Landlord Lease Qualifications
All landlords have different requirements, but a many require the following in this list. Make sure you qualify for the home of your dreams before you pay the application fees. If you have any concerns about this list let me know so I can negotiate with the agent or landlord on your behalf.
- Your gross income is equal to or greater than 3 times the monthly rent.
- Proof of current employment by submitting 2 months of your most recent paystub(s). Self-employed applicants must provide bank statements for the last 3 months AND a copy of the last 2 years filed personal & business tax returns.
- Your credit score is above 600, otherwise an increase in security deposit may be required. Use Credit Karma to check your latest credit score.
- No evictions (even if filings were dropped).
- No broken leases or violations.
- No outstanding past due rent amounts.
- No prior Property Manager/Landlord 'Ineligible for Relet'.
- No felonies.
- No bankruptcy within the last 7 years.
- Move in date is within 3-4 weeks. Landlords will not approve your application if your move in date is greater than 3-4 weeks.
- Security deposit is generally one month rent and due immediately upon signing a lease.
- Verifiable rental or mortgage history for a minimum of 3 years.