Posted July 22, 2020 | by Superior Property Rental
SuperiorPropertyRental.com, LLC ("Superior Property Rental") strives to maintain the highest of standards in Applicant selection for its properties. The following criteria have been standardized as a part of the selection process. All applicants 18 years and older must complete an application packet and be listed on the lease agreement as a responsible party.
If the application(s) are approved, applicant(s) have thirty (60) days to execute a lease agreement, after which time a new application may be necessary. Leases will only be executed with a submitted application, ID's, financials, approved credit/background, and 100% of projected security deposit is paid. All properties are on a "first come, first serve"basis to applicants who are able to execute a lease. No property will be held for any length of time until all deposits have been paid and the lease is signed. If application is processed and the background check results in material issues that were not disclosed in the application, applicant will be rejected and forfeit application fee. The Lease Agreement and accompanying documents are available for Applicant to review, upon request, once the application is approved. Move in must be scheduled within seven (7) days after receipt of 100% of all deposits or within seven (7) days of the posted/final available date, whichever is later.
Applicant must provide proof of gross 3x monthly rent in combined income to be considered for lease. Acceptable forms are official company issued paycheck stubs, verifiable job offer on company letterhead, or verifiable affidavit of salary on company letterhead. Self-employed applicants must supply the previous year's tax returns for proof of income. Company taxes must be accompanied with official proof of ownership (i.e. from licensed accountant, a business license, or copies of 1099 income statements), and Relocating applicants must provide verifiable documentation of employment and income within 50 miles of residence. Unemployed/Retired/Student applicants may supply the previous year's tax returns for proof of income, proof of student loans scheduled for disbursement during the lease term, statement of SSI, pension, or other retirement disbursements.
Applicant(s) must have an average credit score of 540 or above to be considered for lease. Credit scoring for security deposits criteria:
· Scores of 660 and above will pay a security deposit equal to $100 more than one month's rental amount.
· Scores of 620 to 659 will pay a security deposit equal to 125% of one month's rental amount.
· Scores of 580 to 619 will pay a security deposit equal to 150% of one month's rental amount.
· Scores of 579 to 540 will pay a security deposit equal to 200% of one month's rental amount.
If applicant does not meet any of these guidelines, and Superior Property Rental deems applicant as trustworthy and able to make payments, the applicant may opt to have a co-applicant/co-signer execute the lease agreement jointly. Full credit and background check will be performed on co-applicant/co-signer, who must meet the criteria, in which case the security deposit would be to the criteria above along with a non-refundable fee of $150 per co-applicant/cosigner. Co-signer will be held responsible for the terms of the lease and any subsequent renewals for any rents, damages, additional charges and fees.
Unused security deposits will be refunded to all occupants within thirty (30) days after any lease agreement termination and/or submission of a forwarding address. Security deposit could be returned to another party, only after all parties on lease agreement present in writing to Superior Property Rental the name of applicable party. In the event roommate(s) moves out and at least one remains an occupant, security deposits will not be refunded until all occupants move.
Superior Property Rental will not lease to past sex offenders, or felons as listed in this criteria. A criminal background check will be conducted for each applicant. We do not accept co-signers or payment of lease value in full in lieu of fulfilling criminal history criteria.
· A conviction, guilty plea or no-contest plea, at any time for: any felony involving serious injury, kidnapping, death, domestic terrorism, arson, rape, sex crimes and/or child crimes, extensive property damage or drug-related offenses (sale, manufacture, delivery, or possession with intent to sell) Class A/Felony burglary robbery; or
· A conviction, guilty plea or no-contest plea, where the date of disposition, release or parole have occurred for: any other felony charges; or
· A conviction, guilty plea or no-contest plea, where the date of disposition, release or parole have occurred for: any misdemeanor or gross misdemeanor involving assault, intimidation, sex related, drug related (Sale, manufacture, delivery or possession) property damage or weapons charges; or
· A conviction, guilty plea or no-contest plea, where the date of disposition, release or parole have occurred for: any Class B or C misdemeanor in the above categories, or for misdemeanors involving Criminal Trespass I, theft, dishonesty or prostitution shall be grounds for denial of the rental application.
· Pending charges or outstanding warrants for any of the above will result in a suspension of the application process until charges are resolved. Upon resolution satisfactory to Superior Property Rental, if an appropriate unit is still available, the processing of the application will be completed. No property will be held awaiting resolution of pending charges.
Second Chance Program
If applicant(s) does not meet any one of these guidelines, Superior Property Rental may offer the a chance at the Second Chance Program. Applicant may put down the highest applicable security deposit plus a $500 non-refundable second fee per person, assuming their combined gross monthly income exceeds 3x monthly rent. Applicants that have an average score below 539 or have no credit, and if offered, will pay a security deposit equal to 200% of one month's rental amount plus a $500 non-refundable second chance fee (i.e. 2 individuals apply, one has 750 credit and other has no credit. Security Deposit amount would be 200% one month's rental amount plus $500 non-refundable second chance fee).
Applicant shall not be in personal or business bankruptcy, nor shall be contemplating such bankruptcy to be considered for lease. If applicant is currently in bankruptcy proceedings, Superior Property Rental may consider to waive these criteria with the highest applicable security deposit plus a $499 non-refundable non-qualifying fee, as well as a letter from applicants'attorney stating they will not add Superior Property Rental as an additional creditor in this or future bankruptcy proceedings.
Applicant shall not have pets generally or legally considered to be a vicious breed. Notwithstanding previous, Superior Property Rental reserves the right to not rent to tenants with pets, or limit number of pets. Applicants are required to go to PetScreening.com to apply for pet(s) and/or assisted animal(s). Animal owners will be required to register their pet/assistant animal with Superior Property Rental, by providing copies of any applicable city license, vaccinations, photo, list the name, breed, age, and color of animal. Superior Property Rental will no longer accept any pet/assisted animal without completing the process with PetScreening.com. Be sure to note that Superior Property Rental is your landlord to be linked to our account. Follow the same link to complete a "No Pet or Animal" application and if you are caught with an unregistered animal, you will be imposed a $1,500.00 fine. Pet owners will be required to pay for some or all of the following:
· Pet Deposit for dogs is $600.00 (partially refundable based on condition of premises) per dog with a limit of 2 dogs per household and for cats is $1,000.00 (partially refundable based on condition of premises) per cat with a limit of 1 cat per household.
· A onetime $200.00 (non-refundable fee) per pet will be assessed at the completion of the lease.
· A monthly non-refundable fee of $60.00 per month per pet.
· Caged/aquarium pets: $100 non-refundable fee and $200 (refundable based on condition of premises) deposit per cage/aquarium.
· All Pet Deposits are allocated as an additional deposit and as such could be used for other fees or charges upon move-out.
If applicant has been involved in eviction in the previous 12 months; Superior Property Rental may refuse to lease property to applicant, or may require 2x any applicable security deposit.
Applicant understands that more than two (2) parties, over the age of 18, constitute a roommate classification. Roommates security deposit will be equal to 200% of one month's rental amount plus a $500 non-refundable roommate fee per person above 3 (i.e. 3 tenants pay $500, 4 tenants pay $1,000, 5 tenants pay $1,500, etc.). Dwellings have a regular occupancy of two (2) persons per bedroom and units are based for maximum occupancy based on these criteria. Rooms not designated as a bedroom may not be used for sleeping. If a family has children that exceed this occupancy there will be a $200 per occupant above the maximum added to security deposit (i.e. a family of 10 applies for a 3-bedroom unit, they will have $800 added to the security deposit.) "Families" are the only authorized occupants to go over the criteria for maximum occupancy.
All properties leased by Superior Property Rental prohibit smoking and may result in rejecting your application(s). Tenants are prohibited from burning incents or candles. If you are caught smoking, vaping, burning incents or candles inside any unit, you will be imposed a $2,000 fine and subject to eviction.
Superior Property Rental REQUIRES ALL tenants to have/carry renter's insurance (HO4 policy). NEW tenants with pets/animals are REQUIRED to obtain an ePremium policy with a pet endorsement, unless your HO4 policy covers animals, which helps cover potential major damage from your furry friends. ePremium links: Purchase or Third Party
Lease Initiation Fee
Once all applicants have been approved and paid all required security deposits and fees, applicant will be transferred to a tenant and a $75 Lease Initiation Fee is required to have the lease drafted for signing and to move in.
Superior Property Rental will not base any decision criteria on factors including Sex, Familial Status, Race, Religion, Creed, National Origin, or Disability. State and/or local laws may include additional classes, which are protected from discrimination in housing. Applicants could be rejected for reasons of insufficient income, criminal history, insufficient credit history, smokers, and/or incomplete information, including, but not limited to application, pet application, assistant animal application, proof of income information, proof of personal identification and eviction or rental history. Additional application fees may apply based on background requests as determined by Western Reporting in their initial search and approved by SuperiorPropertyRental in its sole discretion.
Applications will not be processed until receipt of all requested information. Follow link: PetScreening.com to submit your pet, assistant animal, or no pets or animals application(s). Superior Property Rental will no longer accept ACH payments for applications, if a payment of this fashion is received you will be contacted to pay in the form of a credit card, asked to come in and pay with cash/certified funds or the application will not be processed for a minimum of 10 days. If you submit information for a Tenant Web Access account and you do not complete the online application your account will be deleted after 24 hours without any contact.