🎯 In 30 seconds: Plan on a move-in bill of well over twice the monthly rent. Landlords check credit, income, rental history and court records, and if they turn you down because of a screening report, you have a right to see it for free. Read the lease for fees and renewal terms before you sign, photograph the place on day one, and get renters insurance: the landlord’s policy does not cover your things.
What landlords check
Most landlords buy a tenant screening report. According to the FTC, it can include your identity details, address history, income and job, credit history, eviction and other housing court records, and criminal records. Some screening companies hand the landlord a score or a yes/no recommendation that you never see.
- Before you pay an application fee, ask what the landlord checks, what income or credit standard it uses, and which screening company it uses.
- Pull your own credit reports a month before you apply so there are no surprises (see Credit scores and credit reports under Secure Your Future).
- Gather proof: recent pay stubs or an offer letter, a photo ID, and contacts for past landlords.
If you are turned down
If a landlord rejects you, charges you more rent, requires a co-signer or asks for a bigger deposit because of a screening report, it must give you an adverse action notice. The notice can be written, electronic or spoken, and it must name the screening company and tell you about your rights. You can then:
- Ask the screening company for a free copy of the report within 60 days.
- Dispute anything wrong. The company generally has 30 days to investigate and must fix or delete information it cannot verify.
- Complain to the CFPB or your state consumer office if the error is not fixed.
Separately, the federal Fair Housing Act bars discrimination in renting based on race, color, national origin, religion, sex, familial status (having children under 18) or disability. Many states and cities add more protected groups. HUD takes complaints.
Worked example: the cash you need to move in
Maya, 23, finds a $1,300-a-month apartment. Her landlord wants first month’s rent and a deposit equal to one month. Here is her real move-in bill:
| Application fee | $50 |
| Security deposit | $1,300 |
| First month’s rent | $1,300 |
| Renters insurance, first month | $20 |
| Rental truck, gas and helpers | $300 |
| Utility and internet setup fees or deposits | $100 |
| Basics: cleaning supplies, shower curtain, groceries | $200 |
| Total | $3,270 |
That is about 2.5 times the rent, before any furniture. If the landlord also wants last month’s rent, it is closer to 3.5 times. Maya’s emergency fund should not be the source of this money. She sets a moving goal in Goals four months ahead, and checks in Budget that $1,300 leaves room for everything else.
Lease terms that cost money
| Term | What to look for |
|---|---|
| Rent and due date | Exact amount, due date, how to pay, and any fee for paying by card or online. |
| Late fees | The grace period and the fee. Is it a flat amount or charged daily? |
| Length and renewal | Does the lease renew on its own? How many days’ notice do you need to give to leave? |
| Rent increases | When and how much notice you get. Local rules differ. |
| Breaking the lease | The early-termination fee, or whether you owe rent until a new tenant is found. |
| Utilities and extras | Which bills are yours. Watch for parking, trash, amenity, pet or “admin” fees. |
| Repairs | How to request them, who pays for what, and how fast the landlord responds. |
| Deposit terms | What can be deducted and how it is returned. |
| Subletting and guests | Whether a roommate or sublet is allowed, if plans change. |
Get every spoken promise in writing (“we’ll repaint before you move in”). Keep a signed copy of the lease.
Protecting your security deposit
- Move-in day: walk through with a checklist. Take dated photos and video of every wall, floor, appliance and fixture, including existing scratches. Send the list to the landlord and keep a copy.
- While you live there: report repairs in writing. Damage you reported is harder to charge you for later.
- Move-out: clean, repeat the photos, return all keys, and give your new address in writing.
- After: your state’s law sets how long the landlord has to return the deposit and what it can keep. Normal wear and tear is generally not yours to pay for. Your state attorney general or housing agency publishes the rules.
Renters insurance
The landlord’s policy covers the building, not your belongings. A renters policy usually has two parts: personal property (your things if they are stolen or damaged by a covered event) and liability (if you accidentally injure someone or damage someone else’s property). Many policies also pay extra living costs if a covered loss makes your home unlivable. The NAIC puts a typical policy at roughly $15 to $30 a month.
- Replacement cost pays for new items; actual cash value pays the depreciated value. Replacement cost costs a bit more but pays far more after a fire.
- Flood damage and expensive items like jewelry often need separate coverage.
- Make a quick video inventory of your belongings and store it online.
The Insurance basics page in this section explains deductibles and limits.
- A landlord rejects you because of a screening report. What must you receive? Answer: An adverse action notice naming the screening company.
- How long do you have to ask for a free copy of that report? Answer: 60 days.
- About how much cash did Maya need to move into a $1,300 apartment? Answer: About $3,270, or 2.5 times the rent.
- Does the landlord’s insurance cover your belongings? Answer: No. That is what renters insurance is for.