Tenant's Guide to Renting a Home

A: You will need to submit a fully completed application form, a copy of a valid government-issued photo ID (such as a driver's license or passport), proof of income (like recent pay stubs, tax returns, or bank statements), and a non-refundable application fee. 

A: Your credit history is checked to assess your financial reliability and past payment behavior. A minimum credit score of 600 is generally required for standard approval conditions. 

 A: The criminal background check focuses on convictions, particularly those that pose a threat to property safety and community welfare. Arrests without convictions are not typically considered. Disclosure of any criminal history is encouraged to allow for a fair assessment. 

 A: Applicants need to provide proof of income that shows a gross monthly income of at least three times the monthly rent. Acceptable documentation includes recent pay stubs, employer payroll reports, proof of government income, or official documents verifying personal income. 

A: Self-employed applicants or those with non-traditional income must provide the previous year's tax return and, depending on the time of the year, current financial statements. For irregular income, documentation covering a longer period may be required to establish consistency.

A: Grounds for disqualification may include a history of evictions, outstanding debts to previous landlords, significant negative marks on your credit report, or a criminal record that includes violent or drug-related offenses. 

A: If your application is denied based on credit history, you will be provided with an adverse action notice that includes the contact information for the credit reporting agency that supplied the report, allowing you to address any inaccuracies. 

A: Income can be combined if tenants file a joint tax return or both have credit scores of 600 and above. For scores between 500-600, combining income may lead to an increased deposit, calculated on a weighted average basis. 

A: Deposit increases can range from an additional half month’s rent to three months of rent, depending on the severity of the adverse information found. 

A:  Sometimes, guarantors (co-signers for some) are permitted. Any non-occupying applicants will be considered leaseholders and are subject to all guidelines, including the debt-to-income ratio. 

A: Yes, proof of a minimum $100,000 personal liability insurance policy is required before move-in and must remain in effect throughout the lease term. The policy should list the landlord or property management as an interested party. 

 A: Lease takeovers are subject to landlord or property management approval. Typically, the new tenant must meet all rental criteria and agree to the lease terms. 

 A: Rent is typically due on the 1st of each month, but check your lease agreement for specific details. A grace period may apply. 

 A: Typically, the landlord covers HOA dues. However, tenants must comply with all HOA rules and regulations.