All the Paperwork You Need to Apply for an Apartment Lease

If you’re trying to rent an apartment for the first time, you might not know how to best prepare yourself for the process. In may rental markets, the great deals on the best apartments are gone in record time. Not having all of your ducks in a row can be very costly in the end. You might lose the Fresno apartment you want! Check out this list of important documents needed to secure that highly desired apartment lease.

• A copy of your most recent bank statement.
• Current and consecutive paycheck stubs, usually 3. There is often an income requirement. In some markets, renters must have income 3 times the cost of the monthly rent. So for a unit the costs 900 per month, a tenant’s income has to be at least 2700 per month.
• Employment verification letter stating current position and salary. This is simply to ensure the tenant has a reliable source of income that’s sufficient to pay the rent.
• A reference letter from most recent landlord. It should make clear that the tenant paid rent and utilities on time, took care of the unit and left it in reasonable condition at the end of the lease.
• Names, addresses and phone numbers of other previous landlords who are willing to be contacted.

In really competitive rental markets, it pays to go above and beyond in an effort to paint yourself as the most desirable potential tenant. These documents are not always required, but can help make your case in securing your coveted apartment for rent.

• Tax returns for the past two years to show a stable employment history and consistent income.
• Other verifiable documents showing additional sources of income from student loans, Social Security, alimony or disability.
• Names, addresses and phone numbers of business references who are willing to be contacted and will attest to a potential renter’s personal character.
• Copy of recent credit report and score. Landlords will check themselves but if you can show that you’re credit history is strong, it would be favorable and might put you ahead of other applicants.

Tip: Make sure that documentation from companies or businesses are on official letterhead.

What is a Guarantor?

This person is usually necessary in apartment lease contracts in one of two situations. Landlords and apartment leasing agents will require tenants to have a guarantor (or co-signer) when the tenant alone does not meet the income requirements or has a low credit score. In the event that the primary tenant is unble to meet the terms of the lease and pay the rent, the guarantor is legally obligated to do so.

If you do need a guarantor in order to rent the apartment, make sure this person has everything ready to go. The same documents required of you in the apartment application process will also be required of your co-signer.

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