Discovering the US 2019

Securing Rental Housing Application Fees

When you find a rental property of interest, it may be necessary to complete an application and pay an application fee which usually ranges from $75-$150 or more. This fee is non-refundable, even if you do not secure the property. The rental application will ask about your housing history, employment history, salary, and debts. Your consultant can assist you with the completion of the application. You will typically also be asked to pay for a “credit check”, which evaluates an applicant’s likelihood of paying debt and confirming a history of good financial standing. Since it is very likely that you will not have a credit history established in the US, the property owner or landlord may additionally request a Letter of Employment, supplied by your local US employer. Security Deposit Once your application is approved, you will pay a security deposit and sign a lease. The security deposit may be as much as one or two times the monthly rent, so it is important to confirm the amount before you sign a lease. At the end of your lease, the condition of the property is evaluated and the security deposit is returned to you less the cost to repair any damages. Lease Review Prior to signing your lease, it is important to read and understand the terms of the rental agreement. Your consultant will act as your advocate during this process. The security deposit and first month’s rent are usually due at the time of the lease-signing. The lease document will outline the length of time you rent the property (a one-year term is standard), how much notice you need to give when you plan to move out, the rental amount, your responsibilities in maintaining the property, as well as the landlord’s responsibilities. Any specific property rules will also be outlined in the lease. Be certain that you are willing to meet all of the rules listed. These may include restrictions on pets or the number of persons allowed to reside in the home. Transfer / Diplomatic Clause Your employer may require that a Transfer or Diplomatic Clause be included in your lease. This allows you to terminate the lease without a large monetary penalty in the event that you are transferred. If your company requires a Diplomatic Clause, your consultant will help you negotiate the inclusion of this clause. Please note: not all landlords are willing to include this in the lease; your consultant provides guidance in the event that a landlord is unwilling to accept a transfer/diplomatic clause. Monthly Rent / Utility Costs Rental prices and details vary. Before signing the lease, it is important to determine what is included in your monthly rent. For example, some landlords/management companies may pay for heating, electricity, and/or waste removal on your behalf, while others require the tenant to assume all utility costs. In these instances, utility service connection will need to be established.

© 2019 Dwellworks, LLC

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Discovering the US