Please note that nothing contained in these requirements shall constitute a guarantee or representation by us that all residents and occupants currently residing in the homes we manage have met these requirements. There may be residents and occupants that have resided in the community prior to these requirements going into effect; additionally, our ability to verify whether these requirements have been met is limited to the information we receive from the various resident credit reporting services used. It is the policy of this company to comply with all applicable fair housing laws including those which prohibit discrimination against any person based on race, sex, religion, color, familial status, national origin, or handicap.
- Application Process
Each application must be completed, signed, and paid for before processing. Applications are processed in the order in which they are received. Additional applications will continue to be accepted until the approved applicant has signed the lease and paid the security deposit. As a representative of the property owner, we must act in their best interests and we will choose the best application if more than one person has applied. Processing will normally be completed within 24 hours; however, it can take longer if a complication arises such as difficulties verifying your previous rental history. A copy of the applicant’s driver’s license or other federally issued ID is required and will become part of the completed application. All information on the application is subject to verification. Applications will be denied if falsified. Once approved, each applicant must sign the lease and be fully responsible for all obligations under the lease agreement.
Under certain circumstances, if application is denied, an approved co-signer may substitute their application, sign the lease, and accept full financial responsibility along with the applicant. In lieu of a co-signer, and at the discretion of The Property Society, LLC, the applicant may pay an additional security deposit equal to the maximum the law will allow. Guideline requirements may be waived if applicant pre-pays rent for the full term of the lease.
- Age Requirements
Each lease holder must complete a separate application and submit the nonrefundable application fee of $50.
- Rental History
Within the past 18 months, applicant must have good rental references for at least one year, unless applicant has just sold their home. Relatives are not acceptable as rental references. Application may be denied for evictions, damages beyond normal wear and tear, illegal activity on premises, refusal to re-rent by previous landlord, or a balance still owed to previous landlord.
Application may be denied unless rent is no more than 40% of verifiable household income. To be considered as income, applicant must provide verification of pay stubs, social security income, alimony, or child support. Unemployment payments are not considered income.
Applicant must have a minimum of one year employment history in the same field of work. Applicant must be currently employed. Recently graduated college students may qualify if a job is secured. Current university students may be accepted with verifiable income or a letter of guarantee from parents or legal guardians.
Self-Employment, Retired, or Unemployed – Such applicants must provide the previous year’s income tax return and the previous two months’ bank statements, or 12 months of financial statements, and must exhibit only favorable references.
Guarantors – Guarantors will be accepted for applicants who are first-time renters or students. For guarantor-supported applications, an additional application deposit will be required. The deposit level will be based on the credit analysis. The guarantor will be required to complete an application and pay a full application fee. Guarantors must have a gross monthly income of five times the monthly rent and meet all other qualifying criteria identified in this screening policy. The guarantor will be asked to sign a lease guaranty agreement to support this application. Only a relative or employer will be considered as guarantors.
A credit report will be completed on all applicants to verify account credit ratings. Income plus verified credit history will be entered into a credit scoring model to determine rental eligibility and security deposit levels. Unfavorable accounts that will negatively influence this score include, but are not limited to, collections, charge-off, repossession, and current or recent judgments.
- Background Application
A criminal record verification is made on all persons over the age of 18 who will occupy the property. Cause for the application to be rejected includes conviction of illegal drug or gang involvement of any kind, any violent act against another person, vandalism or arson, burglary, criminal trespass, or stalking.
- Occupancy Standards
Two people per bedroom. A family may occupy an apartment if the family does not exceed two persons per bedroom plus an infant child.
- Pet Policy
The Property Society, LLC, does not allow the following aggressive breeds of dogs to be on the property at any time: Pit Bulls, Rottweilers, Chow Chows, Doberman Pinschers, German Shepherds, American Staffordshire Terriers, Boxers, and Great Danes. All other dogs are subject to approval.
If the property owner agrees to allow a pet, applicant will pay a nonrefundable fee (usually $150). Cats must be spayed or neutered and declawed. No puppies or kittens are allowed.
Exotic animals such as reptiles, birds, and rodents, and poisonous animals such as tarantulas, insects, and poisonous fish are not allowed.
- Application/Security Deposit
The application deposit is due in full and is required upon submitting the application for approval. Once the application has been approved, the application deposit then becomes the security deposit. The deposit amount varies from property to property and must be paid in advance and must be paid by certified funds (money order, cashier’s check, or certified check). A personal check will only be accepted with a bank guarantee card and verification from the bank of sufficient funds.
- Property Condition
We have a higher than normal standard in the preparation of our rental units, but our standards may or may not be equivalent to your standards. If you see something that you do not like, or something that you would like to be improved, please make your request during the application process, and we will gladly present it to the property owner for approval. If the property owner grants our request, the modification will be made prior to you taking occupancy or otherwise annotated on the rental agreement.
Please email us at firstname.lastname@example.org or contact us at (512) 282-7393 to schedule an appointment. We will gladly work around your schedule. For the safety of our staff, no showings will be made after dark.
- Lease Signing
Once you are approved, the application deposit becomes your security deposit. You will be notified by phone and a lease-signing appointment will be scheduled. All adults must sign the lease. One full month’s rent is due before moving into the property. If you move in during the middle of the month, your second full month will be discounted by the prorated amount.
The Property Society, LLC, sets rents based on current market conditions and instructions from the property owner. If our competition has a comparable rental for less, please let our leasing agent know. We will do everything we can to match or beat it.
- Equal Housing Opportunity
The Property Society, LLC, conducts business in accordance with the Federal Fair Housing Law (Title VIII of the Civil Rights Act of 1968, as Amended by the Fair Housing Community Development Act of 1974). It is illegal to discriminate against any person because of race, age, color, religion, sex, national origin, sexual orientation, handicap, or familial status or status as a student.
The Property Society, LLC, is the exclusive agent and representative of the property owner and does not, in any respect, have any fiduciary or agency responsibilities to the applicant. All federal, state, and local laws are followed and each application is processed without regard to the race, color, religion, sex, handicap, familial status, or national origin of applicant. Our staff of professionals are regularly trained and educated on the latest local, state, and federal statutes pertaining to rental regulations.
- Online Application
Each co-resident and each occupant over 18 must submit a separate application. Spouses may submit a joint application.