Are You a Qualified Candidate for a Luxury Apartment?

There’s nothing like living in style. That’s why most people love the chance to live in a luxury apartment. These types of apartments often have good security and amenities, ranging from swimming pools to tennis courts. Are you interested in luxury apartment rentals? Here are some ways to qualify.

Credit Score and Report

Like with any other apartment rental or mortgage, your credit score matters for a luxury apartment application. According to The Zebra, 650 is the average credit score of a typical tenant. Luxury apartment managers look for a solid credit history, as they want to feel confident you pay your bills on time. Your credit report should be free of red flags such as evictions and foreclosures.

Stable and Verifiable Income

Luxury apartment managers want people with a stable income that’s easy to verify. Therefore, they may ask for bank documents, W-2s, or payment stubs. Ideally, you should make at least three times the rent for the apartment you’re seeking out. Regardless of how much you may love a particular apartment, try to find one that fits within your budget and allows you to have extra funds left over.

Solid Rental History

Have you been a good renter in the past? If you’re able to get references from past landlords, that can also help your case. For some luxury apartment rentals, it may be a requirement. If you’re a homeowner who’s ready to downsize to an apartment, as long as you paid your mortgage and don’t have any foreclosures or liens, that will help your case.

Legal Documents

When you apply to a luxury apartment rental, you’ll need several legal documents. Expect to show documents that verify your identity, like a birth certificate or passport. Have documents that can prove your income ranging from W2 to W9s, tax returns, or banking documents. You should also be prepared to pay any fees required, such as a pet deposit and first and last month’s rent.

Luxury apartment rentals can be exciting places to live. After all, you’ll live in style and comfort in a secure environment. If you’re ready to leap into high-end style housing, it’s time to take a tour of our buildings at Fern Crossing. We look forward to considering your application, so contact us and apply today.