In hot rental markets like NY and D.C. this practice would not surprise me. The purpose is to weed the unqualified prospects out - otherwise the agent would be fielding questions and applications from people who realisitically do not have any chance at ultimately securing the property, due to their credit or financial situation. Additionally, they are trying to eliminate the "just looking" crowd...
Hope this helps!
They most certainly do, as you work with a professional there are requirements implemented by Landlords and Management companies. A professional will ask to meet with you and gather your information on apartment application. If you went on a Job Interview would the employer give you a high paying job without looking at your employment application history and credentials?
I guess you answered the question, work with a professional and make sure you stay away from Scammers and Fraud advertising! It's been known that if something sounds to good to be true theres a catch.
Always meet the agent and anyone your working with at place of business or in person.
Would you let a total stranger into your home?
Best of Luck,
Exit Realty Search
3928 E. Tremont Avenue
Bronx, NY 10465
In my experience in the real estate trade, Iâ€™ve discovered that the consumer is best served by adopting some simple strategies, whether youâ€™re buying a home, selling one, or renting an apartment.
First: remember that real estate agents work on commission. The better quality agents---and those with the most experience---will be testing you from the initial contact to determine if youâ€™re serious and will commit to using their services. Why? Because real estate is like any other business. You donâ€™t get to stand in line at the fast food restaurant just to stare at the menu without actually buying some food at one point. Itâ€™s the same idea: the experienced real estate professional has to earn a living by renting apartments to serious and qualified prospective renters.
Therefore, the smart consumer should be well-prepared and committed to respecting the real estate professionalâ€™s time. That means: know your requirements for the apartment you wish to rent in terms of location, amenities (one bedroom versus three bedrooms; elevator building or private house), and location (proximity to public transportation or need for parking), and price. If you present yourself as well-prepared youâ€™ll have a better chance of working with an experienced agent who will work hard to find you the right apartment.
Second, start with the internet---especially TRULIA.com---but stay â€œlocal.â€ Donâ€™t think at real estate agent in Brooklyn can find you an apartment in Queens, or vice versa. Here on TRULIA.com you can easily find a local professional by clicking on â€œFIND a PROâ€ at the top of this page. There you can hone in on a seasoned professional in exactly the area where you wish to rent your apartment. TRULIA provides exceptional tools to help you as a consumer understand the quality of the professional youâ€™re working with. Read the agentâ€™s profile; check out the recommendations from previous clients; get to know the level of experience of the agent and the areas that agent covers.
Third, real estate agents are prevented by Federal regulations from answering certain types of questions. They cannot discuss schools or school districts, crime statistics, and a variety of other issues prohibited by Fair Housing regulations. If your agent is vague when you ask certain types of questions, now you know why.
Finally, demonstrate your level of seriousness to your real estate agent. Show up on time for your appointments to view apartments. If youâ€™re required to submit documents for the Landlord to review with your rental application, get them into your agentâ€™s hands pronto. Not only does this help you potentially get one step ahead of a competing renter, but youâ€™ll be viewed by the Landlord as a responsible renter. Landlords prefer responsible renters, donâ€™t they?
I hope that helps you improve the results of your search for an apartment, and helps you with a better quality experience.
PowerHouse Solutions, Inc.
1010 Northern Blvd. Suite 234
Great Neck NY 11021
Licensed Mortgage Banker â€“ NYS Dept. of Financial Services
*If you thought my answer was helpful, please give me a â€œThumbs Upâ€ or â€œBest Answer.â€ Thanks!
A landlord wants to be sure that a Renter has worthy credit, and has the means to pay the rent.
So yes absolutely.
Sometimes, one has had a short sale or a foreclosure on their reco, and then a landlord has to give a potential renter the benefit of the doubt by checking his earnings, credit history whether it's common for this renter to bounce checks, now a days it's not uncommon even to do a credit check for utilities.