Rental Criteria
All applicants 18 years of age and older are required to apply and meet the established criteria to be considered for residency with Home Realty & Management. By applying, applicants acknowledge that photos, videos, and descriptions of the property, whether verbal or written, are not sufficient to provide a full representation of a property. Please note, all application fees are non-refundable once processing begins.
If approved, applicants have 24-hours to execute the lease agreement, and an additional 24-hours to submit the security deposit and non-refundable lease administration fee. Please note that security deposits are not permitted to be paid by credit card. While Home Realty & Management reviews completed applications on a first-come, first-served basis, we reserve the right to continue showing the property and accept applications from other parties if the applicant(s) has not signed the lease agreement AND paid all move-in fees.
Verifiable Gross Income:
Gross monthly combined household income (before any deductions) must be at least 2 times (2x) the monthly rent. Roommates must qualify separately with an income of at least two times (1.5x) rent for EACH roommate, e.g., two (2) roommates must have a combined income of three times (3x) the monthly rent. Three (3) roommates must have four and a half times (4.5x) the monthly rent. No more than three (3) unrelated parties are permitted to occupy.
You will need to submit proof of income and upload it with your application when applying. The following are the only methods we accept to determine your income:
- Employees – Payroll stubs from your employer verifying the last 6 months of income. You will need to send your last pay stub from the prior year if your most recent pay stub doesn’t show six (6) months of income (typically via YTD). If you have a new job, please send your offer letter showing your new income, and your prior employment pay stub(s) to show at least six (6) months of income history.
- Self-employed/Independent Contractors – Bank statements showing the last six (6) months of deposits, and the most recent 1099 and tax return.
- Official income statements – Social Security, Child Support, Unemployment, Disability, etc.
Credit History:
A minimum credit score of 635 (per TransUnion) for ALL applicants, and monthly debt obligations don’t exceed 50% of the gross monthly income. Credit history must show the applicant has paid bills on time and does not have a history of debt write-offs or accounts that have gone into/are in collections. Medical bills and/or student loans may be overlooked.
Rental history:
More than one (1) late payment past the grace period will be an automatic rejection of your application. No history of any damage to the residence, or an outstanding balance due to a previous landlord. No Forcible Entry & Detainers (evictions) unless the applicant can provide verifiable documentation of landlord negligence/irresponsibility. Eviction due to property damage by the applicant will not be accepted under any circumstance.
Smoking:
No smoking is permitted inside the residence or on the premises – no exceptions. This extends to any odorous-related nuisances, including, but not limited to, cigarettes, cigars, vaping, smoking jackets, secondhand smoke, animals, negligent environments, etc.
Marijuana:
Home Realty & Management prohibits the use, possession, consumption, and cultivation of marijuana in any of our rental properties. We do not allow marijuana inside the residence or on the premises for any reason – no exceptions.
Renter’s Insurance:
Home Realty & Management requires all residents 18 years or older to carry liability insurance in the amount of $100,000 or more to cover their legal liability for damage to the property during their lease term.
Criminal Background Check:
Residency may be denied due to criminal history. Before applying for a residence, please contact us to discuss crimes that may disqualify an applicant for residency.
No Co-signers:
We do not accept co-signers or guarantors – ADA and the like are the only exceptions.