When you’re thinking about moving to a new area, one of the most exciting steps you will take is finding an amazing place to live. If you’re looking for rentals, there’s a process that is pretty standard whether you’re looking for an apartment community or a neighborhood with ritzy condos.
The sooner you familiarize yourself with this process, the sooner you will get the keys to your brand new home.
The following tips will clue you in on the rental application process and what you should expect every step of the way.
Table of Contents
- What Should You Expect From the Rental Application Process?
- 1. They Will Check Your Credit and Background
- 2. You Will Fill Out an Application That Includes References and Job History
- 3. Provide Proof of Income and Employment
- 4. Pay Your Fees and Await a Decision
- Shop Around for the Best Rental for Your Lifestyle
What Should You Expect From the Rental Application Process?
So which guidelines should you keep in mind when you’re ready to put in a rental application? Here are some benchmarks you would do well to know in advance:
1. They Will Check Your Credit and Background
The vast majority of rental situations begin with a credit check and a background check. The rental community needs to know that you are trustworthy enough to pay your rent each month and that you also won’t be a nuisance to the community.
They are checking both your financial record and your character. Things like bankruptcies or liens can have a tremendously negative effect anytime you’re searching for a rental opportunity.
As a consumer, you should always be aware of your credit status for these types of situations. If you don’t know your score off the top of your head, you can always order a report and take a glimpse in minutes.
2. You Will Fill Out an Application That Includes References and Job History
Do your due diligence when filling out the rental community application. Your process will go by smoothly when you don’t make careless mistakes on the application.
Be prepared to provide references and give an account of your employment history. They need to see that you are stable and able to uphold your end of the leasing agreement.
3. Provide Proof of Income and Employment
You also will have to provide proof that you’re employed and that you earn the income you claim on the application.
Get your paystubs together in advance so that you can get your application in first and expedite the process. Other rental communities may ask for your prior years’ tax returns, 3 months of bank statements, or other proof of income.
4. Pay Your Fees and Await a Decision
Keep in mind that there will generally be fees when it comes time to put in an application. This is usually a small fee to cover the background check and credit report.
When in doubt, ask the company what the application fee is for, and whether or not any of it is refundable. Once approved, you will typically have to put down a deposit in order to secure your new rental opportunity.
Shop Around for the Best Rental for Your Lifestyle
When you consider the different facets of the rental application process, you’ll be well prepared to land the home of your dreams. It’s a renter’s market, so do your due diligence to snag the place you want to live.
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