MoveLine.com has some great tips regarding applying for a rental property. In this fast pace, competitive, and low inventory Grass Valley rental market, it is essential to be properly prepared when you find that perfect Grass Valley rental property. Read below to find out what financial documentation you will need to accompany your application when applying for a Grass Valley rental. The more prepared you are ahead of time, the better chances you have of beating your competition in this competitive Grass Valley rental market.
The truth about most real estate markets is that perfect rentals don’t last long. If you don’t act fast, it might be gone tomorrow. Johanna found their new apartment on Craisglist after only six days of searching.
“We were expecting to be stressed out for three weeks,” she says. “I saw a listing that didn’t look so great but I had a feeling that the pictures were old and it ended up being great for what we were looking for.”
Johanna was somewhat surprised when the building’s landlord began asking for lots of documentation about the couple’s finances – even though the building isn’t particularly fancy, she says, and doesn’t have a doorman. Luckily, she’d come across a blog post before their search that explained all of the financials renters might need beyond just filling out the rental application.
“The list was very extensive, so I thought it was for when you wanted to buy a co-op or something like that. But I made sure to have the parts that took longer to get. When the landlord started asking us for so much more stuff, it wasn’t that hard to get the rest of the documents.
“The process was pretty intense. He checked each of our credit scores, bank statements, pay stubs, he called our previous landlords.”
Getting your financial ducks in a row is like getting pre-approved for a mortgage before you go house hunting. You’ll be more likely to snag that perfect place if all you have to do is fill out the application and hand over any financial details right there on the spot. Keep in mind that documents will be required of everyone on the lease.
Get ready to snag the perfect rental with this financial docs checklist:
- Letter of employment – on company letterhead with your salary and start date.
- Pay stubs
- Letter of reference from your previous landlord(s). If this is your first rental, provide names and phone numbers of personal and/or professional references who can vouch for you.
- Bank statements
- Tax return(s) from the last two years – especially if you work for yourself