Rental Qualification Requirements
Completed Rental Application+
Serrus Real Estate and Property Management, LLC (SPM) Rental Application is required from EACH applicant over 18 years of age who will be residing in the property. Serrus Real Estate and Property Management, LLC “Rental Application” form must be completed in its entirety, be signed by the Applicant (s), and be submitted with a $50 application fee paid in certified funds, money order, cashier’s check, or online via credit card made payable to Serrus Real Estate and Property Management, LLC. Property management staff will not process incomplete application(s), nor will the Applicant be considered for the available property. The property will remain on the market.
Serrus Real Estate and Property Management, LLC does not rent properties “sight unseen” and requires EACH Applicant over 18 years of age, who will be residing in the property, to personally view the property prior to submitting an Application for said property. Applicants who have not viewed the property prior to submitting an application will not be considered for the available property by Serrus Real Estate and Property Management, LLC.
Rental Policy Agreement+
Serrus Real Estate and Property Management, LLC “Rental Policy Agreement” is required to be read and initialed by EACH Applicant over 18 years of age who will be residing in the property. By initialing the “Rental Policy Agreement” the Applicant is acknowledging having read the Rental Policy Agreement and is agreeing to abide by Serrus Real Estate and Property Management, LLC rental policies, procedures, and the terms set forth therein.
An earnest deposit equal to the listed monthly rental rate, unless a higher deposit is agreed upon, is required once the Applicant/Applicants have been approved. Applicant understands that once the application has been approved, an earnest money deposit is required for taking the property off the market. It will be deposited in the Serrus Real Estate and Property Management, LLC Trust Account. Said deposit will be NON-REFUNDABLE if the Applicant fails to take occupancy on the date specified or decided that he/she no longer wants the property. Cashier’s check, money order or cash is required for payment of the deposit(s) and the first month’s rent.
Applicant understands that when the earnest money deposit has been received the rental agreement must be fully executed and the property will be taken off the rental market and reserved for the Applicant for no longer than 14 days. At this point, other potential Applicant(s) will be turned away.
Applicant understands that submitting an Application does not take the home off the market. We process the applications in a first come first qualified basis and do so without haste. If we are unable to verify any of the information contained on the “Rental Application”, it will delay the whole process and someone else might get the home instead.
Credit Check/Background Check/Processing Fee And Verification Policy+
Please be advised that Serrus Real Estate and Property Management, LLC will obtain, on behalf of the owner, a credit and criminal report for EACH Applicant over 18 years of age who will be residing in the property. By signing the “Rental Application” form and “Rental Policy Agreement”, the Applicant authorizes Serrus Real Estate and Property Management, LLC and/or agent(s) to obtain credit and criminal report(s), to contact Applicant’s present and previous employer(s), bank(s), personal reference(s) and Applicant’s presents and previous landlord(s).
Applicant agrees to reimburse Serrus Real Estate and Property Management, LLC for any and all bank charges, or any fees incurred due to the payment on a cashier’s check or money order being intentionally stopped or returned due to insufficient funds.
Serrus Real Estate and Property Management, LLC uses Rentscreener/Transunion, an outside vendor for the processing of all application packages. Generally, during normal business hours, the credit report is obtained within one (1) hour after processing has begun. The lengthiest part of the application process is reference verification, so, if Applicant knows that one or more of their references may be difficult to contact, please let Serrus Real Estate and Property Management, LLC know in advance or perhaps provide alternate contacts telephone numbers.
Additionally, if there is anything negative on the Applicant’s credit history or if Applicant’s employer, present, and or/previous landlord(s) would not recommend the Applicant as a resident, then, please provide a detailed explanation with the completed application package.
Serrus Real Estate and Property Management, LLC requires a payment of $50.00 per Applicant over the age of 18, which is to be used to screen Applicant’s with respect to credit history and other background information and to off-set a portion of the costs associated with the processing of the Applicant’s application.
Rental Qualification Standards+
Serrus Real Estate and Property Management, LLC reviews four (4) areas of the completed Application Package during the qualification process – Credit History, Criminal History, Rental/Ownership History and Income Level.
To qualify for the available property with Serrus Real Estate and Property Management, LLC, Applicant must have a minimum of: Two (2) years established credit history in acceptable standing (preferred), Verifiable references from present and previous landlord (if applicable) and Gross income of approximately (3) three times the monthly rent amount.
Married couples and related residents over 18 may combine income. All non-related persons must qualify individually. We must be able to verify employment history. If you are self-employed, we will need tax returns for the last 2 years or verification of income or 6 months of bank statements.
When an employment reference or department does not verify employment or salary earnings proof of employment may be established by providing the last two (2) consecutive pay stubs. If you are combining incomes to qualify, please provide a source of income for each Applicant.
Proof of income may be established by providing a copy of the offer letter of employment from the Applicant’s new company or by providing bank statements with balances equivalent or greater than the gross income requirement listed above.
If the Applicant does not meet the above qualifications standards, in some cases, the following cures may be used at the sole discretion of Homeowner (with owner’s written consent) only.
Guarantors/Co-signers, in some cases, may be used to cure negative credit, insufficient gross monthly income (within $1,000.00) of required amount), little or no rental history, or lack of stable income for six (6) months or longer.
A Higher Security Deposit of no more than 2 times the rental amount, in some cases, may be used to cure negative credit, insufficient gross monthly income (within $1,000.00 of required amount), little or no rental history, or lack of stable income for six (6) months or longer.
If the Applicant knows they have something derogatory in their application package, please be prepared to pay a higher security deposit or provide a guarantor. Applicant(s) should not submit an application unless they are certain they want the property.
Bankruptcy, Evictions, Judgements and The Like+
Bankruptcy- may be cured with a guarantor or higher security deposit if the bankruptcy has been discharged or has occurred at least seven (7) years ago and all current obligations have been paid in a timely manner.
Eviction – Applicant may not qualify for a property with Serrus Real Estate and Property Management, LLC if they have ever been evicted; Evictions will be reviewed on a case-by-case basis and will only qualify with owner’s written consent.
Guarantor Qualification Policy+
To qualify as a Guarantor for an Applicant with Serrus Real Estate and Property Management, LLC, Guarantor must have five (5) years of excellent to good credit history. Guarantor will not qualify as a Guarantor with a negative credit history. Additionally, Guarantor must have at least five times (5X’s) the monthly rental rate in verifiable gross income. All income must be verifiable and must have been stable for at least six (6) months or longer.
First Month’s Rent Policy+
The first (1st) full month’s rent will be due and payable at move in. Payment for the first (1st) month’s rent must be paid by certified funds, made payable to Serrus Real Estate and Property Management, LLC.
Security Deposit Policy+
Serrus Real Estate and Property Management, LLC, standard security deposit is generally equal to one month’s rental rate. All deposits must be paid in full upon approval and by certified funds (cashier’s check or money order ONLY!), made payable to Serrus Real Estate and Property Management, LLC. The security deposit is not to be used as last month’s rent.
Utilities and Services+
Tenant agrees to pay for utilities and services. In the event of Tenant default on payment of utilities Landlord may pay and charge Tenant as additional rent together with any penalties, charges and interest. Tenant shall be liable for any inspections required by local authorities/utility companies due to Tenant’s failure to obtain service at time of occupancy or to maintain said service during the term of this agreement. Tenant shall pay all costs of hook-ups and connection fees and security deposits in connection with providing utilities to premises during the term of the Lease.
Acceptance of Application/Verbal Approval/Lease Signing+
If Serrus Real Estate and Property Management, LLC approves Applicant, Applicant agrees to execute Serrus Real Estate and Property Management, LLC Lease Agreement and all incorporated addenda for the property within ten (10) business days of verbal approval and agrees to pay the first (1st) month’s pro-rated rent and earnest deposit. Applicant agrees that ALL parties to the Lease Agreement [excepting any Guarantor(s)] be present together at one specified time during Serrus Real Estate and Property Management, LLC, normal business hours which are Monday through Friday from 9:00 am to 5:00pm to sign the Lease Agreement. Applicant(s) understand that Serrus Real Estate and Property Management, LLC will not perform Lease Agreement signing via fax, mail or overnight service. Applicant understands that if Applicant does not execute Serrus Real Estate and Property Management, LLC’ Lease Agreement, Serrus Real Estate and Property Management, LLC, may consider another Applicant.
Should the Applicant’s application be declined by any reason, the Applicant will be notified by telephone or in writing via mail to the current address listed on the application or via email.
Note that the binding rental agreement will be subject to Serrus Real Estate and Property Management, LLC’ acceptance of Applicant’s application packet, and subject to Serrus Real Estate and Property Management, LLC and Applicant entering into Serrus Real Estate and Property Management, LLC’ Lease Agreement. However, this Rental Policy Agreement will be binding upon execution by Serrus Real Estate and Property Management, LLC and Applicant. If any legal action or proceeding is brought by either party to enforce any part of this Rental Policy Agreement, the prevailing party will recover, in addition to all other relief, reasonable attorney’s fees and costs.
Generally pets are NOT allowed. Rare exceptions can be made. If an exception is made a photo will be taken of the pet and a $250.00 refundable pet deposit per pet will be required. However, none of the properties permit the following breeds of dogs; Pit Bull, Dobermans, Rottweiler, Chows or near relatives. (Exceptions: Assistive Animals Only). Pet deposits are strictly enforced.
Equal Housing Opportunity Property+
We do Business in Accordance with the Fair Housing Act. (The Civil Rights Act of 1968, as amended by the Fair Housing Amendments Act of 1988). IT SHALL BE ILLEGAL TO DISCRIMINATE AGAINST ANY PERSON BECAUSE OF RACE, COLOR, RELIGION, SEX, (PHYSICAL OR MENTAL) DISABILITY, FAMILIAL STATUS (HAVING ONE OR MORE CHILDREN), OR NATIONAL ORIGIN. In the sale or rental of housing or residential lots, In advertising the sale or rental of housing, In the financing of housing, In the appraisal of housing, In the provision of real estate brokerage services, Blockbusting is illegal Anyone who feels he or she has been discriminated against should send a complain to: U.S. Department of Housing and Urban Development Assistant Secretary of Fair Housing and Equal Opportunity, Washington, D.C. 20410