Be Prepared For The Rental Application
Your application process will be much faster if you gather all of your documentation right away. To move fast to be accepted for the property you will be applying for it is ideal to prepare and assemble documentation beforehand. Below is a list of the documents you will need.
Here’s What You'll Need
Identification
Any document that may be used to prove your identity. The best options are your driver's license, passport, or other government-issued ID that includes a photo and the date of birth.
Social Security Number
The main purpose you'll be requested for your Social Security on the application is for identification reasons. Landlords want to make sure you and confirm your identity, so they'll need to match up your name with your Social Security number.
Pay Stubs or Documents To Verify Income
Most landlords will request your most recent pay stubs. You can find your direct deposit pay stub online or ask your boss. If you receive a paper stub along with your paycheck, please only give a copy and not the original. Many people aren't able to make a regular income due to the number of gig workers and independent contractors. This is the case for you. Be prepared with client contracts and 1099s. Tax returns are also acceptable.
Your Rental History
The rental history report can also include information on the applicant's past addresses, rental rates, dates and occupancy, payment history, as well as compliance with lease requirements. A rental history report can sometimes be more useful than a credit score in determining a tenant’s ability to pay. This is because it focuses on rent payments. Have prepared your former 2-3 previous addresses, names, and contact information for former landlords or property managers.
Personal References
You should have prepared additional references that attest to your character and contact information. A list of personal references is required by most landlords and property owners as part of an application. This allows them to confirm who you are and to get to know you. It also helps them gauge whether you will be a trustworthy tenant. You might also want to find out about your potential landlord.
Payment For Application Fee
The rental application fee is a fee that landlords collect in addition to a rental application. The fee is used to pay the hard costs of processing the rental application, such as the cost for running a background check. In certain cases, fees may also be used to cover the soft costs associated with running a background search.
Co-Signer Information
Make sure you have the contact information and name of anyone who will be co-signing your lease. If you are unable to pay rent due to an emergency, a cosigner can help you get it. A co-signer may be required by a landlord to let you occupy an apartment. If you are low-income, have a poor rental history, or have bad credit, this is a common requirement. A co-signer can give landlords more confidence in letting you rent an apartment.
Credit and Background Checks
Property managers and landlords will also conduct credit and background checks. You can check your credit score online for free to make sure you aren't getting caught. An apartment background check can include a national background check, credit report and eviction history. Some landlords or property managers may run several screenings. Applicants will need to sign a consent form to have background checks performed. Your credit score is used to evaluate your ability to pay rent on-time. Landlords also verify that you have not owed rent to previous landlords. Landlords may be able to access key financial information, such as your credit score and creditworthiness.
Try To Bring The Following To The Showing:
Suppose we find something we want to be fast to have a better chance at getting the property. If you are a student, have worked less than a year at your current job, or have poor credit, the landlord or management company may ask for a cosigner. A notary public must notarize cosigner forms.
Photo ID
Two recent pay stubs
Your checkbook
If you are an international student, you will need an I-20 to show your status as a resident living in your selected location.
If you are starting a new job, you will need a letter of employment.
If you are a student, you will need a letter of enrollment.
The name and contact info of your current landlord