Once you put down a deposit on your apartment, you typically have two days to gather all the required paperwork. Getting as much of this paperwork as possible out of the way before that stressful two day time crunch will help everything to go smoothly. If nothing else make sure you have access to a fax machine or scanner so you can send signed documents back and forth.
Also keep in mind not all of these documents are needed for every apartment and you should talk to your broker about what you personally need. If you have a guarantor, a lot of these documents are unnecessary. The most important thing you have to have is money.
1. Letter of Employment written on company letterhead saying your current position and salary. If you’re unemployed, part-time, or freelance you will need a letter from your CPA stating what you’ve made so far this year (if anything) and a projected estimate of your income for the next year. It has to show that you have 40x the rent if you don’t have a guarantor.
2. Money for First and Last Month Rent – Basically you need to be able to afford two months of your apartment up front. Usually they want this either in cash or a certified check. You can get a certified check at your bank or the post office but make sure to check hours of either locations because this is one of those items you might need to get during a lunch break. Keep in mind certified checks usually cost a few dollars.
3. Money for a Security Deposit
4. Money for a Credit Check/Good Credit
5. Lease Application
If you’re using a guarantor they’ll need:
6. Lease Application – same exact thing but filled out with their information instead.
7. Notarized Guarantor Form – While you can’t get this form signed before hand, it’s good to look-up notaries in your area now so you know where they are located. Keep in mind a lot of notaries charge.
8. Letter of Employment – Same as yours. If they’re retired or self-employed they can also provide tax returns or a letter from their CPA stating their yearly income. It has to be 80x the rent.
