Top 5 Tips: Approval for an Annual Rental
Finding an annual rental property in Southwest Florida—and securing an approval before anyone else succeeds and moves in—has been difficult during this year's rental boom. Realty Group of SWFL is here to help with our top five tips to make the application process as easy as possible for you and your family.
1) Ask Questions
When you find a new listing that fits your family's needs and budget, call the property management company for up-to-date information regarding the availability of the rental. If you're inquiring about one of our properties, you can give us a call at (239) 949-0404.
We recommend asking a few important questions.
- How many applications do you currently have for this property?
- What do I need to submit with my application?
- What are the requirements for approval?
We have an in-depth list of our approval requirements in our Residential Selection Criteria, so read it thoroughly and call if you have any further questions.
2) Stay Informed: Credit Score & Income
It is important for all applicants to know their credit score and income when looking for a home to rent. Once you have this information, confirm whether or not what you have meets your application's requirements prior to applying in order to narrow down your search to properties with likely approvals.
To learn your credit score, you can ask for one free copy of your credit report every 12 months from each of the three nationwide credit reporting companies.
Are you a first-time renter and don't have a credit score? Does your income not meet our criteria? Reach out to family and friends and find a cosigner.
3) Have All Application Materials Ready Prior to Applying
Make sure you have proper documentation of all the application materials you are asked for at the time of applying, not afterward. When you submit your application, call to confirm everything was properly submitted. Submitting an incomplete application, or not submitting an application for every applicant, can delay the processing of your application. This can lead to falling further down the list of applicants and hinder your chances of being approved.
4) Ensure All Contact Information is Accurate
Prior to submitting an application, make sure all applicant phone numbers and emails are correct so that we may reach out to you with any questions we might have. It is also important to check you have the correct contact information for your employer, references, and current and past landlords. When submitting an application with Realty Group, we ask that you inform your employer and current landlord we will send them an email with a few questions. The quicker they reply to our questions, the sooner we can notify you of an approval.
5) Be Ready to Meet Certain Requirements After Approval
Every owner requires different deposits and payments after a tenant approval, and these can differ between rental properties. Make yourself aware of the requirements for the property you are interested in prior to applying in order to ensure you have everything ready once you receive an approval.
Here are some common items asked for after approval:
- Security Deposit
- Pet Deposit
- Amenity fees
- Utility Set-Up
- Homeowners Association (HOA) Fees
If the property belongs to an HOA, expect to fill out their application in a timely manner as well.