How to Fill out a Rental Application
Whether your hunt for the right apartment has been short or long, knowing how to fill out a rental application can greatly simplify the moving process. Knowing exactly what you need, and what you’ll need to know, before you begin the application process will save you precious time. Below, we’ll go over some of the basics in a typical rental application, as well as what kind of documents and information you might need to have on hand.
Rental Application Checklist
To help you navigate the renting process, we’ve put together a rental application checklist:
1. Fill out the rental application
If you’re interested in renting a property, the first step would be to contact property management by filling out a rental application.
If you plan to have roommates or a co-signer, they also have to fill the application. To put it simply, any person intending to move to a rental place requires filling in a separate rental application form.
The application form is available online, or it can be filled out in person — most properties offer both options.
However, there is no set format; every rental form differs from the other. But some standard rental application requirements include name, address, previous address, phone number, and various other fields.
2. Pay the application fee
The rental application fee includes the screening fee of the potential renter.
Moreover, the lease application fee also differs based on numerous factors like building, area, landlord, etc. In some instances, it’s also supplemented by the processing fee.
Therefore, make sure to ask your agent about every applicable fee accompanying the application process. Also, ask them about what may be refundable.
3. Expect background and credit checks
The lease application process also means that you agree to a variety of background checks.
How far these checks may go back depends on the owner’s discretion. But, typically, their main focus is to ensure that the potential tenant has no criminal history.
Other than that, the candidate’s credit history is taken into account to deduce if timely payments would be made. One of the best and the easiest ways to do this is by checking credit scores.
4. Prove to the landlord that you can afford the rent
Many landlords may ask for pay stubs, tax returns, and other kinds of receipts to validate proof of income or employment.
Based on your job, the landlord may ask for copies of W-2 forms, client contracts, and recent bank statements.
Credit and employment checks can typically take up to 72-hours to complete. Plus, the application processing time also differs based on property, so ensure to get the perfect estimate.
5. Find out if you will require a co-signer
The co-signer is an individual with a good credit score who acts as your willing guarantor. In case you have a compromised credit history or fail to pay your dues, the co-signer will have to settle the payment.
Co-signers may step in when new tenants have no means to pay monthly bills and/or rent. Additionally, you may require a co-signer if your monthly salary is less than 3-times your rent.
Apart from that, they can leverage your application and increase approval chances. So consider it as your additional referral.
6. Show your property owner that you’re a friendly renter
Typically, property owners would love to know what kind of enter you are from your previous landlords.
If you feel it’s necessary during the process, you can always attach a proprietor reference along with your lease application as a means to improve your approval chances. For some landlords, providing a previous landlord’s referral is obligatory.
Documents Needed For Rental Application
Gather the following documents before renting a property. Additionally, if you’re planning to move in with roommates, make sure they do the same.
Some property owners will ask you to provide all these documents, while others may ask you to provide a couple.
- Photo ID
- Phone number
- Income and employment information
- Past address
- Emergency contact information
- Background information
- Landlord references
- Professional or personal references
As a leading company in property management in Greensboro, NC, we strive to provide quality services for both property owners and tenants looking for rental homes. Our team at SLT Properties offers premium rental property management in Greensboro, NC, and surrounding areas in the Triad region. Browse our available properties, and make sure to visit our blog section, where you’ll find valuable information on what to ask when renting a house, the importance of the tenant-owner relationship, and much more. If you have any questions, please contact us today.