Pulling together all your documentation now will speed up your application process. Here’s a checklist of what you’ll need.
Renting a home, especially in a busy market, usually means you have to move fast. Even when you find zillions of rentals on Zillow, there may be only one or two that you want to call home — and you may not be the only one who feels that way.
That’s why it’s smart to assemble in advance any documentation that confirms who you are and shows you’re the best applicant. Doing so can save you delays and stress once you’re in the midst of locking down your next home. We’ve compiled a list of useful documents you should have on hand, and some advice on other aspects of the rental process.
A valid form of ID
You’ll typically need a photo ID that includes your date of birth. This may be a driver’s license, passport, or another form of government-issued ID. A landlord will use the identification to verify you are who you claim to be on your rental application. Providing an ID will help the landlord confirm you are who you say you are.
Social security number
This will go hand in hand with your ID. Once the landlord or property manager has your legal name, birth date, and other information, they’ll need your social security number so they can run your background check and credit score.
Pay stubs to verify income
To ensure you can afford to pay your rent, the landlord or property manager will want to see proof that you have a stable source of income via your pay stubs. Pay stubs will show how much you get paid per period and sometimes your annual salary. If you’re not sure how to find your pay stubs, ask your employer. Sometimes these documents are available online through a third-party app provided by your company so you can track your paychecks and your hours worked. Be sure to get your two most recent pay stubs, and possibly more in case your landlord requests to see more than one month’s worth of pay.
A letter of employment
Not as commonly needed as an ID, social security number or proof of income, a letter of employment is another way to verify you have a steady income, and that you’re in good standing at your job. These are also called “income verification letters.”
Rental history
When applying for a rental, you’ll also need to share your previous rental history with your potential new landlord. Typically this includes 2-3 previous addresses where you lived, and the names and contact information of your previous landlords or property managers. It’s helpful for them to know that you have a good history with past payments and that you took good care of your home.
Scroll down for advice on what to do if this is your first time renting.
References and their contact info
Did you have roommates you got along with pretty well? What about neighbors you were friendly with? Share their info in cases like this so they can vouch for your personality and your living habits. This isn’t always required, but it can help set you apart from other renters in a competitive market.
Application fee
These usually range between $20 to $100, sometimes per applicant. This helps cover any paperwork and background checks your landlord or property manager will have to take care of as your process moves forward. When you search for rentals on Zillow, you can pay for one application fee, and it covers multiple applications within a 30 day period.
Pet information
If your pet is coming with you, you’ll have to disclose as much. As we mention in our article on how to find pet-friendly rentals, the hard truth is that if you have pets — particularly a large dog — it may take longer to find the right home. To help speed up the process, make sure you have any vaccination records, and consider writing up a pet resume that will show if your pet is trained and behaves well around others. This could make the difference between getting rejected or approved.
Disclose a prior bankruptcy or liens
This information will help a landlord or property manager get a better understanding of your financial circumstances, especially if they’re more complex. If either of these situations applies to you, that doesn’t mean your application will be rejected. Be honest and be ready to provide this information if requested.
Name and contact information for anyone co-signing your lease
A co-signer could be a roommate or a partner. If you’re going to have one, make sure you have their correct information in case your landlord needs to get in touch.
Are you renting in New York City? You may need additional documentation.
Some places, like New York City, have different requirements for renters. New York-based agent, Sarah Saltzberg, who co-founded the Bohemia Realty Group, works in all five boroughs as well as Westchester, and she said the requirements in the whole area are pretty consistent.
Landlords in New York City generally require more documentation because of the unique and competitive nature of the city’s rental market, as well as specific local laws and regulations, Saltzberg said.
Since things can be so competitive, Saltzberg said it’s best to come prepared with extra documentation to vouch for your character.
“For example, if a client just started a job in a new state or is fresh out of school, they may not have a solid employment history,” Saltzberg said. “However, they may have a glowing letter from their past management company or significant savings that could make an owner comfortable despite that.”
In addition to the aforementioned paperwork, you should be prepared with the following:
- Last year’s tax return (the top page with signature) and/or W-2.
- Your three most recent bank statements and/or investment account statements (top pages with balances only — client can provide more than that if you have multiple accounts that show liquidity and investments).
- A letter from your most recent property management company where you rented verifying details of last tenancy and confirming you left in good standing.
“Our job as agents is to set up clients for success, which is why we often ask for a variety of paperwork to create a holistic snapshot of a client’s financial stability,” Saltzberg said.
If you’re using a voucher to pay rent
Many NYC residents rely on various forms of rental assistance, including Section 8 vouchers, CityFHEPS (City Fighting Homelessness & Eviction Prevention Supplement), and other subsidy programs.
If you plan to apply for any apartments using a voucher, Saltzberg said you should confirm the following prior to submitting an application:
- The gross rent of the unit you’re looking at falls within the voucher payment standards. Check with the specific voucher program you’re looking at to ensure your desired rental qualifies.
- Factor in any deductions for heat, hot water, electricity, and other utilities, to make sure your desired unit still falls within payment standards.
- Be sure your voucher isn’t expired. Some last for a year, others last even longer.
How can I better my odds of getting approved?
Definitely have the documents listed above ready to go. That alone will show that you’re responsible. Make it clear you have consistent income and that you will respect the property (it’s not yours, but treat it as if it were your own).
A good credit score can also help increase your chances of getting approved. The property manager or landlord will check your credit score, but you can always request a free credit report in advance to give yourself an opportunity to improve it if needed. There are numerous ways you can increase your score, like signing up for automatic bill payments to ensure you always pay bills on time.
If you do have a less-than-ideal credit score, significant debts, or other financial issues, be upfront about that. Explain your situation honestly, and be intentional about improving things for yourself and how this rental is a part of that plan. Your landlord might understand and may even want to help you out by accepting your application.
FAQs:
What credit score do I need to get an apartment?
Credit score requirements vary widely, and some landlords don’t even require prospective tenants to meet a target score. Some large complexes or new construction apartments require tenants to have a good credit score. Some landlords, regardless of the age of their unit, will have similar expectations. That’s because these owners want to be sure their property is in good hands, and having a great score means you tend to pay your bills on time.
The most widely used scores are calculated by the Fair Isaac Corporation (FICO) and VantageScore. Here’s a breakdown of FICO’s scoring model:
Poor credit = score of less than 580
Fair credit = score of 580-669
Good credit = score of 670-739
Very good credit = score of 740-799
Exceptional credit = scores of 800+
If your score is on the lower side, consider whether you have other documentation that shows you are a responsible tenant. Some landlords may be more lenient if you’re willing to talk with them and explain your situation and how you’ll be a good tenant. You could also provide references from past landlords or roommates to help bolster your case.
How long will the whole application process take?
Usually from the time you apply to the time you get approved, it typically takes no more than a week, but may take longer if your credit or background checks flag any issues. In New York, Saltzberg said it typically takes a day or two.
Apartment landlords and property managers are used to people moving in and out frequently, so they move fast — especially if they’re experienced. This is why it’s important to have all your paperwork ready before you apply. Having all the right documents can also help avoid any hiccups that could delay the process, like having pay stubs that are too old.
What if I’m applying for an apartment with no rental history?
That’s perfectly fine. Maybe it’s your first time moving away from home; maybe it’s temporary while you build a new house, or any number of things. Be upfront about your situation, and explain why — if you’re comfortable with that.
Saltzberg said this shouldn’t end up affecting your likelihood much if you still have a solid income, job history, and good credit.
“It really is about how it fits into the overall picture of the applicant,” she said. “If they are new to the city, are starting a new job, and have borderline or low credit, they will most likely be asked to get a guarantor or apply through a third party guarantor service.”
This would also be a good chance to get familiar with leases and rental agreements. Lease terms can vary widely, so it’s important to check if yours includes information like the cost to break your lease, and what you’re responsible for in terms of utilities and other fees.
How do I protect myself from identity theft on my rental application?
Making sure you’re applying for a real rental with a reputable landlord is very important. The rental world is full of scams like any other industry, but you can take steps to protect yourself. You’ll want to be a bit of a detective here and do your own independent research on properties you’re interested in — especially if they seem too good to be true. Verify the listing across several websites. Look up the landlord or property manager to make sure they’re the real deal. Do not give sensitive information like your social security number in the pre-application process; you shouldn’t have to share anything like that if you’re simply touring a place.
Have good judgment as you’re looking for your next home, make sure you’ve got all your paperwork, documents, and anything else you need lined up.
And if you find The One, get ready to move.