Move in Costs
Move in costs on Guam are pretty standard on Guam. Most landlords on Guam follow a basic procedure and basic move in requirements that is quite simple. The main move-in costs that you as the renter would need are security deposit, 1st month’s rent, power, and water. Notice, as a renter, when looking or moving into a place we help you with the whole process, and there are NO fees for real estate agent services with us.
Real estate agent fee
First of all, our services for the renters are free. We help you look for a place, help you with the paper work and coordinate everything with the owner to move in for free, no move in costs. Our services are paid by the owner of the Guam rental you select.
The standard norm that owners/landlords require before move in are the security deposit and 1st month’s rent. The security deposit in most cases is refundable if the condition of the rental unit is in good condition as per the terms and conditions of the lease agreement. For that reason, it is very important to have a move in and move out inspection so that owner and renter are in understanding of the condition of the rental unit. The standard security deposit for most rentals is equal to one month rent.
1st Month’s Rent
Whether you are moving in on 1st day of the month or the last day of the month, you only have to pay rent for the days you are renting. 1st month’s rent is prorated according to the day of the month. If you need to move in to your rental unit on the 16th of the month(half a month) you would only need to pay half the month(50%). So when considering to move into a new Guam rental, don’t worry about when you will be moving in, you will only pay for the days you are in the rental.
In most cases power is not included in rent. Owners/Landlords require that power be transferred/connected to the tenants name before the tenant can move in. The power company on Guam is the GPA(Guam Power Authority). The process of transferring/hooking up power should be done at least 2 days before the actual date of transfer/hookup at the GPA office and is one of the biggest move in costs. As of 4/18/2013 the transfer/hookup fee for new GPA accounts is $25 plus a refundable security deposit. The security deposit depends on the number of bedrooms in the rental. It is $100 per room including the living room. So a 3 bedroom house would require a $400 security deposit. When closing your account, the security deposit will be applied to your last bill. For more information, visit the GPA website: http://guampowerauthority.com/gpa_authority/rates/gpa_rate_schedules.php
Another requirement before move in is the transfer or hook up of water. Water company on Guam is the GWA(Guam Waterworks Authority). The process of transferring/hooking up water should also be done at least 2 days before the actual date of transfer/hook up at the GWA office. For water there is no processing fee, only the security deposit fee. The security deposit for water as of 4/18/2013 is either $32 or $52 for residential rentals. The fees vary on the type of wastewater hookup. Residential rentals with a septic tank waste water system is $32, and residential rentals with a sewer hook-up is $52. For more information, visit the GWA website: http://www.guamwaterworks.org/miscellaneous_charges.html