Second Chance Apartment Applications
Updated: Mar 8, 2022
(DISCLAIMER: ALL RENTAL COMPANIES HAVE THEIR OWN EVALUATION METHODS AND THE APPLICANT WOULD NEED TO CONTACT THEM DIRECTLY TO UNDERSTAND THEIR APPLICATION STATUS.)
Applied for a Second Chance Apartment? This is why you may have been denied.
Second chance apartments are great for first-time renters and even persons who want a budget-friendly and safe apartment to rent. If you have applied for a second chance rental and you’ve been recently denied, you may be wondering what went wrong? You’ve completed the forms and submitted your application on time, so why were you denied?
Applying for an apartment is an exciting process but involves many procedures that can be difficult or confusing to understand. To help you secure your second chance apartment, let’s look at common reasons for the denial of your second chance apartment application.
What is a Second Chance Apartment Application?
A second chance apartment is for potential renters who may have a less than desirable rental history or credit background. Perhaps you have been previously evicted, experienced bankruptcy, or can’t afford a traditional apartment. Second chances are available to help you find a place you can afford and call your own, and we all need second chances in life!
The second chance application works a little differently from a traditional apartment application. A second chance apartment application will include additional requirements to determine the reason for your second chance interest.
What Can I Expect in a Second Chance Application?
To help landlords and property managers choose tenants who will pay their rent on time and fulfil the conditions of the lease, it is important that a formal assessment of an application is completed. We look at what you can expect to be covered in a second chance apartment application.
Your future landlord will perform a credit check. While the benefit of a second chance application is that you won’t get turned away because of bad credit, it also doesn’t mean that your application is guaranteed. A bad credit application for a second chance apartment should include documentation of your efforts to manage your debts and improve your credit. This can place your application in good standing.
If you need to work on the financial aspect of your application, check out our Simple Steps to Improve Your Credit.
In most cases, the new landlord with perform a background check. The purpose is to ensure that the details recorded on your application are truthful and accurate.
Because we know what a background check entails, visit our resource on How to Pass a Background Check! We let you in on a few tips and secrets to pass your application’s background check.
Proof of Income and Employment
Your landlord wants to know that you can afford the monthly rent and pay it on time. When you apply for a second chance apartment, proof of income and employment are always required.
Why are You Applying for a Second Chance Apartment?
Second chances are for communities with extenuating circumstances that make finding or applying for a traditional apartment difficult. You can learn more about Second Chance Apartments including who qualifies and the benefits of seeking a second chance program.
Who Can Apply for Second Chance Apartments?
Typical second chance apartment applicants do not require subsidies or housing vouchers to pay rent as with affordable housing or section 8. Instead, the apartment rental should not consume more than 30% of their gross income.
Individuals with no credit, first-time renters, prior evictions, bankruptcy, and criminal records are among those who may apply and qualify for second chance apartments. Anyone who is looking for an affordable apartment to rent and meets the qualifying criteria can apply!
Now that you are familiar with the requirements for a second chance application, let’s look at the reasons for the denial of a second chance apartment application.
Why Apartment Applications are Turned Down ?
When you apply for a second chance apartment and your application is denied, it’s important to understand why it was turned down. Remember, an application denial is not a personal matter. It is simply because an element in your application did not meet the qualifying criteria, you perhaps failed to complete the entire document, or the application lacks verified references.
Let’s take a closer look at the reasons your second chance apartment application was denied.
A Lack of Affordability
When you submit your paperwork, your property manager or potential landlord will determine your affordability. This includes verification of gross monthly income, net monthly income, consideration of monthly rent and general expenses. Also, it is important to note that overtime is not alway considered in your income, as overtime is not always guaranteed. If they determine a lack of affordability, your application will be denied.
It is very easy to miss something on your application form. Unfortunately, when the application for a specific apartment is in high demand and you fail to complete the paperwork while the next applicant has a fully completed, referenced, and updated submission, their application will be considered first. This could result in the denial of your apartment application.
References are a crucial part of successful apartment application. References from your current and former employer, your former landlord, or a professional recommendation can go a long way to boosting an apartment application.
References expressing your reliability, responsibility, and positive traits can help the landlord determine whether you will be a suitable tenant.
If you have a repayment plan for managing debts, attach your bank statement y=to your application to show the landlord you are taking steps to tend to negative credit. Supporting documentation can also involve references, proof of income, and documents requested by your landlord.
Before you apply for an apartment, ensure the information you provide is accurate and up to date. Outdated, incorrect, or falsified details will result in an automatic denial of an application for an apartment. It is important to understand that second chance apartment applications must be verified. Your contact information and your place of employment will be verified. A credit check and background check will also reveal any information that is inaccurate.
Why Proof of Finances is an Important Part of an Application ?
You need to afford the monthly rent. For those with bad credit, no credit, or financial difficulty, a second chance apartment is a great option. To improve the success of your application, always attach updated bank statements, proof of income, and additional documents to show credit management or the management of debts. If you have any extra sources of income, provide documentation to add as proof.
The more you can indicate that you are financially capable of affording the rent, the greater the success of your second chance application.
Are You a Smoker or Perhaps You Have Pets?
Every apartment, second chance or not, will have specific criteria or guidelines for tenants. The purpose of these guidelines is to create a safe community for all. If you apply for an apartment and smoking is not permitted or pets not allowed, your application will not be considered.
To ensure you meet the requirements, read the conditions of the application and the complex. If you are unsure about the number of tenants per apartment, whether pets are allowed, or smoking areas available, first contact the provider. A property manager or administration will help you with community guidelines.
With some research, you can find an apartment that satisfies your preferences and your lifestyle.
What if You Have a Criminal History?
A criminal history can be of major concern when you need an apartment to rent. Second chance apartments may not turn you away if you have a criminal record; however, factors surrounding the charges will be explored before your application is considered.
Convictions can make it difficult for apartment applicants to get approved. A felon or charge for a violent crime may not be considered in a second chance program. The purpose is to assure the safety of all tenants and therefore a background check will be performed. If you have a criminal record, provide a future landlord or property manager with a brief explanation surrounding the circumstances of the record if you are asked to do so. If you do not wish to disclose information concerning the criminal record, that is your choice and your right. Just remember that the apartment management team or landlord will perform a background check, so don’t try to hide a criminal history.
Expect a Higher Deposit
Second chance apartments are wonderful opportunities for an affordable rent and building both your credit and rental history. If you do have negative credit or you have a history of bankruptcy, the provider may request a higher deposit. This is owed to the risk of tenants failing to pay the rent and breaking the lease.
Applying with a Previous Eviction
Evictions can be part of the rental process whether it’s owed to financial difficulty or an unforeseen circumstance. Nevertheless, explain the reason for an eviction with a landlord. There are many applications that are turned down because of evictions that were not disclosed.
Landlords will contact your previous property manager or landlord to learn of your rental history including any late payments on rent, so it’s best to be honest about any evictions.
Fortunately, second chance apartments may not turn applicants away who have been previously evicted. In your application, be sure to provide supporting documents from employers and reputable sources if you have been evicted. This can help the landlord determine your future reliability as a tenant.