Rental Qualification Standards & Application Guidelines
Thank you for considering Metroplex Homes as you search for a home to rent. After reading these standards and guidelines, please contact us prior to applying should you have any questions.
- APPLICATION GUIDELINES Each person 18 years and older in the household will need to fill out a complete application form. The application will not be considered with missing or false information. If additional adults are going to move into the property they must also be approved and criminal run and application fee paid.
- The application process should take 1 – 2 business days provided all information is complete and references respond in a timely manner.
- Roommates-At least one party on the application must qualify on their own income (at least 3 times the rent) or there must be a co-signer that makes at least 5 times the rent. Under no circumstances can the qualified tenant get removed from the lease without at least one other roommate qualifying on their own or bringing in a qualifying roommate or cosigner.
- A security deposit (one month’s rental amount) may be submitted at the time of application, but will not be deposited until the applicants are accepted. Once accepted this deposit is non-refundable. It must be in verifiable funds (cashier’s check or money order) and turned in within 24 hours of approval. Ordinarily a home will not be held for more than 24 hours. A home will not be held without a rental deposit and signed lease. If tenants are not in 50 miles of our office other arrangements can be made.
- Positive Photo Identification – e.g. driver’s license, military ID, employment ID, green card, passport.
- Gross Monthly Income – Minimum of three times the amount of rent and having been maintained prior to application. (amount of time depends on each individual landlord) Last 4 pay stubs and Proof of earnings from social security, child support, alimony and/or spousal support must be documented. Unverifiable income cannot be considered. Bank statements are not accepted as verifiable income.
- Employment History – at least six months at present place of employment and/or a signed offer letter from employer.
- Self-employed needs to submit last 2 years of tax statements.
- Credit Report – we will pull this information as part of the application process – applicants may not provide their own credit report print out. Extra-ordinary amounts of debt could result in higher income requirements, denial or larger security deposit.
- Positive rental history – with no prior evictions or unlawful detainers filings.
- Criminal history free of felonies or convictions related to drugs, crimes against persons and/or property.
- Pets – Pictures of pets must be submitted. Pets are on property owners’ approval as well as pet deposit. They must also meet city, county and HOA standards. They must be an approved breed with owners’ insurance policy.
EXCEPTIONS TO STANDARDS – “ADVERSE ACTION OPTIONS” Sometimes due to extenuating circumstances, exceptions to one area of the above standards may be considered, often with some “adverse action” being required. For instance, perhaps a loss of job or divorce led to a tough time as seen in the credit report. Before and after these challenging times, the applicant showed good credit and generally qualifies in all other areas. A qualified co-signer or additional deposits may be required, thus allowing a tenant to rent a home which might otherwise not be available to them. Please reveal any information that may not meet standards prior to having us run your application. It is frustrating and expensive for everyone to go through the entire process only to realize that an important standard is not met and no adverse action option can be taken to overcome it.