Rental Qualifications Standards & Application Guidelines
Thank you for considering Gold Star Property Management, LLC, as you search for a home to rent. After reading these standards and guidelines, please contact us prior to applying should you have any questions.
- Each person 18 years and older in the household will need to fill out a complete application – and submit a non-refundable application fee of $50.00. The application will not be considered with missing or false information.
- The application process should take 1 – 2 days provided all information is complete and references respond in a timely manner.
- A full rental holding deposit (equal to one month’s rental amount) may be submitted at the time of application, but will not be deposited until the applicants are accepted. A receipt will be given recognizing the deposit and the terms on which the rental will be held for the applicant. Once accepted this holding deposit is non-refundable, but will transfer to the security & cleaning deposit upon move in. Ordinarily a home will not be held for more than 14 days, unless the availability date has been previously established. A home will not be held without a rental deposit.
- After acceptance, all rental forms should be signed within two days with first month’s rent, security deposit (holding deposit) and any fees paid at that time or upon agreement at move in. We will make a lease signing appointment to review all important items, and if tenants are not in town, other arrangements can be made to accomplish this.
- Positive Photo Identification – e.g. drivers’ license, military ID, employment ID, green card, passport. Also Social Security Card Copy.
- Gross Monthly Income – Proof of Income having been maintained for at least 3 months prior to application. Proof of earnings from social security, child support, alimony and/or spousal support must be documented. Unverifiable income cannot be considered.
- Employment History – at least six months at present place of employment and/or two years of employment in the same field with Income Verification through employer contact, tax records, pay stubs, or Leave & Earning Statements. Military personnel recently assigned are required to provide a copy of military orders & officer contacts.
- Positive Credit Report – we will pull this information as part of the application process – applicants may not provide their own credit report print out. Extra-ordinary amounts of debt could result in higher income requirements.
- Positive rental or home ownership history for at least two years – with no prior evictions or unlawful detainers filings.
- Criminal history free of felonies or convictions related to drugs, crimes against persons and/or property.
Exceptions To Standards – “Adverse Action Options”
Sometimes due to extenuating circumstances, exceptions to one area of the above standards may be considered, often with some “adverse action” being required. For instance, perhaps a loss of job or divorce led to a tough time as seen in the credit report. Before and after these challenging times, the applicant showed good credit and generally qualifies in all other areas. A qualified co-signer or additional deposits may be required, thus allowing a tenant to rent a home which might otherwise not be available to them. Please reveal any information that may not meet standards prior to having us run your application. It is frustrating and expensive for everyone to go through the entire process only to realize that an important standard is not met and no adverse action option can be taken to overcome it.