INCOME
- Your gross annual income (income before taxes) should be at least 39 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 $39,000/ 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.
- 12 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 “CAR ” 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 $350.00 will be needed in addition to a security deposit. If your deposit is already doubled, instead of paying $350.00 in addition to your Security Deposit at the time of move-in, you will be required to pay an additional $25.00 per month in addition to your monthly rent.
FAIR HOUSING POLICY