Application Screening Policy and Fee Disclosures

APPLICATION POLICY:  We offer an application to anyone who requests one. ONE APPLICATION FOR EACH ADULT WITH A NON-REFUNDABLE $40.00 FEE.  Your application WILL NOT be considered if the information is not completed in it’s entirety.  We review completed applications in the order in which they are received.  We require 2 – 5 business days for processing.

The following items must be returned to be considered a complete application:

  1. Completed application with a $40.00 non-refundable fee
  2. Photo ID
  3. Last three (3) pay stubs
  4. Photo of pet (if applicable)
  5. Bank statements (necessary for self-employed, unemployed or proof of income from institutions)
  6. All signatures
  7. All landlord names and phone numbers

PRIOR RENTAL HISTORY:  We require three years of rental history.  If you are related by blood or marriage to one of the previous landlords listed or your rental history does not include at least one previous landlord, we may require additional deposits.

SUFFICIENT INCOME/RESOURCES AND EMPLOYMENT:  Net household income of at least three times the amount of one month’s rent must be verifiable through pay stubs, employer contact, bank and/or tax records.  We require verifiable employment of two years.  Monetary assets used for qualification purposes must be verifiable through bank statements covering the most recent three months.

CREDIT/CRIMINAL/PUBLIC RECORDS CHECK:  A credit check and/or a criminal/public records check will be performed.  Negative reports require additional deposits and may result in denial of the application.

YOUR APPLICATION MAY BE DENIED IF:

  • You, your roommate(s), your guest(s) or a family member demonstrate aggressive, obnoxious or objectionable behavior either at a previous residence or to our staff.
  • We are unable to verify information on your application.
  • You misrepresent any information on the application.  If false information is discovered after the rental agreement is signed, Preferred Residential has the right to terminate your tenancy.
  • In the past five years you have been convicted of the manufacturing or distribution of a controlled substance or any type of crime that could be considered to be a threat to others.
  • Previous landlords would be disinclined to rent to you for any other reason pertaining to the behavior of yourself, your pets or other allowed persons on the property during your tenancy.
  • Previous landlords would be disinclined to rent to you again for non-payment of rent, late fees, legal costs or damage claims.
  • In the last five years you have been evicted or caused substantial damage to a rental.
  • Your credit score is under 600.

 

Security Deposit Guidelines

Base Deposit = Rent + $100.00

Pet Deposit is an additional $200.00 (minimum) per pet

Undeclared pet(s) may be grounds for termination

PETS UNDER ONE (1) YEAR OF AGE WILL NOT BE CONSIDERED

 

Inadequate Credit/Rental/Employment History

One item     = Base Deposit + $300.00

Two items   = Base Deposit + $400.00

Three items = Two Times Rent + $200.00

 

Non-Compliance Fee Schedule (per occurrence)

  • Late charge fee                                                                        $75.00
  • Dishonored check (NSF Fee)                                                   $25.00
  • Smoke alarm/CO alarm tampering fee                                    $250.00
  • Parking violation                                                                       $50.00
  • Failure to clean up pet waste or garbage                                 $50.00
  • Unauthorized/undeclared pet                                                    $50.00
  • Failure to pay utilities                                                                $50.00
  • Unauthorized roommate                                                          $100.00
  • Smoking violation                                                                    $150.00
  • Non-removal of satellite dish upon move out                          $100.00

 

Redmond Properties

 If renting in the City of Redmond and Tenant pays utilities, Tenant will receive an invoice from Preferred Residential for the actual amount.  If full payment is not made within ten (10) days, Tenant will be charged a non-compliance fee of $50.00 per occurrence and grounds for termination will apply.

Other Important Notes

  • All properties managed by Preferred Residential are SMOKE FREE.  Therefore smoking is NOT allowed inside the unit or garage of any property.
  • No marijuana may be grown or consumed in the home or on the premises without the express written consent of the owner.
  • All tenants are required to have renters insurance.  Preferred Residential should be listed as an “Interested Party.”  A copy of the certificate shall be provided before occupancy.
  • If a Tenant’s move-in date is on or after the 20th day of the current month, the pro-rated amount plus the following month’s rent will be due at the move-in signing date.

Please read your rental agreement carefully.  Preferred Residential takes each provision of the agreement seriously.  Our intention in providing such an agreement is to insure that our tenants are given the best housing we can provide.  Screening guidelines may be subject change at any time and may be different from one property to another.

I HAVE READ AND AGREE TO THIS STATEMENT OF POLICIES AND PROCEDURES

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Applicant Signature                                                                                 Date