FORTELIVING PHILLY
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Where to start?
Three main things are important when beginning your search for a rental property
Monthly Income
A good rule of thumb is to divide your monthly gross income by three and that's how much rental you can be approved for.
The longer you've been at your job - the better. Most landlords will want to see recent paystubs and possibly bank statements showing that you have move in funds available.
Credit Score
A credit score is an important factor in being approved for a rental property, landlords often use it to assess a potential tenant's financial reliability and the likelihood that they will pay rent on time.
Many landlords prefer a credit score of 600-620 or higher. Lower scores often lead to a higher risk of rejection.
Rental History
Rental history is arguably the most important factor a landlord considers when approving a rental application, it provides evidence of your behavior and reliability as a tenant. A landlord views a past eviction as extremely high risk, as the process of evicting a tenant is time- consuming and expensive. Positive references are a plus.
