Qualification Requirements for a Rental Property
- You must net (in income) at least three times the cost of the monthly rent after taxes for the unit you have chosen.
- Credit reports will be completed to verify credit worthiness. Prior evictions, money owed for housing, debt to income and other factors will be considered. For most properties a min credit score of 600 is required.
- Criminal background checks will be completed. Type of crime, severity of crime, length of time passed, age of applicant at time of crime and any rehabilitation efforts are factors that will be considered. Convictions for the manufacture or distribution of controlled substances will be an automatic denial. No drug charges, and no sex offender charges.
- You must have no evictions within the past 3 years. If you owe money for housing, it will be an automatic denial.
- Pets will be approved on a case by case basis. Dangerous Breeds will not be permitted. Please be sure to ask if the property you are interested in accepts pets. If your pet is approved for the property, there will be one time non refundable pet fee and pet rent each month.
- Personal Liability Renters Insurance is required with minimum coverage of $100,000.
Frequently asked questions:
Question: Who must apply?
Answer: Every adult (age 18 and older) that will be living in the property must apply.
Question: How much is the Application fee?
Answer: The application fee is $50 per applicant. The application is non-refundable.
Question: How long does the application process take?
Answer: The application process takes 3 to 4 business days. Failure to provide documentation such as ID's, proof of income, rental references, etc may cause delay or denial due to lack of information/documentation.
Question: How do I reserve a property?
Answer: If your application is approved, you will be notified. We will request you to pay a security deposit within 24 hrs of being approved. Payment of the security deposit will hold the property for you until you move in or up to two weeks (whichever is shorter). If you fail to move in for any reason, the security deposit will forfeited (non-refundable).
Question: How much is required to move in?
Answer: You will need to pay the security deposit before move in. You will pay one full month of rent before or upon move-in. Any prorated rent ( for move -in dates other than the 1st ) will be credited to your next month's rent payment.