Looking for a home to rent can be challenging, and when you find the perfect place, there may be several others who have discovered it too. Understanding the application process and being prepared can make all the difference in securing your ideal residence.
Have your paperwork in order: In addition to filling out an application, you will typically need the following documents.
•Photo ID (driver's license or passport), plus verification of your current and most recent past address.
•Proof of current employment and income information – this may include a copy of your latest bank statements, tax returns, and/or W-2's,
•References – including personal, professional, and from at least one previous landlord.
•Your personal contact information, including current address, phone number, email, and emergency contact.
•If the landlord allows pets, you will also have to provide information on your pet.
Be prepared financially: Don't waste the prospective landlord's time or yours. Whether you're looking at homes, condos, or apartments, search according to your income.
•Most applications come with an application/processing fee that covers a background and credit checks.
•If your application is accepted, your landlord will require:
•The first month's rent
•A security deposit, which may be equal to one month's rent.
•If they allow pets, there will also be a pet deposit.
•In some cases, your landlord may charge other fees or deposits for items such as utilities.
Be honest about who is renting: Your prospective landlord needs to know how many people will be living in his/her property and who they are. Fire codes and other government regulations must be followed.
•If you are planning on renting with a friend, you will both have to supply the required paperwork.
•If you are a family, they will want the names of each family member.
Co-signers: If you are a first-time renter, or your income is less than three times the monthly rent, you may still be accepted if you have a co-signer. Your co-signer must:
•Vouch for character and dependability
•Be in good financial standing
•Commit to cover the rent if you fall behind
Understand your lease agreement: Read before you sign. Ensure you understand the details, such as:
•Security deposits, rent prices, and lease dates.
•Who pays which utilities?
•Which repairs are your responsibility?
•Who takes care of the mowing/landscaping?
Don't lose the opportunity to rent your dream home. Be prepared to move quickly when you find the right place. It might seem like a lot of work, but when you move in, it will all be worth it. If you're looking for a great home to rent, visit the team at Rentals America. We can help you through the process of finding and applying for the perfect home. Once you are a resident, we have a suite of tools to make your rental experience the best it can be. Contact us today.