Property Management Systems Rental Criteria

RENTAL / LEASE POLICIES

THE FOLLOWING POLICIES ARE ESTABLISHED TO ENSURE THAT ALL PROSPECTIVE

APPLICANTS FOR A PROPERTY PROCESSED BY PROPERTY MANAGEMENT SYSTEMS

WILL BE TREATED EQUALLY.

Please read the following policies. If you feel you might meet the guidelines for qualifying, we

encourage you to submit an application. An incomplete application will not be considered.

APPLICANTS

Each person 18 years of age or older must complete and sign an application and only the applicants may reside in the property.

If a co-signer is necessary, the co-signer must also complete and sign an application. The acceptance of a co-signer is not normal policy and is subject to individual approval or denial by Property Management Systems.

The denial of one applicant will result in the denial of the entire application.

To be processed and considered, a non-refundable processing fee must accompany applications.

The application will not be considered with missing or false information.

Generally, no more than two residents per bedroom.

PROCESSING FEES

$49.00 Non­refundable Processing Charge for Each Applicant.

PAY ONLINE or CASH, MONEY ORDERS AND PERSONAL CHECKS WILL BE ACCEPTED.

Once you have been approved, you will have 48 hours to pay a holding deposit of $500. This will be applied to your rent once you execute the lease agreement (within five business days of approval). If you fail to enter into a rental agreement, your $500 holding deposit will be forfeited.

CREDIT CRITERIA / CRIMINAL BACKGROUND / RENTAL HISTORY

Property Management Systems will obtain a credit report and Criminal Background check and rental history for each applicant and co-signer 18 years of age or older. Reports supplied by applicants will not be accepted. Discharged bankruptcies are acceptable.

 

CREDIT – A credit score below 625 could be denied or require additional deposits and/or co-signers.

Discharged bankruptcies are acceptable.

 

RENTAL HISTORY REQUIREMENTS

1. One year of verifiable rental or mortgage history from a current third party is required. Home ownership is verified

through the county tax assessor. Mortgages currently reflecting a past due balance will require an additional security

deposit equal to one month’s rent. Home ownership negotiated through a land sales contract is verified through the contract holder.

2. Rental history demonstrating residency, but not current third party rental history, will require an additional security deposit equal to 50% of one month’s rent or qualified co-signer. (Rental references ending 12 months prior to the date of application will not be considered current.)

3. Eviction-free rental history is required.

4. Rental history reflecting past due rent or an outstanding balance will be denied.

5. If a landlord gives a negative reference or refuses to give a reference, the application will be denied.

6. Three (3) or more 72-hour notices within a period of one year will result in a denial.

7. Three (3) or more NSF checks within a period of one year will result in a denial.

8. Rental history demonstrating noise or other documented complaints will result in a denial when the landlord would not re-rent.

 

INCOME CRITERIA

Applicant’s gross monthly income must be three times the amount of the monthly rent.

Income will be verified from copies of the prior month’s pay stubs provided with the application or by a phone conversation with the applicant’s supervisor.

Self-Employed applicants must provide the most recent tax returns and 3 months bank statements.

Unverifiable income will NOT be considered.

IDENTIFICATION

Government Issued Photo ID must be provided at the time lease/rental agreement is signed.

CONDITION OF MOVE-IN

Hours for lease signing are Monday through Friday, between 9:00 A.m. and 4:00 P.M., and Saturdays by appointment only.

All utility and garbage accounts, where applicable, must be transferred into the residents’ name as of the date of possession.

Security Deposits and first month’s rent are to be paid in cashier’s check or money order before keys are provided. (Daily rate will be charged if keys are delivered prior to date on lease/rental agreement).

Note: Some properties do not allow pets.

    

 

Property Management Systems

Your application will not be processed without the correct funds

and all documentation attached!

If you feel you are qualified for the property after reading the attached Rental/Lease Policies, please

follow these instructions:

1. Your application will not be processed without the correct funds and all current documentation attached.

2. Fill out the application completely and legibly. Each person 18 years of or older that will be residing in the property. This Fee is non-refundable.

3. Reliable and legal documentation and telephone numbers are required to verify income.

4. If employed, you will need to submit a copy of your last year’s W-2 Two (2) of your most recent pay stubs.

 5. If self-employed, applicants must provide the most recent tax returns and 3 months bank statements.

6. A copy of a photo ID, i.e.: Driver’s License, Military ID, etc., MUST BE SUBMITTED.

Applications will be contacted within 3 business days as to the status of their application.

Applications will not be denied because of race, color, religion, national origin, sex, familial status or

If you have any questions, please feel free to call us at (503) 515­-3170.

THANK YOU FOR YOUR APPLICATION