When applying for a rental property, many people feel anxious about the tenancy screening process.
There are many questions regarding screening, such as ``How much annual income do I need?'' ``Is it okay if I just changed jobs?'' ``Can I pass even if I have foreign nationality?'' In conclusion, screening is not determined by just one condition.
The first thing to look at is the ability to pay.
The basic question is whether you can continue to pay the rent. Generally, you can check whether the rent is too high compared to your monthly income.
As a rule of thumb, it's safe if your rent falls within one-third of your take-home monthly income. However, the decision will vary depending on your savings, place of employment, and the standards of the guarantee company.
Place of work and employment status will also be confirmed.
Are you a full-time employee, a contract employee, self-employed, or have just changed jobs? This information will also be verified during the review.
If you are self-employed or freelance, you may be asked to provide proof of income or a tax return. If you have just changed jobs, you may be able to supplement this information with a letter of offer or employment contract.
Consistency of application details is important
What is surprisingly important is that there are no unnatural points in the application form.
Address, workplace, annual income, emergency contact information, number of residents. If there are any omissions or inconsistencies in this information, the review process will take longer and the number of checks will increase.
Being able to communicate also gives you credibility.
You may receive a confirmation phone call from the guarantee company or management company. If you continue to be unable to respond to these calls, the review may be suspended.
After applying, it is best to be careful about calls from unknown numbers.
summary
Rental screening is not determined solely by annual income. You can see a comprehensive view of your ability to pay, application details, correspondence, and document preparation.
If you have any concerns, please share your situation with the person in charge first. Together, we can think about properties that are easy to access and how to submit supplementary documents.