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The
housing search process is often thought of as overwhelming and complex.
With advance preparation and the proper guidance from an experienced
broker, you will find that the process can be efficient, and an
enjoyable way to be introduced to your new surroundings. Tory Row
Real Estate lists property for rent in Cambridge and its surrounding
towns and cities. Additionally, our long relationships with other
brokerage firms and landlords has allowed us to show perspective
tenants property in Brookline, Back Bay, South End, Beacon Hill,
The Waterfront, and Charlestown. Let us know what locations are
of interest to you, we would be happy to discuss the options.
Depending
on where you are relocating from, real estate rents in Cambridge
and surrounding cities may be higher than you are use to. The brokers
at Tory Row Real Estate will listen to your requirements, advise
and work toward meeting your expectations. If it is not possible
to match every point on a wish list, alternative options will be
made available. We encourage you to use our website to learn more
about the different areas we cover and the apartments offered. Please
call our office at 617.245.4025 to begin your search.
The
information below has been assembled to help you through the apartment
search process.
Using
A Broker
Anyone can search and secure an apartment without a broker. However,
information found on a website or in a newspaper is one-dimensional.
At Tory Row Real Estate, our brokers offer value that is multi-dimensional
and tailored to meet a perspective tenant’s particular needs.
Our firm is grounded in its ability to offer in-depth knowledge
and quality service. Our brokers live and breathe the market. We
begin by listening to your criteria. Not only do we search for and
present you with the various housing options, but we are also your
tour guides; showing you the local area, points of interest, and
sharing with you the eclecticism of the area’s rich history.
You’ll find our brokers wearing a number of hats in their
quest to find you the solution that fits. We are your pilot, directing
you to the shortest routes between two locations. We are your economics
whiz, providing comparisons between different housing types and
their rents. We are your coach, helping you strategize through a
diverse and complex market that moves frighteningly fast. We are
your history professor, educating you on past market trends. And
yet through the whole process, we never put you on the spot. Instead,
we take on the task of negotiating terms, conditions, rents, and
more with your future landlord. We pull all of the strings together
for you in an enjoyable and efficient approach in finding you a
place that you can call home.
Renting
Sight-Unseen
If you are unable to visit the area to view and secure an apartment,
here is a solution:
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Contact
our office via e-mail or telephone and describe your needs in
detail. You may search Tory Row’s property database online,
or one of our brokers will conduct a more thorough search for
you. Due to contractual reasons, we may not be able to publish
all of our listings online. Therefore, it is suggested that
you contact our office to learn about all possibilities.
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It
is recommended that a friend view the short list of interested
units. Additionally, we will take photographs and send them
to you via e-mail for your review.
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If
you choose to apply for an apartment, contact our office and
an application will be e-mailed or faxed to you.
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Upon
gathering the application and supporting documentation, the
lease will be prepared and delivered to you via e-mail or by
fax for your review and signatures. You will be required to
sign and return the lease to Tory Row along with any necessary
documents.
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Our
broker will instruct you to either overnight mail or wire the
necessary fees.
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Upon
our receipt of the funds and the lease, the landlord will then
sign the lease and receive the appropriate deposits. An executed
lease will be delivered to you for your records.
Broker
Contact
Our office should be contacted thirty to sixty days in advance of
a move-in date. Depending on the month, you will be advised as to
the best time to stop by and view available apartments. The rental-housing
inventory changes each month of the year. The busiest months are
May, June, July, August, September, November, and January. Timing
is everything; if you come too soon there will be little inventory
to choose from, and coming too late means that the choice units
have already been rented. Between your initial conversation with
us and your visit to our office, you will be updated on market conditions.
This is a good time to ask questions and begin to learn about the
area. Remember, be sure to discuss what is important to you: large
rooms, hardwood flooring, distance to shops, or proximity to the
T. After all, we are searching for an apartment to suit your needs,
not ours. The more we know about you, the better we can determine
the type of accommodation that is perfect for you and your lifestyle.
Prepare
the Appropriate Documents/Information
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Employment
letter and documentation verifying salary. This letter should
include names, addresses, and telephone numbers of your employer.
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Bank account numbers (checking and savings), Credit card numbers
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Names,
addresses, and telephone numbers of current and previous landlords
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Names, addresses, and telephone numbers of a personal reference
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If
you have a pet, pictures and written references from current
and previous landlords are helpful.
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Personal
Identification: drivers license or passport
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If you are self-employed or will be funding living expenses
by other means, bring tax returns, trust fund documentation,
bank/financial statement, or other appropriate documentation.
Required
Funds/Payments, & Finances
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With
the exception of some landlords, or an immediate move-in date,
personal checks are accepted. If you are relocating from another
country, bring traveler checks or contact us in advance to arrange
for a wire transfer.
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Upon
signing the lease, expect to pay first month’s rent and
last month’s rent, or first month’s rent and one
month’s rent for the security deposit. Some landlords
require first month’s rent, last month’s rent, and
one month’s rent for the security deposit.
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The
broker’s fee is typically one months rent. Although it
is sometimes divided between the landlord and tenant, be prepared
to pay the entire amount. The broker’s fee is due upon
signing the lease. If there is an arrangement between Tory Row
Real Estate and your employer, please bring it to our attention
before arriving.
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Some
buildings do require move-in/move-out fees. Typically these
fees do not exceed $500.
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To
qualify for an apartment, most landlords require that your annual
earnings be 30-40 times the amount of the monthly rent. For
your own planning, do not overlook other monthly expenses such
as telephone, utilities, food/dining, clothing/dry cleaning,
and entertainment. If you don’t qualify for an apartment
alone, some landlords accept a guarantor. Most landlords require
in-state guarantors. The guarantor will also need to complete
an application and demonstrate financial stability.
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We
work with many different tenants relocating domestically and
internationally; please speak to us at the beginning of the
process so that we may properly advise you.
Day
of the Appointment
You will meet with a broker who will review the scheduled apartments
to be viewed. The broker will drive you to each apartment and begin
to orient you to the area. Unless you are limiting your search to
a single family home or townhouse, the apartments will typically
be in hi-rise luxury buildings, pre-war buildings, elevator buildings,
walk-ups, lofts, and apartments in two family homes. Any of the
above buildings may be owned as a rental building or condominium.
The time of year may dictate the amount of inventory you will have
to select from. Due to high traffic and demand for apartments, time
may also have a bearing on how quickly you will have to make a decision.
Typically one is advised to act on an apartment they like, but they
should not feel pressured to take something if it does not suit
their needs.
Application
Process
Once you have selected an apartment, you will need to complete a
rental application. The broker will negotiate and work out lease
terms between the landlord and yourself. A credit report will be
run and your references will be checked.
Lease
Signing and Moving In
The standard Rental Housing Authority leases are written in laymen’s
terms, they are relatively easy to understand. It is recommended
that you read the entire lease and make sure you understand the
key elements such as: rent amount, term of lease, utilities, maintainance,
pets, garbage, etc. Leases are typically one year, although most
landlords prefer them to end at the end of an academic month (May-August
31st). The last step of this process is to make payment to the landlord
(first month’s rent/last month’s rent/security deposit).
The broker’s fee is also collected at this time. You will
leave our office with the appropriate information to contact the
landlord and arrange for the move in.
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