PROCESS
9 a.m. - 4:30 p.m.
Hey, Ali! Below I’ve listed the apartments we’ll be seeing tomorrow (Tuesday, 7/7/20) ordered by time. A few were added (new) and few were removed (rented). Let me know if there’s any you’d like me to take off the list - I’ve sent this to Jenna as well. There will be a few time gaps in between showings - though I’ve done my best to minimize this. I’m also waiting to hear from a handful of other’s about their pet policies (which I’ve tried to dispute), & we’ll use those to fill in the time gaps if they respond by tomorrow.
We’ll have to take separate cars, wear masks, and social distance. We’ll meet at the first apartment, 51 Old Harbor Rd, South Boston, at 9 a.m. and finish no later than 4:30 p.m. - all units are in South Boston, 7 in total.
Let me know if you have any questions, and I’m looking forward to meeting you! Be sure to take videos/pictures if you’d like, as I’m sure Jenna will want to see them. Cell is best for communication - mine is (508) 241-5757.
1
9:00 a.m.
2 Bed
$3,600
51 Old Harbor St
1,337 Sq. Ft.
2
9:45 a.m.
3 Bed
$3,995
140 W 8th - Unit 2
900 Sq. Ft.
3
10:30 a.m.
3 Bed
$3,895
605 E Third Street - Unit 1
1,000 Sq. Ft.
4
12:00 p.m.
3 Bed
$3,900
881 E 4th St. - Unit 1
1,400 Sq. Ft.
5
1:20 p.m.
2 Bed
$2,800
272 E St.
654 Sq. Ft. - No Outdoor Space
6
2:30 p.m.
3 Bed
$3,900
31 Jenkins St.
1,300 Sq. Ft.
7
4:00 p.m.
2 Bed
$3,500
200 Silver St - Unit 3
950 Sq. Ft.
Apartments we can reschedule
Not available in Ali’s Schedule for Tuesday to see.
1
3 Bed
$4,200
795 E 5th St
1,308 Sq. Ft.
2
2 bed
$3,000
239 West 5th St.
700 Sq. Ft.
Further Details
The Application Process
When you & Jenna decide on the place you like, the next step to have you send me the following to submit a rental application. Each one is signed + submitted for each person, and contracts are digitally signed via email. From there, the landlord considers your application & says yes or no within a few days.
Signed Rental Application
Signed Broker Fee Disclosure Form
Signed Co-Signer Forms (Always a good idea if you’re parents are willing)
Picture of a driver’s license or any other government issued I.D.
Credit Score Reports (I’ll send you a link to complete this)
Paystubs/Proof of Income for the past three weeks
A letter of reference
A picture of a check for 1 months rent addressed to the apartments brokerage (varies by place)
Letter of job acceptance (only if transitioning into a new job)
Broker Fee disclosure
Broker Fee wise, here’s the full break down. It’s slightly complex due to how the market is structured and how I choose to operate - I charge 60% of 1-months rent for family & friends, and only 40% if it’s a certified apartment building (not controlled by agents). To break this down, a majority of apartments in Boston will charge 1 months rent as a broker’s fee - this is because they’re managed & marketed by real estate agencies, who get to set the fees.
That fee of one month (which I believe is too high, by standard) is split between two agents: the seller’s agent & buyer’s agent (in this case, me). Though I only take 60% of my fee, I only have control over half of the fee - the other half is owed to the listing agent. So for easy math, if the apartment costs $1,000 the fee would be $800 ($500 for the seller, and $300 for me, which is 60% of my half). The advantage that I have as an agent is that those I work with save 20% on the broker’s fee, where if someone rented the apartments without me, in almost all case they’d have to pay the full fee - even if they don’t use an agent. And I manage the paperwork, details, showings, etc.
With all that in mind, there’s for sure ways to avoid broker fees, but they greatly limit your choices, take a lot of time, and are very informal: Craigslist, Facebook Marketplace, friends of friends, etc. But it can be done. The reason I take a lower percentage for apartment buildings is that they often don’t take a listing fee, and occasionally pay the full broker’s fee themselves - this is called a finders fee. If that’s the case, I charge nothing, but this varies from building to building.
I stress absolute transparency, so please let me know if you have any questions about any of this! Messenger is fine for communication, but my cell is (508) 241-5757 so you have it. Cheers, and talk soon!