How To Get Approved for a Rental Apartment in Los Angeles
When you're looking for a new apartment in Los Angeles, it can feel like you're a kid in a candy store. The city has so many beautiful and interesting neighborhoods to explore, as well as so many fun things to do and see. But when it comes time to find an apartment, you have to make sure that you'll be approved for the rental first—otherwise, all that exploring will have been for nothing! The good news is that there are plenty of ways for renters to improve their chances of getting approved by landlords. Here's how:
Know the basics of Los Angeles rentals.
If you're considering moving to Los Angeles, you know the rental market is competitive. The city has been ranked as one of the most expensive places in America to live, and it's not just because of rent prices: it's also a desirable place to be. So what does this mean for your apartment search? Well, first off, if you're looking for an apartment within a certain price range in LA—and let’s face it: who isn't?—you'll need to be prepared for some sticker shock. You might find yourself wondering how much your landlord expects from their tenants when they ask for 20% or more of your income as rent every month!
The second thing about Los Angeles' rental market that makes finding an apartment difficult is that there are so many people competing against each other during any given time period (e.g., move-in weekend). This means there will probably be more people than apartments available—and if they don't get into housing quickly enough maybe they won't get approved at all!
Get your credit report in order.
The first step in getting approved for a rental apartment is to make sure your credit report is in order. If you don’t already have a copy of your credit report, you can get one from TransUnion or Experian by going online and requesting it. Take a look at what is on your credit report, and fix any errors that were made by the previous tenant or landlord (for example, if they didn’t pay their bill). You should also check that all bills are being paid on time—the last thing you want to do is be denied because of an error in payment history! Additionally, you might consider getting some tips on how to improve your score before applying for an apartment; these often come with free trials or offers when signing up with certain services.
Prove that you have a consistent income.
Prove that you have a consistent income . Ideally, show 3x 1 month’s rent for income. If you do not have a job, or if your employment is temporary, be prepared to document the stability of your income source and the length of time it has been in place. If you are self-employed, show proof of steady sales or other business activity over the past 12 months. If you are unemployed but receiving benefits from unemployment insurance or welfare programs like Food Stamps and Section 8 Housing Assistance Payments/Section 8 Vouchers/Section 8 Rental Subsidy Programs/Housing Choice Voucher Program (HCVP), include copies of recent tax forms showing these benefits as well as pay stubs from previous employers demonstrating that they were paid on time throughout their duration.
Document any sources of income other than employment (elderly parent’s pension; alimony payments; child support, investments, savings).
Get letters of recommendation from previous landlords.
A letter of recommendation from your previous landlord is a great way to impress any prospective landlord. The letter should state that you were a good tenant and that the landlord would recommend you for another rental property. The letter should also include contact information for the landlord, so they can easily be reached.
Show you can pay your rent on time by paying bills early.
If you want to show that you pay your bills on time, pay them early. Paying your bills on time is one of the best ways to prove that you are responsible and will be able to cover rent payments on time.
Don't just send in a check when the bill is due: pay it ahead of time if possible. The more advance notice someone has about a payment, the less likely they are going to be late with their own rent payments later down the line.
Offer a higher security deposit up front to make you seem less risky.
You can offer a higher security deposit up front to make you seem less risky. If a landlord doesn't know you well and sees that you're offering twice as much money than the next person, he or she might be more likely to accept you as a tenant. A landlord may also require that all of your roommates chip in together for one big security deposit instead of each person paying their own separate amount.
It's important to keep in mind that landlords will ask for a security deposit because they don't want to be left out-of-pocket if any damages happen in the property during your tenancy, or when it comes time for rent payment and everyone decides not pay up (this is called being evicted).
Make your rental application look sharp.
Make sure your application is complete.
Have all the information you need on hand before you start filling out the application.
Make sure you have all the documents you need to apply for the apartment.
Have your ID and proof of income ready - provide 3 month’s of bank statements and 2 paystubs.
Making yourself look like a good financial risk is more important than anything else.
As a renter, your credit history is one of the most important factors in determining whether or not you’ll be approved for an apartment. That means fixing up your report if necessary and making sure it’s squeaky clean.
If you haven't already, get a copy of your credit report from all three major credit bureaus (Equifax, Experian, TransUnion) to make sure there aren't any errors on it that could be causing a delay in approval. Errors are common—and can occur even if you've never been late with a payment!
Once this step is complete, take some time to review each section of the report and make sure everything looks accurate. If anything seems off or unclear, contact the bureau that issued it immediately so they can investigate further:
Equifax - 1-800-685-1111; www.equifax.com/personal/credit-report/requesting
Experian - 1-888-397-3742; experian.com/freeCreditReport/center_request_form1?r=dgAjM&i=
TransUnion - 1-800 916-8800; transunioncsa.com
Conclusion
If you’re looking to rent in Los Angeles, you can follow these steps to increase your chances of getting approved. Just remember that it’s not always about what kind of person you are—it’s about how much money you have and how little risk you pose as a tenant. So do what you can to look good on paper and make sure your application is as perfect as possible before submitting it. Good luck!