Standard Requirements:

As we mentinoed in the previous section most landlords look for 40 times the monthly rent in annualised compensation and positive credit history. They review the following to make an informed decission. 

Standard required paper work:

The following is necessary for all applicants and gurantors:w

  • Completed application

  • State or federal photo ID

  • Proof of income

    • Letter of employment on company letterhead detailing total annualised compensation, and length of employment.

    • 2 Most recent pay stubs

    • Most recent tax returns (Top 2 pages of worksheet)

    • If self employed you will need the last 2 years of tax returns and a CPA letter verifying the authenticity of the tax returns

  • Proof of liquidity

    • Most recent bank statements

    • Any added investement statements that demonstrate liquidity

The Process:

Every landlord has their own nuanced process. However there is a typical process that will guide you towards successfully leasing the unit of your choice the first time around!

  • Once you have located your new home you will submit a completed application, all required paper work, and any contingencies.
  • Your agent will provide you with a detailed summary of total up front cost. The summary is based on what is known at the time of the application amd is subject to change based on landlord approval. 
  • You will be charged for the credit check fee and processing fee. This charge varies depending on the landlord.
  • Once the essential terms of the lease have been agreed to by all parties you will receive an email outlining all of the terms
  • Lease signing will typically take place within 24 to 72 hours of an agreed upon lease transaction. You will execiute leases and pay the balance due. All money due at lease signing is in the from of certified bank funds. Alternative arrangements can be made if necessary by discussing the need with your agent,