Once you have found a home that satisfies all of your needs and have decided you want to rent it, the next step is to secure the home. Please keep in mind that competition within the rental market for properties is fierce and securing the home in a timely manner is imperative. When you turn in your application you will be asked to provide current and former landlord contact information and employment information such as a current paystub, bank statement, or previous year’s taxes. Make sure to provide all necessary contact information for these references.
The ultimate decision regarding acceptance lies with the company we contract to process our applications and the Management Company or the owner depending upon the status of your credit report. The approval process will usually range from hours to days, depending on the amount of time required to check references.
Because we contract a company to run our credit reports for us, we will not be able to let you know if you will be approved or denied without running your application. One thing that we will mention is that if you have a prior eviction on your credit report we will not be able to approve your application.
There are three stages of the application process:
Approved: This is obviously the best option. You are now approved for your new home and can proceed to the final steps.
Accepted with Conditions: This option does not mean you are declined but simply means we will need to verify further information to get your application approved. In most cases we will contact the owner and review your information with them to see if they are comfortable in renting to you. If they are, then they have the right to ask for a higher security deposit.
Decline: Unfortunately, if your application has been declined then we will not be able to rent to you. In this case you will be able to obtain a free copy of your credit report to further understand why we came to the decision that we did.
Once the application is accepted or approved with conditions, the final steps in the apartment rental process are executed. These include:
Transfer the utilities into your name
Complete lease paperwork and applicable addendums
Remit remainder of payments due
If you have any further questions please feel free to contact our office at 760-365-0800.