Renting a Home:
The Rental Process
The Rental Application
The rental application process will be similar whether you are renting an apartment or a single family unit. Most landlords ask you to complete an application form and pay an application or processing fee. This fee is paid to the landlord to cover the cost of a credit check or other actual expenses related to processing your application. Be sure the document the landlord gives you is an application form, not a lease. You should not agree to sign a lease until you are sure the apartment and the terms of the lease are right for you.
A landlord is entitled to keep the application fee whether or not you are approved for a lease. New Mexico law does not set a limit on how much of an application fee can be charged or set any conditions for refunding the fee. If the fee is significantly more than $25 or $35 ask for an explanation of exactly what expenses are involved and the cost of each item.
A residential rental application gives a landlord information to use when making a decision about renting to you. There is no standard application form so the amount and type of information will vary from landlord to landlord. Generally, the form asks for basic information including your previous rental and employment history, your credit standing, who will reside in the rental unit and when you want to move in. Signing the form gives the landlord your consent to a credit and background check. Your signature usually verifies that the provided information is true and correct. See the Rental Application Sample.
Some landlords ask that you make a deposit on the unit with your rental application. If you make a deposit with the application, make sure the form clearly states that it will be fully refunded if you are not approved or the unit is not ready on the desired date. The application form should include a time limit such as 30 days or two weeks, for making a decision about renting to you. Also, the form should state a clear time limit such as three business days, by which the refund will be made.
Next: Your Right to Fair Housing
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