RENTAL POLICY
for
Asset Management & Realty, Inc.
We are glad you are interested in our rental property. For your convenience, we have prepared this overview of our guidelines used in processing all rental applications. Please feel free to ask any questions.
We are an equal opportunity housing provider: It is our policy to rent our units in full compliance with the Federal Fair Housing Act and all state and local fair-housing laws. We do not discriminate against any person because of race, color, ethnic background, religion, sex, age, marital or family status, physical disability or sexual orientation.
Rental Unit availability: Rental units/homes only become available when they are completely ready to rent, including cleaning, painting, and the completion of all maintenance work and planned improvements. Rental unit/homes availability can change as units/homes become available during the day or are removed from the rental market based on rentals, cancellations or maintenance issues.
All occupants residing in apartment 18 years of age or older must fill out a separate application, sign the lease and must meet all criteria to be considered for residency.
Valid Photo Identification and Written Authorization:Applicant must be able to provide us with a photocopy of their current identification at time of application, such as a driver’s license, military or state identification card, or passport. Applicant must also provide a photocopy of their social security card. You must authorize us to verify all information provided in your rental application from credit sources, credit agencies, current and prior landlords and employers, personal references, and allow us to run a criminal background check.
Income: Stable employment record (6 months or greater) and income verification will be required. In order for an applicant to be approved, he/she must generally earn on a gross monthly basis a minimum of 38% of their gross monthly rent (example monthly rent $695/.38)= $1,829 required gross monthly income). Forms of acceptable income verification may include: a pay stub; a letter from the employer; the most recent W-2 form; or, for self-employed applicants, a copy of the most recent tax return or certified verification from his/her company accountant or bank.
Social Security Number:All adult applicants must have a social security number to be eligible for an apartment. For all clients that are not a United States resident, a Social Security Application Approval must be provided prior to acceptance. If the applicant has a Passport or a Work or Student Visa, it must be valid through the term of the lease and must be provided prior to acceptance.
Credit History: As a means of evaluating credit, the following information is evaluated with a scoring method that weights the indicators of future rent payment performance. The score is based on a statistical analysis of prior renters’ indicators and subsequent payment performance. Based on the score, we may choose to accept or reject an applicant, or seek additional requirements for approving the lease. The requirements may include, but are not limited to, additional documentation of income or employment, additional rental references, or an additional deposit. A credit report will be processed on each applicant. Approval will be based on this credit scoring evaluation. Results will be Accept (750-840), Low Risk (660-749), Medium Risk (620-659) High Risk (619 and below) If Medium Risk, an additional deposit may be required. If High Risk an additional deposit will be required.
Guarantors: If your do not meet one or more of the above criteria, you may be able to qualify for a rental unit if you have a third party located within Florida that will guarantee your lease. The guarantor must pass this same application and screening process except that we will deduct the guarantors own housing costs before comparing his or her income to our income criteria.
Criminal History: A criminal background check will be conducted for each applicant and occupant age 18 years or more. The criminal search will be run for all addresses at which the applicant(s) has resided over the previous 24 months. The application may be rejected for any of the following reported criminal related reasons that have occurred within the seven (7) years prior to the application date.
• Felony conviction
• Any terrorist related conviction
• Any illegal drug related conviction
• Any prostitution related conviction
• Any sex related conviction
• Any cruelty to animals related conviction
• Misdemeanor conviction involving crime against persons or property
• Active status on probation or parole resulting from any of the above
Any of the above related charges resulting in adjudication withheld and/or deferred adjudication may also be grounds for rejected.
Please remember that this requirement does not constitute a guarantee or representation that residents or occupants currently residing in our community have not been convicted of or subject to deferred adjudication for a felony, certain misdemeanors or sex offenses requiring registration under applicable law; there may be residents or occupants that have resided in the community prior to this requirement going into effect; additionally, our ability to verify this information is limited to the information made available to us by the resident credit reporting services used.
Rental History: Applicants not having verifiable rental or mortgage history may be required to pay an additional deposit equal to one month’s rent.
Applications for residency May be denied for the following reasons:
• An outstanding debt to a previous landlord.
• Any breach of a prior lease or a prior eviction of any applicant or occupant within the last 4 years.
• More than 4 late pays and 2 NFS's within the last 24 months.
No-Smoking: All use of any tobacco product involving smoking, burning, or combustion of tobacco is prohibited in any portion of the dwelling community.
Satellite Dish: We allow the installation of one satellite dish per apartment in accordance with the FCC and local access laws. Not all of our apartments are suitable to satellite reception and we cannot guarantee that satisfactory transmission will be received. There are limitations on how and where a satellite dish can be installed and apropriate addendum must be signed. An additional general security deposit may be charged and a copy of the liability insurance in a coverage amount of $100,000 may also be required.
Pet Policy: No pets
Occupancy Guidelines: In compliance with all applicable fair-housing laws we have established restrictions on the total number of persons that may occupy a given rental unit. Our guidelines allow for a total of two occupants per bedroom. However, a family may occupy an apartment if the family does not exceed two persons per bedroom plus a child who is less than 24 months old and who sleeps in the same bedroom with the child’s parent, guardian, legal custodian, or person applying for that status. These guidelines are to prevent overcrowding and are in keeping with the limitations of the rental unit and building system.
• 1 bedroom-2 persons
• 2 bedroom-4 persons
• 3 bedroom-6 persons
Rent: All move in amounts must be paid in full prior to/or at time of move in with CASHIERS CHECK OR MONEY ORDER. Personal checks will not be accepted. If move in occurs after the 20th day of the month, the pro-rated amount and next month’s rent is required at time of move in.
