Hey everybody, a question we get a lot is what do I need for my rental application?
We filmed a short video to share a short video, tell you what you need before you fill out an application.
***Please note that these requirements may change or be updated. Please refer to the application page/site for the most up to date information***
Rental applications can sometimes be confusing. And a well put together property manager will have a very disciplined underwriting process. In this video we walk you through exactly what you need to m…
First of all, you need to know there’s two ways to fill out an application with us.
Those are our two ways to fill out an application.
We look for five things when we are underwriting an application. I want to hit those real fast. They are actually written here on this document, right there.
1. The first thing is we look at your credit score. We determine that based on the price of the house. If it’s an 800 or below house, we look for a 520 credit score. If it’s 800 or above, we look for a 580 credit score. There is a way you can submit an extra deposit if you fall below those credit scores, but look at the site for that for more information.
2. The second thing we look for is simply a favorable work history. We want to know that you have consistently held a job, and/or have a job today. We’re going to verify that employment. So one of the things you would need is to be able to tell your employer that we’re going to call. Give us the information, give us accurate information. Some people use the work number. Let us know when your employer uses that. It’s very important to get us the right information.
3. The next thing is a favorable rent history. Obviously, we want to know that you’ve been a great tenant, paid rent on time, taking care of the house, the last house, the last few houses that you’re at. We’re going to call one, possibly two, previous landlords. So we urge you to put the correct contact information for getting in touch with those landlords. Obviously, that’s something that holds up the process if we’re not able to call your landlord and verify. If it’s the wrong number, we can’t get in touch with them. That’s something that would hold up the process. So making sure that we have very good landlord information.
4. The fourth thing is showing ability to pay. This is where you would bring your check stubs. Very important for you to provide that information for us. If we have to go find it, that’s going to hold up your process. We look for three times the gross monthly rent and income. Let’s say, the house rent is for a $1000 a month. If the house rent is for a $1000 a month, we want to know that you make $3000 a month in income.
5. The last thing we look for is a criminal background check. We look for a history of violent felonies, and we want to make sure that there’s no consistent violent misdemeanors. If you committed a non-violent felony over 10 years ago, you’re fine, that’s not going to affect whether you rent from us. The other thing is we just want make sure there’s no consistent violent misdemeanors.
So the three things you especially need to submit with your application would very simply be a good way to get in touch with your current employer. The second thing would be a good way for us to get in touch with your landlord, and the third thing would be pay stubs, so that we can see how much money you make.
That’s it. I hope this is helpful. I hope you apply with us. If you have any questions, you can submit those to [email protected]. Thanks so much for thinking about being a gk tenant.