Apartments for Cheap

Questions and Answers

Your Questions About House Rental Application

October 31, 2012

James asks…

Is it common on a rental application for a house to be asked for your bank account #?

They also asked for the account number to any loans we have like our auto loan. I’ve rented 5 places before and dont remember ever being asked for this info. Its through a company and not a private person renting a place. Thanks

Administrator answers:

This is not unusual. They want to ensure that you will be able to handle the rental payments without issue.

If they contact your bank, your bank will issue a rating, based on the following:

low: 1,2,3
mid: 4,5,6
high: 7,8,9

For example, if your account has a 3-digit balance beginning with the number 5 (e.g. $550), your rating would be a mid-3. If you had a 5-digit balance, beginning with the number 2 (i.e. $25,000), your rating would be a low-5.

This is just a way to ensure that you usually have enough money to pay your obligations. They will hope that you have a rating at least one level higher than your normal rent payment. For example, if your monthly rent is $850, they would want to see you with a low-4 or better.

Since your rating is based on your “average balance,” and not your balance on any given day, if this is an important factor for you, you should wait until the last possible moment to spend money. Having a good savings habit will help you with this also, as your savings account can be included in your rating. The first link below gives you an article that will help you build your savings without killing yourself.

I hope this helps. If you ever feel victimized or have issues with any landlord, contact National Consumer Rights Alliance for help. They can assist with a variety of consumer issues on your behalf, including legal and credit issues.

Good luck.

Paul asks…

f the tenant want to purchase the rental house&land from land lordwhat application he have to give to landlord?

the tenant is living in that house since last 35 years and now he want to purchase that land with house from land lord .so he want to give application to landlord regarding this matter what to write in it and with correct format.

Administrator answers:

Why you want to write?

Just talk to the land lord about your interest over the purchase of property and if he is agreeable to sell, negotiate and buy.

Good luck!

Ken asks…

What are some tips to be successful on a rental application?

I am a single mother, I work and study at Uni. I am boarding in my parents house at the moment and I have been looking for a rental house around Woy Woy for 6 weeks and have not been successful in my applications. What are some good tips to have a successful application? And how can you find private rentals?

Administrator answers:

The main thing an owner wants to know is if you can pay the rent and take care of the property. If you have no rental history, then you are an unknown. They will also check your credit history. It also depends on how long you have been at your job and if you can convince them that you will take care of the apartment. Some places illegally discriminate against people with kids.

I suggest you start paying rent to your parents to establish a history. You should also get a copy of one of your credit reports and find out if there are problems on it. The official link for really free copies is below. (this one is not one that makes you sign up for monitoring or run by private companies to rip you off)

You might also look for housing for low income people, if you are low income. The places are more affordable and they are more willing to rent to folks who have challenges in their history.

John asks…

When applying for a rental house, how do you pay for the deposit and all the application fees?

I feel like I’m going to go broke paying $45 for each application fee and then $800 or more for a deposit plus first month’s rent.

Administrator answers:

Only pay an application fee if you really want the place and honestly believe that you meet all the landlord’s or management company’s financial, credit score, reference, and other requirements.

You only pay the deposit AFTER your application has been approved. That is paid when BOTH landlord & tenant sign the lease. Never pay any deposit or rent until you are approved and have a signed lease. Attach a copy of your check to both your & landlord’s copy of the fully executed lease. The first & last month’s rent is often paid at lease signing. But only pay first (& last, where required) if the apartment is vacant & will be ready to move into on the lease start date. You must pay first month’s rent before you get the keys, of course.

You should be prepared to pay 3 months rent in advance: security, first & last; or 2 months security + first month rent. You will also need to have enough for all utility deposits and turn-on fees. And given the economy, more landlords are checking to see that you have at least 3-6 months of reserves saved up as well. If they are asking about your savings account, they are checking on your reserves as well as upfront rent & deposit funds.

You can often eliminate “application fees” or “credit check fees” by dealing with smaller landlords directly instead of management companies. Also have employment verification letter, reference(s) from current (and prior) landlords, and character references. Doesn’t hurt to check your credit report, or even carry a printout of it with you. Be prepared.

Jenny asks…

Why would they post signs for an open house if ive already submitted application for house rental?

Theres a house for rent that i went to look at with a realtor last week and i submitted the a call back that everything looked good but owner wanted to meet with me this weekend….to my understanding the owner agreed to lease as long as we met face to face…today i see a sign posted up saying that an open house was going to occur the same day as my meeting with the owner and that was put up by a different realtor from the same company….i havent been able to contact anyone but what could be going on?

i still have an appointment with the owner…she hasnt cancelled

Administrator answers:

I agree with rtfm…typically people don’t hold an open house if they are just renting. Is it possible the property owner is selling the house?

Get the number of the realtor listed on the open house sign, and call him/her anonymously, asking about the “house for sale” at such and such address, just to see what they say. If they say it’s just an open house to sell the house, then make sure there is a clause in your lease saying that they can only sell the house as a rental/investment property, and that the new owner cannot force you to leave until the term of the lease is up.

If it is an open house to attract renters, then I would assume the property owner is covering his/her bases, just in case you change your mind. I work at a banquet hall that does weddings, and if I held every date for every person inquiring about it, we would never book any weddings. More than 50% of the time when someone says they want to book our facility, they either don’t show up, or change their mind, so we tell people the date is still open until we actually have a cash deposit.

Susan asks…

Should I use my girlfriend as a reference for a house rental?

I’m wondering if I should use my girlfriend as a reference on a housing application. I already plan on asking one of my coworkers, and I was trying to think of other people to ask, but most of my friends are applying for the house with me. I could ask another of my coworkers, but we don’t know each other that well, and I don’t want to use two coworkers from the same family (I work at a family run business, so they’d both also be my bosses)

Any thoughts on this?

Administrator answers:

Yes, why not.

Betty asks…

california rental application

where can i download a house rental application for california.

Administrator answers:

I do not know, but if you do not find one email me your real email address and I will send you one, as well as the other forms you will need.

No strings, it will not cost me to send it to you. But, I can’t attach it to the answers email system, I will need your yahoo, or other email address.

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