Proof of Current Income

It is important that you provide the source of income that will cover the term of the lease. Acceptable proof of income: Pay stubs, W2 Form, retirement, court decree on child support or alimony. Self-employed or retired applicants must provide last 2 years of tax returns.

Income Requirement

Applicant: Gross monthly income must meet or exceed about three times the monthly rent amount. Multiple applicants’ income will be combined.

Credit History

The agent will get a current Credit Report which must show a satisfactory credit score. The exact credit score requirement is usually written in the listing for rent. The most common reasons for denial are: too much debt in the last 7 years, delinquent accounts exceed 24% of your credit profile, or eviction within the last three years.

Criminal History

Must have satisfactory criminal background. The most common reasons for denial are: Applicant has ever been convicted of any sexual related offense or VCAP (Violent Crime Against Person), has a felony record, or a 1st degree misdemeanor that was adjudicated guilty, or applicant has falsified information on the application.

Fees Required

The Home Owners Association, the owner of the property, if have pets, and the brokerage firm may all require a fee. Usually the first and last month’s rent are collected, plus a security deposit.

Signed Lease Agreement

The real estate agent or a lawyer will provide a lease agreement for all parties to sign, including children 18 years of age and older living in the rental unit.