RENTAL APPLICATION POLICY
Please Read Carefully:
Please submit a copy of your identification card and proof of income either by faxing them to 1 (888)-777-3711 or emailing them to firstname.lastname@example.org or bring them to the main office located at 7025 North 56th Avenue, Glendale AZ 85301.
RENTAL APPLICATION POLICY: Mom N Pop’s Realty LLC dba Arizona Property Management & Investments (hereinafter APMI) “Rental Application” forms are required from EACH applicant over 18 years of age who will be residing in the property. APMI “Rental Application” form must be completed in its entirety, be signed by the Applicant, and be submitted with a $45 application fee* paid in certified funds; money order or cashier’s check made payable to Arizona Property Management & Investments or paid online via a credit or debit card (If you are paying online you must pay with your own debit or credit card). Property management staff will not process incomplete application(s), nor will the Applicant be considered for the available property and the property will remain on the market.
PERSONALLY VIEW THE PROPERTY: APMI does not rent properties “Sight Unseen” and requires EACH Applicant over 18 years of age who will be responsible for rent payment to either personally view the property or have their representative view it on their behalf prior to submitting an Application for said property. Applicants who have not viewed the property by themselves or by their representative prior to submitting an application will not be considered for the available property by Arizona Property Management & Investments.
RENTAL POLICY AGREEMENT: APMI “Rental Policy Agreement” is required to be read and signed by EACH Applicant over 18 years of age who will be residing in the property. By signing the “Rental Policy Agreement”, the Applicant is acknowledging having read the agreement and is agreeing to abide by APMI rental policies, procedures, and the terms set forth therein.
EARNEST DEPOSIT: An earnest deposit equal to fifty percent (50%) of the listed monthly rental rate is required once the Applicant(s) have been approved. The amount of earnest deposit may vary from each property. However, the earnest deposit will never be less than $500.00. This earnest deposit is non-refundable should the tenant not take possession of the property on the date designated on the lease agreement. Methods of payment for the Earnest Deposit must be paid in certified funds: money order or cashier’s check made payable to Arizona Property Management & Investments.
Applicant understands that once the application has been approved, an earnest money deposit is required for taking the property off the market. It will be deposited in the Mom N Pop’s Realty LLC Security Deposit Trust Account. Once the property owner approves the Applicant and the lease agreement is executed, the Earnest Money deposit will be credited to the required security deposit. Said deposit will be NON-REFUNDABLE if the Applicant fails to take occupancy on the date specified or decides that they no longer want the property. Cashier’s check or money order is required for payment of the deposit(s) and the first month’s rent.
Applicant understands that once the lease agreement has been fully executed and the earnest deposit has been received, the property will be taken off the rental market and reserved for the Applicant. At this point, other potential applicants will be turned away.
Applicant understands that submitting an Application does not take the home off the market. We process completed applications on a first-come first-served basis and the process may take up to five (5) business days. If we are unable to verify any of the information contained on the “Rental Application,” it will delay the whole process and someone else might get the home instead.
CREDIT CHECK/PROCESSING FEE AND VERIFICATION POLICY: Please be advised that APMI will obtain, on behalf of the owner, a background check, which includes a credit report, criminal history, judgments or evictions history, for EACH Applicant over 18 years of age who will be residing in the property. By signing the “Rental Application” form and “Rental Policy Agreement,” the Applicant authorizes APMI and/or its agent(s) to obtain credit, criminal, eviction and sex offender report(s), to contact Applicant’s present and previous employer(s), bank(s), personal reference(s) and Applicant’s present and previous landlord(s).
Applicant agrees to reimburse APMI for any and all bank charges, or any fees incurred due to the payment on a cashier’s check or money order, or credit/debit card being intentionally stopped or returned due to insufficient funds.
APMI uses an outside agency/vendor for the processing of all application packages. Generally, during normal business hours, the credit report is obtained within 24 hours after processing has begun. The lengthiest part of the application process is reference verification, so, if Applicant knows that one or more of their references may be difficult to contact, please let APMI know in advance or perhaps provide alternate contacts telephone numbers. Additionally, if there is anything negative on the Applicant’s credit history or if Applicant’s employer, present, and or/previous landlord(s) would not recommend the Applicant as a resident, then, please provide a detailed explanation with the completed application package.
APPLICATION FEE: APMI requires a payment of $45.00 per Applicant over the age of 18, which is to be used to screen applicants with respect to credit history and other background information and to offset a portion of the costs associated with the processing of the Applicant’s application.
The Application Fee is non-refundable for any reason.
QUALIFICATION STANDARDS: APMI reviews four (4) areas of the completed application package during the qualification process – Credit History, Criminal History, Rental/Ownership History, and Income Level.
To qualify for the available property with APMI, Applicant must have a minimum of: two (2) years established credit history in good standing, two (2) years verifiable references from present and previous landlord and gross income of approximately (3) three times the monthly rent amount.
All residents over the age of 18 should apply individually and may combine income to qualify only if they will be named as Tenant on the lease agreement. We must be able to verify employment history. If you are self-employed, we will need tax returns for the last two (2) years or verification of income through bank statements for the past ninety (90) days.
When an employment reference or department does not verify employment or salary earnings, proof of employment may be established by providing the last two (2) consecutive pay stubs. If you are combining incomes to qualify, please provide a source of income for each Applicant. Proof of income may also be established by providing a copy of the offer letter of employment from the Applicant’s new company or by providing bank statements with balances equivalent or greater than the gross income requirement listed above.
CURES: If the Applicant does not meet the above qualifications standards, in some cases, the following cures may be used at the sole discretion of Homeowner (with owner’s written consent) only.
Guarantors/Co-signers, in some cases, may be used to cure negative credit, insufficient gross monthly income (within $1,000.00) of required amount), little or no rental history, or lack of stable income for six (6) months or longer. A Higher Refundable Security Deposit no more that 1+1/2 times the rental amount, in some cases, may be used to cure negative credit, insufficient gross monthly income (within $1,000.00 of required amount), little or no rental history, or lack of stable income for six (6) months or longer.
If the Applicant knows they have something derogatory in their application package, please be prepared to pay a higher security deposit or provide a guarantor. Applicant should not apply unless they are certain they want the property.
BANKRUPTCY, EVICTIONS, JUDGMENTS, UNPAID CHARGES, HIGH DEBT TO INCOME RATIO AND THE LIKE:
Bankruptcies – Bankruptcy may be cured with a guarantor or higher security deposit if the bankruptcy has been discharged or has occurred at least seven (7) years ago and all current obligations have been paid in a timely manner. Evictions – Applicant may not qualify for a property with APMI if they have ever been evicted. Evictions will be reviewed on a case-by-case basis and will only qualify with owner’s written consent. Judgments – If Applicant has any judgment(s), Applicant will be required to pay the judgment amount in full, provide proof of payment and may be required to provide a guarantor and/or higher security deposit amount if they want to rent the property. Applicant’s monthly debt obligation combined not including rent must be less than 50% of applicant’s total combined income on Transunion/Equifax/Experian credit bureau.
GUARANTOR QUALIFICATION POLICY: To qualify as a Guarantor for an Applicant with APMI Guarantor must have five (5) years of excellent to good credit history. Guarantor will not qualify as a Guarantor with a negative credit history. Additionally, Guarantor must have at least five times (5X’s) the monthly rental rate in verifiable gross income. All income must be verifiable and must have been stable for at least six (6) months or longer.
FIRST MONTH’S RENT POLICY: The first (1st) month’s rent will be due and payable at the lease start date time. If the lease starts on a different date than the first of the month, rent will be pro-rated. If the prorated rate amount is less than $900, tenant shall pay prorated rent amount plus the following months’ rent upon move in. Payment for the first (1st) month’s rent must be paid by certified funds (cashier’s check or money order ONLY!), made payable to Arizona Property Management & Investments.
MONTHLY RENTAL TAXES AND ADMINISTRATION FEE: Rental taxes may apply. The percentage may vary from city to city. A Monthly Administration Fee of 2.5% will be added to the rent amount to all properties.
SECURITY DEPOSIT POLICY: APMI, standard security deposit is generally equal to one month’s rental rate, which will be due on the lease start date less the earnest deposit already received. All deposits must be paid in full upon move-in and by certified funds (cashier’s check or money order ONLY!), made payable to Arizona Property Management & Investments. The security deposit is not to be used as last month’s rent.
ACCEPTANCE OF APPLICATION/VERBAL APPROVAL/LEASE SIGNING
If APMI approves the Applicant, Applicant agrees to execute APMI Lease Agreement and all incorporated addenda for the property within two (2) business days of verbal approval and agrees to pay the earnest deposit. Applicant agrees that ALL parties to the Lease Agreement [except any Guarantor(s)] will be present together at one specified time during APMI’s normal business hours which are Monday through Friday from 9:00am to 5:00pm to sign the Lease Agreement. Applicant(s) understand that APMI will not perform Lease Agreement signing via fax, mail or overnight service unless Applicant lives out of state. Applicant understands that if Applicant does not execute APMI’s Lease Agreement within two (2) business days of verbal approval, APMI, may consider another Applicant.
OFFERS: Should Applicant desire to place an offer on an available property, said offer must be in writing and submitted with the completed application packet. Offer means request of changes in terms and request for modifications or repairs. APMI will review the offer with the application and will notify the Applicant of the result of the offer. Please note that the entire application packet must be submitted with the offer– prior to any negotiations taking place. Offers requested after approval of the application will be declined.
DENIED/DECLINED POLICY: Should the Applicant’s application be declined for any reason, the Applicant will be notified by telephone or in writing via mail to the current address listed on the application or via email.
LEGAL ACTION: Note that the binding lease agreement will be subject to APMI’s acceptance of Applicant’s application packet, and subject to APMI and Applicant entering into APMI’s Lease Agreement. However, this Rental Policy Agreement will be binding upon execution by APMI and Applicant. If any legal action or proceeding is brought by either party to enforce any part of this Rental Policy Agreement, the prevailing party will recover, in addition to all other relief, reasonable attorney’s fees and costs. The Rental Policy Agreement shall be governed by Arizona law, and jurisdiction is exclusively conferred on the State of Arizona.
PET REGULATIONS: Policies on pets vary according to the property. Acceptable pets shall be domesticated dogs and cats one year and older. Prohibited pets shall include pets over thirty (30) pounds, dogs on the restricted breed list, fish, reptiles, rabbits, vermin/rodents, pigs, foul, livestock and non-domesticated animals. The following breeds of dogs or mix of breed from the following dogs are strictly prohibited without the Landlord’s written consent as they may prevent a homeowner from securing homeowner’s insurance: Akita, Alaskan Malamute, Chow, Doberman Pinscher, German Shepherd, Great Dane, St. Bernard, American Pit-Bull Terrier, Presa Canario, Rottweiler, Siberian Husky, Staffordshire-Bull Terrier and Wolf Dogs. However, most of our owners do not permit cats. (Exceptions: Assistive Animals Only). Pet fee(s) are strictly enforced. The Pet Fee is $250.00 non-refundable per pet and for a maximum of two pets per property with the written consent of the Landlord. If the Applicant indicates that an animal will be living on the property, Applicant shall provide the breed, sex, age, weight, name, proof of vaccination, and the current county license registration number. If the Applicant indicates that an assistive animal will be present or occupying the property, Applicant must disclose the animal, provide additional documentation, and obtain prior written permission from Landlord before adding an assistive animal to the lease.
CLEANING DEPOSIT: Cleaning deposit is a minimum of $300 depending on the property and may or may not be refundable depending on your lease agreement. If refundable, it will be combined with the security deposit on the lease agreement.
RENTER’S INSURANCE: Tenant is required to have renter’s insurance for the entire duration of the lease with a $100,000 minimum liability policy. All Tenants named on the lease must be named on the insurance policy. Additionally, Mom N Pop’s Realty LLC must be added to the renter’s insurance policy as an additional interest.
Applicant (s) acknowledge that Arizona Property Management & Investments Realtors and representatives represent the Seller/Landlord as Seller’s/Landlord’s Broker.
EQUAL HOUSING OPPORTUNITY PROPERTY: We do business in accordance with the Fair Housing Act. (The Civil Rights Act of 1968, as amended by the Fair Housing Amendments Act of 1988). IT SHALL BE ILLEGAL TO DISCRIMINATE AGAINST ANY PERSON BECAUSE OF RACE, COLOR, RELIGION, SEX, (PHYSICAL OR MENTAL) DISABILITY, FAMILIAL STATUS (HAVING ONE OR MORE CHILDREN), OR NATIONAL ORIGIN in the sale or rental of housing or residential lots, in advertising the sale or rental of housing, in the financing of housing, in the appraisal of housing, and in the provision of real estate brokerage services. Blockbusting is illegal. Anyone who feels he or she has been discriminated against should send a complaint to: U.S. Department of Housing and Urban Development Assistant Secretary of Fair Housing and Equal Opportunity, Washington, D.C. 20410