Residential Rental Procedures

Residential Rental Procedure/Requirements to Rent

 A RESIDENTIAL APPLICATION MUST BE COMPLETED FOR EACH  ADULT THAT WILL BE RESIDING AT THE PROPERTY

AND REVIEWED BEFORE VIEWING ANY PROPERTY

General requirements

  1. Valid government issued identification with a picture ID will be required.
  2. Employment:  Tenant’s income and employment will be considered as a pre-requisite to tenancy, and employer(s) (up to two years) will be contacted.  Said tenant on lease or assignees with signer must live in leased premises.
  3. Monthly rent figure cannot be more than 25% of tenant’s monthly gross income.
  4. An incomplete or falsified application may be cause for denial.
  5. Management will check with present and previous landlords regarding payment of rent history and care of property.
  6. Applicants must have verifiable employment and/or income history. Proof of income for each applicant must be submitted in the form of consecutive and most-recent pay stubs for the last 4 weeks from application date.  If applicant is starting a new job, applicant must supply an offer letter with compensation terms and the start date of employment.  Self-employed persons must provide a copy of the prior two year’s tax returns.  Unemployed/retired applicants must provide documentation regarding sources of income, e.g. social security, pension, savings, interest, etc. Copies of all documentation will be retained in the lease file.
  7. Deposit:  A Security Deposit equal to one month’s rent is required.  THIS IS NOT LAST MONTH’S RENT.
  8. First month’s rent may be prorated, second month is paid in full; last month of tenancy WILL NOT be prorated, but paid in full.
  9. A credit check is required of all tenants, and landlord’s agent will run a credit check at the time deposit is placed on a property.  A fee of $20.00 will be collected for each adult applying to rent.
  10. All applicants will be notified within two business days of approval or rejection.
  11. Pets: Pets are allowed at the discretion of each individual owner.  If pets are allowed, a pet deposit will be required in full, and shall be 25% of the monthly rent.
  12. Minimum lease period shall be six months. Some units have a lease of one year.
  13. All rents are due on the first of the month and must be mailed or brought to our office. The rent must arrive by the 5th of the month or before.  Rent not arriving by the 5th will have a 10% late fee added to tenant’s account. There will be a $30 charge for all NSF checks.
  14. There will be NO more than two people per bedroom; ex. in a two-bedroom home the maximum number of occupants will be four people.
  15. Management will have proof of utility hook ups before keys to the unit are given to the tenant.
  16. Landlord may retain part or all of the security deposit to cover damages or any violation of the lease.  Normal wear and tear accepted.
  17. Commercial Investment Services will retain deposit if property is taken off market more than 3 days.

 

 Management reserves the right to add or delete any or all of the above guidelines and qualifications.