Property Management Blog
It’s not just the home rental process that requires lots of documents. From applying for financial aid to securing a job to obtaining a bank loan, proof of who you are can be requested in many situations.
Keeping up with your personal documents can make these situations happen in an easier, faster manner. Here are some ways to make the application process happen smoothly:
Review your credit report. Don’t wait until someone else requests your credit report to discover a discrepancy. You have the right to obtain a FREE copy of your credit report each year from every credit bureau (Equifax, Experian, Trans Union). To find out more about obtaining your FREE copy visit this website: www.annualcreditreport.com
Keep your employers information updated. It’s surprising how many people don’t know the correct phone number or name of the contact person who can verify their current employment. When your employer moves department locations from one building to another or hires new employees, it’s likely that the contact information has changed. Save time by verifying your HR information before applying.
Keep track of recent paystubs and other evidence of income. Whether you are self-employed or work for a small business or corporation, proof of income is necessary to established whether you have the means to actually pay the rent. Always keep paystubs and 1099s. An “Offer of Employment Letter” can assure a company that you have indeed been hired and will have a particular amount of money at your disposal. Tax returns and bank statements are another way of verifying income.
Hold on to rental or mortgage history records. You’ll be asked for these as proof of where you lived prior to applying for a home. These items also serve to verify your history as a good renter or homeowner. You will be asked to provide the name, address, telephone and fax number, and dates of tenancy for previous landlords for a particular number of years. At Tyson, we request this information no matter what country or state you resided in.
Make sure your ID is current. Obtaining an updated driver’s license or state ID card takes time. When you don’t have a current ID, you can’t apply for a property. Property management companies don’t usually hold an application when other applicants are available and have the proper identifying documents.
Check your criminal history records. To avoid losing your application fee, you’ll want find out what offenses are grounds for denial before you apply. At Tyson, we require each tenant on the lease to have no admissions of guilt or convictions for a list of crimes that include but are not limited to illegal drug possession, violent crimes and assaults, and domestic violence. Multiple offenses of these crimes regardless of timeframe are always grounds for denial.
Always keep copies of your court records and any proof of payment if applicable. Forgotten liens and judgments can keep you from qualifying for a home rental. You’ll need to provide proof that you paid judgments or had a lien released.
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- Melissa LaRose