Regardless of the area, the rental market remains ever competitive. The wish to find rental apartment within the budget may sometime look like a pie in the sky. Therefore, it becomes very important to reduce the risk of losing bet for your favorite apartment, even it is short term rentals, just because of poor information or some lazy action.
We have compiled the following list of 7 reasons why your application could be denied even if you have completed the Rental Application Process:
In the rental market, the biggest limitation is that there is no guarantee that the apartment you finalized today may still be available tomorrow. Or you might go on seeing more available showings only to find that the one you set your eyes earlier is rented already. There is no exaggeration and it is very routine work in the rental market.
You shall keep a close eye on the merits and demerits of a property which attracted you and submit an application without giving it any undue delay. The argument is you shall remain prepared and once you find a home cater to your needs and fit in your budget you shall be ready to apply. Certainly, you would never like to run a fresh campaign to visit more houses to yet select one.
Landlords get to deal with tenants all the time and digesting anything unprofessional is just hard for them. The moment you showed some signs of interest in a certain property, your potential landlord will start screening your conduct. The landlord is going to make a judgment on whatever little interaction occurred between you both. Your emails, calls, or appointment will carry unallocated weightage in the final decision. Certainly, you would never like to run a risk of losing your selected apartment, try to observe manners, act professionally and show up n time.
The little span of interaction will help your landlord to decide whether you are going to keep good care of the property and respect the commitments or not.
Directions are your best friends in your pursuit of finding an apartment. If you were directed to preplan the appointment, you are not supposed to visit and knock at the door without a prior schedule or if you were asked to submit driver’s license, you shall not miss it.
The argument is the same here. Landlords need a reason to trust you; given little to nothing mutual relation. Your actions and reactions are sure gateways to the insight of your lifestyle. If you fail to observe directions here, it’s hard to imagine how you would respect future commitments and keep your words. Therefore, landlords are entitled to deny you the property.
In the same breadth, following them may boost your chances. Give a good peek onto the directions through whatever channel you get them and then act according to the instructions laid there.
Lying is simply asking for trouble where nothing was due. The thumb rule is never lie to your landlord about any of the information sought by the landlord. They have access to counter confirm the attached documents. They are sure to know the truths and deny you straightforward. In most cases, the lease agreements include a clause that if you lied in any of your particulars, the landlord is entitled to terminate the agreement and enforce the eviction.
If you feel like there is something inconvenient in your history e.g. your criminal record or poor credit score, the best solution is to let your landlord know that beforehand rather than being denied at the end. They might make any kind of allowance for you in that regard but if you caught lying, you are destined to be denied.
Your credit score is an important indicator in predicting your financial responsibilities and see if you will be able to make it or not? You have had your power bills in pending are likely to educate your landlord that you might skip rent as well.
If you face this problem, try taking steps to improve your credit score. Meanwhile, you may request to accept a higher security deposit in compensation. Don’t forget that your potential landlord can also run a credit check to make sure you are able to pay the rents.
Reference is one important document in your rental application. Landlords and property managers rest great belief in references to confirm your employment and rental history. Reference letters will have the contact information of the person and landlord like to validate the facts before concluding. If it is found out that you or the “reference” you listed is not authentic, it will be considered a proven lie and you will be denied the property.
Your potential landlord is likely to reach out to your previous landlord to get insight into your past. The most important information is whether you paid your rent in time or not. Or questions like you kept the property in good shape and observed maintenance properly. if your previous landlord does not vouch in your favor, you might reduce your chances of securing the deal.
The fact is as clear as the sun in hot summer day but still many renters aim to run the race against all odds. This could be a misunderstanding as many exhibit income requirements clearly but other landlords assume that renters are only going to seek those apartments which they can afford.
The general income requirement in the rental market is that a renter should be earning 3x the asking rental price. While you may consider paying a $1,500 rent for a $3,500 monthly income but it is less likely that your landlord but this idea.
To get a good idea of how much you should be spending on rent, divide your monthly income by 3.
You can also use rent calculator to calculate the same.
The bottom line:
Landlord aims to reduce the risk as low as possible so if anything bothers them they simply decline the application. To see off all the odds, make sure to observe the above-mentioned tips and you will certainly walk away with apartment’s keys you placed your application for.