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A Bullseye point of view in rental app process

April 28, 2023

What to Expect When Applying for a Rental Home?

You’ve finally found the perfect rental home you’ve been searching for—exciting! Now comes the next step: filling out a rental application. This application helps landlords and property managers evaluate your creditworthiness, income, and overall ability to pay rent on time.

How We Review Rental Applications

At Bullseye Property Management & Realty, we ask two key questions when reviewing an application:

  1. Does the applicant pay their bills on time?
  2. Does the applicant have sufficient income to pay rent consistently?

To answer these, we may check your credit report, verify paystubs, and review bank statements. By applying, you grant us permission to run a credit and background check. These tools help us understand your payment history, outstanding debts, credit length, and overall financial responsibility.

Where to Apply

The online rental application can be found directly on our website under the Rental Application tab. From there, you’ll select the property you’re interested in and complete the form. Tip: Schedule a showing with our leasing coordinator before applying to make sure the home fits your needs and expectations.

Our Three-Step Application Process

Step 1: Apply and Pay the Application Fee ($50 per adult)

Each applicant over the age of 18 must submit an individual application. Application fees must be paid within one business day of submission—online (checking/savings/credit card) or in person with certified funds (cashier’s check or money order).

Note: Application fees are non-refundable, whether paid online or in person.

Step 2: Provide All Required Documentation

We cannot process applications until all documentation is received. Please prepare the following:

  • Valid Driver’s License or State ID
  • Two most recent paystubs (PDF). Self-employed applicants: last two years’ tax returns with at least one year of income history.
  • If unemployed: verifiable income or liquid assets equal to 2.5x annual rent (examples: bank accounts, support payments, trust accounts, Social Security, unemployment, grants/loans).
  • Two most recent bank statements (PDF)
  • Rental ledger from current and previous landlord (last five years)

Step 3: Processing the Application

Processing typically takes 3–5 business days. Delays can happen when documentation is incomplete or if we’re waiting for verification responses.

Common Application Hold-Ups

To keep your application moving quickly, avoid these common issues:

  • Submitting an application without touring the property
  • Missing required documents
  • Not submitting PDFs of paystubs or bank statements
  • Delays from co-applicants who haven’t submitted their forms
  • Incomplete rental verification
  • Waiting on credit and background check results

Pro Tip: Having all documents ready before applying speeds up approval.

Conclusion: Applying for a rental home doesn’t have to be overwhelming. By following our three-step process, preparing your documentation, and avoiding common hold-ups, you’ll increase your chances of quick approval. Remember, the application fee is non-refundable, so apply when you’re ready to commit. With preparation, you’ll be one step closer to your dream rental home.

Category: HOA Management | BPM-MN, Property Management InsightsTag: community associations, fair housing, HOA Management, Minnesota rentals
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35 Lake Street S., Suite #500

Big Lake, MN 55309

Phone: (763) 295-6566

info@bullseye411.com

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