Once you have found an apartment, the next step is to apply and then sign the lease.
The application process is a landlord’s way of screening for the most-qualified and least-risky future tenant. By looking at your background and finances, a landlord can have a better idea of what kind of tenant you’ll be and if you’ll be able to pay rent on time each month. Often, landlords may have a management company or real estate agent work on the screening process for them.
As a renter, there are a lot of different documents to prepare, so it’s best to begin collecting necessary documents. You should also putting aside enough money in a bank account prior to the start of your apartment search. If you get approved, you need to pay the first month rent and one month rent security deposit due lease signing.
Here are some of the most common questions on an application form you should be prepared for:
- Your annual salary/ income
- Social security number
- Employment history
Some of the more common and supporting documents are:
- Photo ID (password or driver’s license)
- Letter of employment with your job title, length of employment, and annual salary
- Copies of last two to three pay stubs
- Copies of the last two tax returns
- Letters of reference from past landlords/employers/guarantors – please include their contact information*
*These can be optional (though submitting these will provide you with a stronger application)
Usually a non-refundable application fees will be collected with the application and supporting documents. This fee covers the costs to run a credit check. It is max $20 per person (see Tenant Protection Law) and is due for every applicant.