Real estate agent apartment rental
How to Use a Real Estate Agent to Find an Apartment
- 1 What Is the Typical Commission a Real Estate Agent Charges on a Rental?
- 2 Showing a Rented Apartment
- 3 Real Estate Agent Disclosures to the Rental Owner
- 4 Find an Apartment with No Credit Check
Consumers usually turn to real estate agents to help them find property to buy, but real estate agents also can help renters searching for an apartment in high-volume areas, such as New York, Chicago or San Francisco, where the rental market is competitive. Real estate agents tend to work with clients renting expensive apartments because they can charge higher fees. No matter the budget, the process of using a real estate agent to help find an apartment follows several steps.
Determine your monthly housing budget, along with a list of must-haves in an apartment. Before helping you start your search, a real estate agent will ask you how much you can spend each month so he can narrow down your choices. He will also ask about any essentials, including location, number of bedrooms and bathrooms and amenities.
Gather all pertinent information, forms and documents. Especially in competitive markets, renters who have all the proper documentation ahead of time make the agent’s job easier and may receive faster service. Documents most renters need include photo ID, recent bank statements, pay stubs, W-2 forms and an application fee.
Inquire about any finding fees. Some real estate agents or companies charge a finding fee for helping secure an apartment. These fees vary greatly, from several hundred dollars to several months’ worth of rent. Some companies do not charge any fees to use one of its agents.
Ask about any special deals. Real estate agents who help find apartments and other rentals may have direct relationships with property managers and may know about special deals or be able to negotiate better with the manager. Agents may also have inside knowledge on properties soon to be on the market and can give you a preview before anyone else has a chance to see it.
Decide how much work you want the agent to do for you. Many real estate agents who work with renters offer multiple services, including previewing properties to ensure they are a good fit before a showing and performing all negotiations with the property manager. A real estate agent can also do all the searching for you or involve you in the process, depending on your time constraints and needs.