How We Screen Your Rental Applicants
We work hard to find the right tenant for your investment
We strive to get your investment rented quickly, but feel it is important to get the RIGHT tenant versus the FAST tenant! Spending time up front and finding the BEST tenant for your rental creates a good experience all around, versus one that is stressful and frustrating.
Oftentimes people think they just need to do a quick credit check and verify employment but there’s more to it than that. Our high quality tenant selection criteria and our customized screening process digs deeper to create a RentGrade Report. We gather extensive information on the following:
- Credit Check
- Debt to income ratios
- Criminal history check
- Employment verification
- Eviction history check
- Previous landlord calls
Our screening process is not just based on a credit score only - we take a comprehensive look at the overall applicant. This process has proven to be extremely successful. RentGrade is a tenant risk solution that predicts the probability that a tenant will pay their rent on time and fulfill the financial obligations of their lease. Our grade system allows you to decide quickly using powerful tools packaged into an easy-to- understand letter grade.
- All Adult applicants 18 or older must submit a fully completed, dated and signed residency application and fee. Applicant must provide proof of identity. A Non refundable application fee will be required for all adult applicants. Applicant may be required to be approved by a condo/homeowner’s association and may have to pay an additional application fee or an additional security or damage deposit. Owners reserve the right to entertain multiple applications. We have no control when applications are submitted. All applications fully submitted within a 24-48 hr period; including and not limited to holidays/weekends will be submitted to the owner for consideration.
- Applicants must have a combined gross income of at least three times the monthly rent. We reserve the right to require a cosigner. A minimum of two years residential rental history is required. We may deny on the basis of this income requirement even if prepaid rent is offered by the applicant.
- Credit history and or Civil Court Records must not contain slow pays, judgments, eviction filing, collections, liens or bankruptcy within the past 5 years.
- Self employed applicants may be required to produce upon request 2 years of tax returns or 1099s and non employed individuals must provide verifiable proof of income.
- All sources of other income must be verifiable if needed to qualify for a rental unit.
- Criminal records must contain no convictions for felonies within the past 7 years involving the manufacture or distribution of controlled substances. For other felony convictions, we will conduct individualized assessments that take into account mitigating factors, such as facts & circumstances surrounding the criminal conduct, age at time of conduct, evidence of good tenancy before and after conduct, nature & severity of conviction and the amount of time that has passed since the conviction. Criminal history which indicates that an applicant’s tenancy would constitute a direct threat to the health or safety of other individuals or whose tenancy could result in substantial physical damage to the property of the owner or others may result in rejection of the application.
- Previous rental history reports from landlords must reflect timely payment, sufficient notice of intent to vacate, no complaints regarding noise, disturbances, no unpaid NSF checks, and no damage to unit or failure to leave the property clean and without damage at time of lease termination.
- No pets (with the exception of medically necessary pets for the benefit of the occupant(s)) of any kind are permitted without specific written permission of landlord in the lease document, an addendum to lease, a nonrefundable pet fee acceptable to landlord and/or an additional pet deposit or additional security deposit. Fees and deposits are waived for medically necessary pets.
- A minimum non-refundable property lease preparation fee may be charged to the Resident(s) at time of leasing the property. Other mandatory minimum fees for cleaning, carpet cleaning, rekeying etc may be charged as per the lease. Resident(s) shall still be liable for amounts for damages, cleaning, re keying etc that exceed this non refundable property preparation fee or minimum fees.
- Applicants will be required to pay a security deposit at the time of lease execution in a minimum amount of one month's rent. We reserve the right to require a higher security deposit and or additional prepaid rent.
- The number of occupants must be in compliance with HUD standards/guidelines for the applied for unit.
- We may require a holding or good faith deposit to be collected to hold a property off the market. In the event the application is approved and the applicant fails to enter into a lease, the applicant shall forfeit this deposit. In the event the application is approved, this deposit shall be applied to the required security deposit.
- Any exceptions to our company’s criteria will need to be submitted in writing to the rental agent for presentation to the landlord for consideration. If approval is then given for such exceptions, additional security, co-signers, and/or additional advance rent payments may be required.
- Our company policy is to report all non-compliances with terms of your rental agreement or failure to pay rent, or any amounts owed to the credit bureau and/or a collection agency and if the amount is disputed, it shall be reported as disputed in accordance with law.
- Tenant must sign our lease. You can read a sample lease here: Sample Lease
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Marketing is key to successful rentals. Property You provides an expert market analysis for each property we manage to maximize your return on investment.
We conduct extensive screening on all tenants and handle everything from moving your qualified tenant into their new home, to rent we collection, to handling maintenance issues.
We make sure you get paid on time, every time with instant transfers right to your bank account. You no longer have to worry about chasing tenants down for rent because we take care of everything so you have to worry about nothing.
We conduct inspections upon move-in and move-out that include documentation of the property’s condition and ensure all maintenance issues are addressed in a timely manner. Throughout each tenant's lease we do quarterly inspections and are able to maintain your property’s value and condition.
With our detailed financial reporting tools, it's never been easier to keep tabs on your investment. Log into your owner portal to view statements and stay in tune with how your investment is performing. All 1099 reporting for vendors that serviced your property and your year end accounting reports are done for you to hand to your accountant and all vendors used are sent by us on your behalf.
An eviction is always the last resort at SPM. In the unfortunate event that a tenant needs to be evicted from your rental, we will coordinate with our eviction attorney all notices and a simple uncontested eviction for our owners that are under contract with us. We will make every effort to quickly ensure your investment is protected and get you back to producing income. (Attorney’s fees will apply)
Rest Easy Knowing We’ve Got You Covered.
We believe in quality customer service and upholding our written agreements. If for any reason you wish to discuss your agreement and services with us, our Operations Vice President will address and resolve your concerns within 24 hours of your request. In the unlikely event that we can not resolve your concerns, you can cancel your agreement with a 90 day written notice.
For any pet that you approve, we guarantee our owners will have upfront payment of a pet fee you determine for allowing the pet. We also can coordinate a monthly pet rent payment for the owners as well to offer them further peace of mind.
With our results guarantee you don’t pay us until we show results! If we are leasing your property for you, we do all the work up front and you don’t pay us until you get a qualified tenant. That means we aggressively market and show your property, screen the tenants, handle all of the paperwork and perform a move-in inspection...all before we get paid anything. When tenants have not paid the rent, we will coordinate collecting and posting notices and will not be paid a management fee until we have secured your rent payment. (Does not apply for coordinating and preparing a property that is not market ready.)
As a property management company, we require tenants to carry liability insurance policy up to $100,000 per occurrence. This reduces your risk of having to pay out of pocket in the event of accidental tenant-caused damage (like kitchen fires or water damage) to your property. This is no cost to you as the owner and reduces your risk of having to file on your own property insurance policy.
If you are unable to get income from rent on your home due to a negligent resident event occurrence we will assist in coordinating liability insurance covering loss of income until we can get rental income incoming for you again.