Procedure & Requirements for rental approval
1. Submit an application. One must be submitted by everyone who is over the age of 18 who plans to reside at the residence.
2. $25.00 processing fee is required per application. A credit report is run through Equifax.
It is important to advise us of any credit issues or other problems that may appear in the background check. If there are problems that, in our opinion, will make you a weak candidate for the rental, we will discourage you from proceeding and save you the application fee.
3. You must have valid identification showing photo, signature, & current address. This identification must be produced for all parties who will be occupying the property and listed on the rental agreement.
4. We must be able to verify monthly combined gross (before taxes) income of at least three (3) times the monthly rental amount of the property for which you are applying.
5. We must be able to verify continuous employment for a minimum of six (6) months. We require a copy of the last two (2) paycheck statements. Self-employed individuals can provide bank statements or tax statements to show proof of income.
6. We will contact your current and/or previous landlord for a reference. A negative reference from your landlord will cause an automatic rejection of your application. Generally, any evictions or judgments against you on your background check will cause an automatic denial of your application.
7. 100% of the security deposit is due upon the signing of your rental agreement. Often, we are asked if this payment can be broken up and paid on a monthly basis. That answer is “no”. A pro-rated rent amount is also due upon signing. We divide the monthly rental rate by thirty (30) days and multiply the number of days left in the month. This will give you a general idea of the cost to move into a property.
8. Generally, it takes two (2) to four (4) days for the approval process. At such time you are approved, we require a $500 non-refundable hold deposit to hold the property for you. We will stop advertising it and stop taking applications. It is important to know that, for any reason, if you decide to back out after the deposit is made, the $500.00 hold deposit is non-refundable. Upon lease signing, this $500.00 will be applied towards your move-in cost.