Rental Application Guidelines
Rental Application Links:
To submit a rental application to anyone of the properties we manage please click on the Rental Application link below. Applications are processed in the order in which they are received.
QUALIFYING GUIDELINES:
1. Each person over 18 intending to occupy the property must provide a completed application and pay the application fee. Each person will have a credit check, a nationwide eviction search, and a nationwide criminal database performed. Unfortunately, there is no exception to this.
2. Each person intending to use their income to qualify must provide the three most recent months of income verification. Paystubs, personal bank statements, and if self-employed, tax returns may be used. Please check with the Listing Agent should you have questions.
3. Each person applying must provide a legible, clear copy of picture I.D.
4. Once everything is received for everyone in the party applying and the required application fees have been paid, we will begin processing the applications in the order in which they are received. (Incomplete applications will not be processed)
5. Completed applications will be presented to the owner of the property for final approval.
6. Once the application approval is received the lease will be sent via DocuSign (electronic signature) for execution. Approved applicants will have 48 hours to execute the lease, or it may be canceled.
Additional Qualifications / Guidelines:
· The credit score must be 600 or higher on our credit report to qualify. (A credit score of under 600* may disqualify that applicant).
· Occupancy is limited to 2 people per bedroom.
· Rental Insurance is required for the duration of the lease and any extensions or renewals.
Rental Bond Coverage (Rental performance bond) is required for all applications. We offer 2 rental bond coverage providers to choose from. The Guarantors and InsuRent. The Guarantors coverage will enable approved applicants to enter into a lease agreement with $0 security deposit. InsuRent may offer lower rent bond premiums, however a security deposit is due along with the rental bond coverage. Whichever rent bond policy company you choose, minimum required surety bond amounts are 5X monthly rent for the duration of the lease. For those applicants with challenging credit history, or income that is difficult to document or verify these rental bond coverage options offer an opportunity to qualify for the apartment without a personal co-signer. Having two options to choose from enables applicants to decide for themselves which rental bond coverage option is best for their individual circumstances.
INCOME REQUIREMENTS
Net monthly income must be at least 2.0 times the rent amount.
OTHER REQUIREMENTS:
· Possession will not be granted until all move-in funds due have been paid and received.
· Pets must be approved. Certain breeds are not allowed due to limitations in liability insurance. Review our Pet Policy for details.
· Rent will be pro-rated for the 2nd month you move in.
· Persons with prior rental evictions on their records will not be considered.
· Persons owing money to a previous landlord will not be considered.
· Applicants are required to obtain a U.S. Checking or U.S. Savings account and show proof of such prior to the lease commencement date as rent payments and deposits are
processed exclusively using ACH / Electronic Funds Transfer. If documentation is not provided, possession of the property will not be granted, and the lease will be canceled.
Possession will not be granted until all move-in funds have been paid and received, residential lease contract has been fully executed by both parties, rental application has been approved, proof of rental insurance and rental bond policies have been received.
This is not an inclusive list of criteria but does cover the most commonly applicable criteria.
ADDITIONAL GUIDELINES FOR HUD / SECTION 8 VOUCHER HOLDERS:
1. You must submit your Request for Tenancy Approval (RFTA) by electronic mail to us in Adobe PDF file format for processing. The Housing Authority can provide you with an electronic copy of your voucher upon request. Contact your case manager once your rental application has been approved.
2. You must submit proof of rental bond and rental insurance policies prior to commencement of lease.
3. Possession will not be granted until HAP contract has been fully executed by both parties, rental application has been approved, proof of rental insurance and rental bond policies have been received, and unit inspection has passed.
4. Rental unit will continue to remain on-market status until Rent Negotiation is completed and approved by Skycastle Properties. You will receive written confirmation of this approval via electronic mail.
