A rental application is a document that you must fill out when applying for a residential property for rent. This application usually asks for your basic information, such as name, contact information, employment history, and credit score. Once submitted, the landlord uses this information to decide whether or not to approve your application for the rental unit.
What do you need to rent an apartment?
It is only half the battle if you can find a suitable apartment to call home. This is because, after that, you also need to convince the property manager that you are the appropriate tenant for the residential property for rent.
Generally, landlords prefer tenants who are responsible and reliable. So, if you are considering renting your dream apartment, how do you prove to the landlord that you are the right candidate?
Submitting the following documents with your rental application can help you become the ideal tenant.
1. Pay Stubs
When you’re applying for a commercial property for lease, you’ll need to provide proof of income. The most common way to do this is with pay stubs. Your landlord will want to see your two most recent pay stubs, so ensure you have them on hand when you’re ready to fill out your application.
If you don’t have traditional employment, there are other ways to show proof of income. For example, you can provide tax returns or bank statements if you are self-employed. In case you receive government assistance, you can provide a letter from your caseworker.
Therefore, no matter your occupation, there’s a way to show your landlord that you can afford the rent.
2. Bank Statement
A current bank statement will show the landlord how much money you have available to pay rent. This is an essential document for a rental application because it demonstrates that you have the financial resources to make rent payments on time.
In addition, a bank statement also shows whether or not you have any outstanding debts or bounced checks, which could be red flags for a landlord.
3. Employment History
Employment history is one of the most important things a landlord will look at when considering your rental application. A steady income and a good work history are critical factors in determining whether or not you will be approved for the rental.
Therefore, be sure to have your most recent pay stubs and W-2 forms available to show the landlord. Additionally, if you have any gaps in your employment history, be prepared to explain them.
4. Personal References
Personal references can vouch for your character and rental history when getting a commercial property for lease. A personal reference is somebody who knows you well enough to answer questions about you as a person rather than just as an employee or tenant.
A good personal reference can be a friend, family member, neighbour, or even a previous landlord. They should be able to speak for your character and habits and whether you were a good tenant. In addition, personal references can be beneficial if you don’t have much rental history or are moving to a new city.
To get started, ask the potential reference if they’re willing to provide one. Once they agree, give them your contact information and your potential landlord’s name and contact information.
Conclusion
There are many rental properties in the market, so you do not want to miss out on a lucrative opportunity while rushing to gather documentation. So, before you look for an apartment, gather all the mentioned documents and place them in a folder.
Furthermore, it would be beneficial if you could fill out the application for the residential property for rent online before you leave the house. Also, if you are sleuthing on foot, do not forget to carry a folder with you in case you might need to apply for a rental apartment on the spot.
Happy house hunting!