Luxury Living Chicago Realty works with over 1000 luxury Chicago renters every year and the number one question we are asked by our clients is about how to apply for apartments in downtown Chicago.
How To Apply for a Downtown Chicago Apartment
Here are the four easy steps to take to apply for apartments in Downtown Chicago:
Once you select your new Chicago apartment, you’ll fill out an application with your rental history and have a credit and background check run. The cost to apply for an apartment in Chicago is typically $55-$75 depending on the property.
When you have passed the credit and background check, you will need to show proof of income. The last two pay stubs, or an offer letter for a new job are perfect. You can also supply a bank account statement to show proof of funds.
Most landlords or property management companies require tenants to earn at least three times the monthly rent in gross income in order to qualify. For example, if you want to rent a $2000 one-bedroom, you must earn at least $6000 per month before taxes.
You’ll need to pay first month’s rent upon lease signing. In Chicago you don’t have to pay last month’s rent. Also, in most cases, properties downtown are forgoing a security deposit in lieu of a one time $400-$600 move in fee. The fee is non-refundable, but saves you a lot of money upfront.
If you’re looking to secure an apartment quickly, you should bring a credit card, checkbook, proof of income (pay stubs or offer letter), and information to help you fill out your rental history with you when you are viewing apartments. Having these materials with you will help you start the application process right away when you are touring apartments in downtown Chicago.
Ready to start your Chicago apartment hunting process? Our team of experienced leasing professionals are here to help walk you through the process every step of the way. Follow the link below to get started!
Editor’s Note: This post was originally published in August of 2014 and has been updated for freshness, accuracy, and comprehensiveness.