Hello there! Today we will discuss some ideas to include in your rental criteria and go over an example that Patti Widget has provided to us. Having a solid idea of what you’re looking for in a tenant can save you valuable resources such as time and money. It also helps deter prospects that would otherwise waste your time if you didn’t have this list. You can download a free PDF copy by clicking on the link in the description of this video.
So, let’s go over the list.
- All persons 18 or older must apply.
- Application screening fee is $45.00 per person and is non-refundable.(Money Orders only)
- You must have good credit, a FICO score of 650 or higher is required; if you do not have any FICO score then tenancy may be obtainable with a security deposit of 2 times the amount of the monthly rent.
- NO PREVIOUS EVICTIONS!
- You must have 1 year of verifiable income, pay stubs, bank statements, or income tax records.
- You must have good previous rental history.
- You must have government issued photo identification. ( state driver’s license, passport)
- You must have a social security card or TIN.
- No felony convictions for manufacturing of an illegal substance.
- You must make 3 times the amount of the monthly rent to qualify.
- Some pets may be allowed with additional deposits, documentation and additional rents may be required, please inquire.
- The occupancy limits for this property are 2 persons per bedroom + one.
- Our office does not accept incomplete applications.
- All applicants must see the property before applying.
- If a co-signer is required to approve the application, the co-signer must meet the above criteria with the following changes: the FICO score must be 700 or higher and the monthly income requirements are 5 times the amount of the rent.
Completed applications are processed on a first come first served basis.
Processing time for completed applications is can take up to 3 business days.
Once approved the security deposit will be due within 72 hours and needs to be paid with cashier’s check or money order.
The first month’s rent is due at move in and the second month’s rent will be prorated. Cashier’s check or money order only.
Download your FREE PDF copy of the example we provided by clicking here: Rental Criteria Example – Courtesy of Fast Eviction Service.