Renting Could Be More Difficult Than Buying Your Fort Worth Dream Home
Relocating to a new town, career change or moving out of a parents home are a few reasons many of my recent clients are shopping for rentals in the Fort Worth area. Little do they know, the process of renting could be more difficult than buying a home in our market this summer.
Leasing options include condos, new three story apartment complexes with all the amenities as well as single family homes in nice subdivisions. No matter if your searching for a quite neighborhood or a property in the culture district you may be surprised at the monthly rent you will pay and the requirements for being approved for that rental property.
Most homes that are available for lease have the same perquisite applicants must satisfy before being considered as a qualified tenant. Yes, there is competition for that cute property you looked at earlier.
Common requirements you should be aware of before considering leasing a home in the the DFW and surrounding area would include the following:
* First there is a minimum application fee of $30 - $50 per person 18 years and older.
* Second most important, combined income MUST equal three times the monthly rent.
* Properties that do allow pets will require a pet deposit that is usually non-refundable.
* Many homeowners that have their home listed with a leasing company now require two year leases.
These are common requirements that I have found to be most important. Your credit history is very important, you may need to explain any recent credit challenges.
Many clients decide to speak with one of our lenders after viewing a few homes and considering the credit requirements as well as how much money it will cost to actually get in a lease. If your on the fence about your next move call me to discuss your options.