Oh It Took So Long Again
You've searched for a rental and finally constitute the one you want. You lot've read all about how apace the rental market is moving, and then you rush to fill up out the rental application, including what you lot feel is manner likewise much personal information, and submit it along with the rental criteria and whatever other forms required by the holding manager, plus an awarding fee. Then you lot await. And await. And wait some more. The clock seems to motion slower than molasses and you lot're beginning to worry that something is wrong and you won't exist canonical. Why is your rental application taking so long? Why don't y'all have an answer yet?
The Rental Application Process
Nigh people don't quite know what goes on "behind the scenes" after you submit a rental awarding, so nosotros idea we'd pull the curtain back and help y'all understand what it is that takes so long. Typically, most applications take 2-5 days (it used to exist nigh 2-3 days, merely at present we're seeing it closer to 2-5 days) for a decision, merely there are instances where it may accept more than. Nosotros should annotation, the management company has up to 7 days to make a determination – if they don't brand one in the time allotted, the application is considered rejected past default. That doesn't help to put anyone's mind at ease when they're worrying nigh how much time the process is taking, merely it is one of the lesser known facts about Texas rentals.
Then why exactly does a rental application typically take and then long? The answer lies in the 3 master components of the process. Start a credit and groundwork check will be conducted. There are companies that do these checks – they connect to national databases for credit and criminal groundwork information, and depending on the company, they may also check eviction databases they maintain, search for social security number discrepancies, and show any previous attempts at verification from other property managers. These reports actually take upwards only a small amount of fourth dimension and afterward inputting the information into their system, the average time for the reports to come dorsum is probably less than an hour. The longest I've ever waited was about 5 hours.
The next two items are the real time killers. There are ii items that demand to be verified – your rental history and your employment and income. In club to practice that, a belongings management professional person volition send forms to your current landlord and employer. Along with those forms, they will transport Folio iv of the TAR Residential Lease Application, which is an Authorisation to Release Information Related to a Residential Lease Bidder (that's a mouthful!). Much like it says in the form name, information technology gives your employer or landlord permission to release information to the company processing your rental awarding.
Unfortunately, we ofttimes see these forms sent, merely not returned in a timely manner. Nosotros will often try to contact whoever is listed on your application (your boss, supervisor, or human resource manager or the apartment manager or landlord) a few times to see if we can speed upwardly the procedure, but many times we are met with, "I didn't receive that" or, "Can you lot send it again?" This is where the bottleneck occurs – without the forms, we can't verify important information, and then we merely have to keep trying.
Apartments are actually the worst at returning these forms and it can exist quite frustrating. Not simply exercise they become a bit slower than everyone would similar, merely if you haven't given your notice yet, many apartments will not release any information on your rental history. This can pb to your awarding being turned down for unverifiable information (check the property director'south rental criteria for exact details of their requirements).
The process takes a while and information technology can be frustrating. As a property manager, nosotros want to speed up the process, equally getting a tenant in the dwelling house is our ultimate goal and every 24-hour interval the rental is not filled is costing the owner money. We recognize the issues and piece of work to find ways to help the process along, only these forms are really in someone else'due south easily and more frequently than not, they are the cause of your rental application taking then long. The best mode you lot can help? Provide practiced contact information and include a name, telephone number, fax number, and electronic mail address for the appropriate contact. If you lot only requite the blank minimum contact data, that means someone has to track it down, further slowing the process down. E'er fill up out your applications completely and brand certain you write legibly – it really does thing!
image courtesy of LifeSupercharger
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Source: https://www.kimberlyhowell.com/renters-landlords/why-is-my-rental-application-taking-so-long/
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