What are the general requirements for renting?
The general requirements for renting a property may vary depending on the location, the specific landlord or property manager, and the type of property being rented. However, here are some common requirements that tenants may be expected to meet:
Income Requirements: Applicants’ gross monthly household income must be (3x the monthly rent) and sufficient to cover the rent and other household obligations. Co-signers’ gross monthly income must be sufficient to cover (4x the monthly rent) to support their current housing payments and that of the applicant(s).
Credit Requirements: We require a credit score above 675+.
Rental Application: Clients who meet the above criteria are invited to apply. The application fee is $75.00 per applicant. This payment partially defrays the cost of the application screening and is non-refundable. This application includes a credit check and background check to evaluate creditworthiness.
References: We may ask for references from previous landlords or personal references to get a better sense of the tenant's character and reliability.
Security Deposit: Minimum security deposit starts at $1,000.00 and may be increased to be equivalent to (1) or (1.5) months’ rent unless otherwise dictated by law. This is based upon the screening recommendation.
Rental Agreement: A rental agreement or lease is a legally binding contract between the tenant and landlord that outlines the terms of the rental arrangement, including the rent amount, length of the lease, and any restrictions or rules.