Posted by capitalhomeslp on Jul 2, 2012 in Minimum Rental Requirements | 0 comments
Our minimum standards as follows:
Minimum Standards for Rental Applicant
|We will be unable to approve an application for any one the following reason(s):
- The credit report shows over five 30, 60, or 90-day late payments within the last 12 months OR FICO credit score below 550.
- The credit report shows at least one eviction or collection from a former landlord
- The applicant does not have sufficient prior rental history (at least 2 good landlord references) or employment history (at least 3 pay stubs on the current job or 12 months or the prior job if this is a new job in a new town)
- The applicant can not show an income of at least 3 times the rent and utilities
If the applicant is turned down for any of the above reasons, our policy may still allow us to rent to him if he can either (1) provide a co-signor who has acceptable credit and who owns real estate in the state of Tennessee or (2) pay an additional month’s rent in advance and stay at least 60-days paid up at all times (this may vary depending on the severity of the credit history).
If one of the following is true, we will not be able to rent to the applicant under any circumstances:
- Criminal history that exceeded our acceptable minimums (felony conviction within the last 5 years OR sex crime conviction ever).
- Any item on the application was falsified.
We will return the applicant’s deposit within five business days if they are turned down.
Click here for available properties. Click here for a printable Rental application. (Adobe Acrobat required for the rental application)