The Leasing Process Start to Finish (8 steps)
- Tenant Views the Home On BajaHomeFinders.com
- Tenant Completes a Rental Application
- Tenant Inspects the Property Live
- Property Manager Verifies References
- Tenant Approval
- Lease Signing
- Taking Occupancy
- End of the Lease
1. Tenant Views the Home On BajaHomeFinders.com
If they decide to hold the property, they make a good-faith Deposit/Offer to Rent, including the tenant’s requirements, to the real estate agent/property manager.
2. Tenant Completes a Rental Application
Any offer made will require the tenant to authorize a rental application and pay a small fee. This gives consent to the property manager to perform a background check.
3. Tenant Inspects the Property Live
Before a lease agreement is drawn up, the tenant visits the space to see if it’s move-in ready and acceptable to their living standards.
4. Property Manager Verifies References
The Property Manager will contact the individuals whom the tenant listed as references, such as past employers, and landlords. to ask about their experience with the tenant, and if they had paid rent on time during their tenancy.
5. Approving the Tenant
When the Tenant is approved, a lease agreement should be written by the Property Manager/Landlord that includes the terms negotiated. The main negotiated items of a lease are the following:
Monthly Rent Amount ($) – How much the tenant has to pay and due on the 1st of each month.
Security Deposit – Equal to the monthly rent amount.
Utilities – Electricity, water/sewer, trash, Internet, and gas.
Fee(s) – Such as parking, pets, and security.
Move-in Date – The day the tenant will take occupancy.
Term – A standard lease is 12 months.
6. Lease Signing
When both parties sign the lease in person it becomes legally binding until the end of its term.
Tenant’s Obligations – When signing, the tenant is responsible for paying:
First (1st) month’s rent; Security deposit; and
Any other fees that are due during the 1st month of occupancy.
Landlord’s Obligations – When signing, the landlord is responsible for providing:
Move-in Inspection – Before or when moving in, the tenant and property manager will inspect the property and record the condition. Photos and videos may be used to document.
7. Taking Occupancy
Access to the property is granted on the 1st day of the lease term (unless otherwise agreed). If the tenant moves in before the start of the term, the tenant pays rent based on the pro-rata number of days entering early on the property (ex. if the tenant moves in 10 days early and the rent is $1,500/mo, the tenant is obligated to pay $500).
8. End of the Lease
At the end of the lease period, the landlord and tenant must decide whether to renew the lease. If the landlord chooses not to continue, the tenant must move out and provide their forwarding address.