Upfront Costs to Renting
Costs Associated with the Original Renting Process.
The following post will give you a rough outline of how much money a person should have saved in order to move into a new apartment or house? The first is always the application fee. This usually runs around $50. Secondly, assuming you are approved, you will be contacted and informed that you have so many days/hours (usually 48 hours) to come to the leasing office, sign your lease and pay the “holding” fee that will reserve the apartment/house for you until the move-in date you specified on your application. This holding fee usually runs between $200-$300, is non-refundable and acts as a guarantee for the property mgmt. company, allowing them to safely take the rental property off the market.
In most cases the holding is credited to your deposit when you actually move in. (Note: In some cases, you will have to pay this “holding” or administration fee along with the app fee when submitting the application. This is topic discussed in an earlier post). Third is the first months rent along with security deposit. This money will be due on the day you move into your new rental. App fee + holding fee + first months rent (pro-rated depending on what day of the month you choose to move in) + security deposit assigned based on you credit worthiness. From here you can do simple math to give you an idea of the amount of money it will cost to move in.
For more information check out our website- http://how2rentagain.com/
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