How Long does it take for Apartment rent Approval?

The time it takes to find an apartment for rent depends on your location, recent rental market conditions, your specific needs, and the efficiency of the rental process by the property manager.

Still, there is a standard period and it takes 1-3 working days to get approved if you follow the norms. Once you find an apartment, you will need to submit a rental application.

The application includes your information, type of employment, your rental history, credit check, etc. Therefore, it may take some time to review applications, especially if they receive multiple applicants for the same unit.

So, how long does it takes to hear the answer, this guide will cover all the details of apartment approval timelines you need to understand.

How many Days does it take for Approval?

The rent application approved within 1-3 business days, however, this is just an average. The actual approval time may vary depending on several factors which are mentioned below.

1. Property Management: Large companies process faster than individual landlords.
2. Number of Applications: More demand means more competition and more waiting time.
3. Complexity of Application: Any incomplete applications require more verification, slowing down the process.
4. Background Checks: Credit and reference checks take time to get approved.
5. Income Verification: Verifying employment and income can add to the processing time.

Reason for Delay in Approval

Although 1-3 days is normal, delays may occur in the following scenarios:

• Income-Restricted: Expect a longer wait, up to weeks due to additional verifications.
• Peak Rental Seasons: If you are trying during the summer season, it may take time to get approval, because this time is in high demand.
• Multiple Applications: If multiple applications are submitted, processing might take longer.

How to Speed Up Approval Process?

You must submit a complete application with all the required documents. If they ask for additional information, respond to requests promptly.

Offer good references with verifiable contact information. Ensure your credit score is in good standing.

Maintain stable employment and mention sufficient savings in your income. If possible, apply early in the week and during less competitive seasons.

Note: Be friendly in your communications. After a wait, politely ask for an estimated time frame or if any additional information is required.

How to Get Rent Approval within 3 Days?

If you want to get approval for rent in a short time as little as three days, there are a few steps you need to follow:

• Prepare Documents in Advance: Gather all the necessary documents before you start your apartment search. Such as proof of your income, pay stubs, rental history, and a copy of your ID or driver’s license.
• Be Proactive: Contact the property manager immediately to express your interest and schedule a viewing as soon as possible.
• Submit a Complete Application: Fill out the rental application accurately by providing all requested information and documents.
• Offer a Deposit: If you want to secure it quickly, offer to pay a holding deposit with your rental application. This shows your commitment to the rental, which can speed up the approval process.
• Provide References and Guarantors: If you have a limited credit history, then you need to provide references from previous landlords or guarantors. This may bring closer the chances of approval of your application.

How much is Rent per month?

Average apartment rent by state in the United States:

Conclusion

Ask the landlord about their approval timeframe when submitting your application. This can give you a expectation and help you manage your waiting time more effectively. Look for a privately owned apartment where there is less of a legal process than a management group apartment.