In 2016, the percentage of renters in the U.S. was the highest it’s been since 1965. The number of people renting their homes has been steadily growing over the years, while the number of homeowners has remained largely the same.
With so many people renting today, it’s important to know the rules and conditions of renting.
For this reason, we’ve compiled a first-time renter’s guide to help young tenants understand what they’re getting into. We’ll list some common requirements for apartment applications in the paragraphs below.
1. Paystubs
Landlords obviously aren’t going to rent to someone who can’t pay them. To avoid being taken advantage of, most of them will ask for some proof of employment.
One of the best ways to prove that you’re employed is to provide paystubs. A paystub is often given to employees along with their paycheck. While your paycheck shows your net pay, the pay stub shows total pay and various tax and insurance deductions.
Unfortunately, getting a paystub can be a bit more challenging if your paycheck is given out digitally. The good news is that there’s an online PayStubCreator to help you out.
2. Photo ID
We can establish a lot with photo IDs, the most obvious being that we are who we say we are. A valid photo identification is also required to prove your age.
A landlord may want to check if the ID is legitimate. A legitimate state-issued ID will earn you a tiny bit of trust with the landlord, while a fake ID will almost instantly get you denied as a tenant.
There are ways to spot a fake ID, so it’s best not to try it.
3. Rental History and Recommendations
While many renters are just starting out, and therefore can’t provide rental histories, having one can go a long way towards proving you’ll be a good tenant. Everybody has to start somewhere, so there are ways to rent an apartment without a rental history.
A first-time renter’s guide will tell you that the landlord’s biggest concern will always be money and financial security. You’ll need to prove that you won’t cost them money, either now or down the road. Paystubs and employment history can help prove this.
You can also provide references from friends and employers. Of these, employer references are the most important. While friends have a personal stake in helping us out, an employer has no such attachment.
If your employer says they trust you then you’re probably worth trusting.
Follow This First-Time Renter’s Guide and Snag an Awesome Rental!
Armed with the info in this first-time renter’s guide you’ll be well equipped to qualify yourself for an awesome rental. So get out, get looking, and get your paperwork together so that you can easily impress potential landlords.
