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Rental Basics in Albuquerque : Real Estate Advice

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  • Local Info32
  • Home Buying155
  • Home Selling43
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Activity 13
Tue Mar 21, 2017
Abby1292 asked:
My husband and I are moving to ABQ this summer, and are hoping to move in to a rental home mid to late May. It seems as though in order to rent a home, we have to be ready to move in right…
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Sat Feb 25, 2017
Jerry liggett asked:
im trying to rent this property & she wants me to deposit money in a account & she will mail me keys please let me know thanks
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Tue Jun 7, 2016
Sally Grenier answered:
Are you buying or renting? (you posted under "Rental Basics in Albuquerque"). If you're a renter, then there really is no "pre-approval" process like there is with buying a home. When you buy a home, you have to get pre-approved for a mortgage. That's not the case with rentals. Every rental property is different. Property management companies and/or individual landlords will likely want you to complete an application and go through a background or credit check. ... more
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Fri Oct 3, 2014
Murphy Team answered:
Once a lease is up the tenancy usually becomes month-to-month. If both parties agree to renew a lease then a new lease is signed.
0 votes 7 answers Share Flag
Tue Mar 11, 2014
David Wedding answered:
It's NEVER too early to start looking. Viewing listings online is almost as good as being there. Have a REALTORĀ® send you some listings and suggest areas to you. I do that regularly with clients who get here and decide that the house is not good for them, but at least they've gotten a feel for the market. ... more
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Wed Jun 13, 2012
Leigh-Jo Anzures answered:
Hi Cynthia,

You can try web sites such as:

http://albuquerque.craigslist.org/apa
http://www.ammre.com
http://www.tysonproperties.com
http://www.rentals.com/New-Mexico/Albuquerque

Be careful when using web sites such as craigslist. There can be scams on that web site. Be sure to check out all potential owners/landlords.

Best Regards,

Leigh-Jo
Syan Real Estate
Call/Text: (505) 730-8181
... more
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Tue Mar 6, 2012
David Stafford answered:
Leigh Jo's advice below is excellent and very timely! There are way too many scams out there, especially if you heard about the property through Craigslist. I would recommend you read the entire lease agreement and ask any questions that occur to you. If you have many questions, consult an attorney who is working for you for the answers. The market is competitive out there right now for renters. As a landlord, I can tell you things that make a candidate appealing to me: a complete and legible application, showing steady and verifiable employment; a history of staying in one place more than just a few months; a willingness to use auto bill pay or direct deposit to pay the rent; not a ton of pets and/or cars. Also, I am always open to being more negotiable if the tenant will advance pay rent. Since my properties are near our university, I occasionally get offers to pay for full semesters of rent with money from parents or student loans and that always goes a long way in helping me choose those tenants and even negotiating a small rent discount sometimes. Being flexible regarding move in dates and lease terms can also help your position too! ... more
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Mon Jan 2, 2012
Scott Asbill answered:
Only a suggestion. Since your not close enough to door knock or collect in person perhaps higher a property manager? This way you would have someone local on your side. I bet the tenant would change their mind if informed that they will need to sign a new lease whether they stay or not and their deposit has been transferred to a management company. The management company could then start making inspections and documents and represent after you file a small claims court case for eviction and rent. If the tenant can't afford to move out unless you give them money how are they going to pay for the next place? Sounds like the process won't be a good one. The property manager can give the three day notice for inspection or showing as required and be present if there is a showing with a buyer's agent having an officer there the first few showings would certainly send a message. Been there done all that, lots of stress. ... more
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Tue Oct 11, 2011
Realestate answered:
I'm sure you have been answered by now but the bottom line is, you have to pay rent. Because you don't have a rental agreement you are on a month to month and they can give you a 30 day notice to vacate.

Wish the people that answered prior would have some guts instead of just saying 'talk to an attorney'.
... more
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Fri Sep 23, 2011
Kurt Grosse asked:
They're going to the doctor tomorrow but want to stay. I want them gone. They want their security deposit as last months rent claiming they can't afford to move or they need a…
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Mon Jun 13, 2011
Michael Emery answered:
That is a question that is best left to your insurance agent. They can tell you if the policy you own will cover renting the property and also will spell out any liability issues - including limits to your liability. You would also want your renters to have rental insurance to spread out your liability. ... more
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