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Renting in Miami

Renting can be stressful, so I thought to put together this guide to brief you on some insights that could make the process easier. I am a second-generation Miamian (yes, both my parents were born and raised here too) and I have been working full time in Real Estate since 2005 and I LOVE IT! I really enjoy leveraging my street smarts and ends and outs of this business to help you find the perfect place to call home. It’s an important decision and most likely your biggest expense each month. 



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The best part is that you do not have to pay me! That’s right. I help you find a place, I set up the showings, I walk you through the offer process, I review all your documents and help you get them signed and back to the owner and basically hold your hand through this entire process and at the end I get paid from the landlord from whom you rent from. It is part of their cost of doing business. 



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It does not matter if you use me or not, but it does not make sense NOT to use a Realtor® to help you find a place because they can get you access to everything you find online if it is real and actually available and they have direct access to whoever is in control of the property. That’s what we Realtors® pay thousands of dollars to the Realtor® Association for every year to get access to the mlx. The consumer MLS will give you the inventory by you are rarely dealing with the actual owner’s representative. 

TYPES OF RENTAL PROPERTY

There are (2) two types of properties you can rent from, privately owned condos, single family homes and townhomes or Leasing companies.

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What Is The Difference?

Leasing companies own the entire building, they have a leasing office, they can move you in quickly, within days, the move in money is less than a privately owned property, and they allow pets, for a fee.

If you need to move quick and do not have the first month rent, last month rent and one month security deposit that a privately owned property normally requires, a leasing company will be your jam. 

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Leasing companies have onsite maintenance which is convenient but all of your utilities (water, sewer, trash, electricity, cable and internet) are paid separately. Sometimes (1) parking space is included but usually not. Whereas in a privately owned condo building or townhouse, water, sewer and trash are always included and a parking space is usually included and sometimes cable and internet are included. 

Most buildings in Miami are Condos. Each unit is individually owned and the building itself is managed through the Condo Association or a Management Company hired by the condo association. 

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A leasing company will allow you to apply online and you will have a response on your application usually within 24 hours or less. 

There process to rent a property from a private owner within a condo building is quite different…..

First you have to submit an offer on what is called a Contract to Lease. The Contract to Lease will have the Tenant(s) 

legal name

The date they want to move in and out

What the offer price is

A breakdown of what you are offering for your move in cost

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Renting Resources

Here some renting resources that you may need at the moment of renting a property.

Lease Guarantor Rental Application

Rental Offer Instructions

  • Completed rental application
  • Signed Contract to lease
  • Copy of the government-issued ID of the applicant(s)
  • Credit score - you can download the app Credit Karma and follow instructions. Take a screenshot of the credit score
  • Proof(s) of income any or all of the following are acceptable 
    • last two months pay stubs 
    • bank statements (mark out account #’s)
    • employment verification letter

Typically, landlords are looking for income that is 3x the rental asking price. 

For example: a property that is listed at $2,000 a month for rent would need a combined provable income of at least $6,000 or a combination of money in the bank and income. 

Work With JoAnne

With over a decade of Real Estate experience, a meticulous eye for detail, an ambitious nature, and a hunger for knowledge, she offers her clients a genuinely unique way to buy and sell their investments.

Let's Connect

Address

605 Lincoln Rd.

Miami Beach, FL 33139

 

JoAnne Jones

(786) 510-2188

[email protected]

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