With Propervest some owners may have slightly different criteria to approve a potential tenant but this is the standard we set. I just want to make it clear that we follow all Fair Housing Guidelines and the criteria may differ from landlord to landlord or building to building but will not vary within a certain building.
That said here are the criteria that are most common. If a tenant meets all of these criteria it is almost certain they will not have trouble getting approved with one of our properties.
- Have a credit score of 600+
- Make at least 3 times the rent in gross income (If rent is $500.00 you need to make $1500.00 before taxes and deductions)
- Been employed by the same employer for 12 months +
- 18 years of age or older
- Have 4 or fewer negative items on your credit report (collections, charge offs, delinquencies)
- No evictions within the last 5 years
- Not filed bankruptcy within the last 10 years
- No felony convictions / guilty plea especially involving violent crimes, drug distribution, or sex offences
- Rental verification from a landlord who is not family or friend
Keep in mind if a tenant does not meet all the criteria and are close to these guidelines there may be special arrangements made between them and the landlord. Examples of these arrangements are:
- Additional Deposit
- Co-signer
- X number of months upfront at signing
All background check guidelines are set to try and create the best living arrangement for the landlord, tenant, and neighbors and in no way are a judgement of the individuals character or credibility.
We are always looking for a pleasant and successful relationship with all our owners and tenants.
