The Home Rental Application Process
Owning a home may seem like the ideal, but renting is actually the best possible choice for many individuals and families alike. It allows you to settle in without a long-term commitment, and you can enjoy your own space without worrying about maintenance costs or a mortgage. The first step to making a property rental your home is the application, and Middel Realty is here to help you understand every step! Read on to learn more about the process, and apply for one of our hypoallergenic single-family homes in Fort Collins today!
You will need to first fill out a rental application to let the landlord or property management company know you’re interested in one of their properties. It gives them a lot of basic information about you and your rental history so they can gauge if you would be a good fit for their neighborhood. Some of the information you can expect to provide includes:
- Your name and address
- Your rental history
- Vehicle information
- Employment and income information
- Personal references
- Information on past criminal charges or bankruptcies
Proof of Income
In many cases, your income needs to be at least three times the monthly rent you’d be expected to pay in order to qualify as a potential renter. At Middel Realty, we ask that your income is two and a half times the amount of rent we collect. There are several ways you can provide this information, including through copies of your paystubs or a W-2 form.
The Middel Realty team will also contact your employer to confirm the information you provide us. We recommend informing your employer ahead of time that they may be contacted in order to streamline the process.
Whenever you submit a rental application, there are a number of fees and deposits you may be expected to pay, including application fees, processing fees, and/or a security deposit. These payments may or may not be refundable depending on the landlord or property management company.
At Middel Realty, the application fee is $35 per application, which you can pay online. We do not ask for any processing payments, but we do require a Performance Deposit to reserve the rental home for you during the application process. This deposit is equal to the advertised price of the rental home in question, and it is refundable if you withdraw your application within two days. If you withdraw after you have been notified that you were approved for the rental, however, that deposit is forfeit.
Now, your part of the process is done! You should be available to talk if any questions arise regarding your application, but the rest of the process is done largely behind the scenes by the landlord or management team.
Next, your landlord will submit your name for a background and credit check. The information they receive will help them learn more about your dependability and suitability as a tenant. No credit, poor credit, outstanding debts, or a criminal history can all contribute to any rejections you receive, but the Middel Realty application you fill out does give you an opportunity to explain any negative results we may find, and you can apply with a cosigner if your credit doesn’t qualify you to rent. Once the rental team has reviewed the results of your background check, you will know within a few days if you have been approved for your rental home!
Are you ready to take the first step toward finding your home in Fort Collins? Explore the rental listings Middel Realty has available, and fill out an application today. We take pride in our clean, well-maintained homes and in our dedication to making sure our residents have a great experience. Contact our team today to learn more!