Find a rental by map search:
If you decide to rent a property in a condo or homeowner’s association, the shortest approval time is usually 2 weeks. It can take up to 4 in some instances, when the approvals only occur during monthly board meetings. Do not expect to find a condo to rent and move in immediately. Individually owned duplexes and apartment complexes can usually accommodate immediate move in if the unit is vacant and ready.
Landlords and Higher end condo associations generally require tenants to earn 3-times monthly rent amount for approval. 2.5 times monthly rent is acceptable in some cases, and usually for individually owned apartments.
BACKGROUND & CREDIT CHECKS
A background check, eviction history, credit score and rental history will be required for each adult 18 years an older. This is a cost paid by you the tenant. It is requested by either to the real estate agent or by a condo association during the application process. The fee ranges between $35 and $150.
If you have a dog over 25 lbs, your choices of possible rentals will be limited. There are very few condos and apartments in the eastern part of Broward which will permit dogs above 35 pounds. Renting a single family home is an option, but is always up to the owner’s discretion. Additional pet deposit will be required in most cases representing half of month or a full month’s rent.
Reasons to rent
- Flexibility.Renting allows you to explore an area before making the longer-term commitment to homeownership. Unless you are certain about a specific neighborhood, renting allows time for research and discovery.
- Career uncertainty. If you think you might need to move in the near future, or are mulling job changes that span several areas of town or are located elsewhere in the country, you might want to rent. Buying ties you down to a greater extent.
- Income uncertainty. If you expect a pay hike or cut in the near future, that can change your borrowing ability as well as impact your ability to pay a mortgage.
- Bad credit. Creating a history of on-time rental payments can help you build the sort of credit you’ll need to qualify for a mortgage.
- No maintenance expenses. When a pipe leaks, you don’t head to the store; you head for the telephone and call the landlord.
- Utilities (sometimes) included. In some instances, the landlord may pay for many utilities such as water, sewer, garbage, and, in some cases, even heat and hot water.
Knowing where homeownership fits into your larger financial plan is important. Ask yourself: Would I need to make changes in my budget to buy a home? Would it mean stretching to my financial limits? Would owning allow me to still maintain my other savings goals (such as contribution to my retirement fund) and stay prepared for potential costly home emergencies such as a new roof or heating/cooling system?Renting has both advantages and disadvantages. For example, renting may provide you with more leftover cash each month, if your rent is less than a mortgage payment, and renters get to call the landlord to fix the leaky faucet. On the other hand, renters may not be allowed to make any changes to their living space and are often subjected to rent increases over time.
Owning a home may provide you with income tax benefits (though it’s important to check with your tax advisor to see how owning would impact your personal situation). Owning a home also offers you the chance to increase your personal wealth as you pay off the principal on your loan over time and build what is known as equity. Equity is the difference between the market value of the home and the outstanding balance of the mortgage loan(s) on the home. Of course, home values can rise or fall over time, so building equity is not guaranteed. And there are significant upfront costs associated with buying, including down payment and closing costs.
Want to estimate what you would pay each month? Use our mortgage payment calculator
Owning a home is a financial commitment that requires you to plan ahead, reflecting on where your life is headed and what you want to accomplish along the way. Ask yourself: What additional financial goals would I like to accomplish as I make payments on a home loan? What’s more important to me: the opportunity to build equity over time or to perhaps have more cash available now?
Renting usually makes it easier to relocate (to pursue a job opportunity, for example). And if your rent is less than a mortgage payment, renting could allow you to contribute more toward specific savings goals, such as retirement, college, future travel, investments or even putting away money for a down payment for a home in the future.
Owning a home could make sense for you if you want to put your monthly living costs toward something you could eventually pay off and own outright. In addition, it also makes sense if you plan to stay in the area and prefer to feel settled in a home that reflects your personal tastes.
Only you can decide whether owning a home fits your life.
First, last and Security will be required in most cases. Pet, if any.
Lease Term: One year for Residential
Rental Insurance: Required
Walk thru: make sure to take pics of the condition of the property, this is most important for follow up with the Landlord and to be reimbursed of your deposit at the end of the Lease period.