Housing rental contract in next 48hrs - question

expat · 04-09-2005, 11:28 PM

Found a house we'd like to rent.

The owner is not using an agent.

Wants us to complete a standard "Application for Rental" form which requests us to provide specific details about our work contracts and salaries, bank account holdings, credit rating check approval etc.

I must say I'm rather uncomfortable (pride/privacy?) about giving this information to the owner as opposed to a bipartisan real estate broker.

Obviously if we went to an agent the rental per month will be put up (about 3% I think).

Is there any other way I can provide the landlord with the satisfaction/reassurance that we are good tenants financially, without having to give them all our details, or is this just how it goes?

Thanks,
Mark

PS we have 48hrs to get the form in!

fintstone · fintstone's Garage

Pretty much anyone who rents houses requires this information. From my experience, most agents charge 10%. The owner may passs the savings on to you...or pocket it himself since he is doing the agent's work. Optimally you split the difference.
If he owns the property, he probably has far more to lose than either you or an agent if he does something squirrley with your info.

RoninLB · 04-10-2005, 01:38 AM

my cousin runs Credit Checks on her rentals around here. I think it's $25 per.

I only rent to local yokels without security or contract.

that's a big difference. Tell the owner that you'll pay the expense

RANDY P · RANDY P's Garage

Well, the landlord is also putting up a lot of risk since they have to foot the bill if something breaks and you're in control of their property. If you want to go through the hassle of showing ther last year of cancelled checks that would work, or if they'll accept a letter from your landlord assuming it's a professional outfit that should also do.

Concerning the rest, isn't that what 1st and last and damage deposit is for?

rjp

RoninLB · 04-10-2005, 02:04 AM

Quote:

Originally posted by RANDY P

Concerning the rest, isn't that what 1st and last and damage deposit is for?

around here 2mo security when dealing with an outfit. 1/2mo security if small owner&renter.

the contract is mostly to the renters benefit if court happens. That's why I'm contract free. The local courts are usually business objective. Except when in comes to Renter vs Landord. Then if I close my eyes I could believe the court script was written in Portland Or.

turbo6bar · 04-10-2005, 05:52 AM

It is an issue of trust. If you don't trust this landlord, you need to find another property to rent. After all, this landlord has a Master key providing entry to the property.
Good luck, jurgen

pwd72s · 04-10-2005, 08:41 AM

The other side of the coin..Landlord doesn't want to rent to badasses who cook meth. If that happens here, house or apt. is legally uninhabitable until cleared by an official clean-up. Costs for that BEGIN at $14,000.

expat · 04-10-2005, 09:36 AM

Ok..thanks for the replies. I'll suck in my pride and privacy to get this house.

Cheers
Mark

Dantilla · 04-10-2005, 01:31 PM

I have rentals. Nobody moves in until we see their credit report.

And I don't do long leases. Month to month. If neighbors start complaining, you're moving out. I'm not waiting until a long lease is up.

1973911s · 04-10-2005, 02:02 PM

Mark,

It shouldn't be much differn't then if you were buying a car and getting a loan on it.

I really suggest you get a rental contract and read it. Make sure you also document the condition of the house when you move in with pictures. I have a portfolio at work of about 35,000 units and one of the biggest complaints is over not returning security deposits.

Document, Document, Document, and this is coming from an owner, not a renter.

Michael