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What Is The Process To Rent A Home?

YES Communities 05/06/2019

Are you interested in renting a home, but not sure how the process works or how you can qualify for a rental home?  Below is a step-by-step guide that will walk you through the rental process and all of the documentation you need to qualify for a rental home.

  1. Sign Residency Process Document: This document outlines the steps each prospective resident will go through during the application process by signing it you are agreeing to each step in the process.
  2. Complete A Credit & Lease Application: This document will require your personal information and consent to review your credit report and run a background check on all residents over the age of 18.
  3. Present Your Documents: During the application process you will be asked to provide the following documents to verify your employment, income, rental history, and credit score.
  • Verification of Income: Bring your most recent paystub/1099 that shows year to date income figure. If you do not have a recent paystub you will need to provide a W-2. IF you do not have either of these your employer will have to complete a “Request for Verification of Employment/Income” form.
    • If you receive additional income including alimony or child support you will need to provide a copy of a divorce decree & Friend of the Court Statement OR two consecutive bank statements showing the deposit of this income.
    • If you receive social security or retirement income you will need to provide an award letter and/or one recent bank statement showing the direct deposited funds of this income source.
    • Verification of Employment: You need proof of one year of employment; if you have been with your current employer for less than a year you will also need a VOE letter from your previous employer.  If there are any lengthy gaps between jobs, you will need to provide a letter explaining the time off until the new employment began.
    • Verification of Landlords: Be prepared to document the contact information for up to 60 months of your previous landlords including contact name, address and phone number. This information must be accurate and if it cannot be verified you will need to completed the “Request for Verification of Mortgage, Loan or Rent” form.
    • Verification of Identity: You will need to provide a state issued form of identification that includes your picture. Examples include driver’s license, passport, and US Military Id Card. You will also need to present your social security card as a form of identification.

Upon reviewing your application and all of your documentation, you will either be approved or denied for a rental home. Reasons for denial could include a criminal history, insufficient income, past evictions or a number of other factors.  

YES! Communities is proud to provide affordable homes for rent and we pride ourselves on making the rental process as seamless as possible. Find a community near you today!

If you have any questions in regards to the rental process we encourage you to call the office of the community you are interested in and they can walk you through the process and answer any questions you have.   

Thank you!

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