Renter’s Guide

From Condos to Homes

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Common Questions

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BUY or RENT?  

When renting or owning a home , there are cost involved.  Owning a home usually has higher up front costs, but while renting may be cheaper in the short term, buying may be the better option for the long haul.  The information below shows whether renting or buying is a better option for the given amount of time.

Requirements to rent a house?

1. Maximum Number of Applicants

For safety purposes, there is a maximum number of people that can live in each room. This is usually based on local fire codes.

Two people per bedroom is a general rule of thumb. So, for a two bedroom apartment, you can have a maximum occupancy of four people, unless your local code says otherwise. 

2. Copy of Valid Photo ID

You need to provide a valid government issued photo identification card.  A driver's license is a common form of identification, however a passport of military ID can also be used.

​3. Income Verification

You will need copies of your W-2's, 2 month pay stubs and/or copies of bank statements. 

4. Sufficient Income Level

Most landlords require that all tenants have a monthly income of at least 3 times greater than the monthly rent. 

For example. For a rental that is $1,000 a month, the tenant must have a monthly income of at least $3,000. For a unit that rents for $2,000 a month, the tenant's income must be at least $6,000 a month. 

5. Employment information

Your land will verify:

  1. Works where they claim to work.

  2. Makes the amount they claim to make

  3. That they are employed for the foreseeable future.

You can send a written notice to the tenant's place of employment requesting this information.

6. Good Credit 

 All landlords will ask permission to check credit in order to determine the tenant’s ability to pay rent on time. If credit is not good,  some landlords will make accommodations if your credit is not in good standing.  They may require additional deposits.  

 

7. No History of Evictions

​8. No Criminal History

Depending on the type of violation and the amount of time elapsed. some landlords will provide exceptions. 

​9. Security Deposit Amount Required

The security deposit amount is based on the monthly rent.  In general, this amount is about the same as one months rent.