Looking to rent soon? Aside from finding the ideal property, landlords put tenants through a screening process that can be challenging to qualify for. But don’t fret. There are ways for you to boost your chances of securing your dream rental property. To help you with this, here are 5 valuable rental application tips for tenants. We’ll cover everything you need to know – from essential application documents to strategies to make you stand out among the rest!
Tip 1: Gather All Documents Ahead of Time
Landlords ask applicants for several documents to verify their identity and qualifications. As a company that provides property management in Austin, we use a standard set of screening criteria that aligns with fair housing laws, disclosure, and other applicable federal, state, and local regulations. For landlords renting without property management representation, they may use the common TXR Lease Application or develop a lease and screening process with the help of a qualified attorney or real estate professional. But as a tenant, you should always ask for the screening requirements upfront. This ensures you have everything you need right from the start.
Here’s a review of the most common tenant application documents:
Proof of identity: This is to establish that you are the applicant and that all accompanying documents you submit are filed under your name. The documents that you can use as proof of identity include your driver’s license, passport, social security card, or any other government-issued photo IDs.
Proof of income: This is to verify your ability to afford the rent throughout the duration of your lease. In general, applicants must show consistent and verifiable income that is equal to or greater than 3 times the monthly rent. You can use recent pay stubs, the past month’s bank statement, certificate of employment, or tax returns as proof.
Credit report: Similarly, landlords will also request for your credit report, to further evaluate your payment history and overall financial eligibility.
Background check authorization: A criminal background check is the next standard step in the screening process where a landlord will look for any recent convictions that may put their property or the surrounding community at risk. The authorization letter applicants sign allows the landlord to run this report within the scope of the tenant screening process.
Rental history: Your rental history is another relevant detail that landlords take into consideration. They want to know if you have any history of vandalism, property damage, or anything similar that could potentially put their rental at risk.
Proof of renters insurance: While it’s not required by law, having renters insurance is a fairly common practice. Having this coverage already on hand can help present yourself as a responsible tenant.
Co-signer information: If you don’t meet specific requirements, such as insufficient credit or rental history, consider applying with a co-signer. This person serves as the guarantor for your lease agreement. Before applying, make sure you have all the necessary information about your co-signer ready as well.
Pet documentation: It is important that you also have your pet's details on hand. This includes their registration and vaccination records. If you have a service animal with you, include their certification and doctor verification with your application documents.
Tip 2: Be Honest on Your Application
Honesty is key to building a good and strong tenant-landlord relationship. Anything short of that could put a rift between you and your potential landlord from the get-go. Taking this into consideration, do your due diligence to ensure that all the information you provide is accurate. Review all forms that you submit and check for any typographical errors or inconsistencies.
More than that, a pressing consideration about honesty is your personal history and financial situation. Never think about elevating your income just to match the price of the rental property. Likewise, don’t attempt to hide any criminal record, outstanding debt, or bad rental history. While these may negatively affect your application, simply try to explain and rationalize your situation and your plan moving forward. If not, you can still try applying with a co-signer to boost your chances.
Tip 3: Apply Quickly and Follow-Up
Another factor that you must consider when trying to find a property to rent is speed. In high-demand areas or competitive markets, rental properties can come and go fast!
When you find the rental property that matches your needs and preferences as well as fits your budget, applying quickly is critical to put yourself ahead of other applicants.
To highlight yourself even further, send a quick follow-up. You can send out an email or give the landlord or property manager a call stating that you’ve applied and you’re looking forward to their response. However, wait 24 hours to avoid sounding too pushy as you wouldn’t want to appear impatient.
Tip 4: Have Solid References
Background checks through references is another key element of the tenant screening process. It’s how landlords get a glimpse of the applicant’s reliability and history from other people’s perspective. Considering this, having solid references is important because the information gathered during this step can greatly influence your landlord’s decision.
Typically, landlords ask for your previous landlord (if you have any) about your rental history. They could also reach out to your employers and colleagues to ask about your reliability, promptness, and rule adherence.
Aside from that, you can also include personal references to help support your case. This is specifically important if you don’t have any rental history. While it’s common practice to list friends and family members, the better choice would be professional acquaintances who would provide unbiased opinions about you.
Tip 5: Boost Your Application with Extras
Let’s say that you have successfully submitted all required documents to apply for a rental property. Some would think that it’s a waiting game at that point. But that is not entirely true. There are strategies that you can use to make your application stand out from others. Here’s some of them:
Proactively acknowledge any potential red flags in your application. Whether it’s about a low credit score or problematic rental history, provide a comprehensive explanation that will help them understand your situation better.
Be professional, whether in writing or in person. Make sure that your application form is completed accurately. Aside from that, organize the documents you submit properly, and ensure that every file is formatted professionally and legibly.
Set Yourself Up for Success
Securing a rental property can be a challenge, especially in high-demand markets. Considering how competitive the market is nowadays, it’s important to know how you can put yourself in a better position to qualify.
The first step is to prepare all the necessary documents to avoid having to make the landlord wait. On top of that, gather sound references that will best represent you and your capabilities to become the ideal tenant. You can also submit a quick follow-up to show your interest and enthusiasm about the property. But most importantly, it is crucial to stay true and honest throughout the whole process to establish reliability and integrity.
Looking for more rental tips? We at Stone Oak Property Management provide rental property management services designed to bring landlords and tenants together. With a dynamic inventory of available rentals, we pride ourselves on finding a rental that suits both your needs and budget. Looking to move, we can help! Connect with our team of expert leasing agents who can walk you step-by-step through the screening process and put you one step closer to your ideal rental!
