How to Complete Your Truehold Tenant Application

Discover how to seamlessly transition from homeowner to tenant using Truehold's sale-leaseback. Dive into our step-by-step guide and unlock the potential of your home equity without the move.

Sale-Leasebacks
September 12, 2023
How to Complete Your Truehold Tenant Application

With Truehold's sale-leaseback, you can access your home’s value without having to leave the home you love. During the sale-leaseback process, you'll engage in two transactions: selling your property and transitioning into a tenant role. Like most rental agreements, we request a straightforward tenant application from you. This ensures you're financially equipped for the lease, and it helps Truehold stay aligned with the Fair Housing Act. 

To assist you in transitioning smoothly and quickly from a homeowner to a tenant, we've crafted this comprehensive guide.

Step 1: Initiate the Tenant Application Process

First, you’ll receive an email invitation to Home Base, Truehold's user-friendly online portal. Your journey as a tenant begins by completing a short, simple form detailing your income. Please note: this assessment does not alter your home’s purchase price in any way. It's merely a measure to ensure that the leasing period remains comfortable for you.

Step 2: Include All Adult Household Members 

Begin by listing every individual over 18 years old residing in your home. Whether they contribute to the rent or not, like an older relative or a child in college, they need to be part of the application. A basic credit and background check is mandatory for compliance with housing regulations.

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Step 3: Provide Income Details & Additional Earnings

The next segment delves deep into your finances:

  • Primary Income: After selecting "Get started," you'll fill out your employment information and financial background. For those receiving a regular salary, you’ll  provide paystubs and your manager's contact details for potential employment verification.
  • Supplementary Income Streams: Include other revenue sources, such as dividends, disability benefits, or part-time ventures. Attach related documents, preferably as PDFs or clear photo files. The more comprehensive your financial documentation, the more robust your application.

Step 4: Authorize a Soft Credit Check

At the end of the form, we'll ask your permission for a soft credit check. Remember, these checks are discreet, leaving no marks on your credit profile. They are standard tools used for understanding your financial standing.

Step 5: Send it Off

Having filled every section, please review the application once for consistency. As soon as all the residents complete their respective parts, the "Submit application" button becomes active. A click here passes your application to the hands of our Truehold Real Estate Specialists for review.

Please complete this form within 3 days of being invited so you can move toward closing! It should only take a few minutes. Our Real Estate Specialists are always on standby, ready to assist, guide, and answer any questions.

With Truehold's sale-leaseback, you don't just get your equity; you get to stay in the home you love. By filling out your tenant application, you're one step closer to enjoying the best of both worlds.

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