Finding a new place is at once hard work and a decently simple process. Every leasing contract and situation is unique, but still, most share a few things in common. To that end, here are some tips for getting approved for an apartment.
Prepare your finances
Fortify yourself mentally and financially when you’re ready to make a move. Sell things you’re not using or valuables you’re prepared to part with for the sake of mobility and freedom.
If you see yourself moving out in the next six months, start saving money right away. This way, you can more easily afford the deposit and first month’s rent on your new apartment with extra cushioning. You should emotionally prepare yourself to part with your current space and practice keeping a positive mindset to bring with you to your new apartment.
Have good credit
Good credit isn’t always necessary when renting an apartment, but it has definite benefits when applying. Consistency is key to improving your credit rating. Be sure to make your payments on time and keep track of your minimum due payments and dates. A perfect payment history looks best on your record. Try not to borrow over 30% of your credit limit to keep your score steadily rising.
Do all the paperwork
When you’re interested in an apartment, contact the agency in charge of the property and get the application requirements right from the source. Most will include their non-negotiable requirements in the posted advertisement. If you’re afraid of missing out on a chance to rent the space, be sure to give them a call as soon as possible during reasonable hours (or their business hours if included in the listing).
When you get in touch, ask for an application and inquire about any other documentation needed. Every situation is different, but across the board, you should gather your vital legal documents and set them aside to be reproduced at a moment’s notice.
Apply within your income
Apply for an apartment that’s well within your range of income. In some cases, landlords may require that you make at least several times the monthly price of rent. This requirement is in place to help ensure that renters can afford the cost of living alongside meeting minimum rent payments.
If an apartment you’ve just gotta have is only a bit financially out of your league, your landlord or leasing agent may accept a guarantor’s co-signature. A guarantor accepts financial and legal responsibility in case of missed rent payments or eviction.
Tour the apartment
Put your best self forward when it’s time to meet your leasing agent or landlord and tour your potential space. Nobody’s suggesting you wear a tuxedo, but you should try to look good and show off your friendliest, most responsible self.
Once you’re at the apartment, tour the space thoroughly. If it isn’t exactly what you’re looking for, or if it doesn’t meet your expectations, be brave enough to back out. It’s harder to end up with an apartment you don’t like and have to repeat the rental application process again.
What helped you get approved for your last apartment? Sound off in the comments!