You have shortlisted a few apartments matching your preferences to pick up your dream apartment. What's next? Well, it's the time for the rental application process that takes you a step closer to settling into your new happy place. You might be thinking about what a rental application process is and what to expect from it. 

A rental application process is a procedure for an online apartment application that submits detailed tenant information to a property owner or landlord. It determines a tenant's creditworthiness and ability to pay rent to the landlord. For detailed information on the steps, follow the write-up compiling a quick guide, explaining everything in detail.

1.  Fill out rental application 

Filling out the online apartment application is the first step you will follow in the rental application process. If you are interested in a property, contact the property management and fill out the rental application form. If you have any co-applicant, they will also need to follow the same process. 

 Similarly, every individual will have to fill out their lease application form when applying for apartments online. It will help if you have the necessary information and documents for the rental application process. 

 The documents include your name, photo ID, address, contact number, email address, income proof, pet information, background information, emergency contacts, landlord references, and personal or professional references.  

2.  Pay application fee

An application fee covers the screening cost of the applicant and differs based on area, building, and landlord. You have to ask the manager about the applicable fees when the online apartment application process for the property you are interested in. Similarly, you can also inquire about the refunds if you change your preference. 

3.  Credit and background checks 

A credit check analyses how financially responsible a tenant is. It includes your reliability of paying rent on time via checking credit scores. A background check involves reporting your criminal history and other relevant background information.

4.  Income and Employment proof 

A landlord checks the proof of whether you can pay the rent or not. They will ask you to submit a copy of your recent pay stubs, tax returns, etc. You have to provide the landlord's recent bank statements. The process is usually longer depending upon the property you go with. 

Also Read About Rental Lease

5.  Assess if you need a co-signer 

A co-signer is a willing guarantor who takes the legal responsibility of paying your rent when you have a bad credit history. You will need a willing guarantor when your monthly income is less than thrice the time of your rent, increasing your chances of approval. Assess will if you need one. 

6.  Prove you are an agreeable tenant 

Usually, landlords are keen to know their tenant's behaviour from the previous landlords. Were you a noisy tenant? Did you obey the pet policy? All this confirmation comes in a letter from the previous property owner or landlord. 

You have to attach a landlord reference along with your online apartment application form. It is another way to increase your chances of landlord approval, setting you apart from other applicants. 

7.  Carry on with good personal references 

A good personal reference applies when you do not have a rental history. Like landlord references, a good personal reference also vouches for your behaviour. On the one hand, a landlord reference sets a benchmark for the new landlord, personal reference comes from a colleague or a friend, attesting your integrity. When you apply for an apartment online, it might sound like a lot of work, but it's all worth it. 

8.  Sign the lease 

After passing through the rental application process, it is time to sign the lease, make notes on neighbours, inspect the premises, and prepare an essential checklist of things for your new apartment. But before signing it, read the agreement carefully. You might not know about the storage space and floor plan, but make sure to check every lease detail before deciding on your move-in date. For instance- what will happen if you violate the lease in unfavourable circumstances?

Final reflection 

Henceforth, these are the steps involved in a rental application process. If you wish to rent an apartment via the online process, do not forget to take note of these things. Ensure that you have all the documents required to submit your rental application. After passing through all these stages and signing the lease, take a tour of the premises, either virtual or in-person, to learn about the premises. Prepare to shift to your new place and new experiences ahead.