Residential Rental Criteria
Dear Applicant,
Thank you for choosing to apply to rent a Hometown Management property! We strive to provide a high-quality experience to our residents, and we are seeking long-term, high-quality residents.
All of our business operations, including our applicant screening process, fully comply with all federal, state and local laws including Fair Housing.
Scoring Criteria:
Applications are processed on a point system and scored based upon factors including, but not limited to rental history, income, employment, criminal and eviction history, resident/credit score and legal events. If your application does not meet our minimum qualifications, an additional security deposit may be required.
Your gross income from a legal source must be at least 3 times the monthly rent. We do combine all adults' income. If the income is less than 3 times, it will result in this application being automatically denied.
All applicant(s) must have a combined average resident score of 600 or above. Similar to FICO or Vantage, TransUnion's Resident Score is in a range of 350 to 850. While Resident Score will not completely align with the more common FICO or Vantage score, there will naturally be some correlation. Combined average scoring falling below this will result in the denial of the application.
Co-signors will not be accepted.
If you are a registered sex offender or were convicted of domestic violence; this will result in the denial of the application. Felony convictions may result in the application being denied. A negative rental reference, including late payments of rent, may result in the application being denied.
If you have been evicted from a property, we consider this a legal event, and the application will be denied.
If you have an open collection from a landlord or property management company, we consider this a legal event, and the application will be denied.
We do not allow more than 3 unrelated adults (immediate family members) in a rental home.
A valid government-issued photo ID is required from all applicants. If ANY information is found to be false, the application will be denied. A higher deposit may be required depending on the scoring outcome.
If your lease start date is on or after the 20th day of the month, you will be required to pay the next full month's rent plus the Broker fee on the lease start date.
Next Steps:
Each occupant, age 18 and above, must complete an individual application and pay a NONREFUNDABLE application fee of $50 per adult. Application fees must be received BEFORE the application can be processed. **The cost of the application fee is based on average expenses of what Hometown Management incurs.
1. An incomplete application will delay the process and may result in another applicant being approved while we wait for all lease parties to complete an application and for you to provide your information.
2. Once we receive your completed application, we will have it fully processed and notify you of the results within 48 business hours of receipt.
3. If approved, you will have until 9:30 a.m. the following business day to sign the lease AND pay the security deposit online. We will place the property on a temporary hold until that designated time, however, until we receive the signed lease AND the security deposit, the property will be marketed as available for rent.
4. In the case where we receive more than one application on a property, we will process ALL applications and approve the highest-scored applicant. If your application is approved with fewer points, we do hold applications open for 60 days. You may apply your pre-approved application towards any of our other properties within those 60 days. After 60 days we will have to reprocess the application.
In addition to the rent due per month, a Broker Fee of $25.00 per month will be charged and must be included with the monthly rent payment.
**PLEASE READ: APPLICATION ERROR INSTRUCTIONS**
Be sure to have all documentation prepared before starting this application. (Government-issued ID & proof of income. Ie: 2 most recent paystubs, an offer letter for new employment, or last year’s tax return IF you are self-employed.)