Application Criteria

 

 

 

Leasing Application Standards

 

Real Property Solutions of Ohio, LLC with Keller Williams Premier Realty is committed to adhering to all the terms and conditions pertaining to the Ohio Fair Housing Law which states:

"It is illegal, pursuant to the Ohio Fair Housing Law, division (H) of Section 4112.02 of the Revised Code and the Federal Fair Housing Law, 42 U.S.C.A. 3601, to refuse to sell, transfer, assign, rent, lease, sublease or finance housing accommodations, refuse to negotiate for the sale or rental of housing accommodations, or otherwise deny or make unavailable housing accommodations because of race, color, religion, sex, familial status as defined in Section 4112.01 of the Revised Code, ancestry, military status as defined by that section, disability as defined in that section, or national origin or to so discriminate in advertising the sale or rental of housing, in the financing of housing, or in the provision of real estate brokerage services. It is also illegal, for profit, to induce or attempt to induce a person to sell or rent a dwelling by representations regarding the entry into the neighborhood of a person or persons belonging to one of the protected classes."

With that being said we must follow our leasing standards cautiously and consistently. The following conditions are required of every prospective resident:

Occupancy

All occupants that will be living in the home shall be named on the lease. All occupants over the age of 18 must submit an application and must meet all criteria specified in the leasing standards listed below. The maximum allowable occupants per unit is 2 individuals per bedroom unless otherwise noted.

Credit Worthiness

A full credit history report will be reviewed and your application may be declined due to delinquent payment history, negative public records, unpaid collections, repossessions, etc. Below is a general list of items that are considered automatic disqualifiers:

  •      Multiple evictions. Single evictions may be acceptable upon satisfactory explanation and proof that no balance is owed or that you are currently making payments to cure.
  •      A bankruptcy that is not discharged unless a written letter from the trustee is presented showing that we cannot be named as a creditor
  •      Presently delinquent with current creditors as shown on credit report
  •      Any outstanding utility collections for utilities that service the unit being applied for
  •      Credit scores below 525 may be subject to pay last month's rent in advance

The absence of a credit file is not an automatic disqualifier. However, the applicant may be asked to either pay the last month's rent in advance and/or provide a lease guarantor. A lease guarantor must exhibit credit worthiness as stated above and have the ability to satisfy the rental obligation (as noted in the "income" section below) in the event of a default.

Income qualifications

The applicable monthly rent must not exceed 30% of the total verifiable household income. All applicants must provide written proof that substantiates their income. Examples include a recent paystub, W-2, award letter or most recent years signed tax return. Commissioned/Bonus income must be calculated on a 2-year average. Self employed income must be in business for at least one full year and verified by a tax return and current Profit & Loss. Proof will also include a written Verification of Employment from employers. Guarantors must be able to demonstrate a 30% housing ratio (which means their currently mortgage/rent payment plus the property rent payment they are guaranteeing).

Rental History

Any negative rental history can disqualify a prospective resident’s application. In the event that an application is to be declined due to marginal negative rental history, a lease guarantor and/or a higher security deposit may be required. Negative rental history is described as including, but not limited to the following:

  •     Any breach/default of a leasing agreement unless applicant can provide proof of documented negligence on the part of their former landlord/management company. Breach of a lease is defined as any monetary or non-monetary violation of the          lease agreement.
  •     Any late payments in the past 12 months, NSF checks and/or any rental related debt that remains outstanding, including payment agreements or judgments.

If you are related to one of your previous landlords, by blood or marriage, or your rental history does not include at least 12 months, or you previously rented from a private owner and cannot prove your rental payment history, rather than disqualify we may require a qualified lease guarantor or last month's rent in advance assuming you meet all other qualifications.

Criminal History

The rental application will be declined if in the last 10 years, you have had a conviction for any type of crime that would be considered a serious threat to rental property or to other residents' peaceful enjoyment of the premises. Negative background checks are described as including, but not limited to, any convictions for murder, manslaughter, drug possession and/or trafficking, theft or burglary, robbery, domestic violence, arson, aggravated assault, felonious weapon/gun charges or rape or patterns of continuous crime such as (but not limited to) multiple drug possession charges or ovi/dui charges.

Tier II and Tier III Sexual Offenders are automatically disqualified. Tier I offenders are acceptable subject to the 10-year restriction noted above.

Miscellaneous

1.      Each adult (18 years or older) that will be residing at the premises will be required to complete a full application and submit the required application fee. If not completed in its entirety, the application is subject to being returned and the application withdrawn.

2.      Valid (drivers license or other government issued ID) photo identification must be presented at the time of application.

3.      A $100 holding fee is required at the time of application. If your application is declined, the holding fee will be refunded. However, once your application is approved the holding fee becomes non-refundable and balance of full security deposit is due within 48 hours of acceptance or risk application withdrawal, holding fee forfeiture and denial of property. The security deposit will vary from property to property. If you fail to enter into a lease agreement after your application has been approved and deposit collected, your security deposit will be forfeited to landlord as damages for lost marketing time.

4.      Individual properties have different pet policies. It is the prospective resident’s responsibility to inquire about our pet policy for the unit you are applying for prior to making application.

5.      The application fee is $40 per applicant and is non-refundable. We reserve the right to hold application until personal checks clear our accounts. Therefore, cash or certified funds are strongly encouraged.

6.      We will accept the first qualified applicant. Our policy is to screen applicants in the order in which they are received in the office. In no instance will a second applicant be screened prior to making a decision on the first applicant unless the first application is incomplete, or application fee is not paid, or payment cleared.

7.      Providing false information is cause for application denial. Any misrepresentation is grounds for automatic denial and forfeiture of application fees. If the misrepresentation is found after the lease agreement is executed, your lease agreement is subject to termination and security deposits forfeited as damages.

8.      If a residence allows Section 8, the tenant must still fulfill all required leasing standards except for income and rental payment history.

C:\Users\Kevin\Documents\COFFEY TEAM - FILE\RPS, LLC\RPS Logo\RPS blue.jpg

Rev 12.19.19

 

 

contact us

Keller Williams Premier Realty

3111 Columbus Street

Grove City, Ohio 43123

Telephone: (614) 300-2900

Email: Rentals@RPSofOhio.com