Rent 

Submit a Miami Rental Offer Successfully

Real estate agents or Miami Realtors are not the same. Every real estate agent is a not a Realtor®. Their method and style of work differ from one agent to another. It is this difference that determines if you submit a Miami rental offer successfully. 

Here is  a summary of next steps to help you familiarize with the process. Remember this, in negotiations, "fair" has a range for each side. It's about how to position the offer to create a win-win situation for the tenant and the landlord.

Who are you?

It's important to understand that it is not just about how much Miami rent you can afford to pay, rather, who you are and your financial responsibility.

Miami's rental market is fiercely competitive. You must be prepare and willing to work with me to leverage your offer with certain documents and forms.

The available rental inventory is low. Within the past 2 years, there has been a relentless growth of renters in the market and substantial increase in rents. 

It is hard to believe that we have limited rentals properties, particularly, with the housing crisis and the past Miami condo boom. One of the main reasons for the market shift is due to the onslaught of condo and home purchases by foreign buyers and investors.  

The rental offer will need to give credence to you and of course, your offer.

Offer and Next Steps

Rental Offer 

• Prior to engaging into showing you a  property or submitting a contract, I check that there isn't a tax issue or Lis Pendens status on the property. A Lis Pendens means a foreclosure suit claim has been filed aganst the owner of the property. 
• A signed Contract to Lease will be submitted with 1) Earnest money ( prepaid first month's rent) and  2) supporting documentation. The earnest money helps show the owner that you are serious as well as fulfills a term of the contract. Once the offer is accepted, the earnest money is deposited with the title company and applied towards payment of advance monies required prior to move-in. 

What are supporting documentations? 

• Pay stubs or employment letter, prior landlord reference letter(s), credit score documentation and rental application will be included in the rental offer package.  
• If you are a Foreign National – proof of funds, bank statements, pay stubs or employment letter (if applicable), a cosigner or guarantor may be required if no proof of credit .
• If you are a Student– A financial aid letter validating scholarship or grant funds, Guarantor/Cosigner (usually parents) may be required if student has no credit and/or insufficient funds to cover rental for term period.
• For Foreign National Students- Copy of Form I-20. You will need to provide evidence that shows you or your parents have sufficient funds to cover rent payment for the rental period either through bank statements or a letter with an  official letterhead with the signature of a bank official.
• Other Requirements: Referral Letters, background check, police reoprt may be sought by Prospective Landlord or myself.

Response Deadline Options

• Generally, I limit the response period, otherwise,the offer becomes null and void unless parties agree in writing to additional time.
• I may seek an even shorter response time subject to day of the week, circumstances, and Miami’s rental market climate particularly with average days on market, properties location and condition of property.

Outcome Response

• Accepted. If accepted, lease preparation and execution of same by all parties. Last month rent and security deposit paid by cashier’s check is submitted. A note of caution, you can loose your deposit if you default on the terms of the Contract to Lease.
• Declined. If offer declined, we can counteroffer or search for other properties. The deposit continues to be held in escrow or returned upon your written request. 

Next Step: Association Approval

• If a homeowner’s association approval is required, I will supply you with the association application or ask you to apply in person. 
• A copy of the executed lease and fee is to be enclosed with the association application. The application fee is to be paid by a cashier’s check or money order.
• Waiting Period - Homeowner’s association approval may take 1-to-4 weeks. I will follow up with the management on its' status. In case of the approval is not received on time, the term dates will be changed and all parties to the lease will initial the change.
• Association Approval - An association approval letter or certificate will be provided and submitted to owner.

Next Step: Utilities and USPS Change of Address Notification

• Contact the utility service provider to turn on service at your new location. You may call or submit an online order request at least 3-5 business days prior to move-in date for it to be processed on-time.
• Florida Power and Light (305) 442-0388 

         Start New Service Online    Transfer Existing Service Online

• Miami-Dade County Water and Sewer (305) 665-7477  

         Start New Service Online     Transfer Existing Service Online

• Contact your cable/internet provider, Comcast, Uverse, etc.
• Submit change of address online with United States Postal Service 

Next Step: Walk-through Inspection

• We will schedule a date for walkthrough inspection of the Miami rental property usually day prior or on day of move-in. 

Next Step: Final Documents

• A final copy of the Lease, Landlord/Tenant Act, Walk-Through Report and other documentation will be provided for your records.

Know your Rights 

 I always give you Chapter 83, Part II of Florida's Residential Landlord/Tenant Act.. The Florida's Department of Agriculture Division of Consumer Service puts out a summary brochure that you can easily download in English or Spanish.

 Summary of Florida’s Landlord/Tenant Act Brochure                

 Folleto de Resumen de La Ley Del Inquilino/Propietario de la Florida  

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