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A Few Facts you Need to Know before Renting:
Access Merit Rentals here. Contact me for information on all rentals in the Colorado Springs area.
1. Property Management Companies expect you to earn at least 3 times the amount of the Monthly Rent.
2. Property Management Companies will need proof of employment
3. Property Management Companies will do a previous rental history check.
4. Property Management Companies will do a payment history check
5. Property Management Companies charge an application fee - in our case $25.00 per adult.
6. Property Management Companies will charge a upfront deposit fee, normally the same as the rent
7. Property Management Companies will charge a pet deposit, sometimes refundable and sometimes not - in our case, it is refundable if no damage has been done to the property by your pet.
8. It is easier and cheaper to Buy your own home then it is to get into a rental.
9. Please read your lease carefully.
10. Please have the appropriate funds before looking for a rental.
RENTAL FREQUENTLY ASKED QUESTIONS
Applications
Q. How long does it take to process an application?
A. It takes approximately 2 business days to process an application - if it is filled out completely. Fill in accurate names and phone numbers for all references and legibly completing personal information is extremely helpful. For military personnel, providing a copy of a current Leave & Earnings Statement will help speed up the process
Q. Must both spouses fill out the application and be on the lease?
A. Yes, anyone age 18 and over must be fill out an application and be on the lease. The $25.00 application fee applies for each adult. A current Power-of-Attorney can be used to sign for an absent spouse/adult.
Q. Can an unemployed person apply for a rental property?
A. Yes, as long as they pass the application process and pay six months rent up front.
Q. Who is responsible for assisting in the completion of the application?
A. The real estate broker who showed you the property can provide assistance in completing the application. Be sure to ask them for help
Funds
Q. Can security/pet deposits be paid in installments?
A. Sorry, no.
Q. How much rent has to be paid if move-in doesn't occur until the middle of the month?
A. If move-in occurs after the 18th of the month, the applicant is responsible for the rest of the month PLUS the next month. Prior to the 18th of the month, the current month will be pro-rated but the rent must be paid in certified funds.
Q. What are certified funds?
A. Certified funds are cashier's checks or money orders. Merit Co., Inc. does NOT accept cash for security deposits or rent. However, cash application and inspection fees are accepted.
Q. Are post-dated checks acceptable?
A. No.
Q. When are pet deposits due?
A. At the lease signing.
Miscellaneous
Q. How do I see the inside of a rental property I'm interested in?
A. Call the number on the sign (if you drive by a property) or the number listed in the advertising to schedule an appointment to see a property.
Q. Will items in the rental property be replaced or upgraded prior to move-in?
A. No, the property is rented "as is" unless the property owner approves work to be done.
Q. Once I move in, who do I call if there is a problem with the property (e.g., furnace not working, leaks, etc.)?
A. Call Merit Co., Inc. Property Management office, 719-593-9068 (719-687-1112 for properties managed out of our Woodland Park Office)
Q. Who is responsible for paying utilities?
A. Unless specified otherwise, the tenant is responsible for all utilities.
From Renter to Homeowner
Q. Can I buy a home from Merit Company?
A. YES, absolutely! I am specially trained to help you through the process of buying a home. We even have a mortgage company to help you with financing a home purchase. Our mortgage company, New Life Mortgage, provides huge discounts to Merit tenants.
Q. How do I go about buying my own home?
A. Just contact me and I will get you started.
Q. Can I afford to purchase a home?
A. I won't know until you speak to New Life Mortgage who would be happy to provide a FREE and confidential review of your financial situation to see if you are ready to become a homeowner. Ask me for more information
Our goal is to find you a suitable home fitting your wants and needs.
Remember, we are here to help, not harass
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Sallyanne Holmes - GRI
A Licensed REALTOR ® in the State of Colorado |
Merit Co Inc
6120 Tutt Blvd
Colorado Springs, CO 80923 |
Cell: (719) 660-0622
Business: (719) 596-7800
Fax: (719) 596-1784 |
Email: Sallyanne@homesforsaleco.com |
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