How To Sign an Apartment Lease: From Viewing the Apartment to Signing the LeaseBy Jennifer Lai, About.com
Lease Form You’ve found an apartment you love. Now what? Well, now you begin the process of signing the apartment lease, during which you must not let your desire for the apartment turn off all critical thinking faculties. You are about to part with a lot of money and sign a legally-binding document that is difficult to get out of, so remain focused during this last stretch by familiarizing yourself with how the lease signing works.
Difficulty: EasyTime Required: Anywhere from one day to a weekHere's How:Submit an apartment application. Not all landlords use apartment applications. Typically, only property management companies, who lose out if the apartment is taken off the market, require an apartment application.
Individual landlords most likely won’t have you submit an application.
Pay an application fee (if any). When submitting the application, you’ll also pay a non-refundable application fee (also known as the application deposit). If you decide not to sign the lease, the application fee will not be returned to you. If you do sign the lease, the fee will either be returned or go into your security deposit.
Give the landlord the okay to perform a credit check. The purpose of the credit check is to check out whether you pay your bills on time. The landlord will ask you to pay the amount to cover the cost of the credit check and ask for your social security number. Or you can submit a copy of your credit report, which you can obtain prior to looking for apartments. Please note that many landlords consider a tenant with no credit history to be just as undesirable as one with a bad history.
Give the landlord the necessary information to contact your previous landlords. In addition to checking your credit history, the landlord verifies that you are a reliable tenant by contacting previous landlords. If you want to expedite this process, you can contact them prior to looking at apartments and ask them to write you a reference letter. You can then present this to the landlord right away.
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Monday, July 28, 2008
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