Applying and renting an apartment can be a complicated process. Especially with the rental market heating up, apartment applications can be competitive too. Whether you’re a first-time renter or a seasoned professional, we layout everything you need to know on how to get approved for an apartment.
You’ll also find answers to questions such as: What do you need to get approved for an apartment? How long do apartment applications take? And, how can I increase my chances of getting approved for an apartment?
One of the most reliable ways to increase your chances of getting approved for an apartment is to find apartments within your rent budget. In general, it’s recommend that your monthly gross income is at least three times your monthly rent, including pet rent, parking, and any other fees you have to pay every month.
In your apartment search, you may find that some buildings only require you to earn 2.5x your rent. The latter is most common in big cities, especially New York.
When you first move into an apartment, you may have to pay extra fees such as a security deposit, pet deposit, and parking. Check each apartment building’s website to see what their move-in fees are, and make sure that you can cover them in your monthly budget.
If you are considering applying to an apartment, you may want to check your credit score. Or, if you haven’t already, start building your credit. Most landlords will complete a credit check, and apartment buildings you apply to may have credit requirements. For example, an apartment complex may have a minimum credit requirement of 600. The higher your credit score, the higher your chances of getting approved for an apartment.
If there is a big gap between your credit and the property’s minimum credit requirement, or you don’t have much credit history, work to improve your credit as much as you can. You can do this in many ways, especially by keeping your credit card balances low and paying off other high-interest debts and loans. Improving your credit in advance will help you get approved for an apartment.
It happens to the best of us. Whether you’re saddled with student loans or just haven’t been able to build up your credit, the majority of people know what it’s like to have bad credit.
While many apartment buildings have credit score requirements in order for you to rent, you may have a chance of getting approved for an apartment even if you don’t meet all their requirements. Regardless of your credit score, what you need to do is prove to the property manager that you have the resources and are a reliable tenant. Some actions you can take to make up for bad credit are to:
Meeting with a landlord is easy, right? Well, not exactly. First off, the landlord or property manager may not be the person giving your tour. So you may have to set up a separate meeting with them to discuss your application.
When you do meet the property manager, come prepared. It’s best to read up on rental requirements before your appointment with the landlord. That way, you’ll know if you qualify for the apartment by yourself or if you will need to ask the landlord for accommodations, such as applying with a cosigner.
You should pay close attention to the rules of the apartment complex. That way, you don’t waste the landlord’s time asking questions when trying to rent an apartment that are already answered on their website, like whether or not they allow pets. And you won’t waste their time and your time by touring an apartment you likely won’t be approved for.
First and foremost, landlords want applicants, which may be future tenants, to be honest, reliable, and responsible. They don’t want to call you multiple times to request additional documents for your application. And they certainly don’t want to find incorrect information in your application. If you submit an incomplete application or don’t return their emails, the property manager may doubt your reliability and responsibility.
To increase your chances of getting approved for an apartment, submit a complete, honest application. And be available by email, phone, and text for a couple of weeks after submitting your application so that the property manager can get in touch with you.
Lastly, a landlord’s ideal tenant has a flexible move-in date. Especially in colder climates, property managers may ask that you move during warmer months to reduce the risk of damage to the apartment building. So if you can, flexible on your move-in date.
In the end, property managers want a tenant who will make payments on time and be a positive, respectful member of their community.
Once you’ve found the perfect apartment, you’ll need to know how to get approved for an apartment.
Most apartment buildings will have a number of application requirements, and they won’t just be about your income. In addition to checking your income, landlords may request documents attesting to your character as well as your rental and work history.
To be prepared and to increase the potential for a quick approval for an apartment, have access to the following documents when you meet with the property manager:
It is also important to note that most landlords will run a background check using the information in your application.
Some of these documents, such as a cover letter and references, aren’t always required in an apartment application. But, they can help you get an apartment approval, especially in competitive rental markets like San Francisco. And supplemental materials like an employer reference can help make up for a weaker part of your application, such as a short employment history.
Once you hit submit on your apartment application, you may wonder, how long do apartment applications take to process? Unfortunately, the answer varies quite a lot by property manager. Some buildings may get back to you within a couple of hours, while others may take weeks.
There are many factors that affect how long apartment applications take. For example, the processing time will be shorter if you filled out an application online. Also, if your new landlord doesn’t have to reach out to references or previous landlords, if you meet all rental requirements, and if you filled out all parts of your application completely the process for being approved can be rather quick.
Some property management companies use third parties to process apartment applications, which unfortunately lengthens the approval process.
If your apartment application is denied, you’ll want to double-check your application and ask the property manager what went wrong. Some things which may result in an application denial are:
And, of course, your application can be denied if someone else already rented the apartment and the apartment is no longer available.
Once you get an apartment approval, you can read and sign your lease. Your landlord may also ask you to pay:
Whether your application is approved or denied, read up on your rights as a renter wherever you live. Some areas, like Seattle, have many renter protections. For example, if you are the first qualified applicant to apply for an apartment in Seattle, the property manager is obligated to rent the apartment to you, instead of waiting for a more ideal renter.
Also, some buildings require that you tour a unit before you apply, while others allow you to apply sight unseen. Knowing your rights will help you be a better and more informed tenant, and it can even help you get an apartment.
Rental rules and regulations vary quite a bit by region, city, and even by individual apartment buildings. To maximize your chances of getting approved for an apartment, read up on the properties you want to move to. Make sure to check out each building’s credit, income, and rental history requirements as well as rules regarding pets and number of renters per unit. And you’ll want to research your local renting regulations, just in case your apartment application is handled unfairly or denied by mistake.
If you are represented by an agent, this is not a solicitation of your business. This article is for informational purposes only, and is not a substitute for professional advice from a medical provider, licensed attorney, financial advisor, or tax professional. Consumers should independently verify any agency or service mentioned will meet their needs. Learn more about our Editorial Guidelines here.
Holly is part of the content marketing team and enjoys writing about home improvement and lifestyle. Her dream home would incorporate both an industrial and biophilic design.
