With more and more would-be homeowners switching to renting, finding the house rental of your dreams for you and your family is more important than ever. In a hot market, the competition can be fierce, so it’s important to make sure your rental application shines out.
Going about this isn’t as tricky as it may appear. You just need to know what landlords are looking for and make sure you tick all the right boxes.
In this guide, we’ll take a look at how you can make sure your rental application gets approved and you get your ideal home.
1. Provide a Cover Letter
By providing a cover letter when you submit your rental application, you can really stand out from the crowd. It’s a great place to provide essential information and let the landlord know that you not only understand their needs but can also meet them. Some key points to touch on include:
- Your rental history,
- Why you’re the right tenant,
- Your current employment situation,
- Why you want to move into the unit in question,
- References are available on request.
Your cover letter shouldn’t be too long, otherwise it can be dismissed. Normally a few short, sharp paragraphs will do the job, while a photo of you and your family can really make it shine.
2. Have Your Paperwork Prepared
When you submit your application, be sure to have all the required paperwork on hand. In a hot market, landlords or property management companies are unlikely to chase down applicants who don’t provide all the required information the first time around. Normally, you’ll be required to submit copies of the following:
- The rental application, filled out in full,
- Bank statements,
- Photo ID, such as a driver’s license,
- Pay stubs,
- Social Security Number (in the U.S.)
- Credit score/report,
- Rental history,
- Employment history,
While you might not need to submit all of these documents immediately, it helps to have them prepared as they’ll normally be required for the tenant screening process.
3. Work on Your Credit Score Before You Apply
A good credit score and financial stability are two things most landlords will seek out when sifting through tenant applications. The higher your credit score is, the higher your chances of having your application approved. So, if your credit score isn’t in great shape, it’s well worth working on increasing it before you start applying:
- Pay off outstanding debts,
- Keep up with bills and avoid missing any payments,
- Aim to improve your debt-to-income ratio.
Most landlords will seek out tenants with a credit score of at least 650, so if yours is below that, try to improve it before applying. If you’re struggling, find a co-signer, such as a parent, who will commit to stepping in if you’re struggling to make your payments.
4. Get Your Finances in Order
As well as a good credit score, you’ll need to provide proof of income and employment history. Most landlords will look for tenants whose gross income is at least three times more than the rental fee, so make sure you’re only applying for rentals that fall within your budget.
5. Provide References
References can put your future landlord’s mind at rest and let them know that you’re a good fit. Previous landlord references, for example, can prove that you always paid your rent on time, were easy to communicate with, and left the property in good condition. Meanwhile, a personal reference from an employer, doctor, or teacher can vouch for your character and professionalism.
It’s a good idea to spend some time collecting several reference letters in advance and providing the relevant contact details so that your future landlord can contact them directly to verify the information.
6. Honesty Is the Best Policy
If in the past, you’ve been evicted or have had criminal convictions, it can seem almost impossible to find a landlord that will rent to you. In this case, be honest about these things in your cover letter and tell your side of the story. After all, there are many acceptable reasons and by discussing it outright you’ll show integrity. In turn, the landlord will likely be more willing to be flexible.
It’s worth knowing that landlords will typically make comprehensive background checks on any tenants they’re considering, so honesty really is the best policy. If you’ve been found to have lied on your application, it will quickly be rejected.
Likewise, if you’re a pet owner, don’t hide the fact. There are an increasing number of pet-friendly rentals out there, so be sure to seek them out rather than hiding the fact that you have pets.
7. Be Flexible With Timing
For landlords, renting out their property is essentially like running a business. Having the unit sit empty is bad for business, so they’ll typically want new tenants in as soon as the previous ones have left. If you can be flexible with the move-in date, you’ll be an extremely appealing applicant.
So, if it’s possible to stay elsewhere in the interim, such as with friends or family or in a short-term rental, that could really help your application stand out.
8. Make Sure the Number of People Residing in the Property Is Correct
Certain laws dictate how many people can safely occupy a rental unit, so be sure that you comply before applying if you’re moving in with family or other people. Trying to fit too many people into a property will see your application instantly dismissed, so be sure to only apply for units that can accommodate everyone.
9. Be Professional
Treat any meetings or viewings like a job interview. Ensure you arrive on time, be polite, and present yourself well to leave a good impression. Acting rudely will be an instant turn-off, leading to your application being rejected.
10. Act Fast
In a hot market, good rentals will be snapped up quickly. So, rather than taking a long time to come up with a short list, when you see a rental that you like, apply straight away. After all, if you find something better in the meantime, you can always pull out.
