Are you looking to Rent on Guam?
Here is a quick guide.
Income: Landlords will require the whole household/ all applicants to have a total income of at least 3x the amount of the monthly rental. For example, if you are trying to rent a $1,000 dollar unit, landlords will require your whole household/ all applicants to have at least $3,000 of monthly income.
Paper works: We will require you to fill out a rent application that will ask you for your rental history, employment history, and references. We will also need an ID along with your VOE &/or check stubs (at least 1 month proof of income). Rent applications are required for each tenants over the age of 18.
Selection Process: Landlords will look at your rental history and employment history. They will want to know why you are looking for another place. They will also want to know that you have consistent income coming in. They will also consider the lease term that you want to propose.
Move In funds: To move in you will need to put down a Security Deposit which is equal to the first month's rent & the payment for the first month's rent (pro-rated). For example, if you are looking to rent a $1,000 unit, the security deposit will be $1,000. First month's rent will also be required and is pro-rated.
Timeline: If you are moving from one rental to another, it is best to communicate to your Realtor when your lease ends. If you break your current lease early, you can lose your security deposit. If you are month to month, do give your current landlord a heads up that you are looking to move out once you find another unit.
Utilities: Once your lease is accepted and signed, utilities will need to be transferred under your name prior to you moving in if it is not already included. If you are looking to get into a condo or apartment trash collection is already included and you will just need to transfer the power and water. If you are going to rent a house, you will most likely need to also pay for your own trash collection if it is not already included.
First Time Renters: If you are a first time renter, it maybe harder to find a place because landlords will look at your rent history. One tip I can give you is to have a Guarantor attached with your rental application. If you are accepted as a first time renter for a unit, when you make a new account to transfer for utilities, they will ask for security deposit and application fees. So, do account that in your budget.
If you are looking to rent on Guam, message me at 671-747-0599 or email me at carranzajoanna2@gmail.com.
Comments