1. Our
Rental Services
2. Rental
Process step-by-step
Where to Advertise Cost
Efficiently?
Calling Prospective Tenants
Screening
Forms and Agreements
Evictions
3. FAQs
Our
Rental Services:
Allied American Real Estate LLC provides
complete personalized
assistance to individual
landlords and apartment complexes in need of a rental service. We specialize in
apartment and house rentals in cities/towns and coastal communities of Rhode Island. Whether you have
a property to lease and need qualified tenants, or you are looking to rent a property on your own, we will
assist with the actual rental or with free advice. Our experienced rental agents provide a professional service that saves time and
reduces the expense of renting your apartments.
The key to effective rental
process is the availability of a list of renters. To have this
list constantly available we have placed continuous ads proactively seeking
renters in several markets. Even before your apartment is
listed for rent, we likely have prospects interested in renting it. In order to
filter only qualified renters we conduct screening that includes criminal background
check, employment verification, and credit report analysis. Once the
tenant is selected, we administer the execution of rental forms and related
paperwork.
We provide two levels of service
that meet the needs of individual landlords and apartment complexes:
- Finder referral. In this
arrangement we setup an appointment for the prospective tenant while the owner
conducts the actual showing and administers the rest of the process. Unlike the
full rental service, finder's referral arrangement
does not include background checks and document assistance beyond what is
offered free of charge on our web site.
- Full rental service. In
this arrangement we find renters, conduct showings, screen the prospective tenants for
criminal background, employment, credit, past/present landlord references,
coordinate with any necessary state or municipal agency such as a local
housing authority, and administer the execution of tenancy-related
paperwork.
In both arrangements, it is advisable to call us 30 days before
the availability of your apartment so we can attempt to match renters on our
list with your apartment availability date.
Fees for our rental services
are contingent upon our success in renting your apartment and are paid after
the receipt of the first month’s rent and security deposit. Our fees are based on the
level of service and are among the most affordable in the industry. To obtain the
schedule of fees or to submit a property for rent, call 401-932-0372. In
your initial contact, we will provide you with common documents needed
in a successful rental process free of charge.
Are you an Investor looking to buy a property in Rhode Island or Massachusetts? Contact
us and we will perform a market research and analysis on the properties that are
potentially sound investments, how much you can expect for rent and what you would need to do to make the property a rental magnet at the maximum market rent.
Rental
Process step-by-step:
Where to Advertise Cost
Efficiently?
The key to effective rental process is the availability of a list of
renters. If the list is not available it needs to be compiled through advertising. This is the most costly and time consuming step in
the rental process. Not only that you have to spend $300-$1,000 on advertising
and hours on the phone with renters, but for the period that you spend compiling
the list of qualified renters you lose
rent revenue due to your apartment's 2 to 4 weeks vacancy. This lost revenue is often the greatest cost and one that is
most overlooked by inexperienced landlords. Therefore, the advertising campaign that will produce a list of qualified
renters in a timely
fashion and cost efficiently is absolutely crucial. The following are some
of the advertising channels that can provide the greatest return on your
advertising dollars:
- Riliving.com rental
classifieds, valleybreeze.com, sonewenglandhomes.com, and other online
classified web sites
- Housing authority having jurisdiction
over the location of the apartment
- Providence Journal, Pawtucket
Times, Woonsocket Call, and other local newspapers
- Nearby colleges and
universities
- Community development
corporations
- Local centers for independent
living
- Listitri.com, craigslist.org,
and other free listing web sites
Each of the above-listed channels has its unique process and forms for submitting a rental
listings. Contact us for more information on
how to list your apartments
through these channels.
Calling Prospective Tenants
Individual landlords often make a mistake
to wait for a prospective tenant's second
call. Our experience shows that after a renter calls the first time and leave a
message, they usually do not call repeatedly. The rental process at this
stage is similar to the regular sales process in which the sales person (rental agent) must establish communication with
prospects. Therefore, it is important to call prospective
tenants as many times as necessary to setup the apartment showing.
Otherwise, money and time spent on advertising are wasted.
Screening
Once you have shown the apartment to
prospective tenants you should have several rental applications collected from
the showings. Screening filters the applications of all applicants to
those who are qualified to rent. The following are some of the screening
methods we employ to filter qualified renters.
- Criminal background
check. Criminal records in Rhode Island are available for viewing at
no cost on http://courtconnect.courts.state.ri.us.
Since criminal records are a matter of public record, renters with a criminal record
often use various tricks to misguide inexperienced
landlords such as giving wrong or partial names, applying for an apartment
through a relative, etc. Contact us for instructions on how to avoid
these tricks while performing a criminal background check.
- Credit report analysis.
Credit reports uncover not only "bad debts" and delinquencies, but also existing public records. These
public records often include judgments for previous evictions. A
reliable and inexpensive source of credit reports is http://www.nationaldatasearch.biz.
Since credit reports do not include the most recent evictions (e.g. recent
several weeks), a check in the local district court may be prudent in the
case of a suspicious renter.
- Employment check.
Employers can be a great source of relevant information on a prospective
tenant. However, the most frequent way bogus renters trick
inexperienced landlords is giving phone numbers of their relatives and
friends. Our employment screening techniques have
proven that there is a practical and time efficient way to nearly completely
avoid these tricks in almost every case. Contact us
for instructions.
Assuming the employer is real, informative questions to ask are as follows: (1)
how long the person has been employed, (2) what is his/her current salary, (3)
what is his/her position within the company, (4) does the employer have any
problems with the person, and (5) is he/she likely to remain with the
company.
Forms and Agreements
- Rental application. Our
experience shows that rental applications that are too long (e.g. 2-3 pages)
distract renters and make them less likely to provide the information you
need. A clearly written and concise one-page application will provide
information that you need and make the filling easy for the renter. Click
here for a sample rental application.
- Rental agreement. We are
not licensed to advise on legal matters such as agreements and contracts. General
rental agreements that will suffice in most residential situations can easily be found
on the Internet by searching for "Rental
Agreements." Contact Blais Cunningham & Crowe Chester law firm
in Rhode Island for more information on Rhode Island specific rental
agreements.
- Mandatory lead paint
disclosure and booklet. All landlords in Rhode Island are required to
disclose the information on the presence of lead in the apartments they rent. The
following are links to some of the forms needed to comply with Rhode Island
disclosure requirements concerning lead: lead paint
disclosure and "Protect
Your Family From Lead in Your Home" booklet. This is not all inclusive list of lead related
requirements. Other forms and disclosures may be required as the law
changes.
- Move in/move out condition
checklist. This is one of the least used forms by inexperienced
landlords and one that takes least effort. It is the responsibility of
the tenant to fill it out. It gives the tenant
notice that should they damage the apartment they will be responsible for
repair costs. On the other hand, the condition checklist gives you a record of the
initial state of the apartment and repairs needed at the end of
tenancy. Click here to download the move in/move out condition
checklist.
Evictions
The most common type of eviction
is "non-payment of rent." As the rental market becomes more
costly for tenants, evictions become more prevalent. A common mistake by
inexperienced landlords is waiting for weeks and months for a tenant who did not
pay on time to finally pay rent. Strict collection policy is the most
effective way to increase revenue from your property. The body of law
(Residential Landlord and Tenant Act) governing residential landlord and tenant
issues in Rhode Island is available on http://www.rilin.state.ri.us/Statutes/TITLE34/34-18/INDEX.HTM.
For advice or to initiate an eviction contact
Blais Cunningham & Crowe Chester
law firm in Rhode Island.
FAQs:
We work diligently to understand and stay current with the status of today's rental and sales
markets. We study and anticipate trends in the housing markets and analyze
what causes the markets to gravitate a certain way. We pass this information on to
our clients so you can benefit from a premium up to date analysis of the current status in
the interrelated rental and sales markets. As rental agents the following questions are samples of what we are asked regarding apartments and the rental market.
When should I start preparing an apartment for rent?
Our experience shows that listing
an apartment two weeks prior to the date the current tenants move out produces
best results. We advise that you call your rental agent 30 days before you need to begin
tenancy in order to complete all the necessary preparations. Often renters
on our list are looking to start their tenancies a week to several weeks after
their initial contact. When you notify us early of your apartment's
availability date we can match the timing when prospective tenants
plan to move in and when you would like to rent.
How much should I charge for
the initial entry?
It is prudent to require first month's rent
and the security deposit. Many inexperienced landlords settle for only
first month's rent and no security deposit, or only first month's rent and a
promise by the tenant that they will pay security deposit in the future.
This is one of the FATAL mistakes landlords make. Seasoned rental professionals know that if the renter does not have first month's
rent and security deposit, they are likely to be evicted within the first
several months of the tenancy.
What are the common apartment
features most
renters look for?
All renters want a clean
apartment and it is difficult to rent an unclean
apartment to qualified renters. Renters usually prefer gas heat over oil
as it is relatively cheaper and requires no refilling. Often, an important
feature is the apartment's closeness to the public transportation (RIPTA, T,
etc.) especially for commuters to Boston. Some renters ask for laundry
facilities. Many apartments in Rhode Island have shared laundry facilities in the basement.
Rarely renters prefer to have their own washer and dryer so an apartment with
the "hookups" is
the least they would settle for. It is important to
some renters that the apartment building is owner-occupied. They feel secure knowing that the owner is on
site and property issues will be taken care of promptly.
Another important aspect of the apartment is the availability of the off-street
parking, which most tenants require by default.
Do I want to allow pets?
Many renters have pets and many landlords have strict rules regarding pets. In general, the stricter
your policy about pets, the more limited your pool of prospective tenants will be.
Our experience shows that most pets are well-behaved and do not cause damage to
apartments. If you decide not to allow pets, we advise to disclose
this initially as it can affect some renters' ability to rent the apartment. In the case
that you allow pets, the number of pets, their sizes, and breed are important to
consider.
What are the rental prices in
Rhode Island?
Prices vary by size of unit, location, proximity to public transportation, amenities, overall condition of the apartment and floor level. Rents range from
$550 to $850.00 for studios or one bedroom, $700 to $1,000 for two bedrooms, and
$800 to $1,250 for three bedroom apartments. Rents for 4+ bedrooms and houses can
range beyond $1,000. The specified prices are only general observations
as other factors affect rental prices such as the time of year, number of bathrooms, availability and the uniqueness of the apartment.
Apartments and houses in the costal areas of Newport, Narragansett, etc. can command considerably
higher rents.
Where can I find Rhode Island
specific landlord-tenant information?
Click here
to download the Rhode Island Landlord and Tenant Handbook.
