Frequently Asked Questions Tenants

HOW TO APPLY
Please print the application and fax to 301-313-0001. The $40.00 application fee can be paid on line. We must have your COMPLETED application, and your processing fees before processing can begin. If there is more than one adult applying 18 yrs. or over please submit $40.00 payment for all. Once we process your application, there are NO REFUNDS.

APPLICATION

  • IN-COMPLETED applications will not be processed.
  • Two forms of identification (Driver’s license, passport, social security card, birth certificate, etc.)
  • Two most current pay stubs.
  • Proof of any supplemental income (disability, child support, social security, etc.).

APPLICANTS

  • Each person 18 years of age and older must complete and sign an application.

FEES

  • A $40.00 non-refundable processing fee (per applicant) is required.
  • Applications will not be accepted without the required fees.

QUALIFICATION GUIDELINE REQUIREMENTS:

INCOME

  • Your gross annual income (income before taxes) should be at least 36 times the monthly rent. If you do not have the required income, you will either need a co-signer or be able to show substantial liquid assets. For example: if the rent is $1,000 you must earn $36,000/ year to qualify.
  • You must provide written verification of your income by submitting a copy of your most recent pay-stubs, however we reserve the right to request last year’s W-2 or a letter from your employer verifying your position and income. If self-employed, you must submit a copy of the first page of your previous year income tax returns.
  • If a co-signer is necessary, the co-signer must also complete and sign an application, provide income verification of income, and provide an additional $40 application fee. The co-signers gross annual income must be at least 78 times the monthly rent and they must also have a satisfactory credit history

DEBT

  • The total amount of your monthly debt (credit card payments, car loans, etc.) plus the monthly rent should not exceed 36% of your gross annual income.

CREDIT HISTORY

  • All applicants must have satisfactory credit history.
  • Chances Are Realty Property Management will obtain a credit report on all applicants.
  • Reports supplied by applicants will not be accepted. Credit reports obtained by Factual Data will not be provided to tenants.
  • Your credit report must show any defaults, late payments, outstanding judgments or collection items.
  • Co-Signers are not permitted for applicants with bad credit.
  • Applicants with a past Bankruptcy will only be considered if the bankruptcy has been discharged for at least one year and no derogatory credit is currently on the report.

RENTAL HISTORY

  • You must have a satisfactory rental history.
  • 10 month of on time payments within the past year.
  • Chances Are Realty Property Management will conduct a nationwide check of Landlord/ Tenant Court Records to see if your current or previous landlord has ever filed claims against you.

Some owners have elected to participate in our Second Chance Program. You may qualify if conditions of your challenged credit meets our guidelines.
WITH THIS PROGRAM AND AUTOMATIC DOUBLE SECURITY DEPOSIT WILL BE NEEDED TO MOVE IN.

SECURITY DEPOSITS:
Security deposits are always equal to the first month’s rent. In some instances a double security deposit will be needed. For the properties that allow pets, an additional deposit of $500.00 will be needed in addition to a security deposit. If your deposit is already doubled, instead of paying $500.00 in addition to your Security Deposit at the time of move-in, you will be required to pay an additional $50.00 per month in addition to your monthly rent.

FAIR HOUSING POLICY
Chances Are Realty WILL NOT DISCRIMINATE.
Chances Are Realty firmly believes that choosing a home directly impacts the hopes, dreams, aspirations, and economic destiny of those involved. It is for this reason that Chances Are Realty, is committed to the letter and spirit of the Federal Fair Housing Act, and all other Federal and State laws enacted to guarantee a housing market free from discrimination.