Renter’s Guide
Preparation
Speak with your Real Estate Agent about what you require of a home and a neighborhood.
Defining the price range, size of apartment, and building amenities will give your agent a good starting place for your search, but flexibility in any of these areas will increase your chances of locating a well chosen home.
You homefinding trip should not be scheduled any earlier that 8 weeks prior to your desired lease start date. The Boston rental market cycle operates on a 30-60 day cycle and should you visit earlier, it is unlikely that many apartments with your desired move-in date will be available to be seen.
Please view the Landlord Requirements section for a list of items you will need to bring with you on your homefinding visit.
Working With Your Agent
Fully disclose your financial situation to the agent. They will guide
you to the apartments that best fit your parameters, thereby reducing
the time it takes to obtain a lease.
You Home Finding Visit
Your agent will meet you at your pre-determined location to assist with
viewing properties matching your parameters. It often happens that the
perfect apartment is found on the first day, however if it is not, your
agent will take the knowledge gained from the day and apply it to the
next days search. It is imperative that you be honest with your agent
and openly express to them your likes and dislikes. This will allow
them to help locate your new home in the shortest amount of time.
The best time to view properties is Monday – Friday, 9am to 6pm.
Many of the rental listings in Boston are shared with many different brokerage firms, meaning that one agent has the ability to show you everything.
Before you view property, you will be asked to sign Warren Real Estate Group’s Commission Agreement. The signing of this agreement is recommended by the Department of State and protects both you and the agent.
Application, Lease, and Checks
Throughout all the changes in the Boston real estate market, one thing
remains the same: once you have found the apartment you want, it is
best to act immediately. If you have prepared the documents listing in
the “Landlord Requirements” section, then you are ready for the
application process.
The application process is as varied as the landlords themselves. Most frequently you will be asked to complete an application, which together with your letter of employment, previous landlord reference and credit report (run either by Warren Real Estate Group or the landlord) will be submitted to the prospective landlord for approval. Usually there is an application fee that can range from $25-100. Upon landlord approval, your agent will schedule a lease signing at which you will be required to provide all or a combination of first month’s rent, last month’s rent security, and the brokerage commission.
Remember that in most circumstances a personal check will not be accepted for these fees.
Read the lease and any attached riders in their entirety. Your agent can help define anything that is not clear to you.
Move In Day
Your new landlord will determine how your copy of the lease and keys will be relayed to you.
Speak to your agent or superintendent regarding the move in policies of your building. Routinely an appointment is required.
Landlord Requirement of Prospective Tenants
Prospective tenants may be required to submit numerous items to prove financial ability. As a general rule, landlords require that the prospective tenant have an annual income equal to 40-50 times the monthly rent, a good credit history, and a previous landlord reference. (Depending on the landlord, combined incomes for roommates or couples may be used.)
The Following is a List of Regularly Required Information:
Letter of Employment
Usually a brief statement on employer’s letterhead of annual salary, bonus, position held, and start date. International customers will also want to have included the number of years, if any they worked for their current employer.Letter from Current Landlord
Should reference length of tenancy and history of paying rent on time. If you cannot obtain a letter, bring the previous landlord’s name, address, and phone number.Good Credit
If your credit is not in good standing or you have no US credit history, you may require a guarantor.Personal Identification
A Passport or Driver’s LicenseIn addition to the above list, it is essential that you prepare the necessary funds before arriving for your home-finding trip. Landlords do not usually accept personal or out-of-state checks. We suggest bringing funds equal to one month’s rent and a month’s security deposit in the form of traveler’s checks or certified checks from a bank.
The brokerage commission, as stated in the commission agreement, is agreed to be paid at the time of lease signing. Payment can be made in the form of personal check, travelers check, money order or wire transfer.
If you have questions regarding meeting these requirements, speak to your agent or relocation counselor about the possible use of a guarantor.
What is a Guarantor?
Because many prospective tenants, especially young professionals or students, do not meet the requirements of some Boston landlords, the use of a guarantor is often employed. A guarantor is an individual that can co-sign the lease. Guarantors should earn in excess of 80 times the monthly rent in annual income. Guarantors from Boston are best but most property owners will accept anyone within the United States.Remember that in most circumstances a personal check will not be accepted for these fees.
Read the lease and any attached riders in their entirety. Your agent can help define anything that is not clear to you.
Building Terms
Brownstones and Townhouses are usually 4-6 stories and are either single-family homes or have been converted into multiple apartments (usually one per floor). Generally, these buildings offer a lot of charm with wood moldings, fireplaces and outdoor space, however rarely doormen.
Modern Buildings are generally built from the 1980’s through the present. They are mainly hi-rises with door attendants and/or concierge services. Many will house a health club and/or pool within the building.
Loft Apartments are usually large open spaces with high ceilings and big windows. They are predominantly located in the downtown neighborhoods and seldom have door attendants. However, many new loft developments are being built in classicly residential neighborhoods including even some suburbs.
Walk-up buildings are no more than six stories and have no elevator and no door attendant. They were originally constructed as multi-family housing. As one can imagine, the higher the floor – the less expensive the apartment.
Pre-War Buildings are those built before World War II. These buildings tend to be less than twenty stories and are recognized for features such as larger rooms and/or windows, hardwood floors and high ceilings. These can be doormen or non-doormen.
Post War are larger building than Pre-War, built between the 1950’s through the 1970’s. Most will have doormen. They can be found on most city blocks constructed of white, red or brown brick.
Studios are one or two rooms combining a living room and sleeping area. The kitchen may be within the same room or separate.
Alcove Studio (or L-Shaped) is a one or two room studio with a separate alcove, which can be used as a sleeping area or “walled off” to form a bedroom.
Duplex or Triplex are apartments with two or three floors respectively.
Loft Area or Mezzanine is and additional space created in apartments with very high ceilings. The loft area is usually constructed above the living room, accessible by a staircase or ladder and typically used for storage or sleeping space.
