Ready to Rent a Realicore Property? Here's How You Can Qualify For a Property

No matter what your reasons are for renting, applying to rent your own space is an exciting prospect. As exciting as that is, it can also be a challenging process if you’re not prepared. Realicore Property Management, as well as other independent landlords typically have specific criteria that they use to determine whether a potential tenant is qualified to rent their property. Keep in mind that all property owners and property managers must abide by the Fair Housing Act as well as other local rent control laws or regulations without exceptions, so not everything in this article will apply to you. For example, there are major differences in laws in regards to renting a single-family house versus a duplex or even an apartment in California. Different cities, counties and states have varying laws around rent control. Realicore recommends that you, as a potential renter, complete research on what laws or regulations may be in place to protect you. Our goal with this article is to educate potential renters on ways they can increase their chances of qualifying for their desired rental. No promises or guarantees are made by this article that you will qualify or be chosen to rent a property owned or managed by Realicore. We typically receive multiple qualified tenants for each of our properties and we move forward with the most qualified tenant and follow all Fair Housing Act and local rent control laws when making our decision. Our goal is not to give specific advice on the qualifications we have for renters as it might be different depending on the property type or the owner we represent. This article is more of a general guide on how to be best prepared as you move forward in your rental search. Read on to see how you can be best prepared to qualify for the rental of your dreams!

Check Your Credit Report

First things first, before even applying to rent a property, you should check your credit report and see where your score stands. Your credit score is a crucial aspect that landlords or property managers look at when evaluating potential tenants. It's essential to have a good credit score since it shows that you're financially responsible and reliable. You can do this by using apps like Credit Karma, or by using your mobile banking app as most institutions like Chase offer free credit reports and monitoring. If your credit score is not up to the landlord's standard, consider taking steps to improve it, such as paying off your bills on time, and taking care of any outstanding debts.

Prepare Your Documents

Before starting your application, it's essential to have all the necessary documents ready. You'll typically need to provide proof of identification, such as a social security card, ID card, or passport. Additionally, you'll need to provide proof of income, by submitting copies of your recent paystubs, bank statements, or tax returns if self-employed. Prepare these documents in advance to avoid delays in the application process.

Complete the Rental Application 

Most landlords or property managers review rental applications on a first-come, first-served basis. It's advisable to submit your application as soon as possible to increase your chances of being accepted. Every adult that will be living in the rental property must complete the rental application. Ensure that you fill in all the lines and provide all the necessary information. Since most rental applications are now online, they usually require their fees to be paid electronically using a credit or debit card. Realicore Property Management does require applicants to pay an application screening fee, credit check and background check to each applicant over the age of 18 using a credit or debit card payment.

Rental History 

Most landlords, including Realicore Property Management, require potential tenants to have a good rental history. They want to see that you've been responsible with your previous rentals and paid your rent on time. Realicore Property Management doesn't accept applications from applicants with an eviction history. So, make sure that you have good rental history, and if you've been evicted before, work on improving your rental history to increase your chances of becoming approved.

Down Payment

Renting a property requires a financial commitment. Most landlords require tenants to provide a security deposit, first and last month's rent, and a pet deposit if applicable. Realicore Property Management requires one month’s rent as a security deposit in the form of a cashier’s check or money order when signing a rental contract. It's essential to have these funds readily available to avoid delays in the application process. When you are renting with a pet, keep in mind that landlords cannot deny you based on having a pet if the pet is ESA certified as this would be against ADA laws.

Rental Insurance

If your application is approved, you'll want to obtain a renter's insurance policy. Realicore requires all of their tenants to have active renter’s insurance policies for the duration of the lease. Although not all landlords require rental insurance, it's a good idea to consider it as it can protect you from unexpected damages or theft and also provide liability coverage.

With these tips in mind, you can move forward confidently and find the perfect rental property to call your own. For more information on what Realicore Property Management requires for their prospective tenants and other useful tips, click here.

Disclosure: This article was written as of 3/03/2023 and only applies to Realicore’s rental policies as of that date. Certain laws or requirements may have changed after that date and this article may no longer be applicable. For Realicore’s latest requirements please read our currently active property listings to see what you must have to qualify. Realicore follows the Fair Housing Act in all of its practices.