If you are going to rent an apartment, there are some things you need to know. This guide lists what you need to know about the apartment application process.
Are you looking to rent a house and wondering about the steps you need to take?
First things first, renting offers unique benefits of over homeownership. It’s an ideal living option if you aren’t ready to buy a home and offers great flexibility, especially if you’re a young person who might want to relocate to new places often.
So, how do you actually rent a house? Do you just identify a house and call up the landlord and sign the documents?
Here’s a look into the apartment application process.
Start House Hunting
Before you apply for an apartment, you first need to find it, right?
It helps to go into the hunting process with a clear picture of the kind of apartment you want. Do you, for instance, need a studio apartment? Perhaps a 2-bedroom unit?
What about the features? Would you love an apartment with an open or closed kitchen? What about the type of flooring? Do you want to live in an apartment where you can keep a pet?
With this information, it’s easy to find an apartment that will suit your lifestyle.
Get in Touch with the Landlord/Property Manager
If you were house hunting on the web and you’ve found an ideal apartment, get in touch with the person on the contact information. This could be the landlord or their property manager or caretaker.
Schedule a visit to the place. It’s important to physically view the property before taking the next step. If you like what you see…
Fill Out the Rental Application
The property owner or manager will give you instructions on how to file your rental applications. Most apartments have online portals where prospective tenants fill out an application, but don’t be surprised if you’re given physical paperwork.
Application forms vary, but you’ll typically need to provide your name, current address, phone numbers, photo ID, emergency contacts, professional references, and landlord references. You will also need to provide information about your job and income.
If you’re formally employed, this shouldn’t be a problem. But if you’re self-employed, you might be unable to provide proof of income. Worry not, though.
It’s easy to create a real pay stub that you can submit along with your application.
In most cases, you’ll be required to pay an application fee, which funds the tenant screening process.
Expect Background Checks
Landlords want to ensure they’re accepting applications from quality tenants.
To establish whether you meet their criteria of a quality tenant, they’ll perform a number of background checks, including criminal background and your credit history.
If you have a criminal record, it’s unlikely that your application will be approved. The same goes for when you have a bad or poor credit history.
If your income isn’t satisfactory, you could be asked to find a cosigner. This is someone who agrees to bear financial responsibility in the event that you’re unable to pay your rent.
Once your application is approved, go ahead and sign the lease agreement.
Get Familiar with the Apartment Application Process
More and more Americans are opting to rent, which means competition for the best apartments is getting tighter. Getting familiar with the apartment application process can give you an edge.
Stay tuned to our blog for handy tips and hacks.