How To Find The Right Rental Property For You
It’s no surprise if anyone’s fallen in love with Guam. You’ve realized that you simply want to be a part of Guam’s beautiful scenery, rich culture and warm people. Moving to Guam is perhaps the most exciting and the best decision you’ve made, but settling in can also be quite a challenge.
If you’re not sure how to go about finding the right rental property for you, follow these simple steps and get started today!
We’re Here to Help You
Ellen’s Realty has been helping property owners find tenants in Guam since 1997. Our pool of real estate agents are professionals, seasoned and highly trained in providing excellent service to all our rental clientele, including those with special benefits like military overseas housing allowance and other government programs.
Choosing an agent
Ellen’s Realty has a sizable team of experienced real estate agents, with each member having their own individual skill set and distinct personality type. It is important to work with an agent that share the same work ethics and you are comfortable with so you can communicate your goals effectively.
Identify your needs
Real estate agents will be happy to provide you with all the necessary information and trends related to the current real estate market in Guam. This will help you select the properties that suit your requirements. Feel free to tell your real estate agent all about your needs and expectations. Your agent would want nothing more than to find a property that is well-suited to your personal requirements.
Meet the qualifications to rent
Some property owners or landlords ask for credit reports from potential tenants over the age of 18. It is highly recommended that all co-occupants make sure to update their credit reports prior to any negotiation. Prepare additional funds as well to cover for the one month rent in security deposit as well as the first month’s rent. A pro-rated amount will be computed should the move-in date be midway through the current month.
Check out some properties
You’ve determined your target price and other rental requirements, now it’s time to look for your rental property. Many tools are at your disposal when searching for property. Most people begin their search online and discover Ellen’s Realty webpage, which is a premium one-stop shop for those searching for property to rent. The site is easy to navigate and is up to date with the latest listings and covers almost all of the prime areas on the island.
Others go old-school by simply driving by neighborhoods and check out “For Rent” signs. There are also some who look through real estate magazines for rental ad placements. You may use some or all of these methods, but your real estate agent will have some leads of his own that can help you in this process.
Tour the potential rental properties
Your real estate agent can help make arrangements with you to visit and check out the properties that you’ve selected. While on tour, make sure to ask questions about the property’s owners and former tenants. Know about the surrounding neighborhood. Take notes and photos. Narrow down your selection to 2 or 3 potential properties and re-visit them at different time of the day, at night and even on the weekend just to give you a first hand idea of the neighborhood.
Sign the Lease or Rental Offer
As soon as you and your real estate agent have selected a property, discussed all the conditions related to the rental, and determined a rental price that you are willing to offer, you will draft and sign a lease or rental offer to be presented to the property owner for consideration. Keep in mind too as you’re preparing your lease offer that there are other tenants interested in the same property to rent.
The owner may either consider and accept the offer you presented, counter some aspects of your offer that may or not be agreeable to you, reject your offer or simply let your offer expire.
As soon as you receive a Counter Offer, discuss the pros and cons with your real estate agent. Work out a strategy on how to move forward with the negotiations. The end goal is an executed lease or rental agreement that both parties can accept and be happy with. Bear in mind that some owners prefer to negotiate terms verbally and in person. This often leads to further revisions of the lease offer for consideration. A lease is not binding until it is fully accepted and executed by both parties.
Check out existing property conditions
Contracts are usually dependent on inspections, repair work that needs to be done and many other factors. Your real estate agent should be able to help coordinate these efforts to make the entire process as easy and as seamless as possible.
Schedule your move-in date
Once all both parties have satisfied all the conditions of the contract, you can schedule the date you can move in. You will receive the keys to the property and a copy of your lease documents.