Easily Replace Calculations in the Rental Application

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How to Replace Calculations in the Rental Application

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Hows it going everyone Matt Leighton and welcome back to another video. Today were talking rental application mistakes. In this video, Im going to give you 7 mistakes to avoid when you apply for your rental property. This is mostly for applying to condos, townhouses, and houses that are owned by a private owner but could also be used for applying to apartments. So with that being said, lets get started. Number one is Negotiating before Applying. When I have a rental listing, I will get so many calls and emails that say something like - Is the property still available and is the owner flexible on the rent? Okay what? You havent even seen the place but you want me to ask the owner if theyll lower the rent? Will you be applying? Do you want to set up a visit? Can we see your application to make sure you dont have a credit score of 400? The time to negotiate is when you submit the application. THeres nothing wrong with negotiating. In fact, I almost encourage it depending on the ma

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Got questions?

Below are some common questions from our customers that may provide you with the answer you're looking for. If you can't find an answer to your question, please don't hesitate to reach out to us.

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Is it my responsibility to find a replacement tenant?

No it isnt. If you signed a lease, you are free to leave at the end of the lease without having to find a new tenant for anyone.

How do I ask for a rent reduction template?

Im docHubing out to you because Id like to discuss lowering my monthly rent moving forward. I enjoy living here and would like to continue renting from you, but my financial circumstances have changed and a reduction in rent would be incredibly helpful for me.

What kind of tenants do landlords prefer?

Nothing too evasive from their side but enough to show that they are serious diligent tenants that you can feel comfortable to trust that they will pay their rent in time and look after your property. A tenant willing to pay 6 months in advance can also be considered a favourite type of tenant!

Can I leave my tenancy early if I find a replacement?

Getting permission to leave a tenancy The landlord may agree to release the tenant from the contract if a replacement tenant can be found or if the tenant agrees to cover the costs of advertising the property and listing it with an agent.

What is a suitable replacement tenant?

YOU MUST CONTINUE TO PAY ALL OF YOUR RENT UNTIL A NEW CONTRACT IS SIGNED! 2) A suitable replacement tenant is a person/s who the landlord has deemed to be acceptable after an application process has been completed. This can involve obtaining references, credit checks and a suitable guarantor.

How do you calculate daily rent rate?

It works like this: take the monthly rent and multiple it by 12 to find the total yearly rent. Then divide the sum by 365 to determine the daily rent.

How do you calculate rent accurately?

The amount of rent you charge your tenants should be a percentage of your homes market value. Typically, the rents that landlords charge fall between 0.8% and 1.1% of the homes value. For example, for a home valued at $250,000, a landlord could charge between $2,000 and $2,750 each month.

What type of tenancy is an AST?

What is an assured shorthold tenancy? An assured shorthold tenancy is the most common tenancy if you rent from a private landlord or letting agent. The main feature that makes an AST different from other tenancies is your landlord can evict you without a reason. They must follow the correct procedure to do this.

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