If you’re just starting out looking for your first property or you’re moving to a new place, this article can be helpful. We take a look at the documents you might need when renting a property. Finding these things out and having them on hand is ideal to prevent any delays with the rental process. If you can’t gather all of these documents, your preferred property might be offered to another renter.
Character and employment references
References are really important when you’re applying to rent out a property; these documents help the owner or property manager decide whether or not you will be able to pay for the monthly rent and your general character, which could impact their decision. Landlords and property managers will want to deal with someone that’s responsive, trustworthy, and friendly; all of these characteristics are ideal if you’re looking to rent a new property. It’s a good idea to get your employment reference in a digital format so you can easily send this over to the property manager with your application. Your employment reference will detail your salary and how long you’ve been in that job. A character reference can come from your employer or a previous landlord; this will include general information about who you are as a person and any issues the previous landlord had with you as a tenant.
Payslips or employment contract
The landlord or property manager may also want more supporting information to verify your employment status. This could be in the form of your recent payslip or your employment contract. Each landlord or property manager will have different requirements for proving your ability to pay the rent; when discussing the application, they should provide you with a list of documents they need from you which will include what you need to provide to prove your finances are in good standing. Still, having these documents ready can help to speed up the process and show your future landlord that you’re organised and ready to move.
Confirming your identity
In addition to confirming you can pay for the rent, you’ll also need the right documents to verify that you are who you say you are. To do this, you usually need to show a passport or driving licence and a utility bill in your name and address. If you’re looking for an apartment for rent in Hong Kong, the property manager or landlord may request one or more of these documents to confirm your identity. Having these documents on hand digitally or in paper format can help speed up your application.
Credit check
This isn’t a document you’ll need to provide, but it is a critical part of the application process. A credit check will show the types of credit you’ve had in the past, your payment history and other information. If you’ve missed lots of previous payments or have struggled to pay back debt in the past, this will reflect negatively on your credit score. This can be one reason why your application for renting might be denied. However, in preparation for renting a property, there are things you can do to improve your credit score. Start by repaying any bills and debt on time, making sure you continuously do this and don’t get into more debt. If you haven’t had any credit, it could be useful to arrange something like a small organised overdraft that you can use and pay back promptly; this can help with your credit score. Here are some more tips about how to improve your credit score.
Getting all the documents you need ready, or as ready as you can, will help you apply for your favourite rental property. Once you see the application and have more details of exactly what you need to provide, you can hand the documents over quickly. Moving fast will show the property manager your willingness and could even improve your chances of success. In addition, if you’re unsure about your credit score, it might be worth checking it to ensure you’ll pass any credit checks. If you don’t have much history or have a poor credit rating, you can start doing things today to improve your score.
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