Real Estate Professionals
A Prospective Tenant's Perspective of the Application Process
If you are a prospective tenant have contacted us and made arrangements for a personal tour of the property, the terms and conditions of the lease will be discussed with you, and you will make your decision about applying for the property. You will be provided with a copy of our qualifying criteria so we can determine if you are a good fit for the property. If you pass that hurdle, the next step is to submit the Application. This form must be filled out by all prospective tenants for the property, and returned to us for processing. When the application is returned, we expect the application deposit (which will become the security deposit once the application is approved) to accompany the application, as well as the application fees we use to process the application. If you do not provide us with certified funds for the application deposit, we may process the application, but the property will not be removed from the active leasing market. You could risk being passed over for a tenant who provided both application fee and application deposit.
The Application Fee is $40 per applicant, payable in cash or certified funds. Our background checks are performed by a disinterested third party, and include the following verifications:
* Verification of Social Security Numbers
* Verification of Drivers License Numbers
* Verification of Date of Birth
* Complete Credit Check
* Verification of past and current mortgage or lease information
* Verification of past and current work history
* Criminal background check
* Terrorist background check
Our minimum target credit score is 600. If you know your score is below this figure, please consult with us before making application.
The verification process takes anywhere from 24 to 72 hours to complete, based on many factors. The more complete your application is, the easier the applications are to process and verify. Once we have completed our due diligence, we will contact the property owner to present the application for their approval.
After the owner gives their approval of the applicant, we will contact either your REALTOR® or you directly (if you are not represented by a REALTOR®, to inform you that you have been approved for the property. We will then make arrangements for you to come into our office and formally sign the lease.
During the lease signing, you will be presented with many more forms for their signature. To begin, you will be presented with the Information About Brokerage Services document, so you will understand that we as a company were working in the best interests of the Landlord.
You will then be presented with the lease itself. The Residential Lease is a 14 page document, which addresses most issues that will be of concern to both you and the Landlord. If you have pets and the Landlord has agreed to make the property available to tenants with pets, you will sign a Pet Agreement. Additionally, if you are moving into a property that was constructed before 1978, you will be presented with the Lead-Based Paint Addendum, and you will also be provided with valuable information about protecting their family from Lead-Based paint hazards.
Depending on your move-in date, you may be asked to return to the office to complete a new-tenant orientation, or it may be done on the same day as the lease signing. Whatever the timing is, this is the time that we will present you with the Landlord's rules and regulations to them, as well as an Inventory and Condition Form for completion in the first few days of your tenancy. You will also be provided with Maintenance Request Forms and policies and procedures for emergency and regular maintenance.
DOWNLOAD SPECIFIC LEASE FORMS HERE:
1) Lease Qualifying Criteria
2) Lease Application
3) Residential Lease
4) Pet Agreement
5) Lease Inventory & Condition Form
6) Lead Based Paint Addendum
7) Protect Your Family from Lead In Your Home