If you’re considering a move, finding a new rental is going to be your top priority. While you will have criteria of your own for discerning between available rentals, it’s also important to consider the property owner’s needs. Learning what they will be looking for will help you qualify for the rental units that do fit your search.
- Abide By Occupancy Rules
If you have a large family, be aware that fire codes will restrict which property owners can rent to you. Typically, there are two people allowed per bedroom, so a four-person family would have to rent a two-bedroom unit.
- Provide a Valid I.D.
Before any property owner can rent to you, they will have to verify your identity. This is usually done by supplying a valid driver’s license, although any government-issued photo I.D. may suffice. In addition to your name, the I.D. should show your date of birth and your current address.
- Provide Proof of Income
Your prospect landlord will want to make sure you earn as much money as you claim. For this reason, you should be prepared to provide W-2’s, monthly bank statements, or pay stubs.
- Meet Income Requirements
Going hand in hand with the previous requirement, you should also be able to meet income requirements established by the property owner. In most cases, the property owner or manager will require that you earn X times the monthly rental rate. As an example, requiring 2 times the monthly rent on a $1,000 apartment will require you to earn $2,000 per month.
- Provide Verification of Employment
This condition can usually be met by supplying your prospective landlord with a phone number and contact name for your employer. They simply want to verify that you are employed, will be employed in the future, and that you are earning the pay you claim to be earning.
- The Credit Check
Most property owners will run a credit check. If your credit rating is poor, it may be wise to improve it ahead of time.
Additionally, the credit check will show recent evictions. If you have been evicted in the last seven to 10 years, you may not qualify.
- Criminal Background Check
If you have criminal convictions, it may be difficult to find a place to rent. Property owners usually won’t rent to those with a criminal record, because they’re concerned about the safety of their other tenants. They may also be concerned that you pose a greater risk of damage to their property.
- Provide a Security Deposit
In order to protect against the financial burden that property damages creates, property owners will require you to pay a security deposit. In some cases, this may be equal to one month’s rent, though it may be less or more. You should be prepared to pay this money up front with your first and last month’s rent.
While property owners may outline more conditions for choosing tenants, the requirements listed here are common among most property owners. Learning about these requirements ahead of time will help you become better prepared as an apartment hunter. When you do find the unit that suits your needs, you’ll be better prepared to meet the landlord’s qualifications.