Renting an apartment can be a wise financial choice for many people. If you choose to rent instead of buy a home, it can provide flexibility, savings and relief from some of the duties associated with home ownership. And, in an economy experiencing a downturn, it can be a smart choice. Before you start visiting apartments, prepare the following documentation ahead of time:
- Recent pay stubs or a note of employment verifying your salary, officially signed and printed on company letterhead
- Recent bank statements and/or a recent tax return
- Your Social Security number for a credit check
- Government-issued photo ID (a driver's license or a passport)
- Your checkbook to pay application fees and security deposit
- Contact information for references
If you're certain you want an apartment, consider applying on the spot. If you wait too long in a competitive market, you may miss out.