Finding your dream apartment is just the beginning. Once you've toured your potential homes and chosen the perfect one, the application process begins. While straightforward, this process can sometimes be challenging due to stringent landlord requirements or high competition in desirable neighborhoods. But fear not! We're here to guide you through every step to ensure you secure your new abode without a hitch.
Step 1: Completing the Application
Filling out the application thoroughly and accurately is crucial. Typically, you will need to provide:
Contact information
Social Security number
Driver’s license or state identification card
Current and past rental information
Employment details and salary
Personal references
The application could take anywhere from 20 minutes to 1 hour, so be prepared. Collect all your information in one place for ease in future applications. If you have a pet, a separate application might be required, detailing your pet's vaccines and registrations.
Application Costs
Fees for rental applications vary but generally range from $50 to $75. These fees cover background and credit checks, ensuring that potential tenants are reliable and can maintain the property responsibly.
There is also the admin fee that will take the unit out of the market. The cost can be anywhere from $400 - $500
Required Documents
Gathering the necessary documents can be time-consuming, but organizing them beforehand can expedite the process. You'll likely need:
A valid photo ID
Proof of income (e.g., pay stubs, bank statements)
Credit history or report
Rental history
References from previous landlords or personal references
Proof of renter’s insurance
Pet documentation, if applicable
Credit Checks
Landlords will conduct a credit check as part of the application. While some properties might be flexible about credit scores if your overall financial situation is solid, it's still a pivotal part of many applications.
Approval Timeline
The wait can be nerve-wracking, but most landlords respond within 24 to 72 hours, especially if your application is complete and all documents are provided upfront. Having a co-signer ready can also speed up the process.
Potential Hurdles
Challenges can arise, such as delays in obtaining your credit history or verifying employment. Being upfront about potential issues, like a non-traditional job or a past credit mishap, can help manage these effectively and prevent delays.
Once Approved...
It’s time to pack that your dream apartment waits for you.Â
Free Support with Your Apartment Hunt
At Chicago’s Best Rentals, we make finding and applying for an apartment effortless and free. Whether it's landing the best deal or navigating the application process, we're here to help every step of the way. Ready to find your perfect apartment? Let’s get started!
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