getting a townhome through a realty?
theres this complex of townhomes and one of the townhomes is for rent by a realty, so we went to the the realty place and put in an application for it, and the guy who i guess is the owner of the realty place said he needs to check our credit score which would take about a day then he’ll get back to us today before 12..around 1, we called him and he said something like hes waiting to get approval from the owner of the townhomes?…well my question is…if a townhome is owned by a realty dont they make the approval?? because after he said that i was kinda worried that was just an excuse so he doesnt tell us were not approved…does anyone know how it works?
Real estate companies rarely own properties they have for rent, they only manage them. Once your application is submitted and it meets the management companies criteria, the owner of the place usually needs to approve or deny the application based upon the real estate companies findings and recommendation. Depending on how easy it is to get a hold of the owner this process could take anywhere from a day to a week. Hang in there, they’ll get back to you, it’s not unusual.
Good Luck.
December 31st, 2009 at 3:13 pm
Sounds more like he was hired by the owner to find a tenant. That’s often the case.
Hang in there. It can take a day or two to get a decision some times.
References :
December 31st, 2009 at 3:41 pm
Sharon (answer above) is right. It’s very common for an owner to hire an agent to rent out a place. The agent does all the paperwork, but the final approval is up to the owner. You do not have to pay this agent for his work. He is paid by the owner.
It might take several days because the owner might be out of town or maybe they have several applications and trying to decide.
References :
http://www.century21homes2buy.com
December 31st, 2009 at 3:51 pm
Real estate companies rarely own properties they have for rent, they only manage them. Once your application is submitted and it meets the management companies criteria, the owner of the place usually needs to approve or deny the application based upon the real estate companies findings and recommendation. Depending on how easy it is to get a hold of the owner this process could take anywhere from a day to a week. Hang in there, they’ll get back to you, it’s not unusual.
Good Luck.
References :
REALTOR – 5 years
Property Manager – 9 months
Hampton Roads, VA USA
December 31st, 2009 at 4:21 pm
The realty company doesnt not own the townhome. There were hired on a commision basis to local a renter for the townhome. It sounds like when he pulled you credit you were probably a little bit under the credit score that owner of the townhome was asking for. Therefore he is asking the owner will you make an exception in this persons case seeing that the almost made the requirements. Hope I helped.
References :