Rental Application Requirements

Rental Application Requirements
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Finding an apartment or house to rent can be a long and exhausting process. Often, there are so many choices that making the decision about the right home for you can seem impossible. Once you have made your decision, you must fill out an application before being able to sign your lease and move in. Rental application requirements differ between landlords or property management companies, but many rental properties have certain application requirements in common.

Credit Check

Many landlords will require a credit check before agreeing to rent to a potential tenant. You may need to fill in an application with your personal information, including your Social Security number, your date of birth, driver's license number and address. Some rental offices have the means to run a credit check while you wait, whereas others will call you to let you know the results. Your credit score can affect your security deposit amount, and a low score might mean you don’t qualify for any move-in specials.

Rental History

The rental agent might ask for information on your rental history. This is so he can check with your previous landlords to see if you left owing any money, whether or not you paid your rent on time, whether you broke any rules such as having an illegal pet, and whether there were any noise complaints against you from neighbors.

Employment Verification

The amount of money you need to make per month to qualify to rent an apartment or house depends on the management company’s policies and the monthly rental price of the home. Some places might require that your monthly gross income equal up to three times the monthly rental price. You might be asked to provide the leasing agent with your last two pay stubs, or she might need to contact your employer to verify your income.

Background Check

Some rental properties require residents to have a background check before they can sign a lease, whereas others do not. Many property management companies will require proof that a potential resident is not a felon before they will approve the application.

Application Fee

Since rental applications cost the property management company money, they often add an application fee to offset the cost to them. There is no set amount for a rental application fee. The amount depends on the management company’s policies.