Every rental application you fill out will have their own "Qualifying Criteria" that you should DEFINITELY read before putting down any money & submitting your app. Contact Me If you are worried about getting denied for ANY qualifying issue, I know places that will approve you.
Checking Your Credit
When renting Apartments you can guarantee your credit will be checked and play a big role in your approval decision. Most Apartments want little to no "Collections" accounts or "Charge-Offs" showing on your credit otherwise its almost an instant denial especially if your credit score is under 550. BUT the good news is there are management companies that won't deny you just for bad credit as long as you don't have any broken leases or evictions (we will get to that later). Plus a closed Bankruptcy or a Foreclosure usually aren't a big deal with the places that work with not-so-good credit.
Proving Your Income
In the age of Food Delivery, Uber, Cash Sharing Apps, Venmo, Cash Tips or you just don't get a pay stub there are places that will still approve you. Apartments just want to see you make 3x the rent in income a month but there are a few that are 2.5x BEFORE taxes. For example if your rent is $1000/month you would need to prove $3000 in income a month before ANY deductions. Of course if you had pay stubs this part is a lot easier. In the rare occasion you have a substantial amount of money in your bank account for at least the last 6 months you can get approved that way as well, Contact me for more info on qualifying for income.
This is probably the single most important part of the application that can also get you instantly denied if not everything is considered. Just about all of Apartments will most likely deny you no matter of age for any Felony Violent Crimes like Assault; Family Violence, Robbery, Theft, POCS (Drug Charges), or Any Sex Crimes. Felony DWI's aren't usually considered violent. Other unclassified Felonies or ones not listed above usually have to be at least 10 years old. Misdemeanors are a little more easy to get past but any Misd. Theft, Assault or POCS (Drug Charges) is likely to get you denied if it was under 7 years depending on the class. Every Management company is a little different on how they handle criminal history, contact me for more info about your certain situation.
Rental History (Broken Leases & Evictions)
Or simply just a "Property Debt" This is in a category of its own because owing a Property money is more than just a credit issue. But don't worry, it's not the end of the world. If you had to break a lease, were Evicted or simply owe a property money for whatever reason and the debt is showing on your credit then you will have more options if it is over 2 years old. If the property debt is under 2 years old on credit then you could either pay it off or get it taken off your credit if there was a mistake. If you have an Eviction ( Had a court date/Went to court ) it's public records and will most likely have to be at least 2 years old before you can be on a lease again no matter if they reported it to credit or not. BUT the good news is there are places that don't call to confirm rental or they don't see past a certain point on your credit sort of like a "2nd chance" property. Lastly, if you have a property debt showing on credit and you think it shouldn't be there or it really shouldn't be there the apartment you are applying for may listen to your story but they won't be able to do anything about it. In the end you will still be denied unless of course you had the proof of payment you just paid it off. Contact me for more info about your situation and for a list of the right places.
The More You Know...
Multiple Apartments may have the same management company but won't necessarily have the same qualifications. Be cautious of the phrase "Just apply and see what happens". I know this all seems really confusing and frankly it is but that's what I am here for. I can make a list of Apartments based on YOUR qualifying situation so you can choose the best one and get APPROVED the first time without wasting time & hundreds of dollars to find out. Me finding you an apartment is completely FREE to you, I get paid thru the apartments when you lease a place plus I can even give you a $50 visa gift card when you move in to your new apartment! Contact Me for more info & to start your Search.
Apartment reviews are almost always going to be a reflection of the experience you can expect when moving into your new place. For example, If a 700sf 1 bedroom near the Domain is $1050/month, it most likely has better reviews than the same size 1 bedroom in the same area for $950/month. If a unit is $950/month & has good reviews, there is likely never anything available. Price can also vary based on renovations and location.