Since time is always of the essence in such demanding market, we want to make sure you do not miss out on a great deal. We will advise you on all required paperwork. The documentation and paperwork must be in order so that the landlord or management can approve you for the apartment you have chosen. We recommend that you prepare as much as possible prior to locating your apartment so you can be ready, should the need arise to react quickly. To achieve the successful completion of your search the following list will help you prepare:
Letter of Employment on the company letterhead, with the following information:
2. Length of employment.
3. Annual income.
In most cases an offer and acceptance letter for a new position is not sufficient.
Note: Annual income should be in the range of 40 to 52 times the monthly rent; your rent should be approximately 25% of your annual income. So if your annual income is 100,000.00, your rent expense can be up to 25,000.00 per year.
Note: Depending on management’s requirement, if your annual income is below the needed amount or if you are not working and are not generating income or if there is a requirement for a certain length of employment, then you might need a Guarantor. More information about the guarantor’s requirement is listed below.
Copies of your 3 most recent pay stubs are required.
In most cases, the landlord / management company requires that you submit a copy of your most recent Federal Tax Return (1040). You should have these ready just in case. If you are self employed or if your income comes from several different sources, you will be required to submit your tax returns and a letter from a certified public accountant stating the nature of your business as well as a projected income.