Tenant Qualification
Application Acceptance Policy
Prospective tenants, please read carefully!!!
The following Minimum Requirements must be met in order for an applicant to be placed in a rental property we manage. Some of the properties we manage may have additional requirements that must be met, such as "no smoking," "no waterbeds," or "no pets." If any of these conditions applies to you, please inquire if the property you are interested in allows smoking, waterbeds, pets or other animals PRIOR to making application. We will be verifying your rental history, your income, your criminal background and your credit history!
MINIMUM RENTAL REQUIREMENTS
1. Prior favorable rental history of at least 1 year for each applicant.
2. Positive rental reference(s) from previous landlord(s). We like to see at least 2!
3. Each individual applicant's total monthly income is at least 2.5x the monthly rent amount. Each married couple's income monthly income is at least 3x monthly amount. We consider income from child support, financial aid & the like in addition to income from employment, social security, etc.--with verification! To expedite application process, please provide us with a copy of your 2 most recent paystubs when turning in your application!
4. Individual applicant or married couple applicant's total monthly income is at least 2x their total monthly expenses.
5. Verifiable source of income or employment. We prefer to see that an applicant has maintained the same verifiable source of income for at least 1 year. If not with the same company, at least within the same industry.
6. No prior evictions, judgments, collections or liens from former landlords. No negative notices of any kind issued by present or previous landlords...negative rental references will result in denial of your application.
7. No collections from utility companies.
8. No more than 3 tenants (including children 18 years or younger of primary applicant or co-applicant) to a 1 bedroom unit or 5 tenants to a 2 bedroom unit--OR a reasonable number of tenants given the size of a unit. This is a rule of thumb. The number of tenants reasonably allowed at a given property will be determined by the property manager &/or the owner of the property.
9. Prodigy Properties prefers to see no criminal history, but certain infractions will be looked at by a case by case basis. Prodigy Properties will look at the overall "Big Picture" when pertaining to felonies, a felony will not necessarily exclude you from being approved, but the felony conviction will be reviewed along with applicant's other information as part of the "Big Picture."
10. ALL prospective tenants age 18 and older (including children) must truthfully and completely fill out and sign application paperwork and pay the required non-refundable application processing fee of $50 per individual. Prodigy Properties does not rent to minors, unless formally emancipated with verification of such and meeting all other requirements.
11. Applicant must provide current official picture I.D. such as driver's license or state issued I.D. card. Proof of Social Security Number (SSN) is required for Prodigy Properties to run necessary credit report, criminal check etc. Copies of a current/past pay stubs/proof of income will be required. Other documentation may become necessary in the course of screening.
12. Applicant must pay full rent amount due and full deposit required PRIOR to occupancy.
13. If pets are allowed at a property a full pet deposit or pet fee is required PRIOR to occupancy. The standard pet deposit is $250 per pet, but pet deposits or fees vary from property owner to property owner...please inquire regarding the specific property.
14. All information on rental application and/or credit report must be able to be verified (i.e., accurate phone numbers, account numbers, etc. MUST be provided by prospective tenants). Failure to provide this will result in delay or denial of application.
15. Credit: we want to see "good" credit for all applicants. In order to be approved applicants must have a credit score of at least 525 according to the reporting agency that we use. Applicants should know that their credit history will impact our decision making. Prodigy Properties does not accept credit/criminal background reports from outside sources. We contract/run these verifications through Transunion smart move, a background screening company.
16. Information provided on application MUST be truthful. If found to be less than truthful, whether by providing false information or by omission, application may be denied, or if already placed in a property when untruth discovered, applicant may be required to vacate/be evicted.
Failure to meet the above criteria will result in one or more of the following:
* Denial of rental application.
* Requiring a qualified Co-Signer/Guarantor. This option is not always available. Co-signers/Guarantors do not fix everything...and not all property owners will accept them.
* Requiring an additional security deposit if deemed to be more of a "risk".
Grounds For Immediate Denial
We're sorry, but:
There are some things a co-signer or additional deposit won't help!
**A less than 525 credit score**
**We look at "The Big Picture" for criminal background, but some criminal history can result in immediate denial of application, for example, sex offenses**
**A poor rental reference will result in immediate denial of application**
**Collections from landlords or utility companies will result in denial of application**
**Applicants will be denied residency for incomplete or false information provided on his/her application**
**NOTE: Prodigy Properties accepts applications on a "first come, first served" basis, in the order they are received with all fees paid.** / **Co-signers/ guarantors are not offered as an option in every circumstance--we prefer that applicants be able to "stand on their own."**
Extended Business Hours & Appointment Scheduling
It is our goal to provide you with the highest level of service at all times. Our experts are there when you need them most. We are open for ample hours during the week, but if your schedule absolutely will not allow you to see us M-F, please inquire. We MAY be able to accommodate. We cannot always accommodate...
Please note that lease signings/rental agreement signings must be scheduled at least 24 hours in advance of when you would like to sign. There is a lot involved behind the scenes in the preparation of your paperwork and other preparation for your lease signing!
Please plan to spend at least 45 minutes to 1 hour with us for your signing.
If you've made an appointment and can't keep it for some reason, please extend us the courtesy of a phone call to cancel & reschedule! 443-986-8394 Thank you!
Note ***Credit score minimums can be changed according to the owner’s preference for their properties***