Thank you for your interest in one of our properties. The information provided is a summary of the qualifications we look at for each applicant.
Applications are processed as they are received. Once the application has been completed and application fee has been paid the application fee is non-refundable. Decisions are made once applicants have completed our Application Interview phone appointment and provided all supporting documentation
• Each person 18 years of age or older that will be living in the unit must submit an application and pay the application fee. The application must come from their individual email. Applicants CANNOT use the same email address or someone else’s email for the application.
• No more than 2 occupants per bedroom
• No smoking of any kind is allowed in, on, or around any of our properties including balconies, garages, and common areas.
• Any evidence that an applicant has provided false information on the application will result in an automatic denial.
• Rude, disruptive, threatening, or harassing behavior towards Market Edge Realty staff, clients, residents, or vendors will disqualify application.
• We strive to approve or deny all applications within 72 business hours, but we cannot guarantee that the process will not be delayed due to delays in receiving information from 3rd parties. Excessive inquiries regarding status of application may lead to a decline.
Do you have verifiable rental history?
· At least one-year verifiable contractual rental history from a third-party landlord, or proof of home ownership. Lack of verifiable rental history will require an elevated deposit.
· Roommates, family, or friends do not count as verifiable history.
· If you were not on the lease the verification will not count and may lead to a decline.
· Two or more payments within any 12-month period, rental history reflecting past due and unpaid rent, or rental references demonstrating lease violations are grounds for decline.
· Eviction filing or judgement within the last 10 years is a decline.
Is your take home pay (Net Pay) 3x or more than the monthly rent?
· We require one month of recent pay stubs to verify income.
· If you are self-employed, we require 3 months of complete bank statements or professionally prepared tax returns for the previous year plus the YTD profit and loss from your tax professional.
· High debts, collections and liens will have an impact and may be grounds for decline.
· A guarantor or payment of full lease term up front may be considered for some properties.
· Proof of savings or investments may help if your income is too low.
· Monthly debit obligations will reduce your take home pay on proof of income.
· Proof of earnings from social security, child support, alimony or spousal support must be documented. Unverifiable income will NOT be considered.
· Some of our properties consider Section 8. We require the searching papers be submitted with application in a single PDF document. City of voucher must match City of property at application and number of bedrooms. We do not hold the property for the voucher to be transferred.
Is your credit good?
· Our credit reporting company provides us with a “FICO” score for renters. The better your score the better your chances.
· Bankruptcies must be discharged.
· Decisions are made on the report information we receive. Payment of derogatory accounts after we have rendered a decision will not change the decision.
· All decisions are final.
Pets and Animals
· None of our properties accept pet cats.
· Some properties consider one dog under 25 lbs
· We require an application for all pets and animals to be submitted via https://marketedgeaz.petscreening.com.
· Additional pet rent, administrative fee, and security deposit may apply.
Guarantor Qualifications
In cases where we will consider a Guarantor, they must meet all qualification guidelines plus the following: If married, both spouses must complete applications and be approved to guarantee the lease.
If Application is Approved
We require move in funds (non-refundable) and a signed lease within 24 hours of approval notification. Move in must be within 14 days of approval.
Move In funds include:
· Refundable Security Deposit.
· First full month’s rent.
· Administrative Fee.
· Refundable Cleaning Deposit.
· Applicable Pet Deposit.
· Applicable Pet Administrative Fee.
Criminal History:
Not only must Applicant have acceptable credit history, additionally, all Applicants must meet our Criminal History Criteria. Applicants that are registered sex offenders will be denied. Applicants must have no felony convictions less than 10 years old that involve violent crimes against persons or property, including but not limited to murder, arson, kidnapping, assault, bomb related offenses, robbery or burglary, terrorism OR that involve the manufacturing or distribution of drugs in any manner. All other felony convictions must be more than 5 years old. Conviction of any drug related offenses involving possession only, or alcohol related offenses where no one was permanently injured or killed, must be at least 2 years old. Successful completion of any felony sentence at least 2 years ago and no new criminal activity for at least 2 years before this application is also required. No Applicant with any outstanding warrants or crime that is awaiting trial will be accepted.
If the Applicant would like management to review additional information regarding the felony conviction or the current arrest or warrant as part of their rental application, the Applicant is permitted to submit that information to management along with their application and Management will review that information on a case by case basis.
Failure to disclose criminal history on application will be a decline.