STATEMENT OF RENTAL CRITERIA
South Bay Property Management Pros is committed to supporting the Fair Housing Act, prohibiting discrimination based on race, religion, color, sex, national origin, handicap or familial status. The following qualification standards will be required from every prospective resident.
NUMBER OF OCCUPANTS: Each occupant of any residence shall be named on the lease. All occupants over the age of 18 will submit an application and must meet all criteria specified for the primary applicant. The maximum allowable occupants per unit is 2 individuals per bedroom plus one additional person for the entire residence.
CREDIT: Your rental application may be declined due to the negative public record and/or multiple collections that have not been satisfied within 24 months. Applicants may be declined based on vendor risk sources that do not meet the scoring policy of 680 or higher. Negative credit history is described as including, but not limited to, any of the following items.
The absence of a credit file shall not adversely affect any applicant; however, the applicant maybe required to either pay a higher security deposit, pay a certain number of months in advance, and/or be asked to provide a qualified lease guarantor. A lease guarantor must exhibit credit worthiness and the ability to satisfy the rental obligation in the event of default.
INCOME: The total monthly household income must be three times the monthly applicable rent. All applicants will be required to provide written proof that substantiates their income. Such proof will include written verification from employers and/or other income.
In addition, a balance equaling at least six months in reserves must be provided. Liquid financial reserves include cash and other assets that are easily converted to cash by the renter. Examples of liquid financial assets that can be used for reserves include readily available funds in
Applicant(s) must be currently employed at least one (1) year or show a history of dependable employment with successive increase in each job move.
RENTAL HISTORY: Any negative rental history can disqualify any prospective resident’s application. In the event that the application is declined due to negative rental history, a lease guarantor and/or a higher security deposit may be required. Negative rental history is described as including, but not limited to any one of the following:
If you are related by blood or marriage to one of the previous landlords listed or your rental history does not include a minimum of two (2) previous years, we will require a qualified Lease Guarantor for your rental agreement.
CRIMINAL BACKGROUND CHECK: The rental application will be declined if in the last six (6) years, you have had a conviction of any type of crime that would be considered a serious threat to rental property or to other residents’ peaceful enjoyment of the premises. Negative background checks are described as including, but not limited to, any of the following items: Conviction of a felony, Convicted for domestic violence, Convicted for drug possession or trafficking and/or Convicted for theft or burglary.
1. A complete application: One application for each adult (18 years or older) must be completed. If a line is left blank, or an omission explained satisfactorily, we will return the application to you.
2. Two pieces of ID: We require a photo ID (driver’s license or other government issued photo ID card) and a second piece of ID. Both are to be presented with a completed application.
3. False information: Your application will be declined if you misrepresent any information on the application. If the misrepresentations are found after the rental agreement is executed, your rental agreement will be terminated.
4. The full security deposit is required at the time the application is submitted. The amount of the security deposit will vary from residence to residence. If you withdraw your application after we have incurred the screening expenses, we may not refund your full deposit. In all other cases, deposit will be refunded.
5. Pets must be approved by Management. The maximum size is 28 pounds, 14 inches.
6. Application Fee is $50 per applicant. If a lease guarantor is required for application approval, there is also a $50 application fee.
7. We will accept the first qualified applicant. Our company policy is to screen the applications in the order that they are received in the office. In no instance will a second applicant be screened until a decision has been determined on the first applicant.