In a scenario when Albertans are struggling to find new rentals while the vacancy rates continue to drop, saying that the competition amongst tenants is fierce is an understatement. Here’s when crafting a memorable rental application will be the deciding factor in getting the home of your dreams, and the bare minimum won’t be enough.
If you’re eyeing a rental and want to make an application that will stand out and impress the owner, here’s how to do it.
Pro Tips to Make the Best Rental Application
Complete the Application Thoroughly
You may want to submit your application as soon as possible, but being careless when completing it will translate into a discarded application. Here’s the step-by-step to make sure the landlord will consider your application:
- Be Accurate: Complete every application section with precise and truthful information to avoid discrepancies that could raise doubts about your reliability.
- Ensure the information is legible: If you’re filling out a paper application, ensure your handwriting is clear and readable. For online applications, double-check that all information is entered correctly and in an easy-to-read font.
- Rental History: Go above and beyond with your rental history details, including the addresses of previous residences, the names and contact information of previous landlords, and the duration of each stay. Make sure this information is accurate and complete. If you have to contact your prior landlords to verify their contact information is up-to-date, do it and, if possible, provide proof of on-time rent payments from your previous rentals.
- Employment and Income Details: This section of your application is very important, especially if you’re a first-time renter. It assures landlords that you can pay rent consistently and on time, helping compensate for your lack of renting history. Clearly state your current employer, job title, and duration of employment. Include accurate income details and provide supporting documents, such as pay stubs or bank statements.
- Credit History: Landlords use credit reports as another way to gauge the likelihood that you will pay your rent on time and verify you have a history of managing your finances responsibly. Including a good credit report will increase your chances of being approved and even give you leverage in negotiations, such as requesting minor changes to the lease terms or negotiating a slightly lower rent.
- References: Reliable references will enhance your credibility, provide landlords with valuable third-party insights into your character and suitability as a tenant, and help them verify your information, which can significantly improve your chances of being selected for the rental property.
We recommend including references like your current or previous landlords if you’re a seasoned renter, as well as your current employer, supervisors, colleagues, or other professional contacts. If your main references are from friends and family, be mindful that landlords may place less weight on these than more objective references. Lastly, don’t forget to inform your references that the landlord or property manager might contact them.
- Additional Information: Fill out any additional sections, such as emergency contacts, pets, or vehicle information, if applicable. Do not leave any fields blank unless they are irrelevant to your situation.
- Review and Double-Check: After completing the application, review it thoroughly. Check for any spelling errors, omitted information, or incorrect details. Make sure every section is filled out correctly.
- Supporting Documents: Ensure all necessary documents are attached or uploaded with the application and double-check that the information provided is consistent across all documents and the application form. Any discrepancies between the application and your supporting documents could raise red flags for the landlord.
If you complete your application carefully and provide comprehensive and accurate information, you demonstrate attention to detail and responsibility, which can significantly enhance your chances of being considered for the rental property.
Add a Cover Letter
While landlords don’t always require a cover letter, including one can be a valuable addition to your rental application to make it stand out from other applicants. Here’s why a well-written cover letter can be beneficial for your application in a competitive market:
- A cover letter is a great tool for introducing yourself personally and providing context about who you are beyond the standard application details. It can be your chance to highlight your reliability, stability, and commitment to being a responsible tenant, offering reassurance to the landlord.
- If you know your application may raise concerns, like gaps in rental or employment history or a low credit score, a cover letter can help you address these proactively and explain any mitigating factors.
- You can emphasize any unique qualities or circumstances that make you an ideal tenant, such as long-term employment, involvement in the community where the property is located, or hobbies that align with the property, like gardening in a home with a yard.
- Demonstrating genuine interest in the property and the community through your cover letter can set you apart from other applicants who may appear less invested.
A winner rental application’s cover letter should include:
- Introduction: Briefly introduce yourself, including your name, current occupation, and any relevant personal details
- Reason for Moving: Provide more context into why you are looking to move and are interested in the property, such as proximity to work, schools, or other amenities. Describe your current living situation, including why you are leaving your current place. For example, you need more space or need to relocate for work.
- Rental History: Provide a more detailed summary of your rental history, emphasizing positive aspects such as on-time payments, good relationships with previous landlords, and care for the property.
- Employment and Financial Stability: Highlight your employment status and financial stability. Mention your job title, employer, and income level to reassure the landlord of your ability to pay rent.
- Personal Qualities: Share some qualities that make you a good tenant, such as being responsible, quiet, clean, and respectful of neighbours.
- Additional Information: If it’s relevant to your current situation, mention any pets you have, your lifestyle, or hobbies that make you a good fit for the property.
- Closing: Thank the landlord for considering your application and expressing your enthusiasm for renting their property. Provide your contact information for any follow-up questions.
Just like with your main application, compare the information you included in your cover letter and ensure all details are consistent.
Renting Your Dream Home In 2024 Is Possible
Even in Alberta’s highly competitive rental market, tenants still have the chance to rent their dream home by crafting a stellar application. By applying the recommendations we shared in this blog, you’ll surely impress your future landlord and increase your chances of being their selected tenant.
