Working with a realtor to find a rental takes the heavy lifting off of you to find a rental. Instead of you spending hours trying to find the perfect spot, you can send your agent listings that you’re interested in and let them do the heavy lifting. This also means you’ll always have someone on your side looking out for YOUR best interest.

It’s completely free to work with a realtor in Philadelphia!

The processing time is generally up to the rental listing agent or the landlord. This process can take anywhere from 24 hours to a few days.

Generally, application fees cover the costs to run your credit report, background check, or the necessary time and costs associated with your application.

Most financial experts recommend that you spend no more than 30 percent of your gross (before taxes) monthly income on housing. Many landlords state on rental applications that they want an applicant’s gross income to be three times greater than the rent. However, there is no one-size-fits-all model, and the best way to decide how much of your income should go to rent is to write out exactly how much you earn each month, how much you spend on living expenses and how much you want to save.

If you have low or no credit and you've never rented an apartment before, you might need a guarantor, also known as a lease co-signer. Keep in mind that your new landlord will ask for a lot of information about your cosigner's finances, and your cosigner will be on the hook if you don't pay your rent

Be honest (and communicate well) if you have a low credit score. It may be beneficial to write a letter of explanation as to why your credit score isn’t great. This method works best when you’re dealing with individual landlords as opposed to a management company that might not have flexibility.

As a rule of thumb, renters should start looking for apartments 60 to 90 days before moving.

The biggest difference between a condo and an apartment is ownership. An apartment is a residence that is rented, often as part of a larger residential building. A condo is similar in structure to an apartment — usually a unit within a larger residential building, but each unit in the building is privately owned. Both condos and apartments can be rented, however a condo will be directly owned by a landlord rather than a management company.

There is no certain income requirement to rent apartments and homes in the Philadelphia area. Each Rental is different, and landlords or management companies may have different requirements for their ideal tenant, which apply to every renter applying for a particular property.

This will depend on the lease agreement that you sign with your landlord. Most of the time, a landlord will agree to pay for repairs over a certain price point. However, you should review your lease with your TCS agent before signing so you have a full understanding of each party’s responsibilities.

Some landlords will ask for everything, and others will only ask for a few. You can expect to pay an application fee and answer questions about your current job and salary, your rental history, and if you have a co-signer.

A security deposit is a sum of money that a new resident gives to their landlord or property management company in addition to their advance rent payments. Think of a security deposit as insurance against unforeseen circumstances and damages. All tenants will get back their security deposit back within 30 days of moving out unless there are damages.

It’s fairly common to require this upfront, although some rentals require less than others. Generally, security deposits are due at signing to help you secure your rental. This helps the landlord make sure you’re serious about leasing the unit.

Consider the worst-case scenario, could you afford to replace your entire closet if your house caught fire? What about your laptop, iPad, or cell phone? Renter’s insurance covers your personal property (whether you’re at home or traveling), offers liability coverage, and can provide housing after a disaster. Check out our trusted renter’s insurance company here.