Rental Application Criteria
Rentals Qualifications Requirements
This information below details the RB Legacy PM Inc., Tenant Qualification Requirements, as well as additional information regarding the RB Legacy PM Inc. application and approval processes. It may be revised, modified, or updated at any time by RB Legacy PM Inc. at the sole discretion of RB Legacy PM Inc. Applicants may be subject to additional qualification criteria by local municipalities or homeowner’s associations (HOAs) where applicable.
Application Process
All adults, 18 years of age and older, (excepting special-needs persons, or considered to be an adult by law), who are applying to occupy the property are required to complete the application in its entirety and pay an application fee of $55.00 per applicant.
Applicants confirm that all information provided is true and accurate and acknowledge that any falsification on the application or doctoring of any required documents will result in an automatic denial.
Applicants are required to pay a $55.00 non-refundable application fee charged on a per applicant basis to authorize processing of the application.
If approved, all applicants are required to sign their lease prior to taking occupancy.
Once the application is approved the applicant will receive an Official Notice Of Approval that will outline what is required to secure the property. Once the Official Notice of Approval is executed and returned to the manager, and the first month's rent is paid along with other costs, the manager agrees to take the property off the market and hold it for the applicant.
All Applicants are required to provide Proof of Identity in the form of valid, current, government issued photo identification.
Fair Housing Commitment
All Landlords and Landlord’s agents provide equal housing opportunities to all Applicants regardless of race, color, religion, national origin, sex, handicap, familial status or any other protected status.
Renter’s Insurance
All residents are strongly advised to procure Renter’s Insurance as the owner’s policy DOES NOT cover the applicants personal property.
Pet Policy
Residents pay a monthly pet fee based on number and size of their pets. All pets living in the home must be disclosed to manager and are subject to the approval of manager. Pets are limited to cats and / or dogs only. Restricted dog breeds may include but not limited to: Rottweilers, Pit Bulls, any Chow mix and Dobermans. There may be additional pet qualification criteria and rules from local municipalities or homeowner’ associations (HOAs). Service animals for persons with disabilities are not considered to be pets and are thereby not subject to managers pet policy. Service animals require documentation from a medical professional.
Rental Criteria
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Applicants and Occupants - All Applicants must be 18 years of age or older to enter an executed lease contract.
All persons occupying the property need to be identified in the application and disclosed to manager . This includes all minor and dependent children.
Occupancy Limits – HUD guidelines limit occupancy of a property to two people per bedroom which is the standard adopted by manager for occupancy limits.
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Criminal Background Check – A criminal background check will be run for every applicant.
All criminal (sex offender) histories discovered through the applicant process will be treated the same. Any felony convictions within the past 5 years will result in an automatic denial of the application.
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Rental History – Applicants will be required to provide rental history (ownership history) for at least the past 2 years. Additionally, a rental history check will be run for every applicant. When applicants can't verify rental history through an independent source (they lived with a family member or significant other) manager requires an additional half month's rent as a security deposit for the first 12 months of their lease.
Prior evictions, filed or enforced, may result in an automatic denial of the application.
Any outstanding debt or judgment owed to any prior landlord may result in an automatic denial of the application.
Manager may request rental history verification if unable to verify the rental history information provided by applicants.
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Credit – A review of credit history will be entered into a scoring model to determine credit worthiness.
An insufficient credit risk score may result in an automatic denial of the application or an additional Risk Mitigation Fee in addition to the rent.
Open bankruptcies may result in an automatic denial of the application.
Scores that are considered moderate to high risk may result in a more detailed credit history review and/or an increased security deposit and or additional fees.
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Income – The minimum gross income, totaled among all qualified applicants, is considered to be three times the gross monthly rent.
Applicants that are employed will be asked to provide proof of income in the form of, at minimum, the previous three paystubs or full bank statements for the previous 2 months.
Applicants with an offer of employment or transfer of role from their previous employer are required to provide an official and verifiable Offer Letter and/or Transfer Letter on employer letterhead confirming terms of compensation and start date. The letter must be signed and dated by the offeror and include contact information for the offeror.
Additional income sources including social security, child support, disability, retirement, and housing choice vouchers are accepted.
Additional income sources must be verified through applicable documentation to be considered part of the applicant’s gross monthly income.
Additional Documentation
Manager at its sole discretion, may require additional income or credit documentation such as complete bank statements from any or all applicants before making a final approval decision.
If additional documentation or verification is not provided by the applicant, manager at its sole discretion may elect to cancel the application.
Employment Verification
Prior to Move In, all applicants claiming employment as their source of income will need to complete the Employment Verification.
Employment Verification forms will be sent by manager and need to be completed in full, and returned to manager, by a member of the applicant’s Employer’s Human Resources Department.
Employment Verification can also be completed, where applicable, through Equifax or another comparable and qualified credit bureau.
Application Does Not Create a Lease
This application, even if accepted, shall under no circumstances be considered a Lease between Applicant and manager, or an offer to lease. No lease shall exist between applicant and manager unless and until the parties enter into a formal Lease Agreement and applicant pays all required fees, security deposits (where applicable) and rent.
Resident Rewards Package
Property managers have different Resident Rewards Packages to entice residents to rent their properties and keep residents for long periods of time. Manager has such a program that is funded partially by owners, vendors, Manager and partially by residents. Applicants will have a chance to review Manager’s Resident Rewards Package and assess their share of the cost before being asked to execute a lease. This program evolves over time but the resident’s cost/benefits will not change during the lease term. Contact Manager for more information before you apply if you have questions.