How to Ace the Application Process as a Student
Students come to Boston in order to attend some of the most well known and prestigious universities in the world. Although there is an estimated 152,000 students that reside in the city of Boston, many students struggle to secure an off-campus apartment because they do not have enough financial proof to show that they are capable of paying the rent. In addition to this, landlords can feel skeptical as to how well students can take care of their property.
If a landlord were to accept a student applicant, they must be confident that the student will be financially capable of paying the rent, and be responsible enough to take good care of the property. To get started, here are some recommendations for making your leasing application stand out.
Have a Co-Signer Form:
With the co-signer form, you (the tenant) and the landlord agree that there is a third party person who agrees to take on the financial responsibility of the lease. Because students rarely have an income that can pay rent, these forms give the landlord assurance that their monthly rent will be secured. Most students have their parent or guardian sign the co-signer form because it tells the landlord who will be paying the rent, and it tells them where the money is coming from. This form can be used as proof to show the landlord that your family is able to afford an off campus option, and it ultimately gives landlords a sense of financial security. Be sure to have your co-signer forms notarized before your lease begins, otherwise the document may not be counted as an official form.
Attach Bank Statements to Your Application:
It is important to put down as much financial information into an application because it gives landlords a better understanding of how a student can pay rent. Showing bank statements or pay stubs to the landlord help them have a better understanding of your financial responsibility to paying the rent. If your parents or a guardian is paying for your off-campus housing, it is always a smart choice to include their bank statements. If you feel uncomfortable about revealing too much sensitive information, ask your realtor about blocking any sensitive information that may be on the statements.
Set Up An Interview With The Landlord:
Most landlords never meet their tenants because real estate agents perform all or most of the transactions between both parties. This can give the landlord a bit of discomfort if they agree to rent out their property to students, because landlords don’t know if their beloved property would turn into chaotic party home filled with rampant students. And ofcourse, many students who aren’t partygoers, often get classified into the same group as students who don’t take care of the property. It is always a wise option to offer an interview, or some kind of meeting with the landlord so that they know who they are dealing with.
Fill Out as Much Information as Possible!
Students often have a hard time filling out their application paperwork because many of the fields do not apply to them. When asked what your occupation is, or who your last landlord was, there is never really a “correct” answer if the field does not apply to you. That said, it is always good idea to have some sort of explanation, rather than leaving a field blank. Instead of filling nothing out, try writing a brief explanation or a different response that could help the landlord gain a better understanding of you. For the previous two examples, you could explain that your occupation is student, and that the last place you lived was owned by a university or your parents. This will help remove any confusions and ambiguities the landlord may have.
It’s important to remember that students are not classified as a protective class. This means that landlords are allowed to discriminate against students when it comes to housing. If you are serious about securing an off-campus apartment or home, give the landlord as much information as possible so that they can make an informed and educated decision. At the end of the day, landlords feel comfortable renting to people they trust. As long as if you provide the landlord with enough information, gaining that trust might be easier than you think!
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