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Rental Qualifications

Thank you for considering Alpha Property Management as your next Landlord. The following minimum qualifying criteria has been established for approving applicants for residency at individual properties managed by Alpha Property Management. This criteria applies to any applicant 18 years or older who wishes to reside at the property. If negative information of any kind is found during the application process, the applicant may be subject to denial or may qualify with a cosigner or additional security deposit. You will be notified by mail if you have been denied, we will contact you at your daytime phone number when you are approved.

An approved application does not guarantee you any property; it will only determine your eligibility to rent the property you have applied for. Our standard security deposit is equal to one month’s rent, and may be increased for poor credit, bankruptcy, lack of rental history, short time on job, and pets. The following policies and procedures have been established to ensure all applicants are treated fairly and equally.

Applicants, to process an application, we need the following:

  • Each person 18 years old and older must complete and sign an application; no exceptions.
  • Each person must provide a copy of a valid Government issued picture ID (Driver’s license, State ID Card, Passport, etc.)
  • Copy of Social Security Card
  • Verification of income (last two pay stubs, Tax return, letter of award, etc.)
  • If a cosigner is needed or required, all of the same requirements apply, and the cosigner is also subject to denial if not qualified.
  • To be processed, a $35.00 non-refundable application fee must accompany each application.
  • All application processing fees must be paid by cashier’s check, credit card, or money order; no personal checks.
  • Any application with missing, false, inaccurate or misleading information is grounds for denial.
  • Applicants with less than 3 years tenancy or home ownership, or less than 3 years continuous employment may be required to pay an additional increased security deposit and/or provide a cosigner.

Credit:

  • Credit reports will be obtained from one or all three credit reporting agencies’.
  • We are looking for good credit. We understand sometimes bad things happen to good people so we also look at the whole picture before making a decision.
  • If your credit report contains judgments, collections, slow pays and generally bad credit, denial or acceptance is strictly at the discretion of the owner or property management.
  • Application will not be considered if applicant has filed for bankruptcy and it has not been discharged. Proof of discharge will be required.
  • Credit applications supplied by the applicant will not be considered.
  • Judgments or collections from or for a property management company or owner of rental property may be grounds for denial.
  • Any eviction that appears on your public record can be grounds for denial.
  • You may however request a copy of your credit report and come into our office to pick it up.

Income and Employment:

  • All income and employment listed must be verifiable and legitimate.
  • Income must be 2.5 to 3 times the rent amount of the property you are applying for.
  • Provide two current and consecutive pay check stubs with year to date total.
  • Self-employed applicants must provide a copy of their most recent tax return and a copy of the last three month’s bank statements.
  • If you are relying on other sources for income, such as social security, pension, retirement, child support, public assistance, etc., you will need to provide documentation for these at the time you submit your application.

Rental I Landlord history:

  • Applicants must provide positive landlord references from a non-family source for at least the previous 3 years. If you are unable to fulfill this requirement, your application may be denied or you may be required to provide an additional deposit or a cosigned.
  • Applicants with an Unlawful Detainer / Eviction on record within the last 5 years will be grounds for denial
  • A record of late payments or returned checks may result in the application being denied.
  • Unpaid rent, past due rent, property damage, a record of disturbances from a previous landlord may result in an application being denied.
  • All applicants must have satisfactorily completed their existing rental contract.
  • A 30 day notice to vacate must have been presented to your current landlord.

The acceptance or denial of an application is at the sole discretion of Alpha Property Management and/or the property owner. The Management and Staff of Alpha Property Management abide by the strict guidelines of Fair Housing.