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We select the most qualified applicant. The most qualified applicant is defined as the applicant that has met all the other requirements and has the highest RealPage AI Score. If there are multiple applications submitted with the same RealPage AI Score, the next criteria used is the lease start date. After an application has been approved, the applicant is allowed 48 hours to sign the move in evaluation, the lease and pay the deposit and a full month's rent. If that does not occur we move on to the next application. Application fees are $45 and are non-refundable. We incur these costs through our third-party screening company. We process applications typically within 1-3 business days, and our goal is to have an answer to you within 2-3 business days. Please allow for some time for an update. Incomplete applications will not be selected. Applications will be considered incomplete if items such as the landlord reference, proof of income, pet information or assistance animal information is not provided. Each applicant will be screened for leasing history, income verification, and criminal history. We use the RealPage AI Score that scores each applicant from 1 - 1000. If an applicant scores 650 or better the applicant will be accepted. The credit score is based on Equifax. The screening software score is based on the RealPage AI Score. The RealPage AI Score is the determining score. For group applications we average the credit scores and require an average score of 650 or better for the group.
For applicants receiving government rent subsidies, we will offer the option to provide lawful verifiable alternative evidence of the applicant’s reasonable ability to pay the portion of the rent to be paid by the tenant, including but not limited to government benefit payments, pay records, and bank statements, in lieu of credit history.
If you are applying with Co-applicants, for example roommates, each person will complete the application. We only count income from applicants in the group with a credit score of 650 or above. We only process complete applications so your application is not complete until all applicants in the group have completed the application.
Screening applications requires the use of your first and last name, previous addresses, phone number, email addresses, credit card number, social security number and other personal and non-public information. You may choose not to provide personal information, but if not provided you will not be able to rent a property from us.
Your lease start date is a determining factor. The lease start date needs to be within 14 days of application submittal. If your move in date is longer than 14 days from application submission, please wait to apply. If approved, the security deposit and one month's rent must be paid upon lease signing. The lease must be signed within 48 hours of application approval. Applicants are required to tour the property. The maximum number of residents is two persons per bedroom.
To process your application, we will need you to provide us with the following:
- A fully completed application: All tenants 18+ that will be living at the property must complete our online application and pay the $45 application fee. The application fee is paid through the tenant application website via credit card. Please make sure you have completed all fields as we will only process completed applications. If you are applying as a couple or group we will not start the initial screening process until all members of the group have submitted their online application.
- Government ID/ Drivers License: We will need a photocopy attached to the online application
- Proof of income for all applicants: Here are some examples of adequate income verification: most recent 2-3 paycheck stubs, full payroll print out from your employer, a copy of previous years tax returns, proof of retirement income, proof of any liquid assets (EX: bank accounts, stock accounts), last two bank statements, proof of any government income (EX: social security, welfare, disability), child/spousal support, or any other verifiable legal income. Written offer letter from employer including salary and start date. Letter from life insurance company stating applicant is beneficiary. Self Employment income verification: two most recent signed federal income tax returns or two most recent federal schedule C indicating self employment income or two most recent K-1statements showing owner share of cash distributions from the business.
*If an applicant is using some form of savings account instead of employment for income verification, the balance must total 3 x the annual rent. Copies of two most current statements from at least one banking or investment institution showing cash reserves, regular deposits from a named source of deposit .
Requirements to lease one of our homes:
- Credit/ FICO score of 650 minimum. For applicants with a government rent subsidy, we will offer the option to provide alternative evidence of financial stability in lieu of a traditional credit score.
- A 12 month average gross monthly income of 2.5 times the rental amount. EX: $1,000/ month rental price. Must have an average minimum of $2,500 gross income per month for 12 months. Or 12 month total income of 2.5 times the annual amount of rent. (If there is a group application we combine the gross monthly income of the group, but we can only count income for those applicants in the group with a credit score of 650 or above. Subsidy recipient’s income must be 2.5 times the amount of the rent portion they are responsible to pay.)
- No recent evictions.
- No current landlord debt.
- 18+ years of age.
- No negative rental history.
- Applicants with obsessive amounts of collections debt will be denied.
- No landlord debt over the past 7 years.
- No current liens.
- No current negative utility accounts.
Co-Signers are not accepted unless owner approves. If approved an increased security deposit is required.
Landlord Reference Check
We will contact your previous landlords. Please provide landlord references for all landlords within the past 3 years. We will verify through the county tax records that the landlord reference owns the property. If you do not have a landlord reference because you owned your home you will be asked to provide proof of homeownership. The following items will cause a denial of application: filing of an unlawful detainer by the landlord for unpaid rent, delinquent rent, utilities or damage to previous properties, three day notice served by previous landlord, water bed, aquarium or any other water filled furniture.
Background and criminal screening
We will use information provided by you to perform a criminal background screening. The following items may disqualify your application: Felony convictions, misdemeanor convictions or gross misdemeanor convictions for crimes against people, property or drug related activity.
Identification
Applicants must provide one of the following: valid social security card, passport, permanent resident card, visa.
We reserve the right to deny applicants if the applicant or one of the applicants in a group is verbally abusive, uses profanity or is disrespectful to landlord or landlord's agent causing the landlord or agent to believe there could not be a positive relationship between the two.
*If your application is approved, we may require 2-3 business days to get the property ready for move in. If you have not viewed the unit, we highly recommend doing so. Not viewing the property can be a reason your application is not considered over other approved applicants.
PETS: All pets will need to be screened through our third-party vendor petscreening.com. Please note having pets may be a reason your application is denied. You must provide a photo of your pet(s). The following dog breeds may cause your application to be denied: Dogs over 50lbs, Akita, Alaskan Malamute, American Bulldog, American Bully, American Wolf Dog, Basenji, Boerboel, Boxer, Bulldog, Bullmastiff, Bull Terrier, Bully Kutta, Cane Corso, Chow Chow, Doberman Pinscher, Dogo Argentino, German Pinscher, German Shepherd Dog, Great Dane, Irish Wolfhound, Malamute, Mastiff, Miniature Bull Terrier, Neapolitan Mastiff, Olde English Bulldogge, Pit Bull, Pit Mis, Rhodesian Ridgeback, Rottweilee, Siberian Husky, Staffordshire Bull Terrier, St. Bernard, Tibetan Mastiff, Wolf, Wolf Dog Mix. No aquariums that hold more than 5 gallons of water, No wild non-domesticated cats, reptiles, rodents or ferrets are permitted.
Assistance Animals
Our standard policy is to follow FHEO Notice: FHEO-2020-01 Issued: January 28, 2020. Assistance animal documentation must be provided.
We appreciate you taking the time to read our rental requirements. We look forward to the possibility of having you as a tenant in one of our properties. If you need any clarification on our rental requirements, please reach out to our office directly and call us at (760) 444-4601 or email: info@raintreepm.com