RENTAL APPLICATION QUALIFICATIONS AND NOTIFICATIONS
As a condition of occupancy, any person of legal age (18 years old or older) intending to occupy the property must complete an application and pay a nonrefundable application fee of $75.00.
FAIR HOUSING: Hagler & Company Property Management Team with Keller Williams Realty Peachtree Road and our property owners are committed to compliance with all federal, state and local fair housing laws. It is our policy to comply with all laws prohibiting discrimination; including those that prohibit discrimination based on race, color, religion, national origin, sex, handicap, or familial status.
AGENCY DISCLOSURE: Hagler & Company Property Management Team with Keller Williams Realty Peachtree Road has acted as Agent for the property owner in this transaction and is being paid a fee by the property owner. Hagler & Company Property Management Team with Keller Williams Realty has not acted as Agent in this transaction for any applicant, tenant or occupant.
MINIMUM REQUIREMENTS REQUIRED FOR THE APPROVAL OF A RENTAL APPLICATION.
INCOME / EMPLOYMENT:
- Employment verification must be obtained on all responsible applicants. Self-employed applicants must provide the 2 most recent years personal tax returns to show proof of income.
- Gross monthly income must be at least three (3) times the advertised market rental rate for the property desired. Unverifiable income will not be considered.
- Proof of earnings from social security, child support, alimony or spousal support must be verified in writing.
- Acceptable income verification includes one of the following: (1) last two paycheck stubs showing year-to-date earnings, (2) two most recent personal tax returns, (3) newly employed applicant (less than 30 days) can use an accepted offer letter on company letterhead signed by direct supervisor, or payroll, or human resources department representative as proof of employment.
- Phone and/or Fax verifications of employment will also be performed on all applicants.
CREDIT / DEBT:
- We will obtain a credit report for all applicants. We do not accept copies of credit reports supplied by applicants or other sources, no exceptions.
- An unsatisfactory credit report will result in the denial of a routine approval of the application. An unsatisfactory credit report reflects past or current bad debts, late payments, unpaid bills, any collection accounts, liens, judgments, bankruptcies, foreclosures, short sales or a credit score below 650.
- The monthly debt payment obligation as reported on the credit report plus monthly rent rate will be used to calculate a debt to income ratio. Applicant must have a debt to income ratio of less than 45%.
- Each applicant must have at least two (2) years of verifiable and satisfactory rental history, and/or homeownership. Satisfactory rental history reflects prompt monthly payments, sufficient notice, fulfillment of previous lease and the property left with no damages.
- All references must be verifiable, family references are not acceptable. Negative references can be grounds for denial.
- We will perform a National Eviction Record Database Search on every applicant 18 years old or older.
- We will perform a National Criminal Background, Sexual Offender Search and OFAC Patriot Act Search on every applicant 18 years old or older.
- A conviction, guilty plea or no-contest plea for any felony or misdemeanor involving assault, intimidation, sex related, drug related, property damage, weapons charges, trespass, theft, prostitution or dishonesty will be grounds for denial.
- Any criminal record activity that could be deemed harmful or threatening to the health and safety of any individual, the rental property, neighborhood / community or property of others will be grounds for denial.
- Pending charges or outstanding warrants for any of the above will result in a suspension of the application until charges are resolved. Properties will not be held off the market while awaiting results of pending charges.
ANY APPLICATION NOT MEETING THE ABOVE MINIMUM REQUIREMENTS WILL BE PRESENTED TO THE PROPERTY OWNER FOR CONSIDERATION. THE PROPERTY OWNER SHALL HAVE THE RIGHT TO APPROVE, APPROVE CONDITIONALLY OR DENY ANY APPLICATION NOT MEETING THE ABOVE MINIMUM REQUIREMENTS. THE PROPERTY OWNER IS UNDER NO OBLIGATION TO ACCEPT AN APPLICATION NOT MEETING THE ABOVE REQUIREMENTS.
- If the property owner is willing to conditionally approve an application not meeting the above requirements, the property owner may require a security deposit in excess of one month’s rent and/or a co-signer.
- The property owner may require a security deposit in the amount of two month’s rent or more to offset the risk to the property owner on any application not meeting the above minimum requirements.
- Should the property owner be willing to accept a co-signer, the co-signer must have a verifiable source of monthly income in an amount no less than five (5) times the monthly market rental rate, minimum credit score of 720 and must meet the remaining minimum qualifying requirements as presented above. The co-signer must submit an online rental application, pay a nonrefundable application fee of $50.00, sign the lease agreement with the tenant, and must reside in the United States of America. A co-signer will be fully responsible for the lease if the occupying resident defaults.
ACCEPTANCE / DENIAL:
- It can take 2-3 business days to process an application. Delays in the process are typically due to incomplete information being submitted or difficulty reaching employers and/or landlords for verifications.
- All applicants applying together must qualify; denial of one applicant will result in the denial of all applicants. Providing false or misleading information will result in the denial of application or subsequent termination of tenancy upon determination of such falsified information.
- After application(s) are approved we will prepare a lease for signature via our online electronic signature program which will send an email to the email address listed on the application giving a link for electronic signature. Within two (2) business days of the date listed at the top of page one of the lease agreement the applicant must sign the lease and pay a nonrefundable Holding Fee equal to one month’s rent to remove the property from the market. Failure to comply with this requirement will result in your application being closed and the property being released to the next applicant.
- Holding Fees must be paid in the form of bank (certified) funds made payable to Keller Williams Realty Peachtree Road and delivered to our office during normal business hours. We do not accept payment of Holding Fees by cash, personal check, money order or our online payment system. At the time of occupancy, the Holding Fee will be credited as the first full months’ rent. Any prorations for the first month of occupancy will be credited to the second months’ rent.
- Applicant agrees should they refuse to take possession of the property on the “Commencement Date” listed in the signed lease then the Applicant shall be in default. In the event of default, Applicant acknowledges that the Landlord listed in the signed rental agreement with Applicant shall keep the Holding Fee as liquidated damages, which is compensation for holding the property off the market. Applicant agrees that the amount of lost rent in holding the property off the market is unknown and that this provision is intended as a good faith estimate of Landlord’s damages in the event of Applicant’s default.
- The Holding Fee is NOT the Security Deposit. We will collect the Security Deposit at the Move-in Inspection.
- After receiving the signed lease and Holding Fee our office will remove the property from the market, email you a list of utility companies and contact you to schedule your Move-in inspection of the property.
- Move-in inspections are performed Monday through Friday between the hours of 10:00 AM and 4:00 PM (excluding holidays). If Tenant requests a move-in inspection outside of this timeframe and management is available, an additional fee of $200.00 will be due prior to the move-in inspection. Applicant cannot move any items into the property or take occupancy of the property until the Commencement Date on the signed Lease Agreement and the Move-in inspection has been completed. Please allow a minimum of one to two hours to complete your move-in inspection.
- At the Move-in inspection, we will collect the Security Deposit. The Security Deposit must be paid in the form of bank (certified) funds made payable to Keller Williams Realty Peachtree Road. We do not accept payment of Security Deposits by cash, personal check, money orders or our online payment system. We cannot accept payment of the Security Deposit until the Move-in Inspection.
- We use the standard Georgia Association of Realtors (GAR) lease agreement with special stipulations and amendments.
- Rent is due on the 1st of each month. Rent is late after 5:00 p.m., on the 2nd day of each month, no exceptions. A 10% late fee incurs at 5:01 p.m. on the 2nd day of the month.
- Our leases are for a minimum of twelve (12) months with a minimum of one (1) month’s rent security deposit, sorry no exceptions.
- All leases must start within 30 days of an approved rental application(s) if property is vacant. For occupied properties, please check with a member of the property management team for availability.
- The lease start date (Commencement Date) must be on a business day. We do not start leases on weekends or holidays.
- A sample copy of our lease can be obtained via email. Please call the property management team at 404-492-9355 during normal business hours to request a copy.
Smoking: I understand that I am applying for a property which has a NO SMOKING policy. Tar and nicotine are not considered normal wear and tear. Smoke mitigation is extremely expensive. If I allow smoking to happen inside the property, I agree to be responsible for all damages and/or cleaning fees.
Pets: Property owners set their own pet restrictions; please check with the property management team during normal business hours to make sure the property owner will accept your pet prior to submitting a rental application. If the property owner of the property you’re applying for accepts pets, the below listed dog breeds or mixture of breeds are not allowed under ANY circumstances: Pit Bull, American Staffordshire Terrier, Staffordshire Bull Terrier, Chow, Doberman Pinscher, German Shepherd, Rottweiler, Perro de Presa Canarios, any Wolf-Hybrid or any mix of these breeds.
Normal Business Hours / Mailing Address: Our normal business hours are Monday through Friday from 9:00 AM to 5:00 PM excluding holidays. The phone number for the Property Management Team is 404-492-9355 and the fax number is (404) 806-0600. Holding Fees must be made payable to Keller Williams Realty Peachtree Road and can be Express Mailed to Hagler & Company c/o Keller Williams Realty Peachtree Road, 804 Town Blvd., Suite A2040 Atlanta, GA 30319.