You have found a great apartment and can't wait to move in. The next step is filling out the rental application. Here are some things to consider when filling out your rental application to help avoid a denial:
- Make sure and completely fill out all of the information that is being asked
- Make sure you meet the income bracket
- Submit your application on time
- Answer all questions honestly
If you know there may be an issue, talk to the landlord upfront and be honest about your circumstances.
If Your Rental Application was Denied
While waiting for the rental application results, you find out your rental application was denied and now you are feeling frustrated and sad and wonder what went wrong plus what can be done about it?
If your rental application has been rejected, don't take it personally. A landlord usually receives many rental applications and they have requirements that must be met for someone to be considered as a tenant.
Some of the areas considered on a rental application include:
- Credit check
- Rental history
- Proof of income
- Employment history
- Background check
A landlord wants to ensure a prospective tenant will:
- Pay rent on time
- Be a good tenant
- Not break the lease
- Take care of their investment property
Reasons for Rental Application Denial
If your rental application was denied, instead of getting angry at the landlord, try to understand why the application was denied. When you find out why it was rejected, you can make improvements so there is less chance of denial on your next rental application. Things to consider:
Did your gross income meet the requirements? If the monthly rental fee is greater than 30% of your income, the landlord may feel the rent is higher than you can afford.
Do you have a low credit score or poor credit history? If you know your credit score or history is less than optimal, let the landlord know up front. Sometimes they will accept a higher security deposit or a co-signer.
How are your references? Make sure you are on good terms with references you provide as no references or poor references can contribute to rental application denial.
Hidden or inconsistent information found on background checks. Background checks can reveal criminal history, financial information and personal details you may not want revealed.
Tips to Avoid Rental Application Denial
Check your credit score - Look to make sure there are no errors or marks you didn't know were there. If there are some, do what you can to repair them.
Provide a thorough rental history including correct dates and contact information for each landlord.
Be prepared with bank statements and pay stubs in case you need to show them.
Choose reputable references who can articulate information to the landlord or property manager.
Use the above tips to help avoid rental application denial. At Reed Property Management, we do our best to provide open communication with our tenants. If you are looking for a rental property in Naples, Bonita Springs, Estero or Fort Myers check out our listings.
Sources: apartmentsnearme.biz, realtor.com