What To Put On Rental Application If Living With Parents admin, September 23, 2023 Moving out of your parents’ place can be exciting but also super stressful. As you start hunting for your own pad, the dreaded rental application looms – what exactly should you put down when you still live at home? Not to worry! This comprehensive guide will walk you through every step of filling out an application that landlords will love. Whether you’re a young professional getting your first solo apartment or someone who’s spent years under your folks’ roof, follow these tips to show property managers you’re 100% ready to fly the coop. ContentsGive Your Parents’ Details with ConfidencePro Tip: Give Your Parents a Head’s UpPersonal Details – Verify Your IdentityShow You’ve Got Income to Pay the BillsRental History? Don’t Stress if You Have None!Financial Records Back Up Your ClaimsHandpick References Who Have Your BackMoving Out? Share Your “Why”Always Have a Backup ContactBonus Brownie Points Never HurtHigher Security DepositPet ProfilePersonal TidbitsCo-Signer OfferYou’ve Got This! Time to Spread Your Wings Give Your Parents’ Details with Confidence Let’s kick things off with the obvious stuff – your name, phone number, email, etc. Don’t forget to include your parents’ contact information too! List their full names, address, and phone numbers so the landlord can confirm your current living sitch. Some applications even have a spot for “current landlord” where you can pop your folks’ digits. Don’t be shy to rope the ‘rents in. Letting the property manager reach out puts them at ease knowing you’ve got parental approval to spread your wings. Pro Tip: Give Your Parents a Head’s Up Shoot your parents a quick text before submitting your application – “Just so you know, I put you down as my current landlord for the Place on Cherry Street. They might call to confirm I actually live here. Thanks for being my reference!” They’ll appreciate the warning so they can pick up the phone and sing your praises as an tenant. Personal Details – Verify Your Identity Like any application, you’ll need to prove you are who you say you are. Make sure to provide: Full legal name Date of birth Photocopies of your ID (driver’s license, passport, etc). See also Best Paying Jobs In Real Estate TrustsIncluding your current home address with your folks shows consistency in your living situation – a big plus for landlords! If your last name doesn’t match your parents’, briefly explain the reason, like being married or divorced. Transparency upfront prevents any confusion. Show You’ve Got Income to Pay the Bills Not having your own rental history can make landlords nervous. But showing ample income sources reassures them you can handle payments. Be ready to provide: Your current job status Employer name, position, contact details Income statements from work Documentation of assets, benefits, or trust funds If you’re a student or currently unemployed, explain your situation and provide info on savings accounts, financial aid, or family support. The key is convincing landlords you’ve got the funds to make rent each month. Leaning on your parents’ stability can help too! Rental History? Don’t Stress if You Have None! If you’ve never rented before, it’s okay to leave this section blank. But if you have prior leases, be sure to include: Previous landlords’ names and contact info Addresses of your last 1-2 apartments or homes Dates you lived in each place Detailing a solid history of on-time payments gives you a major leg up. But don’t sweat it if you’re a first-timer – there are other ways to prove responsibility. Financial Records Back Up Your Claims Speaking of proof, financial statements make great supporting documents: Bank account statements and balances Investment portfolio overview Retirement fund balances Documentation of monthly bills or loan payments Redact sensitive info, but leave amounts to indicate your spending and saving habits over time. This gives extra assurance you know how to budget and handle money. Handpick References Who Have Your Back References help landlords understand your character from trustworthy sources. Think: Previous landlords or employers Teachers, coaches, religious leaders Friends (with their own place) Parents and family members Notify your references that someone may reach out to vouch for you. Then relax – your people will come through and highlight your best tenant qualities! See also What Happens If Someone Gets Hurt On Your Rental PropertyMoving Out? Share Your “Why” Briefly explaining your reasons for moving out, like: Starting a new job Attending school farther away Craving more independence This context helps landlords see you’re mature and responsible, not just bailing on your ‘rents. They’ll appreciate the glimpse into your motivations and goals. Always Have a Backup Contact In case of emergencies, landlords need someone they can contact if they can’t reach you. Provide the name and number of a trusted backup, usually: Your parents or family member A close friend not living with you Double check the person is willing to be on call before naming them. You don’t want your landlord endlessly calling your poor grandma! Bonus Brownie Points Never Hurt To really dazzle property managers, think about including: Higher Security Deposit Offering 1-2 months’ rent upfront proves you’re a serious applicant with cash in the bank. Just be sure you have the funds before putting this on the table. Pet Profile If you have a furry friend, share breed, weight, age, and licensing paperwork. Reassure the landlord your pal is house-trained and you understand pet policies. Personal Tidbits Hobbies, lifestyle facts, and housing wish list desires show your personality. Keep it positive – save venting for the group chat. Co-Signer Offer Suggesting a co-signer like your parents makes landlords feel extra secure. But double check they’re willing and able before naming names. You’ve Got This! Time to Spread Your Wings A fully fleshed out rental application even without classic rental history. Following these tips for providing context on your financial background, character, and ties to your parents will help assure landlords you’ll be a responsible tenant. Soon enough, you’ll be packing up those boxes and embracing apartment life. Trust the process. Your perfect new home is waiting! Related posts: What Happens If Someone Gets Hurt On Your Rental Property Can You Use Rental Income To Qualify For A Mortgage What Happens When Property Management Changes Who Is Responsible For Plumbing Repairs In A Rental Real Estate Investing