We feel it’s important for potential tenants to be informed about our policies before they apply or sign a lease.
Application: Our application is only available online through a third party provider. They are equipped to safeguard your sensitive information, far better than you filling out a paper application that could be seen by anyone.
Security Deposit Adjustments: All of our properties have a deposit amount listed. This deposit amount is considered the “standard” damage deposit for those applicants that have acceptable risk factors based on the price of the home (as the home price increases less risk factors are acceptable) there are 3 price categories that determine what risk factors are acceptable – under $900, $900-1399, and $1400 and up. The risk factors that are considered are the number of credit report trade lines that are in a negative status as a percentage of the total, evictions and foreclosures, landlord collections, utility collections, ethical collections (like child support), rental payment history, bankruptcy filings and credit score. Each risk factor is weighted based on it’s relevance related to rent collection (example: an eviction makes you a much higher risk than a utility collection does, therefore it affects your deposit much more than a utility collection would). Your deposit amount is a total consideration of all risk factors. It is the result of inputting them into a proprietary algorithm and is done in a totally objective way that applies to all applicants equally.
Deposit for Holding a Property: We allow new tenants to pay the damage deposit for a rental property to hold it for at least two weeks in all situations, and as long as 30 days in some situations. Please contact us with questions about how long we will hold the property you’re interested in. We have a one page deposit agreement that formally makes this agreement between the two parties. We cannot accept any funds from you until AFTER your application has been approved.
Pet Policy: We accept pets in our rental units, some multifamily units have weight restrictions. Our pet deposit is dependent on the number and weight of your pet(s). If we find you have unauthorized pets in your unit at any time you are subject to immediate eviction for violation of the lease terms.
Due Date: All rents are DUE AND PAYABLE on or before the 1st of each month. They are late on the second, and late fees start to accrue on the second. We encourage our tenants to pay their rent before the 1st to avoid late fees.
Late Fees: Late fees are calculated based on the unpaid balance. The late fee is 1% of the unpaid balance per day it is late. For example: If your rent is $1,000.00 per month, and you paid your rent on the 3rd, your late fee would be $10 per day for two days, for a total of $20.00 late fee. Late fees must be paid immediately. We will not accept rental payments until the late fees are paid in full.