Property Management: Criteria for Renting a Home

There are several categories that are used to determine an acceptable tenant for a property. The review and selection process is NOT a first come first served basis. Each applicant and all individuals over 18 years of age are required to meet ALL criteria individually.

Income Verification:
Each applicant’s income must be greater than or equal to 3 times the monthly rent rate.

Applicants who have experienced mortgage or medical related credit issues, or exceed a 50% debt to income ratio (including rent), MAY be considered with an additional deposit.

Also considered: debt obligations, length of employment, job stability and years in your field of work. A copy of paystubs/LES is required. Self-Employed must provide 2 years Income Tax Returns.

Credit History:
Items reviewed for each applicant and all individuals over 18 years of age are:

⦁ Credit Score 650+

⦁ Payment history. Collections on utilities, cell phones, etc. are a RED flag depending on the length of time since the event and status of current accounts

⦁ Bankruptcy/Short Sale/Foreclosure-length of time since the event and status of accounts after that time are reviewed

Criminal History:
The following may result in automatic denial to the extent allowed by law:

⦁ Judgments/Unlawful Detainers/Criminal Records and Civil Matters for the past 7 years-any of these are an automatic disqualification depending on the length of time since the event
⦁ Any criminal activity of the physical or violent nature
⦁ Any criminal activity including selling or possession with intent to sell drugs
⦁ Any registered sex offender

Additional Reasons for Denial:
⦁ An undisclosed previous rental address
⦁ An incomplete application
⦁ False information and/or omission of a material fact
⦁ Lack of response from an applicant for additional information

Past Residency:
All applicants’ current residence, as well as the past 2 years prior residences are reviewed. The following are example questions that would be asked of a Landlord:

⦁ Do you pay on time? Late payments of rent or NSF checks for rent are an automatic disqualification
⦁ Any 3-Day Notices or Evictions served? These are an automatic disqualification
⦁ Was proper notice given to vacate?
⦁ Any complaints or problems?
⦁ Was the deposit refunded?
⦁ Would they re-rent to the applicant? A NO response is an automatic disqualification
⦁ Any pets? Type and number? Behavior of pets?

Carefully review the pet policy in the ad for the property you are interested in.
⦁ All pets are subject to the approval of the individual Property Owner
⦁ Large dogs or more than one (1) pet are on a case by case basis.
⦁ The Pet Deposit is $800 per pet
⦁ Pit bulls and other breed restricted animals are subject to conditions/restrictions set by a Property Owners’ Insurance company and may not be approved

⦁ Renters Insurance is required. Proof of Renters Insurance will be required prior to occupancy of all properties
⦁ We do not accept comprehensive reusable tenant screening reports as defined by and pursuant to RCW 59.18.257
⦁ All properties under management by The Real Estate Lady are NON-SMOKING homes. This includes all forms of tobacco, E-cigarettes and marijuana. Smoking is prohibited inside of all properties, garages, enclosed outbuildings.

If you meet ALL the criteria for renting a home, please complete the Property Management Pre-Application For Renting a Home here

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