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Cost of living in Florida 2022

Cost of living in Florida 2022

Cost of living in Florida 2022

Cost of living in Florida, 2022

 

The Sunshine State’s beaches and warm climate are a powerful draw. Florida is attracting new residents in droves — it was the number one state that people moved to in 2021, according to a recent study by Move.org. And it’s no wonder: Two Florida cities appear on Bankrate’s newest rankings of the best places to live in America, and the state tops our list of best states for retirement.

One of our best places to live in Florida is Tampa, a city that actually skews young, rather than retirement age, thanks in part to its numerous colleges and universities. Other top-rated cities include Jacksonville, Gainesville and Orlando, which all receive high marks for affordability and job offerings.

For a long time, Florida had a reputation of being one of the more budget-friendly states in which to live. But that appears to be changing as the cost of housing trends ever upward. As of August 2022, median sale prices for homes in the state reached $407,000, according to Florida Realtors data. And Miami was labeled the least affordable city in the nation for renters by a Realtor.com report issued earlier this year.

What’s the average cost of living in Florida?

Housing is a big piece of the puzzle when it comes to overall cost of living — but it’s not the only piece. There’s also what you’ll need to pay for daily essentials like food and transportation. According to MIT’s living wage calculator, a single adult with no children would need to earn a minimum of $35,858 to make ends meet. Here are some key costs to consider if you’re thinking of moving to Florida:

Housing costs

Whether you’re seeking to rent or buy, there’s a great deal of competition for homes in Florida. The influx of people moving from pricier parts of the country is pushing up prices and squeezing many longtime residents out of the market, particularly those in lower-paying jobs. And be sure to look into the cost of homeowners insurance in Florida, which may be high due to potential damage from hurricanes and other risks.

The state is home to the top three cities in the Sun Belt where rents increased the most between 2021 and 2022, according to Realtor.com. In Miami, rents in February 2022 had soared 55.3 percent since the previous year, with the median monthly rent reaching $2,929. In Orlando, rents rose 35.4 percent to $1,843, and Tampa rents increased 32.3 percent to $2,098.

On the buyer side, the $407,000 median sale price for single-family homes represents a 15 percent year-over-year increase, say Florida Realtors. And the median price for a condo or townhouse, $305,000, is an increase of more than 20 percent. However, there are signs that inventory is increasing, which may help ease prices.

Utility costs

Utility costs in Florida are 3 percent higher than the national average, according to RentCafe. Average monthly utility bills in major cities run well over $100. In Orlando, home of Disney World, utilities cost a steep $185 per month on average, while in Miami, monthly bills are typically around $128.

Grocery costs

Amid the inflation pressures sweeping the nation, food prices in Florida have been rising. The cost of typical grocery items, like baked goods, meats and produce, rose 15 percent between 2020 and 2022. According to MIT’s living wage calculator, food costs in Florida run about $3,351 per year for a single adult with no children. For a family of four, two adults and two children, that figure rises to $9,856.

Transportation costs

Unlike many other living costs in Florida, transportation is about 1 percent less expensive than the national average. MIT’s data puts annual transportation costs in the state at $5,509 for one adult. For a family of four, that cost ticks up to $15K.

Taxes

The state of Florida has no income tax for individuals, according to the Tax Foundation. It does, however, charge a 6 percent sales tax. Property tax rates in Florida vary by county but average about 0.91 percent of a property’s value. That puts it right near the national median — it ranks 26th out of the 50 states in property taxes.

Florida’s job market

Florida offers a robust job market. The state’s largest employer is the Publix supermarket chain, which is headquartered in Lakeland, followed by — no surprise — Walt Disney Parks and Resorts. (Grocery chains and amusement parks loom large in Florida’s employment scene, as Winn-Dixie and Universal Orlando also rank among the state’s top employers.)

The state’s unemployment rate as of August 2022 was just 2.7 percent, according to the Bureau of Labor Statistics. That’s 1.6% lower than it was in 2021, and it’s a full percentage point lower than the national unemployment rate of 3.7 percent.

Ready to move to Florida?

Before relocating anywhere, it’s a good idea to visit and explore the different areas where you might consider living. Daily expenses, job opportunities, healthcare offerings and entertainment options can vary significantly from place to place, even within the same state. Use Bankrate’s cost of living calculator to determine the differences from one Florida city to another — for example, the cost of living in Miami is more than 25 percent higher than it is in Jacksonville.

If you’re looking to buy a house in Florida, be sure to work with an experienced local real estate agent. An agent who knows the intricacies of the local market can make all the difference on your house hunt, especially if you’re moving from out-of-state. Ask friends and family in the area for referrals, and if you see a “for sale” or “sold” sign in a neighborhood you’re interested in, reach out to those agents as well.

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Experts in Residential Real Estate in Orlando

If you are buying or selling real estate it’s quiet often the single most important financial decision you make. For the last 30 years we have helped clients buying and selling property in Orlando and the surrounding areas. Put simply, this means the knowledge and expertise accumulated over this time ensures our clients get the best representation possible.

Our experienced agents will help and guide you through the entire process providing valuable support every step of the way.

Ready to make a Move?

Bardell Real Estate are the experts in helping you with your selling, buying or renting needs near Orlando, Florida. Make your Disney area experience a forever memorable one. Call us now to speak to a real estate agent.

 

Understanding Interest Rate Buy Down

Understanding Interest Rate Buy Down

WHAT ARE MORTGAGE DISCOUNT POINTS?

Mortgage discount points are fees paid to a lender to reduce your interest rate. They allow a borrower to trade paying more money upfront in exchange for a lower interest rate. A borrower can pay more in closing costs for smaller monthly payments over the life of the loan. Having an understanding of this substantial savings opportunity over the life of the loan is key. When reviewing interest rates from mortgage lenders, you’ll often see different numbers listed, including:

1. Mortgage interest rate
2. APR (Annual Percentage Rate)
3. Points

The mortgage interest rate is the percentage of the loan you are paying your lender to borrow the money. APR is the yearly income received by the lender over the life of the loan, reflected as a percentage of the loan amount (this includes other fees and costs charged in addition to the interest).

Points are fees associated with buying down your interest rate. Each discount point equals 1% of your loan amount and this discount point typically decreases your interest rate by about 0.25%. 

How much will you save when buying mortgage points?

Depending on your circumstance, buying mortgage points can save you significant money over the course of your loan. Here’s an example:

Paying discount points to get a lower interest rate can be a great strategy. Lowering your rate even just 25 basis points (0.25%) could save you tens of thousands over the life of the loan.

Other things to know about mortgage points

The terms around buying points can vary greatly from lender to lender. Here are some important things to consider:

The lender and the marketplace determine your rate reduction, and it can change after the fixed-rate period for your mortgage ends. That’s why it’s important to make sure your break-even point occurs well before the fixed-rate expires. For Bank of America customers, however, if rates go up during the adjustable period, your rate will be lower based on the points you initially purchased.

Contact a tax professional to see whether buying mortgage points could affect your tax situation.

If you need to decide between making a 20 percent down payment and buying points, make sure you run the numbers. A lower down payment can mean also paying for private mortgage insurance (PMI), which could cancel out the benefit of buying points for a lower interest rate.

 

RE/MAX Heritage has served the Central Florida real estate market for over 30 years. 

If you are interested in buying, selling or renting a property in the Disney Orlando area of Central Florida please complete the form below to provide us with more information so that we can better serve you.

We look forward to hearing from you!

Ready to make a Move?

Bardell Real Estate are the experts in helping you with your selling, buying or renting needs near Orlando, Florida. Make your Disney area experience a forever memorable one. Call us now to speak to a real estate agent.

Mortgage rates drop by largest amount in 41 years

Mortgage rates drop by largest amount in 41 years

Mortgage rates drop by largest amount in 41 years

Mortgage rates plunged by nearly a half-percent this week, marking the largest week-over-week decline since November 1981.

The rate on the average 30-year fixed mortgage fell to 6.61% from 7.08% the week prior, according to Freddie Mac, which this week changed its methodology calculating rates. The drop follows a sharp decline in the yield on the 10-year Treasury last week after a government showed inflation cooled last month.

The sudden decrease gave price-strained homebuyers and sellers still in the market an inkling of relief, boosting activity in the otherwise sluggish market.

“The drop in rates incentivized buyers to rush and try to lock rates this weekend, the difference in demand was significant,” Adriana Perezchica, president of Via Real Estate, told Yahoo Money. “Until recently, buyer demand had weakened as borrowers have had a hard time keeping up with higher rates and home prices. We don’t know how long this dip in rates will last…and buyers are absolutely racing to lock a rate.”

This week’s results also debuts Freddie Mac’s revised methodology, which now collects real-time rates based on loan applications submitted to its automated underwriting system. The new approach has an average difference of less than 10 basis points.

​​mortgage rate graph

Ready to make a Move?

Bardell Real Estate are the experts in helping you with your selling, buying or renting needs near Orlando, Florida. Make your Disney area experience a forever memorable one. Call us now to speak to a real estate agent.

 

How Does Eviction Work?

How Does Eviction Work?

How Does Eviction Work?

Going through an eviction isn’t an ideal outcome for landlords or their tenants. Surprisingly though, the eviction process is more common than you think — according to the U.S. Federal Reserve, roughly 3 million non-homeowners were evicted or forced to move due to the threat of eviction between 2016 and 2018.

While some evictions are unavoidable, there are best practices that landlords should follow to rent responsibly and prevent evictions altogether, including properly screening tenants and signing lawyer-approved, state-compliant lease agreements. Here’s what every landlord needs to know about the eviction process.

What Is an Eviction?

People often associate the word “eviction” with the physical act of the tenant being expelled from a rental property. In actuality, an eviction is a lengthy legal process. This process starts with an eviction notice, frequently in the form of a Pay or Quit Notice, and if necessary, culminates in an Unlawful Detainer, which is carried out by local law enforcement.

According to TransUnion, the average eviction-related cost to landlords is approximately $3,500, and an eviction can take as long as three to four weeks to complete. When comparing this cost to the low price of tenant screening, the results speak for themselves — thorough tenant screening is a less expensive and time-saving alternative. Using a lease agreement that’s already been reviewed by lawyers can also ensure both parties are aware of the processes set in place in the case of an eviction.

Before initiating the eviction process, it may be worth discussing options with tenants directly. Finding a solution before going to court may save significant time and money in the long run, and ultimately, most tenants don’t want to be evicted, since a legal eviction will be reported against the tenant for seven years. When possible, it’s in the best interest of both landlords and tenants to come to an agreement together.

What Are the Steps in the Legal Eviction Process?

To help you know how to break a lease as a landlord, we outlined four steps to take that can help make the eviction process go smoothly.

1. Pay or Quit Notice

A Pay or Quit notice is designed to provide tenants with a formal warning that they are in violation of the lease. This will provide the tenant with specific instructions to comply with their lease and advise the number of days allowed before an eviction is brought to court.

As a landlord, it is best to provide a Pay or Quit Notice (sometimes called a Pay or Vacate Notice) by certified mail. This ensures that there is a legal record of the date that notice was provided. It is common practice to post the notice of eviction to the door of the property, but this should only be done in addition to sending the notice by certified mail.

When going through an eviction, it is of the utmost importance to act professionally and to comply with state and federal laws. Before providing an eviction notice, check the laws for your state to confirm the number of days required for notice and confirm there are legal grounds for eviction. If the legal grounds for eviction are met, you can move to the next step of creating a state-specific eviction notice.

2. Eviction Forms and Filing

After a Pay or Quit notice is served, the tenant has a specific number of days to comply with the lease or vacate the property. If the tenant fails to comply within the provided notice period, then an eviction may be filed against the tenant through the courts.

Filing a Forcible Detainer to remove the tenant requires the following forms:

  • Eviction complaint: This form starts the eviction case.
  • Summons: This informs the tenant about the eviction case.

These forms are to be filed with the court clerk and to be delivered to the tenant through the local sheriff’s office. You can also check the resources provided by the local clerk’s office to see if there are options for filing online. 

As a tenant, if you are served with an eviction summons, be sure to follow the instructions for the summons and check the tenant rights for your state. These are designed to help tenants follow the law and provide protection against any unlawful practices by the landlord.

When an eviction is filed through the court, a judge will review the documentation related to the case and issue a ruling. To help prepare for this step, it is best to have a copy of the signed lease, a record of all payments, and a record of any relevant communication between the landlord and the tenant.

Although Avail cannot act as a legal counsel, the platform is designed to help keep landlords and tenants organized with all necessary documentation stored in one place. This includes: 

  • Applications saved with the legal name, date of birth, and identification of the tenant.
  • Legally-binding state leases that have been reviewed by lawyers with time-stamped signatures.
  • Online payments recorded with corresponding receipts and late rent notices.

Be sure to prepare for the eviction case by gathering all corresponding documentation for the judge or the jury. After all relevant parties have made their case, a judgment will be issued. This defines the requirements for any money owed, and if applicable, instructions for the expulsion of the tenant.

3. Judgment

The final step in the eviction process is the removal of the tenant and their belongings from the property. Even after an eviction has been awarded to the landlord, harassment or intimidation is absolutely unacceptable and illegal. If the tenant refuses to leave the property voluntarily, then a court order may be brought to local law enforcement to remove the tenant.

Individual states have different requirements for removing a tenant’s personal belongings. Some states require items to be removed through the court process, while other states give landlords free-reign after the property has been vacated. Check your state requirements before removing a tenant’s personal property.

4. Preparing For New Tenants

It’s worth noting that not all evictions are finalized with the court ordering a Forcible Detainer of a tenant. Throughout the court proceedings, the tenant may agree to comply with an alternate order. Examples of these include an Agreed Move-Out and Compliance, Dismissal with Leave to Reinstate, or a Pay-and-Stay Agreement. These options are generally better for both the landlord and the tenant, because they result in the landlord receiving payment and the tenant having the option to stay in the property.

It’s important to note that some circumstances will add additional steps to the eviction process. Legal representation may be useful to understand the requirements of a particular case.

Some circumstances that may affect or lengthen the eviction process are the following:

  • Accepting partial or full rent payments will negate the eviction process.
  • If the tenant declares bankruptcy, the eviction process is put on hold until bankruptcy proceedings are finalized.
  • Once the tenant has moved out, the landlord typically still has to prepare the property for turnover to the next tenants. Depending on any potential damage caused by the evicted tenant, this could take additional time, and sometimes lead to additional lawsuits.

Evictions can be costly, and due to the variables that can affect the length and outcome of the eviction process, it’s always best to avoid evictions in the first place.

How Much Does an Eviction Cost?

There are quite a few costs associated with evicting a tenant, including attorneys fees, court costs, lost rent, turnover costs, and property damages. As mentioned previously, the cost to break a lease is approximately $3,500.

Even if a landlord wins a financial judgement against the tenant, many landlords are still unable to collect payment from those tenants. According to the American Collectors Association, the success rate for debt collection after an eviction is only 17%.

How Long Does an Eviction Take?

Along with the high cost of an eviction, the process can take weeks to complete. An eviction typically takes from three to four weeks to run its course, but is dependent on your state laws, the specific eviction case and other factors.

 

 

 

Renting a Home through RE/MAX Heritage

If you are looking for a home to rent in the Orlando area we are here to help. As a full-service real estate office licensed to conduct long-term rental activity we are capable of meeting all your needs for long-term leasing.

Learn More!

or call us at (863) 424-3209

 

 

Ready to make a Move?

Bardell Real Estate are the experts in helping you with your selling, buying or renting needs near Orlando, Florida. Make your Disney area experience a forever memorable one. Call us now to speak to a real estate agent.

 

Existing-Home Sales Decreased 1.5% in September

Existing-Home Sales Decreased 1.5% in September

Existing-Home Sales Decreased 1.5% in September

WASHINGTON (October 20, 2022) – Existing-home sales descended in September, the eighth month in a row of declines, according to the National Association of REALTORS®. Three out of the four major U.S. regions notched month-over-month sales contractions, while the West held steady. On a year-over-year basis, sales dropped in all regions.

Total existing-home sales,1 https://www.nar.realtor/existing-home-sales, completed transactions that include single-family homes, townhomes, condominiums and co-ops, retracted 1.5% from August to a seasonally adjusted annual rate of 4.71 million in September. Year-over-year, sales waned by 23.8% (down from 6.18 million in September 2021).

“The housing sector continues to undergo an adjustment due to the continuous rise in interest rates, which eclipsed 6% for 30-year fixed mortgages in September and are now approaching 7%,” said NAR Chief Economist Lawrence Yun. “Expensive regions of the country are especially feeling the pinch and seeing larger declines in sales.”

Total housing inventory2 registered at the end of September was 1.25 million units, which was down 2.3% from August and 0.8% from the previous year. Unsold inventory sits at a 3.2-month supply at the current sales pace – unchanged from August and up from 2.4 months in September 2021.

“Despite weaker sales, multiple offers are still occurring with more than a quarter of homes selling above list price due to limited inventory,” Yun added. “The current lack of supply underscores the vast contrast with the previous major market downturn from 2008 to 2010, when inventory levels were four times higher than they are today.”

The median existing-home price3 for all housing types in September was $384,800, an 8.4% jump from September 2021 ($355,100), as prices climbed in all regions. This marks 127 consecutive months of year-over-year increases, the longest-running streak on record. It was the third month in a row, however, that the median sales price faded after reaching a record high of $413,800 in June, the usual seasonal trend of prices trailing off after peaking in the early summer.

Properties typically remained on the market for 19 days in September, up from 16 days in August and 17 days in September 2021. Seventy percent of homes sold in September 2022 were on the market for less than a month.

First-time buyers were responsible for 29% of sales in September, unchanged from August 2022 and slightly higher than 28% from September 2021. NAR’s 2021 Profile of Home Buyers and Sellers – released in late 20214 – found that the annual share of first-time buyers was 34%.

All-cash sales accounted for 22% of transactions in September, down from 24% in August and 23% in September 2021.

Individual investors or second-home buyers, who make up many cash sales, purchased 15% of homes in September, down from 16% in August, but up from 13% in September 2021.

Distressed sales5 – foreclosures and short sales – represented 2% of sales in September, a marginal increase from 1% in August 2022 and September 2021.

According to Freddie Mac, the average commitment rate(link is external) for a 30-year, conventional, fixed-rate mortgage was 6.11% in September, up from 5.22% in August. The average commitment rate across all of 2021 was 2.96%.

Realtor.com®’s Market Trends Report(link is external) in September shows that the largest year-over-year median list price growth occurred in Miami (+28.3%), Memphis (+27.3%) and Milwaukee (+27.0%). Phoenix reported the highest increase in the share of homes that had their prices reduced compared to last year (+32.3 percentage points), followed by Austin (+27.4 percentage points) and Las Vegas (+20.0 percentage points).

Single-family and Condo/Co-op Sales

Single-family home sales declined to a seasonally adjusted annual rate of 4.22 million in September, down 0.9% from 4.26 million in August and down 23.0% from the previous year. The median existing single-family home price was $391,000 in September, up 8.1% from September 2021.

Existing condominium and co-op sales were recorded at a seasonally adjusted annual rate of 490,000 units in September, down 5.8% from August and 30.0% from one year ago. The median existing condo price was $331,700 in September, an annual increase of 9.8%.

“Buying or selling a home involves a series of requirements and variables, and it’s important to have someone in your corner from start to finish to make the process as smooth as possible,” said NAR President Leslie Rouda Smith, a REALTOR® from Plano, Texas, and a broker associate at Dave Perry-Miller Real Estate in Dallas. “REALTORS® rely on in-depth knowledge of the market and objectivity to deliver trusted expertise to consumers in every U.S. ZIP code.”

Regional Breakdown

Existing-home sales in the Northeast dwindled 1.6% from August to an annual rate of 610,000 in September, retreating 18.7% from September 2021. The median price in the Northeast was $418,500, an increase of 8.3% from one year ago.

Existing-home sales in the Midwest slid 1.7% from the previous month to an annual rate of 1,140,000 in September, falling 19.7% from September 2021. The median price in the Midwest was $281,500, up 6.9% from the prior year.

In the South, existing-home sales pulled back 1.9% in September from August to an annual rate of 2,080,000, a decline of 23.8% from this time last year. The median price in the South was $351,700, an increase of 11.8% from September 2021.

Existing-home sales in the West were identical to last month at an annual rate of 880,000 in September, but down 31.3% from one year ago. The median price in the West was $595,400, a 7.1% increase from September 2021.

The National Association of REALTORS® is America’s largest trade association, representing more than 1.5 million members involved in all aspects of the residential and commercial real estate industries.

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For local information, please contact the local association of REALTORS® for data from local multiple listing services (MLS). Local MLS data is the most accurate source of sales and price information in specific areas, although there may be differences in reporting methodology.

NOTE: NAR’s Pending Home Sales Index for September is scheduled for release on October 28, and Existing-Home Sales for October will be released on November 18. Release times are 10 a.m. Eastern.


1 Existing-home sales, which include single-family, townhomes, condominiums and co-ops, are based on transaction closings from Multiple Listing Services. Changes in sales trends outside of MLSs are not captured in the monthly series. NAR benchmarks home sales periodically using other sources to assess overall home sales trends, including sales not reported by MLSs.

Existing-home sales, based on closings, differ from the U.S. Census Bureau’s series on new single-family home sales, which are based on contracts or the acceptance of a deposit. Because of these differences, it is not uncommon for each series to move in different directions in the same month. In addition, existing-home sales, which account for more than 90% of total home sales, are based on a much larger data sample – about 40% of multiple listing service data each month – and typically are not subject to large prior-month revisions.

The annual rate for a particular month represents what the total number of actual sales for a year would be if the relative pace for that month were maintained for 12 consecutive months. Seasonally adjusted annual rates are used in reporting monthly data to factor out seasonal variations in resale activity. For example, home sales volume is normally higher in the summer than in the winter, primarily because of differences in the weather and family buying patterns. However, seasonal factors cannot compensate for abnormal weather patterns.

Single-family data collection began monthly in 1968, while condo data collection began quarterly in 1981; the series were combined in 1999 when monthly collection of condo data began. Prior to this period, single-family homes accounted for more than nine out of 10 purchases. Historic comparisons for total home sales prior to 1999 are based on monthly single-family sales, combined with the corresponding quarterly sales rate for condos.

2 Total inventory and month’s supply data are available back through 1999, while single-family inventory and month’s supply are available back to 1982 (prior to 1999, single-family sales accounted for more than 90% of transactions and condos were measured only on a quarterly basis).

3 The median price is where half sold for more and half sold for less; medians are more typical of market conditions than average prices, which are skewed higher by a relatively small share of upper-end transactions. The only valid comparisons for median prices are with the same period a year earlier due to seasonality in buying patterns. Month-to-month comparisons do not compensate for seasonal changes, especially for the timing of family buying patterns. Changes in the composition of sales can distort median price data. Year-ago median and mean prices sometimes are revised in an automated process if additional data is received.

The national median condo/co-op price often is higher than the median single-family home price because condos are concentrated in higher-cost housing markets. However, in a given area, single-family homes typically sell for more than condos as seen in NAR’s quarterly metro area price reports.

4 Survey results represent owner-occupants and differ from separately reported monthly findings from NAR’s REALTORS® Confidence Index, which include all types of buyers. The annual study only represents primary residence purchases, and does not include investor and vacation home buyers. Results include both new and existing homes.

5 Distressed sales (foreclosures and short sales), days on market, first-time buyers, all-cash transactions and investors are from a monthly survey for the NAR’s REALTORS® Confidence Index, posted at nar.realtor.

Ready to make a Move?

Bardell Real Estate are the experts in helping you with your selling, buying or renting needs near Orlando, Florida. Make your Disney area experience a forever memorable one. Call us now to speak to a real estate agent.

 

How to Create a Rental Resume

How to Create a Rental Resume

How to Create a Rental Resume

How to Create a Rental Resume

Finding rentals that meet your criteria is one step, but getting your application in front of the competition is becoming a common part of the apartment search process. There are a few ways you can increase your chances of landing your preferred rental in a competitive market, including by creating a rental resume that shares an overview on who you are, your renting history, and more.

In this article, we outline what a rental resume is and how to easily create one yourself.

 

 

What Is a Rental Resume?

A rental resume is similar to a resume you’d create when applying for a new job that gives landlords an overview of who you are, your rental history, income, and employment. While it’s not common for landlords to request a rental resume, providing one to a landlord can help you stand out in a competitive market and show you’re serious about renting their property.

What to Include in a Rental Resume

Unlike traditional resumes, rental resumes are intended to include relevant information on your rental history, how much income you make, and where you currently work. You can customize your resume to your liking, but it should generally include the following sections.

 

 

 

 

1. Your Contact Information

As a best practice, include your contact information at the top of the document for the landlord to find. Your phone number, email address, and current address should be in an easy-to-find spot on the document for the landlord to see.

2. The Type of Rental You’re Looking For

Adding an objective section is optional and can highlight the type of rental you’re looking for, if you own any pets, or other factors the landlord should be aware of. You can also mention your desired price range for rent, but most renters are advised to only apply to properties they can afford. Here’s an example of an objective statement to include:

“I am looking for a one bedroom and one bathroom rental property that offers a 12-month lease term option. I’m currently based in Downtown Houston, but I’m looking to relocate to the north suburbs for my current employment. I own one pet, a cat named Sunshine, that has all of her vaccinations and is registered with the city. I have a strong history of making on-time rent payments and always escalate maintenance issues right away.”

3. Your Background

Your background section should quickly inform the landlord on who you are, your rental background, a brief description of your employment history and if you’re currently a student. There are other pieces of information you can also add (like hobbies you enjoy), but it should be relatively brief with important details that relate to renting.

4. Your Current Employment and Income

During the rental application process, the landlord will most likely request information on your employer and income. A rental resume will not replace an online rental application, but it can give the landlord an idea on your employment history and if you meet the income requirements. As a reminder, most landlords require you to make at least three times the rent, so you’ll want to ensure you meet the criteria before submitting an inquiry.

Landlords will also want to verify the information you provide is correct, so it may be helpful to include your supervisor’s contact information if they’re okay with it. Since rental resumes are one page, most renters include their current employer only.

5. Your Rental History

Your rental history consists of previous properties you rented individually or with roommates. You can highlight the lease start and end date, the landlord’s contact information, how much you paid in rent, and why you left the rental.

If you were previously evicted or needed to break the lease, you can also include more information on both types of incidents to help the new landlord understand what happened.

6. References

The reference section can include a landlord reference, a credit reference, or a character reference to speak on your behalf. Including references could be beneficial if you have a short renting history or are unable to authorize screening reports with a social security number (SSC) or individual taxpayer identification number (ITIN).

However, it’s best practice to only include people or credit institutions that are willing to speak with the landlord.

7. Additional Documents You’re Willing to Provide

Documents you can attach to your rental resume can be landlord letters of recommendation, bank statements to verify your income, or pay stubs. These documents can be whatever you’re comfortable with sharing or feel can strengthen your rental resume.

 

Renting a Home through RE/MAX Heritage

If you are looking for a home to rent in the Orlando area we are here to help. As a full-service real estate office licensed to conduct long-term rental activity we are capable of meeting all your needs for long-term leasing. Learn More!

or call us at (863) 424-3209

Ready to make a Move?

Bardell Real Estate are the experts in helping you with your selling, buying or renting needs near Orlando, Florida. Make your Disney area experience a forever memorable one. Call us now to speak to a real estate agent.