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LEASING CRITERIA
LEASING CRITERIA

APPLICATION DOES NOT CREATE A LEASE. This application, even if accepted, shall under no circumstances be considered a lease agreement between Applicant and Landlord, or an offer to lease. No lease shall exist between Applicant and Landlord unless and until the parties enter into a formal Lease Agreement and Applicant pays all required fees, deposits and advance rent.

 

AUTHORIZATION TO DO CREDIT AND BACKGROUND CHECK. Applicant hereby authorizes Landlord and Landlord’s authorized agents to do whatever background and credit check on Applicant Landlord or Landlord’s agents deem appropriate. This may include among other things obtaining one or more credit reports on Applicant. Such credit report(s) may be obtained before and during the term of the Lease and after the expiration or termination of the Lease as part of any effort to collect rent, costs, fees and charges owing under such Lease. Applicant acknowledges that merely requesting such reports may lower Applicant’s credit score and Applicant expressly consents to the same.

 

USE OF INFORMATION. The information in this application or obtained as a result of the authorization given herein by Applicant will not be sold or distributed to others. However, Landlord and Landlord’s agents may use such information to decide whether to lease the Property to Applicant and for all other purposes relative to any future lease agreement between the parties including the enforcement thereof.

 

COMMITMENT TO EQUAL and FAIR HOUSING. Landlord and Landlord’s agents are committed to providing equal housing opportunities to all rental applicants regardless of race, color, religion, national origin, sex, handicap, familial status, or other protected status. NEST Property Management welcomes qualified Section 8 voucher holders who have been approved for the Section 8 program by the local housing authority.

 

REASON FOR DENIAL. If this Application is denied, you will receive a letter stating your denial reason within ten (10) days. You may contact Appfolio for a copy of your screening as NEST does not determine Approval status. 

 

FALSIFICATION OF APPLICATION. Any falsification in Applicant’s paperwork will result in the automatic denial of Application. In the event that an Applicant falsifies his/her paperwork, owner has the right to hold all deposits and fees paid to apply towards liquidated damages.

 

Occupancy Guidelines – The following occupancy standards apply based on 2 persons per bedroom, plus one per home, One Bedroom Three Persons, Two Bedroom Five Persons, Three Bedroom Seven Persons, Four Bedroom Nine Persons, Five Bedroom Eleven Persons * Residents who exceed these occupancy standards during the lease term will be required, upon the end of the current lease term, to either: i. Transfer into another available home which has more bedrooms; or ii. Move out Rent for the new home will be at the rental rate at the time the lease is entered into for the new home.

 

Age – Applicants must be 18 years of age or older unless deemed to be an adult under applicable law with respect to the execution of contracts. Anyone over the age of 18 MUST submit an application.

 

Credit – A credit report will be completed on all applicants to verify credit ratings. Income plus verified credit history will be considered to determine rental eligibility.  Unfavorable accounts which will negatively influence this score include, but are not limited to: collections, charge-off, repossession, and current recent delinquency; and open bankruptcies can result in an automatic denial of the application.

 

Income – Gross income for all applicants in one home will be combined and entered into the credit scoring model for income eligibility. All applicants will be asked to produce consecutive and most-recent pay stubs for the last 8 weeks from Application Date. If handwritten pay stubs are supplied, the documents must be validly notarized to be deemed sufficient. Applicants must have a minimum combined gross income of 3 times the monthly rent. Additional sources of verifiable income may be considered. These sources may include: child support, grants, pensions, GI benefits, disability, trust funds, and social security.  Some credit scoring results will necessitate further income verification. In such instances, verification with employer will be completed or applicant may be asked to produce additional financial statements/records.

 

Employment – If applicant is to begin work shortly, the applicant must provide a “letter of intent” to hire from the employer.  This will be verified.

 

Self-Employment, Retired or Unemployed – Such applicants must provide the past 2 (two) previous year’s income tax return and the previous two month’s bank statements, or twelve months of financial statements and must exhibit no negative references. Seasonal employment must be verified by providing the prior 2 (two) year’s tax return.

 

Criminal History – A criminal background check will be conducted for each applicant and occupant ages 18 years or more as part of our application process.

 

Rental History – Nest requires all applicants to submit a point of contact for a verifiable rental history for the last 24 months.  If a previous landlord cannot be contacted your application may not be approved.  All landlord verifications must be submitted in writing.  No verbal verifications are accepted. Mortgage payment history can also be accepted for the last 24 months.  When applications depend on the results of a rental history investigation for an approval/ denial determination, applications for residency will automatically be denied for the following reasons: i. An outstanding debt to a previous landlord or an outstanding NSF check must be paid in full ii. A breach of a prior lease, or a prior eviction, or an applicant or occupant in the process of eviction iii. More than 1 late payment and/or 1 NSF within 6 months or late payments and/or NSFs within a year.

 

Guarantors – Guarantors will be accepted for applicants who do not meet the required rent-to- income ratio or denied on credit. Only one guarantor per house is permissible. For guarantor supported applications, an additional application deposit will be required. The deposit level will be based on the credit analysis. The guarantor will be required to complete an application and pay a full application fee. Guarantors must have a gross monthly income of 4 times the monthly market rent and meet all other qualifying criteria identified in this screening policy. The guarantor will be required to sign the lease as a Leaseholder. Guarantors may be relatives or an employer; friends may not serve as a Guarantor. Guarantor much live in the same county as the property is located.

 

Animals - No more than two animals are allowed per home. Animals must be no less than six (6) months of age. Pet fees and pet rent will be charged. Additional Renter’s Insurance may be required which includes the pet. Please be sure to familiarize yourself with our restricted breeds policy before applying.  

  • Any prohibited breeds dogs;

  • Any exotic, wild, farm, or saddle animal;

  • Any animal deemed dangerous, vicious, or potentially dangerous, under state statute;

  • Any animal with prior history of biting or attacking persons, property, or other animals;

  • Any animal that has been trained to guard or attack; This Exclusion applies whether the “bodily injury” or “property damage” occurs on the “residence premises” or elsewhere. Exotic, wild, farm, or saddle animals, include, but are not limited to: hoofed animals, livestock, reptiles, primates, and fowl.

    • Prohibited breeds of dogs include: Akitas Inu, Alaskan Malamute, American Bull Dog, American Staffordshire Terrier, American Pit Bull Terrier, Beauceron, Boerboel, Bull Mastiff / American Bandogge / Bully Kutta (any other Mastiff breed), Cane Corso, Caucasian Ovcharka (Mountain Dogs), Chow Chow, Doberman Pinscher (miniature Dobermans acceptable), Dogo Argentino, English Bull Terrier, Fila Brasileiro (aka Brazilian Mastiff), any Shepherd breed, Giant Schnauzer, Great Dane, Gull Dong (aka Pakistani Bull Dog), Gull Terrier, Husky or Siberian Husky, Japanese Tosa / Tosa Inu / Tosa Ken, Korean Jindo, Perro de Presa Canario, “Pit Bull”, Rhodesian Ridgeback, Rottweiler, Staffordshire Bull Terrier, Thai Ridgeback Wolf or Wolf hybrid, and any mixed breed dog containing any of the aforementioned breeds.

Vehicles - Vehicles must be operational and have current registration and inspection. Boats or trailers are not allowed at any time unless approved in writing by landlord.

 

Renter’s Insurance Requirement - Renter’s Insurance is required with a minimum of $100,000 of Personal Liability Insurance coverage with Landlord identified as a “Party of Interest” or “Interested Party” (or similar language as may be available) on the renter’s liability insurance policy. Residents are required, to obtain and maintain renter’s insurance policy covering loss or damage of personal property. Additional Renter’s Insurance is required with any tenant with an animal.

 

Risk Mitigation Fee – The results of the credit score will determine the amount of Risk Mitigation Fee. *See our website for details.

 

Best regards,

Nest Managers Real Estate

ADDITIONAL INFORMATION

Lead Based Paint Brochure

For Homes Built Prior To 1978

Fair Housing Brochure

 

Servicemembers Civil Relief Act (SCRA)

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