's Insurance: You will have to have renter's coverage of your belongings
• Lease Terms: Typically, leases are for 12 months
• Tenant Responsibilities: All utilities, lawn care if there is grass, replacing filters in furnace
• and batteries in smoke detectors
• Application Documentation: Two most recent paystubs or offer letter if recently transferred,
  driver's license, application (type depends on the method of listing agent)
• Fee for Tenant Representation: The owner pays the tenant representation fee. However, I charge an
  additional $250 for tenant representation due at lease signing payable to my office.

HOW TO CALCULATE THE REQUIRED INCOME FOR A LEASE

Use this formula to calculate the yearly gross income, you will need to qualify for the lease.

1. Monthly rental amount x  3 = Monthly gross income
2. Monthly gross income x 12 = Yearly gross income 

REQUIRED FUNDS TO LEASE (Based on 1 applicant)