Things To Know Before Filling Rental Application
Filling a rental application is the initial process of settling into a rental home of your choice. The process requires supporting personal and financial documents in order to get approval for moving into the unit. Being prepared and educated about the process of rental application can save time and speed up the process.
If you are new to filling a rental application, here are some things to know about the process:
- Make It Impressive: The rental application is your chance to cast a great impression as a potential tenant. You can do this by diligently providing the information required e.g. driver’s license number, employment information, etc.
- Documentation: Ask the property owner in advance about the documents required when filling the application form. Examples of documents required are a photo ID, copies of the previous pay stubs, previous bank statements, last two tax returns, last two W-2 forms, asset documents, contact information, pet information and more.
- Co-signer: A co-signor guarantees to pay the rent on behalf of a renter where there is no account of rental history or no commitment to paying bills and monthly rent (If the monthly income is not sufficient to pay rent). Also, if there is a situation that needs additional explanation in the application you can send a cover letter with more information on the condition to increase the chances of the application’s acceptance.
- Personal References: You can significantly increase your chances of acceptance by attaching personal references from previous property owners, friends or colleagues who can vouch for your dependability and character. This is great for those with no previous rental history.
- Duration of Approval: Once a rental application is submitted, the property owner may run a background and credit check to verify your rental history and employment status. This could take around 24 to 72 hours or more. However, you can ask the property owner for an idea on the duration for a reply.