DeGuire Property Management (DPM) Rental Qualifying Criteria
FAIR HOUSING LAWS:
- As a company, we do business in accordance with the Federal Fair Housing Law and welcome persons of all race, color, religion, sex, handicap, familial status or national origin. We believe in providing equal opportunity to all persons regardless of their age, sex, race, color, religion, national origin, ancestry, disability, familial status, marital status, sexual preference/orientation and any other factor deemed impermissible for consideration in accordance with applicable local, state and federal laws and we are committed to enforcing the Fair Housing Laws.
APPLICATION PROCESSING AND TIME FRAME:
- If you fully complete the application, and provide us with accurate contact information for your current and/or previous landlords, we can usually process your application in 1-2 business days. We pledge to process your application, whenever possible, during the same day that you apply. In some cases approval of homeowner associations, condo associations, homeowners, or unforeseen circumstances may require some applications to take longer. You will be contacted as soon as possible upon determination of approval or denial. All adult occupants over the age of 18 must submit a fully completed, dated and signed rental application and application fee.
- DPM may terminate any agreement entered into (including the lease) in reliance on any misstatement made in the application. DPM may question and seek information from all person(s) and/or firms named by you in the application and contract to lease, and you further authorize DPM to acquire your credit report and criminal background check from any authorized credit agency. Acceptance of the application is conditioned upon a credit check and other verifications that are satisfactory to DPM.
- If you decide to apply to rent one of our properties, there is a NON-REFUNDABLE application fee of $60 per applicant 18 years and older that must be submitted with your application. Incomplete applications or applications submitted with obvious conflicts with HOA/Condo rules will not be processed.
- Some Homeowner and Condominium Associations may require a separate application and fees and if such is the case, you must also apply separately to such homeowners or condominium association and remit whatever other application fee may be required.
THE APPLICATION PROCESS:
- Upon receipt of your rental application and application fee, you can expect and hereby authorize that we will (1) check your credit report; and (2) check the public records for any past evictions; and (3) verify your employment; and (4) verify your previous landlord references; and (5) perform a criminal background check. If you have bad credit, bad references, have ever been evicted within the past 5 years or have within the last 7 years any felonies of illegal manufacture or distribution of a controlled substance, felonies resulting in bodily harm or intentional damage or destruction of property for example, “arson”, you will either be declined or may be required to post an additional security deposit as a part of your approval. In addition, Co-signers/Guarantors may be considered on an individual basis. Criminal history of a sexual crime or crime against another person is an automatic denial.
- Once you have been notified of your approval, you must place a security deposit (by cashier’s check or money order) equal to one month’s rent, within 48 hours of your approval notification. Once approved and payment of the security deposit is paid your security deposit is non-refundable. In the event that you fail to enter into the lease agreement or refuse to take possession of the property on or before your applied for beginning rental date, you shall forfeit these funds as liquidated damages. Due to the high demand for rental homes, we will not hold the property you applied for off the rental market for more than 48 hours unless you provide the required security deposit. If you do not comply with this requirement, we may rent the home you applied for to someone else.
- All applicants must see the interior of the property before an application can be submitted. The property must be accepted in, “AS IS” condition before an application can be accepted, except where there is written agreement for maintenance or repair items. Any such maintenance or repair request (if any) must be written and included with your application under “Other Items Requested”, in the contract to lease portion of your application. If your maintenance and repair request are acceptable to DPM, then that agreement will be written in the lease or lease addendum. Verbal representations are non-binding. In the event that the Property Manager shall receive two or more unrelated applications for the same property, the applicant understands the manager may select the applicant desiring the property in “AS IS” condition, over another applicant requesting maintenance or repairs.
- The security deposit must be paid by cashier’s check or money order payable to “DPM”. Subsequent months thereafter may be paid by check.
RESIDENT SELECTION CRITERIA:
To qualify for the advertised monthly rental amount you must meet the following criteria:
- Applicants must have a combined gross income of at least three (3) times the monthly rent. Incomes must be verified in writing. Applicant must provide 2 most recent paycheck stubs. Self-employed must provide 2 years of tax returns or 3 months of bank statements. Three years of residential history is required. Rental history must be rated satisfactory or better, with no record of evictions within the past 5 years. We reserve the right to require a co-signer/guarantor and/or a higher security deposit. Co-signers are accepted at the Property Managers discretion only, must meet all requirements.
- Credit history and/or Civil Court Records must not contain landlord judgements, eviction filings, landlord collections, or liens. We will not provide you with the credit report or tell you of its contents; however, we will provide you with the name of the credit reporting agency so you may request a copy from the credit bureau. All information collected for the approval or denial of this application is considered confidential in nature and for company use only.
- No bankruptcies within the past 5 years.
- No more than one NSF’s or late payment within a 12 month lease.
- Credit score must be 600 or higher.
DPM will work diligently to assist you renting a property. However, additional criteria/guidelines are required when the above criteria cannot be met:
A qualified Guarantor/Cosigner needs to show five (5) times the monthly rental amount.
- Written verification of resolution of credit problem(s) is provided.
- Six month’s rent is paid in advance and maintained through the first six months of the leasing period.
- The property owner agrees to accept the application with the additional security deposit. This may vary from owner to owner.
TENANT REQUIRED INSURANCE:
Renters Insurance is required for all Leases and Lease Renewals. Tenants are required to name DPM as an “Additional Insured”.
- Self-employed applicants may be required to produce upon request two (2) years of signed tax returns or IRS 1099 forms. Non-employed applicants must provide proof of income.
- Valid current photo ID documentation (driver’s license, military ID, or State ID) is required.
- Previous rental history reports from previous landlords must reflect timely payment, sufficient notice of intent to vacate, no complaints regarding noise, disturbances or illegal activities, no NSF checks, and no damage to rental property or failure to leave the property clean and without damage when you left the property.
- Current occupancy standards are a maximum of 2 persons per bedroom, except for infants under 4 years of age. However, some city and county municipalities and/or homeowners associations prohibit more than two (2) unrelated adults to reside in a single family dwelling unit. Consequently, DPM also prohibits the rental of a single family dwelling to more than two (2) unrelated adults.
- No pets (with the exception of legally defined emotional support or service animals) of any kind are permitted without the specific written permission of DPM. Please see our Pet Policy and Pet Screening process by clicking on the following link:
- Rent is to be paid online through the tenant portal or at a participating 7-Eleven, CVS or Ace Cash Express.
- Keys will be released on the first (1st) day of occupancy as stated in the lease agreement. Request for keys earlier must be accompanied with additional pro-rated rent and must have DPM prior approval.
- Security deposits are security for faithful performance by tenants of all terms, covenants and conditions of the lease agreement and tenants may not dictate that the security deposit be used for any rent due. Unless claimed due to a breach of lease of damages, the security deposit is refundable when the tenants move out of the property at the expiration of the lease term.
- Maintenance and Repair – When you rent a home from our company, we strive to ensure that all items are in good working order. Please report any maintenance or repair request during your first 5 days of possession.
Media Release – We routinely video tape the condition of our managed properties before and after each tenancy, as well as market our property and business with video tours, testimonials and etc… Applicant understands and agrees our company can use these videos for any legal purpose, and accepts any risk or consequence from these videos being used in the course of business.
- Multiple Applications – Because we process applications so quickly, it is rare that we will ever have multiple applicants for the same property. In such an instance, you can expect that we will make every effort to inform you in advance of this situation. If such is the case, we will process all applications for consideration as to what we (in our sole discretion) deem the best applicant, which may not necessarily be the first application received. In such cases, more than one applicant may be approvable, however only one will eventually be approved. Because we represent the best interest of the rental property, we will accept the best application, which may not necessarily the first application received. In order to evaluate the various applications it is necessary for DPM to expend time and cost in credit reports, criminal reports, and other administrative cost. Hence, it is our policy that the application fee is non-refundable. If your application is approvable, but not the approved one for the property for which you are applying, you may consider applying for other available properties that we may have, without payment of an additional application fee.
- Leasing Consultants – DPM may provide leasing consultants to grant you access to preview our properties, to distribute rental information, applications, rental process and application disclosures and contracts to lease our properties. The leasing consultant is not authorized to negotiate on behalf of DPM. Verbal representations are non-binding. Once your application is submitted to DPM, the approval/denial and negotiation process (if any) will be handled by the Property Manager in charge of the property for which you are applying.
You and any co-applicant may not withdraw your application or the application deposit. If you or any co-applicant withdraws an Application or notifies us that you’ve changed your mind about renting the dwelling unit, we’ll be entitled to retain all application deposits as liquidated damages, and the parties will then have no further obligation to each other.
Keys or Access Devices. We’ll furnish keys and/or access devices only after: (1) all parties have signed the Lease Agreement and other rental documents referred to in the Lease Agreement; (2) all applicable rents, security deposits, admin fees and pet fees (if applicable) have been paid in full; and (3) you provide a copy of your Renter’s Insurance Policy.
Thank you for applying to DPM!