Tuesday, October 26, 2010

Rental Application


  Above is a basic example of a rental application that I got off of Google images. You will need to give your personal information and previous addresses for credit checks as well as if you have any rental history. They also ask for employer information because you must make a certain amount or you have to have a co-signer. They usually require the person to make 3 times the rent and the same goes for the co-signer.

Co-Signer

   For those of you that are wanting the freedom to be on your own and don't want a co-signer to control anything than there is nothing to worry about. A co-signer is someone who basically vouches for you and agrees that you will pay the rent and if you don't they are responsible. A co-signer has no power to get a key to your apartment or make decisions unless you give the manager permission to allow them.

Processing Fee
  When you do apply for an apartment most places will charge you a processing fee which can run anywhere from five dollars to thirty dollars per adult. What this covers is the cost to have a credit check done. Almost always these processing fees are taken off of the first months rent. Make sure that the application is filled out correctly with no mistakes on personal information otherwise you may have to re-submit another application.

References
  References refer to previous rental history. For, new renters your parents do not count unless you have a contract that states you are actually paying rent and how long. It is better to have a long history at one residency than it is to have short history at different residents, but either way as long as its a good history and no evictions, excessive complaints, etc it will be acceptable.

Lease Agreement
  Once the application and credit checks are done and you are approved to live there than you will have to fill out the lease agreement. The lease agreement is where you acknowledge that you accept the terms and conditions of your stay. It will have your monthly rent and information on how to pay rent, when to pay and late fees. There will also be literature about all the ammenites, laundry room agreement, pool rules, parking, maintenance, inspections and so on. There is a lot of paper work but it is usually good to read most of it, especially about rent and late fees and guest information. It will take you am hour or so read before you sign just so you know what your getting into. Once all of that is done you will finally get your key, along with any parking permit, laundry cards, etc.

 Now that all the important paperwork and agreements are taking care of it's time to move in and enjoy your new place. Next movers or move yourself....


1 comment:

  1. Thank you for such a well written article.It’s full of insightful information and entertaining descriptions.Your point of view is the best among many. apartment for rent in hcmc

    ReplyDelete