You might want to download a rental application template as soon as you find a place you’d like, but you need to know how to write the application first. In this post, we’ll show you what property owners look for in potential tenants.
Good Income
Your landlord’s main concern is whether they can find someone who will pay rent on time. Good income and a steady job go a long way towards this. For example, some landlords will only look at applicants who earn at least 2.5/3x the rent amount.
Here’s what you’ll likely need to provide:
• Your last 2-3 pay stubs
• Bank statements showing regular deposits
• Tax returns (especially if freelance)
• Offer letter (if newly hired)
Even this might not be enough for every landlord. Some will ask to check with your boss directly, usually over the phone; this is just so they can make sure you can afford living there.
Freelancers usually have a few more hoops to jump through. They might, for instance, need to give their enterprise’s profit/loss statements to show they can (and will) retain long-term clients.
Healthy Credit Score
Your credit score is a number, typically between 300 and 850, though some go higher, that helps prove your ability to repay debts. Every time you miss a payment or incur more debt, your score suffers; only responsible, timely repayments can fix it.
Landlords look for a score of at least 700. Here’s what you can do if your credit score’s not high enough, or if you barely have any credit history:
• Be honest about any debts you’ve had and your work to repay them
• Provide additional proof showing that your income is enough for rent
• Consider offering a larger security deposit or pre-paying your rent
• Find a guarantor who can promise to pay on your behalf if necessary
Good Rental History
Past evictions can easily dash your hopes of getting a great place. Landlords don’t want drama; they just want a good tenant, and someone with (what seems like) a poor rental history won’t be high on their list.
Your rental application needs a comprehensive overview of every past tenancy you’ve been part of. Long stays are especially helpful, and don’t be surprised if the property owner asks to talk to a past landlord. Consider asking one for a landlord reference and adding it to your application.
However, hope isn’t lost if you’ve got a spotty rental record. Here’s what you can do:
• Be honest about your past and accept responsibility for evictions
• Don’t lie — this ruins your chances, and word will quickly spread
• However, you can still explain if the eviction in question was unfair
• Explain gaps in your history (i.e., if you were living with family)
• Elaborate on your financial situation and how that has improved
A Positive Background Check
Many landlords want to be sure they’re renting to the right person and that you don’t have any serious criminal convictions you didn’t disclose. A criminal record alone shouldn’t disqualify you, though this depends on the crime.
Landlords only carry out background checks to make sure their property and your neighbors are safe. Here are a few red flags that, at the very least, they might ask you about:
• Recent convictions involving violence or drugs
• Other names you haven’t previously disclosed
• Active warrants
• Pending criminal cases
• Inconsistent or inaccurate application details
The HUD’s guidance surrounding the Fair Housing Act prevents landlords from blanket-banning anyone with a criminal record. However, you might still face an uphill battle here.
Personal and Professional References
A landlord’s reference isn’t the only one a property owner might ask for. Even if they know you’ll pay rent, they want to know who you are and if you’re responsible and reliable more generally.
Landlords usually ask for at least one personal reference from a friend or community member — they also often want one from your employer. A personal reference helps if you’re a first-time renter or have gaps in your history.
You could give the landlord your referees’ details so they can contact them, or you can provide a pre-written statement from each referee.
General Readiness
Every day a landlord can’t fill a unit, they’re effectively losing money, especially if the property is still under a mortgage. If your rental application shows you can move in soon, if not immediately, this’ll help your chances.
You could also add that you’re willing to stay for a longer (possibly two-year) tenancy; this saves landlords the stress of negotiations or finding another tenant. Your flexibility here can be a big application booster.
Final Thoughts
Most landlords provide their own rental application, but it can’t hurt to use one from a reputable document template site. You’ll be able to give more information, including more confirmation that you’re a model tenant, even if you’ve had poor rental experiences.
