Rental Application Checklist
Completed Application
Copy of Valid Driver’s License or ID
Proof of Employment / Minimum 2 months of your most recent pay stubs
Credit and Background Check from a service such as MyRental. Your Heart & Home agent can do this for you.
How To Prepare for Renting a Home
Be mindful of your credit score! Know your number. Higher credit scores are commonly a priority to landlords when choosing a tenant. This tells them that you are timely with paying your bills and how much debt you carry.
Budget for application fees which average $30-50 per person.
Determine if you need a cosigner.
Have 2-3 months of your most recent pay stubs ready to submit with your application. Be sure that files to be submitted online are PDF files. Many landlords will no longer accept screen shots of paperwork.
Fill out your application paperwork clearly and completely.
The Price-to-Rent Ratio:
Take your monthly rent amount and multiply it by 12, so it's a yearly rent total.
Divide the purchase price of a similar property by that yearly rent total.
A ratio greater than 20 generally weighs in favor of renting, while a figure less than 20 generally favors buying.