The Ins And Outs Of The Application Process
Age Requirements
1. A person needs to be 18 years and older to rent a property.
2. All 18 years of age and older who occupy the property must complete and sign a separate application form.
3. Applications will only be deemed completed once all individual 18 years of age and older have completed, signed, and all required documents are submitted.
Identification Requirements
1. All applicants must provide one form of government photo ID. That is, a drivers license, State ID, Military ID, passport,
2. For non-US Citizens the applicant must provide documentation from US Immigration Services to validate legal residency.
Employment Verification
Applicants will be required to provide a letter from their employer verifying employment status.
Income Requirements
All applicants may combine their income to meet the requirement of grossing 3 times the rent.
Proof of income is required by all applicants. Any of the following documents may be requested to verify an applicant's income:
If you are employed, please provide the following proof of income with your application:
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Copies of 2 months worth of your most recent pay stub.
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Copy of most recent year tax return (if applicable and when prompted by management).
If you are self-employed, please provide the following proof of income with your application:
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Copies of 3 months worth of your most recent bank statements.
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Tax returns for the last 2 years to show show predictable income.
*** New employees will need to provide a current offer letter from their employer which incudes employees monthly income.
Other valid sources of income:
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Proof of child / spousal support payments
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Proof of social security income, disability income, or other government income
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Proof of trust fund income
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Financial aid / scholarship documents
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Any other legal source of income that the applicant or co-signer receive
Credit Requirement
An applicants credit score will be verified through a National Credit Bureau. Ridge Property Management seeks Tenants with a 700 score and above. A credit score between 650-699 will be considered with an additional security deposit and / or Co-signer. A credit score of 649 and below will not be considered.
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Bankruptcy: An applicant must have a clear bankruptcy report for at least 3 years prior to the date of application.
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Accounts: If an applicant is delinquent on any accounts your application could be denied.
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Liens/Judgements: If a Tenant has any liens/judgements you application will be denied.
Applicants With No Credit History Or Full Time Students
If the applicant has no credit history or is a Full-Time student, upon fulfilling all other application criteria, the following will be required:
1. Pay an additional deposit equal to one month's market rent.
2. AND, secure a co-signer.
Rental / Residency History
Each rental applicant must be able to demonstrate a pattern of meeting their rental or mortgage obligations.
Applicants are required to include the previous 2 Landlord's contact information: phone number and email address. Your past residency will be verified through the credit report.
Your application may be denied under the following terms:
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Previous evictions on record
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Defaults on lease agreements
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Multiple non-sufficient funds
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Multiple late rental payments
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Outstanding monies owed to the Landlord
Criminal History
A thorough criminal background check will be conducted on each application. Failure to disclose prior convictions, or pending criminal actions on your application will result in denial. A detailed criminal history criterion will be shared with all applicants upon requesting an application form.
Occupancy
1. Maximum of 2 occupants per bedroom. (A bedroom is defined as a space within the premises that is used primarily for sleeping, with at least one window and closet for clothing.)
2. Exception children under the age of two. Children under the age of two are allowed as a third occupant of a bedroom when the child resides with the parent or adult(s) maintaining proper legal custody.
Pet Policy
The Property Owner dictates if pets will be allowed or not- this is visible to all prospective tenants on our property listings. Pets may be denied if they do not receive favorable feedback from a past Landlord(s), or are restricted breeds per property owners' homeowner's insurance company.
Pet Fee: Month non-refundable pet fee will be required per pet.
Security Deposit: Additional refundable security deposit will be required.
Co-Signers
The option for a Co-signer may be offered to Applicants that do not satisfy the Credit Requirements, Income Requirements and / or Residency History.
Requirements of the Co-Signer:
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Must complete and sign a Co-signer Agreement
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Identification Requirement, Income Requirement, and Credit Requirement, will be required by a Co-Signer applicant.
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Co-signers must provide proof of income equivalent to 5.0 times the monthly rent of the property.
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Co-signer will be required to pay a $50 administrative fee.
If the Co Signer application is approved:
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Co-Signer will be held accountable for the lease and other costs incurred on the lease, for example, damages that the occupying tenant neglects to take care of.
Renters Insurance
All lease holders are required to maintain renter's insurance with no less than $100,000 per occurrence. It is the Tenant's responsibility to provide proof of insurance before move-in.
Smoking Policy
NO SMOKING ALLOWED in the home. Smoking is defined as the use of cigarettes, e-cigarettes, vaping and any other forms of smoking.
Tenant Placement Fee
Approved applicant(s) will be charged a placement fee per property, 10% of first full month's market rent.
This fee covers:
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The cost associated with a background, criminal and an eviction report for each adult 18 years and older
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Contacting references
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Administration fee--- setting up tenant account
The following may result in immediate denial of an application:
1. False, incorrect, or misleading information.
2. Threatening or abusive behavior towards a Ridge Property Management employee.
Additional Information
1. Additional security deposit is equal to one full month's market rent.
2. If you are an international transferee with limited to no US credit history, or if you are an international student an additional deposit (3 times the regular deposit) is required to rent our property.