SCREENING CRITERIA AND DISCLOSURE
*All applicants will be charged a $65.00 application fee per adult (18 or older)
*THE APPLICATION FEE OF $65.00 PER ADULT IS NON-REFUNDABLE
*Each adult over 18 is required complete a separate application form. It would be in your best interest to confirm that your rental requirements are not outside of our tenant criteria with multiple adult roommates, eviction history, foreclosures, bankruptcies, job loss, minimal income, low credit scores (below 500), unusual pets, large pets, multiple pets, multiple families, or anything that would cause your application to be rejected.
*Wanting to offer less than list price for the home will cause your application to be delayed or rejected*
WHEN THE ON LINE APPLICATION IS COMPLETED, WE WILL PROCESS YOUR APPLICATION – CHARGING THE $65 APPLICATION FEE.
This application, background information, credit scores, rental history, criminal history, and employment verification will be viewed by Real Property Management Prestige Employees, and possibly the Property Owner.
***Multiple Applications May Be Reviewed in Choosing an Applicant***
Lease Criteria in Applying for a Home: Before you apply for a home, read the following information concerning the approval process. If you have any questions, contact our office during normal business hours Monday to Friday 9 AM to 5 PM Central Standard Time.
Application Process & Screening Criteria: Real Property Management Prestige is committed to equal housing and we fully comply with the Federal Fair Housing Act (FFHA). We do not discriminate against persons because of race, color, religion, sex, handicap, familial status, national origin, or age. We also comply with all state and local fair housing laws. We offer application forms to everyone who requests one. Each occupant over the age of 18 must complete an application and pay the $65.00 application fee. Approval is based on SEVEN factors:
- Credit History
- Employment Verification and History
- Income Verification
- Rental Verification and History
- Criminal Background Check
- Terrorist Database Search
- Animal Criteria
Identification: Each applicant is required to provide a copy of a legible Government issued photo identification card. A photo of your identification card can be uploaded to your application.
Income Verification: Income should be at least three (3) times the monthly rent and verifiable from an unbiased source: employer through pay stubs, tax returns, and/or bank statements. Self-employed income may also be verified with a CPA-prepared financial statement or tax returns. Your employment history should reflect at least 6 months with your current employer. Transfers or relocations must have correspondence showing an accepted job offer. Any verification fees required by the employer must be paid by applicant. Applicants who do not meet the above employment or income requirements must submit Savings Account statements showing a minimum average balance equal to 8 months of rental payments, for the last 6 months.
Employment: We require verifiable employment history for at least the past three (3) years. You must be a permanent employee (not temporary or probationary). If you are self-employed, retired, or not employed, we can accept such documents as signed tax returns (2 years minimum), bank statements, etc. that provide proof of applicant’s ability to pay the rent. If military, we need a current copy of your LES. If you are active-duty military, you must be on an assignment that, to the best of your knowledge, will allow you to complete an initial 12-month lease.
Residence History: We require verifiable residence history for at least three (3) years whether you currently own or rent. Applicants are responsible for providing information including the names, addresses and phone numbers, of Landlords with the dates of tenancy for the previous 3-5 years. Rental history must be verified from unbiased sources. Home ownership will be verified from a current credit report. We can accept base housing as rental history. Any evictions within the previous 5 years will be automatic grounds for denial. Broken leases will be considered on a case-by-case basis and an additional security deposit may be required.
Credit History: We will obtain a copy of your tenant credit score from Appfolio Screening Services. You cannot provide this to us, we will obtain this ourselves. Credit history should show that the resident has paid bills on time and does not have a history of debt “write-offs” or accounts that have gone into collection. Money owed to a previous landlord or utility company is cause for denial.
Errors & Omissions: Every effort has been made to provide applicants with reliable and accurate information regarding the home you are applying for – however, changes can and do take place to cause inaccurate information to be accidentally presented. We encourage all tenants to verify schools, allowable pets, expected features, or any HOA concerns prior to signing a lease agreement. Any information posted in the MLS advertisement does NOT constitute a written agreement or guarantee of the facts stated.
Criminal, Sex Offense, and Terrorist Database Check: We will check these databases for all occupants over 18. We do not rent to any person required to register as a sex offender. Criminal backgrounds involving violent crimes, sex offenses, domestic violence and/or involving the possession/distribution of weapons or illegal substances are all grounds for denial of an application. An exception may be made for type and or age of offense, please provide details to the Property Manager.
Preferred Tenant Program for Well Qualified Applicants
Real Property Management Prestige has designed a program to give approved applicants an opportunity to ease the burden of up-front expenses when leasing one of our homes. The standard security deposit is one month’s rent. In this program, an approved applicant has the OPTION to apply for approval during the lease application process allowing them to not have to pay the standard security deposit mentioned above. A request from MyObligo.com will be sent to the applicant once they pass the Real Property Management Prestige screening criteria. During that next process, the applicant will apply thru MyObligo.com using their Credit Card and Checking Account as the means to cover any damages incurred at the end of the lease agreement.
An approved applicant will incur a monthly charge by our Billing Authorization Technology vendor – MyObligo.com. The monthly charge collected by MyObligo.com will vary upon the monthly lease amount of the home to opt out of the standard security deposit. This is an OPTIONAL program only offered on a case by case basis with the Landlord or Real Property Management Prestige maintaining full authority to rescind this offer at any time, for any home.
Real Property Management Prestige uses Billing Authorization Technology through MyObligo.com. See the information below.
Obligo Minimum = $9.90 Per Month
This program is only offered to well qualified applicants with the following criteria:
- Combined Appfolio Tenant Credit score of 615+.
- Must be approved through the Real Property Management Prestige Third Party Affiliate MyObligo.com (Separate Application).
3) At Lease Signing, pay a one-time Preferred Tenant Program Admin Fee of $95.00.
For any damage to the home (above fair wear and tear) after Real Property Management Prestige conducts a final inspection, an itemized final bill will be presented to the outgoing tenant for payment through MyObligo.com in accordance with the lease agreement. All conditions of the lease apply for Security Deposit.
Six (6) Month Lease Agreement Option = Rent + 20%
Should an applicant request a 6-month initial lease agreement, Real Property Management Prestige charges an additional 20% on top of the advertised rental rate. (Example:Advertised Rent = $1,500 Per Month. Add in 20% for 6 Month Lease Option = $300 Per Month. Total Monthly Rent for 6 Month Lease Option = $1,800)
Contingent Approval – Risk Mitigation Fee – Tenant Score Based
Real Property Management Prestige can offer applicants with lower than a 615 Appfolio Tenant Credit Score with an opportunity to rent from us by offsetting the monetary risk for the owner, and the management company. Applications may still be approved with less than a 615 Appfolio Screening Tenant Credit score. Combined Tenant Scores of 615 or higher are usually approved with normal rents, as advertised admin fees, and the advertised security deposit.
Applicants with Less Than a combined 615 Appfolio Credit Screening Score May be Subject to a Risk Mitigation Fee, or other proposed terms, as outlined below:
Combined Appfolio Tenant Credit score of 614 to 594 will require an additional risk mitigation fee of $250.00.
Combined Appfolio Tenant Credit score of 593 to 550 will require an additional risk mitigation fee of $750.00.
Combined Appfolio Tenant Credit score of 549 and below will require an additional risk mitigation fee equal to
$1,250.00 – AND – are subject to review and approval by upper management.
Denied Lease Approvals: Any combined Appfolio Tenant Credit Score under 500 are declined.
Calculating for the Combined Appfolio Tenant Credit Score of Multiple Applicants: Add the two Appfolio Tenant Credit Scores together for both (or more) applicants and divide by the number of applicants in the home to arrive at the determining number for the approval process.
Example: 1) Applicant ONE has a Score of 600 2) Applicant TWO has a Score of 550
Gross Score =1,150. Divide by Two = (1,150/2) = 575 Combined Score = $750.00 Risk Mitigation Fee
Offering an approval based upon a total Appfolio Tenant Credit score below a 615 comes with inherent risk to the landlord and property manager. As the apartment industry has done, an approval can be offered even to tenants with less than perfect credit as long as they can pay the additional fee associated with their tenant and credit scores to offset the risk involved for all parties.
This program is offered on a Case by Case basis only —weighing heavily on other factors outside of credit score to include income and rental history compiled by Appfolio Screening Services. Real Property Management Prestige maintains the right to retract this offer for any applicant based on other criteria associated with the application process.
INFORMATION ON ANIMALS
Rental Criteria for Animals: Animal policies vary from one homeowner to another. Some owners do not permit animals (other than approved service animals) on the property, while others restrict type and/or size of allowable animals. No more than two animals per household are permitted without specific owner approval. On a case by case basis, Real Property Management Prestige will allow for Restricted Breed dogs that are all are any portion of mixed with the following breeds:
*Akita *Rottweiler *Doberman
*American Bulldog *Bull Terrier *German Shepherd
*Great Dane *Bullmastiff *Husky or Siberian Husky
*Chow *Presa Canario *Pit Bull
*Staffordshire Terrier *Wolf Type Dog *Combination of Any
Each approved animal in this list will incur an additional monthly fee of $25.00 per animal.
Tenants may be evicted for misrepresenting any of the above type of dog, as well as for being in possession of any poisonous, dangerous, endangered species or otherwise unauthorized animal. Our animal policies are strictly enforced by our Lease Agreement and can be grounds for eviction.
Service Animals: Any requests to allow for certified service animals must be accompanied by current documentation and will be reviewed for accuracy.
We require with your application, a picture of each animal that will be on the property. The approval process and final determination of breed will be the responsibility of Real Property Management Prestige. These determinations are final.
-We may require you to bring the animal(s) to our office in person for final approval-
Standard Animal Fees and Deposits (non-breed specific from list above):
Lease Signing: $250.00 Animal Administration Fee Per Approved Animal.
Monthly: $15.00 Animal Administration Fee Paid Monthly Per ApprovedAnimal.
Restricted Breed List Approved Animals:
Lease Signing: $250.00 Animal Administration Fee + $25.00 Restricted Breed Fee
Monthly: $15.00 Animal Administration Fee + $25.00 Restricted Breed Fee
Dog Liability Insurance: All approved restricted breed dogs must comply with the following:
- Purchase Dog Liability Insurance with a minimum coverage of $100,000 per
- Name Real Property Management Prestige as “ADDITIONALLY INSURED” on this policy and provide
Recommendations: Conduct a Google Search for “Dog Liability Insurance” online and seek several quotes from insurance providers licensed in Texas for your pet.
This must be completed and presented to your property manager prior to move in.
RESIDENT BENEFITS PACKAGE: $48.95 Per Month
Included with ALL lease agreements under Real Property Management Prestige is the Resident Benefits Package. Real Property Management Prestige has developed a Tenant Benefits Package, which provides Payment and Service Benefits for the tenant. All rental units are automatically included in the Real Property Management Prestige Tenant Benefits Package and therefore subject to a charge of $48.95 per month, which shall be paid along with the tenants monthly rent payment.
RBP may include, subject to property mechanicals or other limitations:
- Quality HVAC air filter delivery directly to your doorstep approximately every 30 days.
- Renters Insurance that meets all lease requirements from an A-rted carrier.
- Move-In Concierge service: one call set up your utility services, cable, and internet services.
- A resident rewards program that helps you earn rewards for paying your rent on time.
- Credit building to help boost your credit score with timely rent payments.
- $1M Identity Protection for all adult leaseholders.
- 24/7 online maintenance reporting.
- Home Buying assistance when the time is right to buy your “forever’ home.
- Online portal: Access to your account, documents, communication and payment options.
- Vetted vendor network: we find technicians who are reputable, licensed and insured.
Frequently Asked Questions:
Can I opt out of this Resident Benefits Package? No it is mandatory-
Real Property Management Prestige is providing the Resident Benefits Package to all tenants. All rental units are automatically included in the Real Property Management Prestige Resident Benefits Package and therefore subject to a charge of $48.95 per month, which shall be paid along with the tenants monthly rent payment. Charges shall be payable by the tenant immediately upon notice without exception. If for any reason the tenant does not pay their rent, Tenant Benefits Package fee, any other outstanding balance associated with the lease in full or vacate or abandon property then the Resident Benefits Package for the leased premises and tenants associated with the leased premises will be considered ‘not in force’ and tenant shall be in breach of this lease agreement
REQUIRED LIABILITY INSURANCE ADDENDUM TO LEASE AGREEMENT
All Lease agreements under Real Property Management Prestige, Tenants are required to carry a minimum of $100,000 Limit of Liability for Resident’s legal liability for damage to the landlord’s property for no less than the following causes of loss: fire, smoke, explosion, backup or overflow of sewer, drain or sump, water damage, and falling objects.
Resident is required to furnish Real Property Management prestige with evidence of Minimum Required Insurance prior to occupancy of leased premises, for the duration of the Lease and at the time of each Lease renewal. If at any time Resident does not have Minimum Required Insurance, Resident is in breach of the Lease Agreement and Landlord shall have, in addition to any other rights under the Lease Agreement, the right but not the obligation to purchase Minimum Required Insurance coverage and seek reimbursement from the Resident for all costs and expenses associated with such purchase.
If Resident does not maintain Minimum Required Insurance, the insurance requirement of this Lease Agreement may be satisfied by Landlord, who may schedule the Resident’s home in the Master Resident Liability Program (“MRLP”). The MRLP will satisfy the Minimum Required Insurance coverage listed above. An amount equal to the total cost of the MRLP shall be charged as additional rent to Resident by the Landlord. Some important points of this program, which Resident should understand are:
- MRLP is not personal liability insurance or renter’s insurance. Landlord makes no representation that MRLP covers the Resident’s personal property (contents), additional living expense or liability arising out of bodily injury to any third party. If Resident requires any of these coverages, then Resident should contact an insurance agent or insurance company of Resident’s choice.
- The MRLP may be more expensive than the cost of Minimum Required Insurance obtainable by Resident elsewhere. At any time, Resident may contact an insurance agent or insurance company of their choice for insurance options to satisfy the Minimum Required Insurance under the Lease Agreement.
- Licensed insurance agents may receive a commission on the MRLP.
- The total cost to the Resident for the Landlord enrollment in the MRLP is Thirteen Dollars and No Cents ($13.00) per month.
What if I have my own Renters Insurance coverage?
Enrollment in the MRLP is not mandatory, and Resident may purchase Minimum Required Insurance or broader coverage from an insurance agent or insurance company of Resident’s choice, after which time enrollment in the MRLP will be terminated by the Landlord.
If Resident obtains Minimum Required Insurance or broader coverage from an insurance agent or insurance company of Resident’s choice, Resident agrees to:
Name Real Property Management Prestige as additional Insured
NOTICE TO ALL APPLICANTS: NO SMOKING is permitted inside the home or garage.
Disabled Accessibility: Any concerns should be submitted in writing to the property manager. We must obtain Owner approval to allow modification of the premises. All modifications are at the expense of the disabled person, and the disabled person must agree to restore the premises, at their own expense to the pre- modified condition (provided the modification would affect the use and enjoyment of the premises for future residents). We require written proposals detailing the extent of the work to be done, approval from the landlord before modifications are made, appropriate building permits with required licenses made available for the landlord’s inspection, and a restoration deposit may be required per Fair Housing guidelines.
SCHOOL BOUNDARIES: School Enrollment concerns should be investigated prior to submitting your application. Applicants must verify their own school information with the school district. Because of the expansive growth in this region, school enrollments get capped and designation boundaries may change. We highly recommend you contact the local school district should any of the school boundaries be a concern for the home you would like to rent.
***IT IS THE DUTY OF THE APPLICANT TO VERIFY SCHOOL BOUNDARIES***
SEX OFFENDERS: Applicants should satisfy their concerns regarding crime statistics or the presence of any sex offenders in the area, before submitting an application. This information is available free of charge on the internet at the below sites. ***WE DO NOT RENT HOMES TO REGISTERED SEX OFFENDERS***
Sex Offenders www.txdps.state.tx.us
REASONS FOR DENIAL OF APPLICATIONS:
- If you failed to give proper notice when vacating a
- If previous landlord(s) would be unwilling to rent to you again for reasons pertaining to your behavior or that of any family member, guest (welcome or not), or any animal on the property during your
- If you have had three or more late payments of rent within the last 12
- If you have an unpaid collection filed against you by a Property Management
- If an unlawful detainer action or eviction has occurred within the past five (5)
- If you have recently received a 3-day notice to
- If you have less than a 615 combined Appfolio Tenant Screening applicant credit score and refuse to abide by the additional Risk Mitigation fee as outlined
- If you have had two (2) or more NSF checks within the last 12
- If you have allowed any person(s), not on the lease, to reside on the
- If we are unable to verify your information, we must deny the
- No Businesses operated from property. If you have a home-based Business that you think we might approve please let the Property Manager
- If you violate any of our terms of service during this application
- Applicant requests re-wording or removing any paragraphs in the Real Property Management Prestige Lease
APPLICATION APPROVAL: All approved applicants will receive further instructions via email.
Lease Agreement with Security Deposit:
At approval, the advertised security deposit amount will be required within 48 hours in certified funds.
No Security Deposit Option Lease Agreement:
At approval, the Amount Due to Reserve Property equal to One Month of Advertised Rent will be required within 48 hours in certified funds. This payment will be credited towards rent upon move in.
START OF LEASE:
Vacant Homes — Real Property Management Prestige has a policy that all leases on vacant homes must begin within 14 days of application approval. We are unable to hold the home rent free without a lease agreement longer than that time.
Occupied Homes — Real Property Management Prestige will typically advertise a first available date with all of the homes we manage. In some cases, those dates will need to change due to circumstances beyond our control. We ask the approved incoming tenant be flexible in some cases. We understand the burden this can create and strive to advertise a solid date so incoming tenants can plan accordingly.
Leases starting within 5 days of the end of the month — We will require the next full month’s rental amount with the pro-rate.
OPTIONAL: Move In With Lockbox Access As an optional feature during the lease process and move in of your new home, we can offer the convenience of gaining access for the first time without having to check out keys from our office. With this optional program, tenants may gain access to their new home through our lockbox for an optional additional charge of $25.00.
A separate form will be sent to you for review and signature during the lease approval process.
What Our Tenants need to Know:
- Real Property Management Prestige conducts periodic annual inspections of the home you will live in. We take pictures of the interior and exterior of the home during that inspection. This information is kept on record and shared with the owner. If this standard annual inspection procedure is going to cause you a problem – we recommend you stop now and do not apply for one of our
- During the last 30 days of your lease agreement – a sign and lockbox may be placed on the home and you may be required to show the home to prospective new tenants. You may opt out of this arrangement, but it will cost an additional fee of one month’s rent to do so.
- Real Property Management Prestige is a ZERO TOLERANCE company regarding rent collection. Rent is due the 1st of each month, late the 4th of each month. Late fees begin midnight on the 4th of the month. Late fees will be applied with no exceptions.
- Site Un-Seen Application and Approval. It is possible to apply for the home, be approved, and sign a lease agreement without ever seeing one of our homes in person. In such a scenario, we require an incoming approved tenant to sign a Site Un-Seen Addendum to the Lease Agreement. In that form, we ask you name a “Trusted Advisor” outside of Real Property Management Prestige who has offered you their opinion of the condition of the
Lease Preparation Fee: $100 — There is a lease preparation fee of $100 per lease agreement to prepare, forward, and offer the convenience of electronic signatures.
Upon completion of your Application, you will be notified in writing of your Approval / Denial / or Offer of Other Terms within 2-3 Business Days.