Application Requirements
BEFORE YOU START YOUR APPLICATION.
Thank you for your interest in one of our rental properties. In order to process your application we will need all application fields to be filled out, as well as all supporting documents to be submitted along with the required application fee. If your application is incomplete or the funds are not submitted, it will not be processed. To complete this rental application, you must be prepared to provide 2 years of residential history as well as the contact information for your employer and landlord references. You will also be asked to provide information on your monthly income. As a general rule of thumb, the combined gross income (before taxes), of all adults that will live in the property, should be at least three (3) times the monthly rent amount, for the property you are applying for.
QUALIFICATIONS.
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Income must be 3 Times the rent to qualify (Combined Gross Household Income)
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Acceptable Landlord / Mortgage History for the last two residing addresses
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Employed for At Least 1 Year
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650+ FICO Score
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Acceptable Credit History (having more positive than negative accounts)
REQUIREMENTS.
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NO EVICTIONS WITHIN THE LAST 7 YEARS
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NO FORECLOSURES IN THE LAST 3 YEARS
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NO BANKRUPTCIES IN THE LAST 2 YEARS
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We must be able to contact your previous landlords or mortgage companies. Please contact each of your listed references (landlords, employers, banks and your Mortgage Company, etc.) and authorize them to release information to us when contacted
NECESSARY DOCUMENTS.
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Two forms of ID; one of which needs to be a State issued Driver’s License or I.D.
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Lost 3 months of Pay Stubs and 3 months Bank Statements
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Self Employed - Last 2 Years Income Tax Returns
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Pet Photo (if applicable) ADDITIONAL DOCUMENTATION.
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All applicants must provide us with copies of bankruptcies, judgements, SSI, child support, tax lien papers, and rental receipts if applicable
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On occasion, we may request that you provide copies of certain documents to clarify information on your application. For example: military personnel will need to provide copies of their L.E.S, self- employed applicants need to provide the summary page of their last tax return along with 6 months of personal bank statements
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In addition, provide us with the requested documents within 24 hours of submitting your application. Delays may result in you missing your chosen property or a change of your move-in date
CO-SIGNER.
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Allowed only in specific circumstances
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Co-Signer must fill out an application and qualify on their own, independent of the other applicants
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Co-Signer is liable under each term specified in all contracts
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CO-SIGNERS WILL BE HELD RESPONSIBLE FOR THE TERM OF THE LEASE OR ANY EXTENSION THEREOF.
APPLICATION FEE.
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• $30.00 PER APPLICANT over the age of 18 including the Co-Signer (For example, 3 adults x $30= $90). Application will NOT be considered.
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Application Fees to Be Paid Online.
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All adults over the age of 18, to be living in the property, must complete an application form and pay the necessary fee. (See application and credit check fee receipt form).
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This fee is used to pay for the credit report, processing fees, and verification of wages and other information.
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PET REQUIREMENTS.
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A welcoming and safe environment is paramount to all our residents. To help ensure ALL our residents understand our pet and animal-related policies (No Pet and Animal Policy / Pet Policy / Animal Policy) we require EVERYONE to complete a third-party screening and review process. This process ensures we have formalized pet and animal-related policy acknowledgments and more accurate records to create greater mutual accountability.
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PET APPLICATION AND DISCLOSURE (REQUIRED EVEN IF NO PET) Please copy and paste the link into another browser to get started: https://sankofarealty.petscreening.com An application must be completed even if you don't have pet. No fee is charged for this application.
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For each pet there is a pet rent of $50.00 for each pet per month. All pets require a $300.00 additional fee that is required for each pet. A photo of all pets is required on submission of your application. Pets are subject to Owner approval.
FEES ASSOCIATED WITH MOVING IN.
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Move-in date, rental amount, and total move-in cost (rent + security deposit) is shown on the leasing agreement and is non-negotiable
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Renters Insurance: Resident must supply company with renters insurance with a minimum Liability Insurance of $300,000. Sankofa Realty must be listed on the policy as Additional Insured. This is required before you receive keys to the property.
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All funds (deposits and rent) must be in the form of cashier’s check or money order. We do not accept personal checks or cash.
*EACH RESIDENT OVER THE AGE OF 18 MUST SUBMIT A SEPARATE RENTAL APPLICATION AND PAY AN APPLICATION FEE per applicant. BY SUBMITTING THIS APPLICATION I ACKNOWLEDGE THAT I HAVE REVIEWED THE PROPERTY AND FIND IT IN ACCEPTABLE CONDITION. ALSO, WITH THE UNDERSTANDING OTHER APPLICATIONS MAYBE SUBMITTED OR IN PROCESS.
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*CO-SIGNERS ARE ALLOWED IN SOME SITUATIONS AND MUST SUBMIT A SEPARATE RENTAL APPLICATION, AND QUALIFY ON THEIR OWN, INDEPENDENT OF THE OTHER APPLICANTS.
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*UPON QUALIFYING, THE FIRST MONTH’S RENT MUST BE PAID WITHIN 24 HRS, TO SECURE THE PROPERTY. IF FUNDS ARE NOT RECEIVED WITHIN 24Hrs YOU COULD LOSE THE PROPERTY TO A BACKUP APPLICANT SO WE ASK THAT THE FUNDS ARE REMITTED WITHIN THE 24-HOUR PERIOD.
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