Increase Your Chances of Application Approval.
Applying for an apartment can be exciting and stressful at the same time. What most applicants don't know is that landlords have strict processes and procedures they follow to determine eligibility and lease approval. Fortunately, you have to come to the right place to improve your chances of getting approved for your rental.
Please note that different landlords and rental companies will have their own unique set of approval criteria.
How to Apply for an Apartment?
Applying for an apartment is not as simple as completing a form and then you receive approval. You should educate yourself on how you will be evaluated and be sure to make the right impression. Remember, landlords, are looking for reliable tenants. The most qualified applicant will be the one who can complete the entire lease and pay the monthly rent on time.
To determine whether you will meet these requirements, landlords will validate the information and documents you provide on your application. Your credit history will be checked to examine your finances and repayment history. Landlords will also perform a background check to verify the information on your application.
Answering questions honestly on the application and having your documents up-to-date and in order can improve your chances of approval.
Inquiring about the necessary information or documents needed prior to filling out your rental application can help ensure you are prepared, which can also increase your application approval. While filling out the application accurately and having all the documents does not guarantee your approval, it can help leave a positive and strong impression on a potential landlord.
Knowing Your Renter Status
Apartment approval also depends on your renter status. Are you looking for affordable housing? Do you have negative credit history or maybe no credit at all? Are you looking for a second-chance apartment? Do you need an income-based or income-restricted apartment? Research and understanding the type of renter you are will help you make the best decision based on your individual situation. Questioning yourself before completing an application is like doing a personal intake survey, this way you are already aware of your strengths and weaknesses.
It is important to make sure you apply for apartments that suit your lifestyle, financial history, and your family or personal needs.
Affordable Housing Renter - Affordable housing covers a variety of different types of rental apartments, townhomes, homes, and other types of dwellings. Affordable housing is great for low-income renters who may need financial assistance, public housing, Section 8 or participate in other government-funded programs.
Second-Chance Housing Renter - Second-chance friendly properties are for renters who may have bad credit history, rental collections, history of evictions, some criminal background, filed bankruptcy, and/or other difficulties that would otherwise prevent an applicant from being approved for an apartment with traditional requirements. Second-chance apartments are also good for first-time renters who may have no credit or rental history.
Traditional Housing Renter - Traditional apartments have standard leasing requirements for income and background. Typically traditional apartments have requirements on the amount of income you need to make as well as guidelines surrounding approval as far as rental evictions, collections, and bankruptcies. If you have good rental history and steady income then traditional renting would be the choice for you.
More often than not when applying for a rental, your landlord will perform a credit and background check. In addition, when applying for an apartment you will be asked to provide proof of income which helps determine your financial eligibility, Generally, the rental application process is pretty straightforward