Answer: They can both affect your ability to rent a house
Chances are you don’t remember every detail of the crazy party you hosted that Summer night during college. But you probably do remember the landlord’s surprise visit the next day, questioning the plethora of red cups on the lawn, the melted ice luge in the yard, and the guy passed out in the back with his navy college shirt on. If all goes well (and you send some nice flowers) the landlord will probably forgive you, however a good reference for your next home purchase is probably not in the cards. This may not seem like a big deal at the time.. until you graduate and begin your search for an apartment in a bigger town or city.
When I first set out on my apartment search out of college, I was amazed at how competitive the process was. I showed up in the morning to an open house, to find 10-15 others already lined up out the door with portfolios and checkbooks in hand. I politely surrendered and walked away, while vowing to come prepared to my next open house. With the many people also looking for apartments in large compacted cities such as San Francisco and New York, the apartment search can be very competitive. This is why it’s necessary to have all the needed documents, funds and credit in check. I never thought that the Victoria’s Secret Card I hastily agreed to, and subsequently forgot to pay in college, could lower my credit score and put me behind someone else on the pile of rental applications.
When attending any open house or appointment, I would suggest to bring the following:
- Credit Report- go to financial sites and talk to your parents and finance adviser for tips on improving your credit score. Even the slightest change can make a difference
- References from previous landlords- if you have only lived in dorms include parents or roommates (basically anyone qualified to rant how clean and responsible you are)
- Most recent pay stub(s)
- Photo ID such as licence or passport
- Checkbook for any necessary fees, and in case they offer you the house on the spot!
- Rental Application Form- a standard one can be easily downloaded from the Internet. Most landlords have their own ready but some require you to print your own
- Any letters of reference or a letter saying how interested you are in the house- this may sound corny but trust me it puts you ahead of the others
- Letter of Employment- this should include your position and salary
- A smile and great attitude- This is a home they have purchased and feel very close to, so of course they want to rent it to someone that they like and trust
