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RESIDENTIAL SELECTION CRITERIA & PROCEDURES
This information is provided to every applicant seeking residence at a property managed or Tenant Placement where Gates Realty Group is contracted. Cash is never accepted. 1. All Adult applicants 18 or older must submit a fully completed, dated and signed residency application and fee. Applicant must provide proof of identity. A Non refundable $50 ($100 for joint) application fee will be required for all adult applicants. Applicant may be required to be approved by a condo/homeowner's association and may have to pay an additional application fee or an additional security or damage deposit. 2. Applicants must have a combined gross income of at least three times (3X) the monthly rent. We reserve the right to require a co signer; debt ratio may not exceed thirty-five (35%) of monthly gross income; Income may be verified by pay stubs, bank statements, W-2's recent court decrees for child support or alimony. Persons using 1099 income must have two (2) years of work history in the same or similar job in the local job market and furnish two (2) years of financial history. A minimum of two years residential rental history is required. 3. Credit history and or Civil Court Records must not contain slow pays, judgments, eviction filing, collections or liens within the past 5 years. If you have filed for bankruptcy, it must have been already discharged. 4. Self employed applicants may be required to produce upon request 2 years of tax returns or 1099s and non employed individuals must provide verifiable proof of income. 5. All sources of other income must be verifiable if needed to qualify for a rental unit. In the absence of verifiable income, then proof of funds in the amount of twelve (12) times the monthly rent is required. 6. Criminal records must contain no convictions for misdemeanors for crimes involving violence, assault or battery, drugs, firearms; felonies within the past seven years and no sexual offenses ever. In the event a record comes back "adjudication withheld", "nolle prosse", or "adjudication deferred", further documentation may be required and applicant may be denied on this basis. 7. Previous rental history reports from landlords must reflect timely payment, sufficient notice of intent to vacate, no complaints regarding noise, disturbances or illegal activities, no unpaid NSF checks, and no damage to unit or failure to leave the property clean and without damage at time of lease termination. 8. No pets (with the exception of medically necessary pets for the benefit of the occupant(s)) of any kind are permitted without specific written permission of landlord in the lease document, an addendum to lease, a $200 non-refundable pet fee acceptable to landlord and/or an additional pet deposit or additional security deposit. Fees and deposits are waived for medically necessary pets. 9. A minimum non-refundable property preparation fee may be charged to the Resident(s) at time of leasing the property. It will be used at the end of your lease term to cover any needed cleaning, carpet cleaning and re-keying. Other mandatory minimum fees for cleaning, carpet cleaning, re-keying etc may be charged as per the lease. Resident(s) shall still be liable for amounts for damages, cleaning, re-keying etc that exceed this non refundable property preparation fee or minimum fees. 10. Applicants will be required to pay a security deposit at the time of lease execution in a minimum amount of one months rent. We reserve the right to require a higher security deposit and or additional prepaid rent. 11. The number of occupants must be in compliance with HUD standards/guidelines for the applied for unit. 12. We may require a holding or good faith deposit to be collected to hold a property off the market. In the event the application is approved and applicant fails to enter into a lease, the applicant shall forfeit this deposit. In the event the application is approved, this deposit shall be applied to the required security deposit. 13. Any exceptions to our company's criteria will need to be submitted in writing to the rental agent for presentation to the landlord for consideration. If approval is then given for such exceptions, additional security, co signers, and/or additional advance rent payments may be required. 14. Our company policy is to report all non compliances with terms of your rental agreement or failure to pay rent, or any amounts owed to the credit bureau and/or a collection agency and if the amount is disputed, it shall be reported as disputed in accordance with law. 15. All information collected for the approval or denial of this application is considered confidential in nature and for Company use only. 16. If you have water-filled furniture, you must supply Gates Realty Group with proof of insurance. (FS. 83.535) No properties are held for more than two (2) weeks unless approved by owner. 17. If application is approved, you must sign a lease and provide a security deposit in certified funds, for the premises within forty-eight (48) hours of approval. If an applicant fails to complete the lease and provide the necessary security deposit within forty-eight (48) hour period - the applicant will be denied and the property returned to the open market. If the applicant deposits the security deposit and signs the lease, and attempts to terminate the lease before occupying the property - the security deposit will be forfeited as liquidated damages for the owner. Applications will be processed on a 'first come-first serve basis', due to our fiduciary relationship with the owner, if more than one (1) application is submitted before approval can be achieved, then we are required to select the highest rated application for placement. The application must be complete and signed. If you are in the military, please submit the most current LES. Keys will be released on the first (1st) day of occupancy. 18. If occupancy occurs before the fourteenth (14th) of the month, rent will be due for the remainder of the month. If occupancy occurs on the fifteenth (15th) or later, then rent will be pro-rated for the remainder of the month AND the next month's rent must be paid in full. This Rental Criteria and Procedures handout is provided to every applicant seeking residence at a property managed or Tenant Placement where Gates Realty Group has a contractual responsibility to an Owner to provide these services. Applicants should not proceed with completing and submitting an application unless they have read and agree to this document. By clicking one of the "Pay Now" buttons below, I/we agree to the above terms and conditions and wish to proceed to the application. I/We also authorize Gates Realty Group to verify all information provided on this application and to charge my credit/debit card for the specified application fee. AFTER YOUR PAYMENT HAS BEEN RECEIVED, YOU WILL BE DIRECTED TO THE ONLINE RENTAL APPLICATION!
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