On-time rent payment certificates can easily be used as proof when looking for a new rental property or with a complete tenant ledger, even be used in your home loan application. The certificate is a crucial instrument stating a tenants ability to pay the rent on time. Tenants should be able to ask for these from their real estate agents or landlords.
Why should you use them for when you apply for a rental property?
Applying for a rental is hard enough with increased competition and with diminishing property standards. This often results in tenants being left in the hands of agents that don't necessarily take the tenants and owners best interest in their hands. It is therefore often your responsibility to ensure your application holds up beyond the typical 'how much do you make' salary measuring stick. This is where an on time rental payment certificate can play a big role upping your chances in scoring that sweet pad.
If you are with an agent, your agent should supply you one of these at the end of your tenancy, however if you are renting directly from the landlord, your best bet is to download your own certificate below and ask them to them to fill it out.
Using them for a home loan
When you apply for a home loan, you are most likely asked by the bank to provide proof that you are able to make your loan repayments on time. For this, a tenant ledger along with your on-time rent payment certificate proves a compiled overview of your rental history. The longer you can prove the better, noting compiling this through bank statements can become hard and make it difficult for the bank to see your payment dates against due dates. By bringing in a tenant ledger, you are not only making the work smoother for the bank to assess your case, but it also signals that you are organised and on top of things, putting your best foot forward.
To read more about tenant ledgers and download your own, check out our ledger article.
Download your own certificate
To get started on your certificate, simply download your own template by clicking the button below. Tenants that are with Cubbi can find their ledgers on their dashboard, to access follow the ledger help doc.
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