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Agents! Let your RENTER/Buyers KNOW that They Need a Verification of Rent
Many of the steps for a first-time or prior homeowner are the stricter requirements for renter buyers to have their landlord(property manager) provide a Verification of Rent.
Over the years, I have formulated a policy on providing these verifications....
FIRST, I charge a $50 forms fee for this process...either the tenant brings me a check OR the mortgage company provides me a check and THEN I will provide the verification VIA e-mail to both the LENDER and the TENANT.
SECOND, I do NOT provide a VoR MORE THAN than 60 days BEFORE the end of the tenants' current lease UNLESS the purchaset is new construction being built; OR there is a replacement tenant in place to take over the balance of their current lease.
WHY WOULD I HELP A RESIDENT MOVE AND BREAK THEIR LEASE?

If there is no replacement tenant in place FOR THE PROTECTION OF MY CLIENT/the property owner, why would I agree to providing a VoR?
Few real estate agents and tenants actually realize that this is NOT a requirement in state landlord-tenant laws NOR is it a requirement in any lease form I have ever seen....most landlords provide this as a COURTESY to their tenants; however, ... more

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