Rental Criteria

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We Follow the Federal Fair Housing Act 🏠

We are committed to ensuring that all applicants have equal access to housing opportunities. Our policies comply with the Fair Housing Act (Title VIII of the Civil Rights Act of 1968, as amended). This Act prohibits discrimination in housing based on race, color, national origin, religion, sex, familial status, or disability.

 

Fair Housing Act Statute: 42 U.S.C. § 3601-3619

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Application Process 📝

 

To begin the application process, applicants must first complete the Pre-Qualification Screening. This step is essential for us to evaluate your initial eligibility for the property. You must receive approval for the Pre-Qualification Screening before proceeding with the Full Application.

 

Once the Pre-Qualification Screening is approved, you may proceed with completing the Full Application. After the Full Application is approved, a Holding Fee is required within 24 hours to secure the property and remove it from the rental market. This fee demonstrates your commitment to renting the property while your application is being processed. The Holding Fee will automatically convert into your Security Deposit once the lease is signed by all parties, you receive the keys from the property manager, and you move into the property on the agreed date. The holding fee is a payment made to temporarily reserve a rental unit while the application is being processed. This fee ensures the property is not leased to someone else during the agreed holding period. If you choose not to proceed, the Holding Fee will refunded, subject to the funding schedule listed below.

 

Processing Time ⏳

 

Applications are processed in the order they are received and may take up to five (5) business days. Once processed, we will contact you with the outcome. Applications are kept on file for six (6) months.

Application Fees 💸

• Application and Screening Fee: A non-refundable $55 fee per individual over the age of 18 who will reside at the property. If a co-signer is required, they must also pay the application fee. 

• Rush Fee: A non-refundable $250 fee applies if you need an expedited move-in.
  All application fees are non-refundable.

 

Application Criteria ✅

 

Our screening process includes a background check, credit check, rental history, employment verification, and income verification. The following criteria apply:

• Income must be at least three (3) times the rental amount.

• No evictions in the last 10 years.

• No unpaid balances due to previous landlords.

• No unsatisfactory references.

• No felonies in the past three (3) years.

• No foreclosures or bankruptcies in the last seven (7) years.
  Important: We reserve the right to contact your current employer to verify your employment. You must notify your employer and grant permission to discuss your employment status. Failure to do so may result in the denial of your application.

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Reasons for Immediate Rejection 🚫

 

Your application may be immediately rejected for the following reasons:

• Eviction within the last 7 years.

• Outstanding debt to a previous landlord.

• Open bankruptcy.

• Listing on the Office of Foreign Assets Control (OFAC) list.

• Inability to verify your identity.

• Falsifying any information on any documentation submitted to The Nelson Homestead.

• Certain criminal convictions

• Required registration under Megan's Law or SORNA.

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Screening & ResidentScore 📊

We use TransUnion’s ResidentScore, which analyzes rental and credit information to generate a score between 350 and 850. ResidentScore is different from a standard credit score. A guarantor may be accepted if the applicant’s ResidentScore cannot be determined. The guarantor must meet specific requirements, including income verification.

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Income Requirements 💼

 

All applicants must meet one (1) of the following qualification options:

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Option A – Standard Income Qualification

• Gross monthly household income must be at least three (3) times the monthly rent.

• A standard refundable security deposit is required, subject to the terms and conditions of the lease and applicable state law.

 

Option B – Guarantor Program Qualification

• Gross monthly household income must be at least one and one-half (1.5) times the monthly rent.

• Applicant must enroll in and be approved by an approved third-party guarantor program (contact the office for more information).

• All guarantor fees are paid directly to the guarantor provider, are non-refundable, and are not a security deposit.

• Enrollment in a guarantor program does not create any right to a refund of guarantor fees at move-out.

 

Documentation Requirements 📑

Applicants must provide:

• Government-issued photo ID.

• Proof of income (e.g., pay stubs, military LES, bank statements, tax returns).

• Additional forms of identification may be requested if initial documents do not match screening records.

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Pet/Animal Policy 🐾

Not all properties allow pets. For properties where pets are allowed, the following apply:

• Refundable pet fee: $300 per pet.

• Monthly pet fee: $25 per pet.
  Service and Assistance animals are not considered pets and are not subject to fees. However, proper documentation is required.
  Breed Restrictions: Certain breeds, including Akita, Bulldog, Pit Bull, and others, are not allowed. A history of violent behavior in a pet will also result in denial.

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Lease Terms & Additional Information 📅

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• Minimum lease term: 12 months.

• Short-term leases are available only if specified in the listing.

 

Renter’s Insurance 🛡️

 

Proof of active renter’s insurance must be submitted before receiving keys and moving in.

 

Holding Fee 💰

 

Once your rental application has been approved, the Holding Fee must be paid within 24 hours to reserve the home. Payment of this fee guarantees that the property will be taken off the market and held exclusively for you until your scheduled move-in date.

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After the lease is signed by all parties, you receive the keys, and you move in on the agreed date, the Holding Fee will automatically be applied toward your Security Deposit.

 

If you choose not to move forward after paying the Holding Fee, refunds will be issued as follows:

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• Cancellation within 48 hours of payment: 100% refund.

• Cancellation between 49 hours and 8 days before the move-in date: 50% refund.

• Cancellation less than 8 days before your move-in date, or failure to move in as agreed: No refund.

 

Refunds will only be provided if the property is deemed uninhabitable or if your cancellation meets the criteria listed above.

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