11 Documents Needed to Rent an Apartment [2024]

You put in the hard work, found your dream apartment, and are ready to sign. However, landlords and property managers want to make sure prospective tenants are the right fit, financially responsible, and reliable before handing over the keys.

Regardless of how you collect income, or what you're using to represent your rental history, here is a list to help you come prepared with all the paperwork you need on signing day. Congratulations!

What Documents Do I Need to Rent an Apartment?

1. Paystubs

A landlord needs proof that you're financially covered to make rent every month. It's not enough to just think you can swing it; they want to see that your income is stable and realistic. What's realistic when it comes to rental payments? The rule of thumb is your rent should be no more than 30% of your gross monthly income.

If your potential rent costs $900 a month, landlords prefer to see your income is at least $3,000 a month. However, there are exceptions in expensive cities like New York and San Francisco.

Bring along at least two pay stubs to show your income stability. You should also look back through your apartment application. If you guessed the amount listed on your pay stub, make a quick correction. Make sure any information that you share matches up to what is stated on your pay stubs.

2. Bank Statements

If you don't have pay stubs readily available, bank statements can help provide proof of income. Bring along at least two months' work of bank documents to show your landlord it's stable. Make it easy on your landlord by highlighting all of your paycheck and side hustle income so they don’t have to scan through everything. They'll appreciate the extra effort, and it will make the process smoother.

Cities in a competitive market landscape sometimes require both pay stubs and bank statements. It's always better to come over-prepared when signing your next apartment lease.

3. Offer Letter

Securing a new job is the perfect time to find a new apartment or take a step up in your rent to enjoy a larger or nicer apartment. Of course, if you don't have pay stubs or bank statements yet, you'll need an offer letter.

Your new job can supply this information on a document with company letterhead. Showing your bank statements is still helpful in proving your past income stability. giving your landlord and property managers greater peace of mind.

4. ID

Before you sign a lease for an apartment, you'll need to bring along a document verifying your identity. A driver's license, passport, or other proof of legal residency is sufficient.

5. Proof of Renter's Insurance

These days, many apartments require you to hold renter's insurance, which usually includes coverage for yourself and your property in the case of an unexpected event. If that's the case, you will likely be asked to show proof of insurance on the day you sign your lease. Landlords often have an insurer that they work with or can recommend, or you can shop for one on your own.

6. SSN

Providing a social security number is part of the process when signing a lease. Of course, you might feel nervous about handing it out.. We all know these nine digits should be protected from wandering eyes. However, landlords and property managers need a social security number to run a background or a credit check on you.

If you provide your own credit report, you may be able to complete the process without disclosing your social security number. In situations where it’s unavoidable, ask for any documents with your digits back and shred them.

7. Credit Report

Your credit report offers valuable insights into your financial past. Your landlord may request a fee to run a background check and credit report, or you may be asked to supply your own. Regardless of whether you're responsible for handing over a report, you should still check it to know what to expect. Your credit report can be pulled for free from the three major credit bureaus.

8. Landlord References

Previous landlord recommendations can go a long way in securing your next apartment. Bring a list of prior residences and recommendations from your landlords whenever possible. Although landlords run background screenings of your rental history, having recommendations in hand puts you ahead of the rental competition.

9. Other References

If it's your first time renting or you live in a competitive rental market, personal references are helpful, as they can speak to your character and reliability. Make sure you're collecting quality references. Asking your buddies to write a reference letter isn't the best practice. Instead, focus on previous landlords, property managers, supervisors, and colleagues.

10. Uncommon Document Requests

Even with all the paperwork you gather, landlords sometimes request additional documentation. It's always a good idea to bring along extras just in case they want more

info.

• Canceled rent checks
• Copy of your social security card
• Past tax returns

It's more common for landlords to ask for extra documentation in a hot rental market or expensive areas with low rental inventory.

11. Your Guarantor’s Paperwork

A lease guarantor can be an essential part of the apartment signing process if you don't earn enough to meet the landlord's requirements, have poor credit, or have gone through an eviction.

Lease guarantors guarantee your rent if you can't pay. Because they're also financially responsible, the guarantor will need them to provide the same paperwork as you.

Find Your Next Apartment Today

Securing an apartment takes some preparation but does not need to feel overwhelming. Come with all of the required documents and anything extra you can think of that would help along the process to enjoy a smooth signing.

Take Apartment List's easy quiz to get matched with your perfect location, amenities, and price range.

FAQs About Documents Needed to Rent an Apartment

What is a good credit score to rent an apartment?

The average credit score for renters in the United States in 2020 was 638, though it is generally recommended that you try to maintain a credit score of 650 or higher. The average credit score for renters also varies based on location and building type.

Why is it important to have all your documents ready when you go out looking for an apartment?

Having all your documents prepared in advance makes it much less stressful in the event that you must act quickly to secure an apartment. Sometimes a new apartment has a lot of interest, and the sooner you are able to apply for an application and commit to a lease, the more likely you are to be approved.

What documents do I need to rent an apartment if I've never rented before?

If you've never rented before, be up front about it with your prospective landlord. First-time renters bring the same documents as other tenants. At a minimum, you should bring

• ID
• Paystubs (at least 2 recent ones)
• Bank statements (as needed)
• Credit report (if requested)
• Proof of insurance

What documents do I need to rent an apartment if I'm applying with a roommate?

When applying with one or more roommates, each of you brings the set of documents outlined in the article. Income and credit history for all roommates will be taken into consideration by your prospective landlord in determining whether you meet the minimum income threshold for renting.

Why do apartments need bank statements?

Landlords require bank statements to assess a potential tenant's financial stability. This information helps them determine if you can afford the monthly rent and other associated costs:

• Income verification: Bank statements show your income, proving you can consistently cover the rent.
• Financial responsibility: Regular deposits and bill payments demonstrate responsible financial habits.
• Risk assessment: Landlords want to minimize the risk of non-payment by evaluating your financial situation.
• Rent payment setup: Some landlords may offer automatic rent withdrawal, requiring bank account information.
• By reviewing your bank statements, landlords can make a more informed decision about whether you're a suitable tenant.

Can Landlords Check Your Bank Balance?

Generally, landlords cannot directly check your bank balance. While they can request bank statements to verify income and financial stability, they don't have the legal authority to access your account information in real-time.

What can I black out on my bank statement for an apartment?

To protect your sensitive financial information while still providing the necessary details for your landlord, you should black out the following on your bank statement:

• Account number: This is the most critical information to protect.
• Routing number: This number, along with your account number, is used for electronic funds transfers.
• Full address: You can usually black out the full address, leaving only the city and state.
• Credit card numbers: If any credit card transactions are visible, black out the numbers.
• Debit card numbers: Similar to credit cards, black out any debit card numbers.
• PIN or security codes: If any portion of a PIN or security code is visible, black it out completely.
• Online banking login information: If any part of your login credentials is visible, it must be blacked out.
• Other personal information: This includes any additional personal details that are not relevant to the landlord's assessment, such as social security numbers or date of birth.
• By blacking out this information, you can ensure your financial privacy while still providing the landlord with the necessary proof of income and financial stability.