Guidelines And Standards For Rental Properties Managed By Lepi And Associates Real Estate Services
Guidelines for Rental Applicants
1. Applicant(s) must complete a rental application and provide proof of income and picture ID.
2. Applicant(s) must complete and sign authorization for background and credit check.
3. Application and authorization for credit and background check must be completed for all adults that will be occupying apartment/house. Any adult that resides in the property must have their name on the lease.
4. Each applicant must pay a twenty-five dollar ($25.00) non-refundable rental application fee.
Rental Approval Standards
Background check must be acceptable to property manager. Property owner reserves the right to deny any applicant.
Credit check must be to a score of 600 or more. We also like to see a 4 to 1 income/rent ratio (i.e. if rent is $600 per month, gross weekly income should be at least $600 per week).
The property manager may make an exception if credit check is not to a score of 600. However, rent amount may be negotiated and/or additional security may be required or a cosigner may be required.
Approved tenant(s) must pay the security deposit to hold apartment/house.
Apartment/house will not be held for more than one (1) week without rental payment.
Prior to occupying apartment/house Tenant must pay first month’s rent, security deposit and give proof of renter’s insurance and name property owner as a co-applicant on the policy.
Prior to occupying apartment/house Tenant must have all utilities transferred into their name.
If the lease term commences on any other day than the first of the month; the second month’s rent will be pro-rated. If the lease term occurs after the 25th of the month, the prorated amount, plus the first month’s rent, shall be collected prior to occupying.
Please check with the property manager to see if the property you are interested in accepts pets and what the fees are. A non-refundable pet deposit is usually charged per pet and some charge an additional monthly fee. This deposit is for the privilege of being able to have a pet; any damages done by the pet will be deducted from the security deposit and if not sufficient an invoice will be given to tenant with payment due upon receipt.