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Renting - What
To Expect
So now your home is ready to
rent and
you are ready to list your home in the MLS with our flat rate MLS rental listing
company. Now what happens?
To Read our "Getting
Ready To Rent Guide":
The Listing
Process:
Once we receive your
listing web submission through our web site we will place your
home for rent in in the MLS system
usually the same business day!
Realtors® may begin to call you the
very same day your home is listed in the
MLS. This is because the
MLS system is instantaneous and since Realtors® have the ability to store their
renters criteria in
the MLS, they can start calling immediately.
You may set up appointments
to view your
home directly with Realtors®.
There is no
need to call us when setting up appointment times.
There are a few things that you should
keep in mind when dealing
directly with real estate agents showing your house.
-
In
general, the less you say, the better. It is sometimes difficult, if
not impossible, to keep from offering opinions or information that you
think makes the house more appealing. However, it is usually hard to
guess the factors that are important to each potential renter.
Here are some examples of everyday subjects we recommend staying away
from and why.
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How many children there are in the neighborhood. Even if the
renter has
children, you have no way of knowing whether they would like a lot
of children or none at all in the area.
-
How great your neighborhood church/synagogue is. Religion can be a touchy subject
no matter who you are speaking to!
-
How quiet the neighborhood is. They may want a more social
atmosphere.
-
The 'newness' of particular items in the home. The term
"New" is a relative term. What you consider new, may
be old to others. For example, an item that is 2 years old may
be new to someone who has lived in the house for 15 years, but it may be old to a
renter who thinks of new as anything
less than 6 months old.
-
How many showings you have had. If you have had a lot of
showings or no showings at all, potential tenants may wonder why no one else
is "jumping" at the home.
-
You may
even want to avoid talking about little things such as the beautiful birdbath in the backyard
or the flowers that bloom every month. These things could be misinterpreted.
The renter may not want bird "messes" or may be allergic
to flowers.
-
Regarding offers, if the renter is working with a real estate agent, the agent will
write up the lease offer and deliver it directly to you. Keep in mind
that any lease form can be used whether prepared by the owner or
agent, however the client of the agent may feel more comfortable using
a lease form drawn up by his/her agent.
In such an instance, however, the owner can certainly accept,
reject, or modify any conditions or terms in the lease form presented.
If the renter is not working with an agent, either you or the renter may write
the lease. Once listed with us, you will have complete access to
lease contracts and forms in our forms library.
-
Generally a
renter who is working with an agent will already have had a credit
check performed. You may ask the agent to view this report or
you may elect to run your own. You may do this through our
company or through any other company you wish.
-
Once you have accepted a
lease contract which is signed by
all parties, you will need to notify us within 2 days by sending us a
copy of the lease and a completed Under Lease form
(provided to you once listed). The Under Lease form gives us vital information we
need in order to update the status of your listing in the MLS system. Homes remain active in
the MLS until the form and your lease are received, so time
is of the essence. By law,
as your listing agency, we are required to maintain all documents
related to the renting of your home for 3 years after the lease is
signed.
This law applies regardless of who rents the house, you or an
agent.
-
Handling of
money: typically, the agent collects from the tenant a
security deposit check made out to the owner in an amount equal to one
month's rent. The check
is handed over to the owner after lease signing.
The agent simultaneously collects from the tenant a second
check, this one for the first month's rent, made out to the renting
agency which is promptly placed into the agency's escrow account.
Sometime before possession by the tenant, the agency writes a
check to the owner for 75% of the deposited amount deducting the 25%
(or whatever amount you chose) they are entitled to as compensation
for producing the tenant.
-
Walkthrough - A walkthrough form can
and should be used for the final walkthrough before possession.
The agent may or may not, or the owner may or may not, accompany the
tenant on the walkthrough before possession. Walkthrough forms
will be available in forms library once listed.
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Tenant takes
possession - Now relax and
enjoy the fact that you saved a lot of time and money by listing your
rental property in the
MLS with our flat rate listing service, Carolina Rental Express.com.
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