q-aCommon questions with answers to help.

Q: How do I go about seeing a rental property?

A: The arrangements that we have with our landlords is that you must fill out an application and pay the $25 CASH application fee. We will pull credit and process your application. Once you have been approved, we can take you out to see any of the rental properties that we have in our inventory that you qualify for.

Q: How do I know what price range I should be looking in for a rental?

A: Generally, your income must be 3 times the amount of the rent. For example, if you are considering a $1000 rental, your total monthly income needs to be at lease $3000.

Q: What credit score are you looking for when you pull credit for rentals?

A: We do not use scores for rentals. We take a look at your overall credit. We are particularly interested in how you pay your bill, your judgments and your collections. If you have ever been sued by a landlord, that is an automatic turndown. You must have more good credit than bad credit. Little or no credit is acceptable if you have sufficient income and/or job stability.

Q: What about a rent-to-own property?

A: Rent-to-own and lease purchase are often confused with one another. With a rent-to-own – the landlord MAY decide to sell to the tenant in the future and the tenant MAY decide to buy sometime in the future. However, there are no promises and no guarantees.

Q: I am thinking about purchasing a home. Where do I start?

A: The best place to start is to meet with a loan officer from a mortgage company or a bank. They will be able to look at your financial situation and provide you with a pre-approval so that you will know what price range you qualify for.

Q: I know how much I am able to borrow. What is the next step?

A: All of our RE/MAX Avenues, Inc. agents are experienced realtors. Your next step is to meet with one of our agents and start narrowing down the specific qualities you are looking for, such as number of bedrooms, basement, garage, etc. We are able to do research on your behalf to see what properties meet your criteria and are in your price range.