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Rentomatic Property Management, LLC
A separate rental application must be processed on all prospective residents 18 years of age or older, and an application fee paid for each applicant. A valid form of legal identification is required at the time of application and move-in. All prospective residents will be qualified on the following criteria.
APPLICATION FEES
Each applicant over the age of 18 must pay an application fee and consent to have a background check done on them. Co-signers must also pay an application fee and give the same consent as other applicants. Application fee is non-refundable.
PHOTO IDENTIFICATION
All applicants over the age of 18 must provide current government issued photo identification at the time of application.
CREDIT HISTORY
The first step in the application process is a credit report which will be processed on each applicant. The credit report will be part of a scoring model. Approval will be based on the indicators of future rent payment performance. A positive credit score must be obtained for the approval process to continue. If applicant takes exception with the credit findings, he or she is responsible for contacting the credit bureau.
EMPLOYMENT
When applying, it is the obligation of the applicant(s) to provide proof of employment through a copy of two (2) most current paycheck stubs; or job offer letter stating the start date and salary on company letterhead. If income cannot be verified, a Co-Signer or additional deposit will be required.
INCOME
Applicant(s) must have a verifiable source of income that when combined the gross amount is equal to a minimum of 3 times the monthly rent. If retired or unemployed applicant must provide other sources of verifiable regular monthly income, (for example: investments, trust funds, child support, alimony etc.) that cover 2.5 times the monthly rent for monthly income sources; or cover the entire amount of the lease term (for example: savings accounts). Applicants who do not have the requisite income will be considered if they provide a co-signer or provide proof of cash reserves equal to at least 6 times the monthly rent.
RENTAL HISTORY
Applicants must provide at least 6 months of verifiable rental and/or payment history within the last 2 years from a landlord, apartment community or mortgage company, (including a prompt payment record and compliance with all community policies). Acceptable rental/payment history would include no more than three (3) late payments or returned checks per year residency. Reference information from family or friends will not be considered.
CONDITIONAL APPROVAL
An additional deposit up to two (2) month’s rent or Co-Signer will be required if the credit score is in the conditional approval range or criteria for any one of Income, Employment or Rental History have not been met, or have only been partially met. All adverse action requirements will be combined when reviewing multiple applications. NOTE: In the event a co-signer is required, he/she must complete an Application for Residency and meet all of the Rental Selection Criteria. A co-signer will be full responsible for the Lease Agreement if the occupying resident(s) default.
AUTOMATIC DENIAL FOR RESIDENCY
An Applicant will automatically be denied for the following reasons:
– Falsification of any information on the Rental Application
– Credit Score in the “Decline” range
– Anyone found and verified to be on the Sex Offender Registry
– Anyone currently in the process of filing a bankruptcy
– Having been evicted by a previous landlord for cause
– Any unresolved debts to a landlord or mortgage holder. (Unless debt is paid prior to approval of rental application).
– Rental applicants who have charges against them for one or more criminal offenses involving violence, sexual assault, drug-related activity,
injury to a person or damage to property, including, without limitation, homicide, battery and assault, sexual assault,
possession or sale of an illegal substance, burglary or theft, illegal possession or sale of sale of weapons.
– Rental applicants who have been convicted of one or more of such criminal offenses
– Rental applicants who have plead guilty or no contest to one or more of such criminal offenses
– Rental applicants who have had one or more of such criminal offenses disposed of other than by an acquittal or finding of “not guilty”.
Application fee: $45.00
