In order to apply for an apartment, you will need a decent amount of supplementary information. It may seem a bit intense, but the landlord wants to be sure that they have a qualified applicant – one that is sure to pay their rent on time. While the exact paperwork varies from owner to owner and management company to management company, the following list will be the bare bones required by an owner.
Completed Application Form – This form will have the standard information – you, your rental history, employment and employment history, bank account information, etc. Be sure that you have your previous landlord’s contact phone number, as most owners will want to check to be sure you paid your rent on time. If you owned an apartment or lived at home, put that as well. This form will also usually ask you to consent to a credit and or background check, which is key for owners to ensure that you have a clear record and good credit history.
Bank Statements- Usually one or two recent bank statements (checking and savings), as well as any significant accounts (investments, bonds, etc). This shows the owner that you have the means to pay for the apartment. Some will want to be sure that you have a few month’s rent in liquid assets (checking/savings), so that incase you unexpectedly lose your job you will still be able to make the monthly rent payments. In rare cases, they may want to see 6-12 month’s rent available. Make sure these statements are recent (within a few days), and have your account number as well as name visible on them.
Employment Letter – This letter will usually come from your companies human resources department. It should state your position, length of employment, base salary, and any expected or discretionary bonus. The form should be on company letter head, and signed, along with contact information for your boss or the person in human resources that should be contacted.
Recent Pay Stubs – These are just another way to ensure that your salary is what you stated it to be. These can either be copies of your paychecks themselves, or the direct deposit slips that may receive in the mail. You are usually expected to show the two or three most recent statements.
Tax Returns – Another way for owners to ensure that you are financially capable of paying your rent is to check your tax returns. Most will require the first two pages of your most recent (or two most recent) tax returns. This includes the signed second page, which ensures that this is the version that you filed with the federal government.
The aforementioned documents are what we call the ‘standard’ rental application packet. If you are applying for a Co-op or Condo sublease, there will be additional information required, usually including letters of recommendation, asset statements, and often a person interview with the board.
