- Credit Check Authorization
- Written consent from an applicant allowing the landlord or a third-party service to pull a credit report as part of the screening process.
- Background Check
- A review of an applicant's criminal, eviction, and public records history, typically conducted by a tenant-screening service.
- Debt-to-Income Ratio
- Monthly debt obligations divided by gross monthly income β landlords commonly require this ratio to be below 40β50% to approve an application.
- Rental History
- A record of an applicant's prior addresses, landlord contact details, length of tenancy, and reason for leaving each property.
- Co-Signer
- A third party who agrees to be legally responsible for rent and damages if the primary tenant fails to pay, often used when an applicant's income or credit falls below the landlord's threshold.
- Eviction Record
- A court filing showing a prior landlord pursued legal action to remove a tenant, visible on background checks and typically a disqualifying factor.
- Security Deposit
- A refundable sum collected before move-in, held by the landlord to cover unpaid rent or damages beyond normal wear and tear.
- Income Verification
- Documentation β pay stubs, tax returns, or bank statements β confirming that an applicant earns the income stated on the application.
- Application Fee
- A non-refundable charge collected from each applicant to cover the cost of credit and background screening; maximum amounts are capped by law in many jurisdictions.
- Fair Housing Act
- US federal law prohibiting landlords from discriminating against applicants on the basis of race, color, national origin, religion, sex, familial status, or disability.