Basic Steps of a Rental Transaction

College Town Living helps “College Towners” like YOU find a place to live!
There are absolutely NO hidden fees involved!

Step 1: Contact College Town Living (“CTL”)

Prospective Tenant(s) can register with a College Town Living representative by completing a Client Information Sheet and providing contact information/search criteria:

Tenant Name(s) Phone Number(s) Email Address(es)
Lease Start Date Price Range Preferred Cities
Bedrooms/Bathrooms Parking Spaces Pets/Special Needs

Depending on the property type, a credit check may be needed and can be provided by College Town Living at a nominal charge.  If the prospective tenant is a student, the credit check may be performed by a parent or legal guardian.

Based on the information provided, the College Town Living representative will search for listings based on your criteria and email you a list of properties within 48 hours.

Step 2: Review Properties

Once you have reviewed the property list, please inform the CTL representative of 4-5 rental listings that interest you. The agent will schedule appointments to show you the selected properties, but will also continue to search for other relevant listings.

Step 3: Make an Offer (Contract to Lease)

When you find a property that you like, the CTL representative will help you make an offer by completing a “Contract to Lease”.

Offer: An intentional proposal or promise stating you are willing to rent the Landlord’s property at a specific price and terms provided the Landlord acts or performs in the manner requested.

Contract to Lease: This contract is an initial commitment between Tenant and Landlord highlighting each party’s responsibilities. These terms can include, but are not limited to: rental period, monthly rate, maintenance terms, utility responsibilities, and default procedures.

Initial Deposit: An initial deposit, usually one month’s rent, must be included with the Contract to Lease. This deposit acts as monetary consideration when making the offer and will be applied towards move-in fees and/or advance rent.

If your offer is accepted, the Landlord will sign the Contract to Lease and go to Step 4.
If your offer is not accepted, further negotiations may take place or you can choose to pursue another property.

Step 4: The Lease

The Landlord will prepare a Lease for all parties to review, date and sign. Your CTL agent will assist you to ensure that all terms and conditions are agreeable.

Step 5: Condominium/Homeowner Association Approval (if necessary)

If the selected property requires the approval of a condominium or homeowner association, you will be asked to complete the required “Association Application”. This process generally takes 1-2 weeks, but can be up to 30 days.

Association Application: As part of this Application, you may be asked to provide: contact information, credit information, background information and/or vehicle information. You may also be asked to sign an agreement stating that you will abide by the Association’s bylaws, rules and regulations.

There is usually a non-refundable fee required to submit the application.  In most cases, you must be approved by the Condominium/Homeowner Association prior to occupancy of the rented property.

Step 6: Other Disclosures

Landlord/Tenant Act: Florida Statute requires that your Landlord inform you, in writing, within 30 days from the receipt of advance rent or security deposits of the manner in which your funds will be held. The Landlord/Tenant Act must include: Landlord’s bank name and address, amount deposited, rate of interest (if any), and the date that interest payments will be made to you.

Lead-Based Paint Disclosure: Because of the dangers associated with Lead-Based Paint inside homes built prior to 1978, all parties of a rental transaction are now required to sign a Lead-Based Paint Disclosure.

Step 7: Walk-Thru & Move-In

On the day of/before the Lease start date, Tenant(s) can perform a final walk-thru of the rented property and will provide the final move-in deposits to the Landlord in exchange for property keys, gate remotes, security access, contact information, etc. The rental transaction is then completed.

CONGRATULATIONS ON YOUR NEW HOME!

Click Property Search or email Info@CollegeTownLiving.com today!

Corey Schwartz | Broker Associate | RE/MAX Advance Realty
RE/MAX Advance Realty is an independent real estate brokerage servicing the South Florida real estate community
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Equal Housing Opportunity  Realtor®