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Securing Rental Housing
Once
you've decided where you want to live, securing the rental may
involve some, or all the following—
Tenant Screening - Rental Application
Information you provide to the landlord helps them determine
if you qualify to rent their property according to their standards.
While some landlords may only request references, property managers
and apartment complex management typically requires you to fill
out a comprehensive rental application.
Sample Rental Application (pdf)
Lease
The relationship
between you and your landlord is defined with a contract, typically
a lease. Leases vary from landlord to landlord,
but clauses in the lease will generally fall into one of the following
categories —
- Restatement of guaranteed legal rights
- A variation of a negotiable state or local law
- A policy or rule not covered by state/local law
In North Carolina, a lease can be in writing or a verbal agreement.
It is advisable to avoid a verbal agreements, however, if your landlord
insists on a verbal agreement, prepare a letter of understanding,
documenting basic terms of the agreement and other things you discussed
prior to moving in.
Review and understand all parts of the lease before you sign it.
If you've negotiated for things that are not written in the lease,
include an addendum documenting what you agreed to and be sure
that you and the landlord sign it.
Sample Letter of
Understanding (pdf)
Security Deposit & Fees
In addition to collecting the first month's rent, your
landlord may collect additional money prior to move-in.
Application Fee
Typically between $10-$50, this fee pays for the expense of
processing your application. This is a nonrefundable fee. Unless
stated otherwise, If you are denied housing, you do not get this
money back; if you are approved, it is not be applied to your
rent.
Security Deposit
A security deposit provides assurance to the landlord that they
will be reimbursed for possible specific losses caused by the
tenant. With a rental period greater than month-to month, a landlord
can charge up to the equivalent of 2 month's rent. At the end
of your lease term your landlord must refund your deposit within
30 days after your termination of tenancy. If the landlord refunds
part of or none of your security deposit, they must provide you
an itemized list of deductions.
Administrative Fee
Expect this fee if you plan on moving into an apartment complex.
The fee is typically $200-$300, is nonrefundable and may replace
the security deposit (although some complexes will charge both).
Pet Deposit/Pet Fee
If you have a pet, your landlord will likely charge a deposit,
fee or both. Just remember, a pet deposit is refundable (unless
your pet does a lot of damage to the rental), a pet fee is nonrefundable.
Pet Rent
Some landlords charge additional rent for your pet/s.
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