Renting in the Madison Area
There is a great demand for property in Madison. Apartments that are available today are likely to be gone tomorrow or, at times, even sooner. While your real estate agent will keep an eye on the market for you, you need to be ready to act quickly in order to secure your new home.
Renting an apartment in Madison can be overwhelming. To avoid confusion and frustration, it's a good idea to be familiar with the application process. You should also be aware of the various types of buildings and real estate terms in common use, as well as the different neighborhoods.
The Role of the Guarantor
If your salary isn’t high enough to qualify on your own, most landlords will allow you to use a guarantor. A guarantor is someone who promises to pay the rent if you cannot. If you’re a student, don’t earn the required salary, or have shaky credit, you might need a guarantor. The guarantor will need to provide the same paperwork as an applicant. Many landlords will accept additional security deposits and/or rent paid in advance instead of a guarantor.
All tenants (whether students, employees, or self employed) and guarantors must go through a credit and/or background check. It is recommended that you check your credit report prior to this process to find out if there are any items that might prevent a successful completion of your application. If your credit score is low, it is often possible to work with a landlord, either through a guarantor and/or additional securities.
Providing you with comprehensive, high-quality rental service is my top priority. So when you are ready to start looking, please contact me and let's get started!