How The Rental Process Works

Tuesday, January 11th, 2022
man signing a document

The process of renting a house or apartment can be much more complex than many people realize. This is because there are a variety of different forms that must be filled out, as well as certain requirements that must be met for renting to be possible. In this article, we will go through each step in the renting process so you know what to expect.

Rental Application

After doing research, touring rental houses, and deciding which one is right for you, you will need to fill out an application to rent that house. Depending on the landlord’s preference, you will fill out the application in person or online. If you plan on having roommates, they will need to fill one out as well.

Not all applications are the same, but a typical rental application will require information that you should have easily available when filling it out. This information includes photo ID, name, address, phone number, email, employment and income information, references, whether or not you will have pets, and background information. Other information is usually filled out when signing the lease, so that will come after you get approved for the rental house.

Depending on where you’re trying to move, you might have to pay a nonrefundable application fee. Even if you don’t get approved, most places make you pay the fee anyway. This fee covers the cost of screening for credit and background checks for the applicant. Before you agree to anything, always ask about any fees related to the application or rental process, so you are prepared.

Credit And Background Checks

After you fill out the application, your renting agent or landlord will run a credit and background check on you. These checks will look at your credit, employment history, rental history, and criminal background. They are looking for any negative marks on your record that would make you less of a candidate to rent their property.  For example, if you have an eviction on your record, the renting agent may not want to rent to you.

The renting agent or landlord will make the decision based on your credit report. If it is positive, you will be considered for renting their property. If it is negative, you won’t. If you have a record of paying your rent on time, and have never been evicted, you should be fine.

Income Requirements

In addition to your credit and background check, renting agents often have income requirements that must be met before renting a house or apartment. This helps them ensure that you will be able to pay the monthly rent. If your income is not high enough, your application may be rejected. A lot of places require the renter’s monthly income to be three times the rent in order to be accepted. In order to prove that your income is high enough, you usually just have to share monthly pay stubs.

Sign The Lease

Now that you’ve passed the application process, it’s time to sign the lease. This is usually done in person, so the landlord can go over everything with you.  The landlord will include utilities, security deposit, and any other relevant information. Make sure you understand everything before signing. You don’t want to get stuck having to pay hidden fees after already renting the house.

Looking For A Rental House In Amarillo, Texas?

If you are looking for houses for rent in Amarillo, Texas, visit Highland Park Village today at 13300 Bandera Dr. in Amarillo. You can also call us at (806) 335-1451 or Contact Us by email to learn more about our Floor Plans and Specials.