A Comprehensive Rental Policy File
To qualify for a rental property, you must fully meet the following criteria;
Your monthly income is required to be at least three times the total monthly rent. If not, you must have a cosigner and/or savings account statement with a balance equal to 24 months rental payments. If you are currently unemployed or retired, you are required to provide solid proof of your source of income. If you happen to be a full-time student, we will require you to have your lease guaranteed- in other words, you will need to have a co-signer.
To qualify for a rental property, you are required to have both satisfactory and unbiased rental references from at least 2 years immediately preceding the application or date. You are also required to provide us with the contact information necessary to get in touch with your previous landlord. Should we obtain information that you had either been evicted, sued or are in debt with your previous landlord, then we will be obligated to deny your application. Also, your application will be denied if we find any reports showing complaints of noncompliance.
If you are a homeowner, you are required to provide mortgage payment history, verification of proof of ownership, and verification of proper maintenance.
For your rental application to go through, your credit history must be satisfactory or fully compliant with our credit score policy outlined below. If your credit record shows failed payments of previous rents or any lease obligations, then we will have no choice but to reject your application.
CREDIT SCORE POLICY.
To determine your creditworthiness and approve your application, we are obligated to obtain a credit report from a credit reporting agency. Your credit report must show that all accounts are current and that you haven’t filed for bankruptcy within the past 18 months.
As a part of our selection process, we will perform a thorough background check on applicants. All applicants are required to reveal information on prior arrests, imminent criminal charges, and convictions. We will deny your rental application if you fail to disclose this information. If you’ve had previous arrests or pending criminal charges, we will not deny your application, although this can be a crucial factor when used with other criteria. Some of the factors that our management team will consider include the nature of the crime, the amount of time that has passed since the crime, prison, parole or probation. If you’ve been listed as a sex offender, your application will be automatically denied.
If you fail to meet one or more of the above criteria, then you may become eligible to lease the property but only if you can get a guarantor to guarantee your lease. The guarantor must pass through a similar application and screening process, except that we will deduct their own housing costs prior to applying their income to our income standard.
We also consider roommates for tenancy. However, each of your roommates must meet the above criteria. If a roommate does not meet the qualification criteria, extra monthly rent may be required.
THE APPLICATION PROCESS
We extensively evaluate every application in the following manner;
- Each adult (18 years or older) or married couple must provide complete application for rental and answer every single question on the form, provide the required supporting documents, and each adult is required to pay a non-refundable application fee
- We will thoroughly review your credit report, rental references, and employment references so as to confirm that the above criteria is met
If you meet the above criteria, then we will approve your application. The entire process can take 1-5 days, although it depends on the availability of references. In case we get more than one qualified application, we will only lease the available property to the first applicant that meets our set criteria.
PROVIDING FALSE INFORMATION IS GROUND FOR DENIAL.
Your application will be automatically denied if you provide any false information on your application. In the event any misrepresentations are found after the lease/rent agreement is signed, then the agreement will be immediately terminated.
WE ARE AN EQUAL OPPORTUNITY HOUSING PROVIDER.
We are an equal opportunity housing provider as we fully comply with the state’s Fair Housing Act, as well as all state and local fair housing laws. This means that no way and under no circumstances do we discriminate against any applicant based on their sex, color, race, religion, the nation of origin, handicap, or family status.
AVAILABILITY. Our properties only become available when ready to rent. Any vacant property will not be deemed available until it has been properly cleaned and well prepared for the new tenant. Availability can change at any given time.
OCCUPANCY GUIDELINES. In order to prevent overcrowding and excessive stress on the building’s plumbing and other systems, we restrict the number of tenants who may reside in our rental properties. We are strictly compliant with the Fair Housing Guidelines which state “2 adults per room plus one.
PET POLICIES. If keeping pets is negotiable at the subject property, you will be required to sign a separate Pet Lease Addendum that contains our pet-related restrictions.
If your application goes through, you will be required to sign a rent/lease agreement in which you will agree to abide by the set rules of the rental property, complex, and/or the neighborhood. If you would like to review the agreement later, we will provide you with a complete copy of our agreement. We take each single part of your agreement very seriously.
In addition to the mentioned requirements, your rent/lease agreement will;
- Require you to prevent all members of the household and your visitors from any behavior that violates our set rent/lease rules
- Require you to report any maintenance problem that occurs while residing in the property to our management, failure to which you might be held accountable for any damages
- Require you to forbid all members and visitors in your household from engaging in any form of illegal drug use, manufacture, sale, distribution or any other criminal activity within the property
- Require you to limit your guests from staying in your rental unit for an extended period of time without permission from the management
- Result in the termination of your rental/lease agreement in the event you seriously and repeatedly violate any of our lease requirements