Follow these nine steps, and you'll be ready to tackle the renting process with confidence. Determine your budget. Identify your priorities. Ensure you have a good credit score. Search for an apartment. Take an apartment tour. Submit your rental application. Complete a background check. Read and sign the lease.
The combined average credit score of all Applicants must be equal or greater than 600. Co-signors will not be accepted. No credit history or a credit score of NA will require a copy of the applicant's social security card and security deposits in the amount of one and a half times the monthly rent.
Renting an apartment isn't as easy as waltzing in and saying “I'll take it!”—particularly in today's competitive rental market. With many prospective tenants to choose from, landlords can be picky, and they will prioritize applicants with a track record of paying off debts and respecting their neighbors and community.
Breaking a lease, for whatever reason, will not automatically result in a derogatory mark on your credit history. Potential credit problems arise when any incurred debt isn't repaid to the landlord, prompting the landlord to turn the account over to a collections agency.
Both parties agree to the terms of the lease, including the rental amount, length of time for the contract, as well as any consequences that may result if either party doesn't uphold the terms and conditions of the contract.
While you can technically use EIN to rent an apartment, it's important to note that not every landlord will go for that. EIN is a business identification number, and some landlords view businesses as riskier tenants when compared to individuals.
In Arizona, tenants are legally allowed to break a lease before the agreed upon end date if certain conditions are met. These include military deployment, domestic violence, uninhabitable living conditions, or if the landlord violates the lease agreement.
In conclusion, the decision to operate without a written lease agreement is a risky proposition for landlords in California. By having a written agreement in place, landlords can establish clear rules, protect their interests, and minimize legal risks.
Housing (rent or mortgage) should not be more than 1/3 of your income before taxes. If you work full time (40 hours) at $12 per hour, that's $2000 per month, so you shouldn't spend more than $667 per month on housing. That's definitely going to restrict where you can live.
Many apartments require that you have a gross monthly income of three times the rent. List all your other expenses, subtract them from your monthly gross income, and leave a little buffer for one-off expenses to figure out how much rent you can afford.