Rental Application Policy and Procedure.

In order to best serve you, we feel it is important that you are made aware of and fully understand our application policies and procedures.

It is the policy of this management company that applications must be complete and all application fees paid prior to any application being processed. All completed applications are processed on a daily basis (Mon-Fri). Application fees are non-refundable.

Application Checklist:

1. FORMS

Completed HomeRiver Group® application (One for each individual 18 years and older).

2. PAID FEES

Application fee paid for all applicants.

3. INCOME VERIFICATION

Income verification submitted for each applicant.

4. DOCUMENTS

Identification documents submitted for each applicant (Current State-Issued Photo IDs or a Current Passport are acceptable forms of ID).

Complete your application process even faster by submitting your verification and ID documents when you submit your application.

Qualifying Criteria:

  • Gross income must be at least 3 times the market rent of the property for which you are applying and must be fully verified. For most applicant situations, we verify income using paystubs and a written employment reference. For self-employed applicants, we require the last 60 days of bank statements and a prior year tax return showing required income amounts. Applicants receiving social security or other federal assistance must provide documentation thereof, including a statement of benefits and bank statements showing the income being received. Court-ordered spousal or child support may be considered with consistent payment history for the prior 12 months.
  • Applicant must provide information for their current and immediately previous landlords and have a minimum of two years of verifiable rental history. Verifiable rental history for a period of at least 24 months, in which all the lease terms have been satisfactorily fulfilled, is required. Applicants with late or bounced payments, but an otherwise positive Landlord reference, may be approved with additional deposit.
  • Applicant must physically reside in the property for which they are applying. Applicant must live in the rental unit and must disclose all persons that will be occupying the unit. All persons residing in the property are subject to background checks prior to occupancy. All persons 18 years of age or older must be a leaseholder and qualify for the unit with the applicant.
  • A criminal background check will be completed on all occupants 18 years of age or older. Criminal records must contain no convictions for felonies within the past 7 years involving the manufacture or distribution of controlled substances or physical violence against other persons. For other felony convictions, we will conduct individualized assessments that take into account mitigating factors, such as facts & circumstances surrounding the criminal conduct, age at time of conduct, evidence of good tenancy before and after conduct, nature & severity of conviction and the amount of time that has passed since the conviction. Criminal history which indicates that an applicant’s tenancy would constitute a direct threat to the health or safety of other individuals or whose tenancy could result in substantial physical damage to the property of the owner or others may result in rejection of the application.
  • If rental property is a single-family dwelling or single unit, landlord reserves the right to ask for a security deposit as required by the property owner that may be different from our standard deposit amount.
  • If a prospect is declined based on the criteria listed, landlord reserves the right to take adverse action. This may include denial of the application, the requirement to pay a higher security deposit, or the requirement to obtain a qualified co-signer. If a co-signer is required, they must also apply and pay the application fee and must also meet all the criteria of an applicant (including a Tenant AI Score of 650 or higher) AND have verifiable gross income of at least 4 times the rent.
  • Occupancy limits have been established by the size of the unit. Maximum number of persons allowed is as follows (unless otherwise defined by statute or local ordinance): No more than 2 occupants per bedroom plus one.

Falsifying information on an application will be grounds for immediate rejection of the application.

In order to view a rental home you must show a form of identification. Your driver’s license or an alternate second form of identification will be photocopied. Please have identification with you. We do business in accordance with the Federal Fair Housing Law. We do not discriminate against any person because of race, color, religion, sex, national origin, familial status or disability. By applying, you acknowledge that you have read and understand the above qualifying criteria.

Screening Details:

The Artificial Intelligence Screening Score examines the criteria listed above and assigns a score to each applicant, helping determine whether you qualify to become a renter. Here’s what they mean:

  • Declined: 0-499
    • Your application does not meet the qualification criteria.
  • Conditional: 500-649
    • Your application isn’t ideal, but you may still be able to qualify if you meet additional conditions, such as paying a higher security deposit, using a co-signer, or meeting other requirements.
  • Accepted: 650-1000
    • Your application meets or exceeds all the qualification criteria.
Category and Importance.
  • Ability to Pay Rent (Pass/Fail)*
    • Minimum monthly gross income-to-rent ratio greater than or equal to 3.0
  • Credit History (Pass/Fail)**
    • Maximum balance of unpaid collections (including past due accounts): $200.00
  • Residency History (Pass/Fail)
    • Landlord-Tenant Court, Collection, or Eviction Records – None in Last Seven (7) Years
  • Criminal History: Felony Convictions (Misdemeanors Not Considered)
    • None in Last Seven (7) Years (Pass/Fail):
      • Drug Manufacturing or Distribution
      • Physical Offenses Against Persons (Violent-Fatal, Violent-Non-Fatal, Kidnapping, Sex Offenses)
    • Items Considered/Reviewed Individually
      • Property Offenses (Theft-Related, Destruction Related)
      • Financial Offenses (Fraud, Bad Check)
      • Drug Use Offenses (Marijuana, Other)
      • Other Felony Offenses (Motor Vehicle & License, Prostitution, Alcohol, Wildlife, Government Obstruction)

*Assets may not contribute to qualifying income.

**Credit factors, such as delinquency, percentage credit usage to limit, bankruptcy, etc. may influence Landlord’s decision to lease the property to you.

Apply Today.

THE ONLINE APPLICATION PROCESS IS SIMPLE – AND, MOBILE FRIENDLY.

Currently, all HomeSource properties are managed exclusively by the HomeRiver Group.
Follow the link below to view properties and apply online.