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Two Tips For Getting Approved To Rent An Apartment

April 26, 2012 | Comments: 0 | Views: 451

In the old days, getting approved was more-so done on the basis that the apartment community owner trusted you'll pay your monthly rent on-time, and less on credit. In recent times, credit has been a much more powerful factor in getting approved to live in an apartment community, and lease agreements are looking more like what you'd see when buying a home. With the recent economy in a state of collapse, many home owners' credit has disappeared, and they are unable to even qualify to rent an apartment. I understand that having a roof over your head is critical, and getting approved to live in an apartment community is harder than ever before, so I've outlined a couple of techniques that you can use to help expedite the approval process and move in to the apartment community of your dreams.

First, you should look at the monthly cost of where you'll be living. If the cost is great, and you have bad credit, and a low monthly income, you're not likely going to be approved. One simple strategy is to indicate on your application that you make more money (show your total gross income before taxes), and round up. Most apartment communities don't request to see pay-stubs, and rely more heavily on what they see on the computer screen than anything else. A higher income will push your score higher, and even if you have bad credit, may even get you approved. In many cases, you could be approved for a higher deposit, but that's OK because you'll get that back when you eventually move out, provided you've left the apartment in the same condition it was in when you moved in.

Second, bring a cosigner with you. Most apartment communities today are willing to accept a cosigner as a means of moving you in. Apartment managers care less about who will be paying the monthly rent, and more about actually collecting the rent. If your cosigner is approved, you'll be able to move in to the apartment, pay your rent, and then have the cosigner removed after a certain period of time. Of course this isn't ideal, but it could be the difference between moving in or not.

We hope this has helped you to determine the best approach for your apartment application, and that it will prove useful when you look for a new place to move in to.

I've worked in the property management industry for 3 1/2 years, and have also been a renter myself. I've learned all the tips and tricks necessary to ensure the best outcome while doing the initial apartment search, as well as getting approved for beautiful apartments for rent that you'd like to potentially move into.

Source: EzineArticles
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