RENTER GUIDE

The Team Louisa Edge

The options are countless and time is of the essence in this high-demand market. Let a professional such as Louisa lead you through the process and help you make it an enjoyable experience.

Louisa will listen to your needs, review all the options, and then show you the best of what is out there. She will prepare you in advance for all possibilities and make sure that you don’t miss out on any opportunity to rent the perfect home.

What to Bring

  • Proof of income
  • Employer verification letter – on company letterhead, signed by supervisor stating
    1. Salary
    2. Guaranteed bonus
    3. Title
    4. Start date
    5. Housing allowance, if any
  • Most recent paycheck stubs
  • Last two year’s tax returns
  • Copy of driver’s license or passport
  • Credit application information showing names, phone numbers, addresses of
    1. Employer
    2. Previous landlords
    3. Guarantor
  • Most recent bank statement and stock portfolio statement, if any
  • Money
    1. First month’s rent
    2. Security deposit
    3. Application fees ($25 – $50)
    4. Brokerage fee, if any

Rent and security deposit are due, usually in the form of two certified checks, on the business day following home selection. If you do not have an account established here, you may choose to bring traveler’s checks or arrange to have funds wired to an appropriate account here in the Bay Area.

Financial Qualification

Most landlords require that your monthly gross be three times the amount of monthly rent. Outstanding loans, assets liquidation, credit and rental history are also taken into consideration.

Guarantors

If you do not meet the financial requirements of the landlord, you may be required to obtain a lease guarantor. The guarantor must be financially able and qualified to pay your rent as well as comfortably carry his or her financial responsibilities in case you default on the lease.

If you are being relocated by your company and need a guarantor, you should check with human resources to see if the company will provide one. They often do.

Credit Check

An application fee ranges between $25-50 and will cover the cost of your credit check. A good credit rating should have no delinquent or collection accounts, over 60% available credit and no substantial amount of debt. Some landlords are more flexible than others when it comes to credit.

International

If you are a first time renter in California and do not have a credit history in the U.S., landlords might require an extra security deposit, a guarantor or rent paid up front.

Consult Louisa for additional advice. Procedures and requirements may vary from one home to another. Louisa will make sure to guide you through the best possible options.

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