How to prepare to find a home to rent.

TL:DR

It’s that spicy dang time.

Maybe you’re a first time renter, fresh from the nest and scoping out apartments and deciding on roommates.  Or maybe you’re fed up with with your current landlord who doesn’t fix things, your neighbors rage-party all night, or you need to cut costs and find something cheaper.

 

Perhaps little Timmy is en route via womb and you need that extra bedroom.  Or as a proud dog-parent you need a worthy backyard for the fur-child. Whatever the reason, it’s time to locate a new place to rent which means you’ll need to prepare to find a home in the spicy rental market.

Since some rental markets are very competitive (some homes are posted online and rented within 24 hrs!) you’ll want to make sure you’re prepared to lurch on a home you think will be a solid fit.  This means:

*Having your application fee and deposit prepared.  

*Having your previous rental history, personal info, criminal history, source of income, references, and co-applicant info ready to go.

*Checking your credit so you know what you’re working with and if any further preparation will be needed.

*Preparing your mind to jump through whatever hoops the landlord asks of you and realize this is a process; sometimes a lengthy process.

Have your  application fee and deposit prepared.

To apply for a home you’ll be required to submit an application along with an application fee which typically ranges anywhere around $10-$150 ish depending on the home, location, property manager, etc.  As mentioned earlier, some competitive rental markets only have homes on the rental market for 24 hrs or less before they’re snatched up, so having everything you need at your disposal for a timely application process will save you time and put you in a better position to move the process along quickly.

If you need time to gather deposit funds which are usually anywhere from $500 – $4,000 (or more if you’re bougie) depending on the home/situation, make sure you have the money ready to withdraw immediately.  If your application is approved but the landlord only gives you a spicy 24 hours or less to cough up the cash, you don’t want to be frantic trying to get the money together.  

If you pull the, “I need to ask my roommate for the money but they’re at work” or “my bank is closed and I need to move money around in my accounts,” don’t expect the landlord to wait on you.  Sorry, but it’s the truth; they are running a business, not a charity.  There’s likely someone else in line for the home that has their stacks on lock and can hand over the cash with no delay. 

Heads up: Outside of good ole cash, landlords may ask you to provide the deposit via “certified funds” which could be a money order or cashier’s check.  “Certified funds” are a means of payment that guarantees the money to the landlord without risks such as a bounced check or rejected credit card.  Money orders and cashier’s checks can usually be found at any grocery store, the US Post Office, or most banks.  However, these payment methods usually come with a fee which can be anywhere from $0.50 – $15.00.  

Banks typically charge more whereas somewhere like Walmart (this isn’t a paid promotion, it’s just what I witnessed over the years) might only cost a couple bucks.  A quick call into a grocery store or your bank to check what their money order fee is will help you save time and money on where to purchase for the cheapest price.  I know calling is SUCH a hassle but it’s worth a 1 minute convo to save a few bucks IMHO. 

Have your previous rental history, personal info, criminal history, source of income, references, and co-applicant info ready to go.

When filing out a rental application you’ll be required to submit A HOT TON of personal and historical information.  This includes:

Rental history.

This could include any previous addresses you’ve rented at, the landlord’s contact info such as phone number and email, dates rented, what the cost per month was, what utilities you paid, any roommates, and more.  

Be aware that in most cases your current or previous landlord will be contacted to make sure you weren’t running a ferret farm in the backyard or using the middle of the kitchen as a campfire pit (I once toured a house to rent where the tenant had campfires in the middle of the kitchen floor on the ghetto linoleum.  Needless to say, it was a no for me dog).

Personal info.

This includes your name, current address, marital status, social security number, phone number, birthdate, and any other info the landlord deems necessary.  The is all pretty basic stuff you can usually recall off the top of your head, but if you’re someone who has to dig for any of it make sure you do the work beforehand to have it ready.

Criminal history.

If you have a criminal history be ready to add it to the application including dates, crime, location of crime committed, etc.  Landlords vastly differ in how or if they accept folks with a criminal past.  Some landlords don’t accept any convictions, while some accept only misdemeanors but not felonies.  Some accept felonies but only if they are for certain conviction types (fraud, robbery, battery, etc.)

Be aware that some convictions can disqualify you entirely from renting a home.  It’s best to ask the landlord before you apply if your conviction will disqualify you from renting.  This info should also be listed on the landlord’s criteria to rent for you to read before you fill out the application. Otherwise, you’ll waste a bunch of time for yourself and the landlord if you don’t ask but apply anyway.

Source of income.

You’ll have to prove you can afford to pay rent every month. Shocking, I know.  This could be in the form of employment, substantial savings, social security income, child support, retirement income, etc.  Be sure to have copies of any pay stubs, bank statements, check stubs, or anything else that proves your income ready to be provided to the landlord.  If you only have original copies of documents that the landlord can’t keep, make copies of them for the landlord so you can keep the originals for yourself.

 

References.

Some landlords require you to submit personal references they can contact to make sure you didn’t sell off the air conditioning unit for cash to pay for drugs (yes that actually happened.  Yes there will be a post about it later) or take a literal sh*t in the air vents before you vacated the home (yes that also really happened.  Yes there will be a post about it later).  This could be a friend or family member, but you’ll most likely want to include professional references, such as a previous landlord or an employer.

Co-applicant info.

Some landlords require any co-applicants or roommates to submit an application at the same time as you or at least have their info on the same application.  If this is the case you’ll want to have any info for spouses, roommates, significant others, etc. at the ready should you need it.  This info will likely be the same as what you’ll be required to submit including previous rental history, personal info, criminal history, source of income, and references.

Check your credit.

Most landlords will check your credit to see if you pay bills on time and subsequently if you’ll be able to pay rent on time (more on this and the application process in an upcoming post).  Each landlord has their own criteria for credit as far as what’s acceptable and what they’ll approve.  

Checking your credit ahead of time lets you know what you’re working with and what you can *somewhat* expect in regards to your approval odds.  Most landlords display credit requirements on their application forms or “before you apply” info, which can give you a better idea of it you’ll qualify or not.

I typically use Credit Karma (this is not a paid mention, it’s just what I’ve been using for years and it’s free) but a quick online search will yield other websites and means to check your credit for free.  Note: you shouldn’t pay to check your credit.  There are way too many resources that offer free credit checks.

Is your credit #literaltrash?  Then you might be required to submit a higher deposit or have a co-signer on the lease.  Both of which will require additional preparation on your part including getting additional funds ready or lining up a qualified co-signer.  Is your credit solid with minor negative marks?  You likely don’t need to take any action for now.  

Prepare your mind for the possible long haul.

We all wish the first house we apply for is anointed with all the amenities we could ask for and located in the best area of town.  The reality?  It can sometimes take months to find something that fits your criteria and isn’t already snagged by someone else.

Prepare your mind for the possibility that finding a home could take anywhere from hours to months.  Also prepare for the fact that since you’re renting from someone else, you’ll have to jump through their hoops, policies, requirements, and demands.  These should all be legal and reasonable of course and related to renting a home.  Sorry, but if you don’t own the house it’s just part of being a renter.  

If you don’t adjust your mindset to be patient, you’ll likely get frustrated easily and the process will be unnecessarily grueling.  Soon enough you’ll find something suitable and you’ll be glad you didn’t lose your mind when the landlord asks for yet another pay stub or the 6th house you applied for was taken by someone else ahead of you in line for it.  Essentially, don’t get too spicy before your time to rent has arrived.

Best of luck in your spicy preparation to find a home!