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FAQ – Leasing

How Do I Apply For A Property?
Each prospective tenant of 18 years of age or older must completely and clearly fill out and sign an “Application to Rent/Screening Fee”. Applicants must include a copy of their last 2 paycheck stubs. If you are beginning new employment and paycheck stubs are not yet available, a copy of an employment agreement must be provided. Each applicant must also provide a copy of his or her driver’s license or government-issued identification card.

What If I Am Self-Employed?
If applicant is self-employed, he or she must provide a copy of last year’s tax return verifying income, or Profit & Loss Statement and copy of IRS Form 1099, along with your last 2 bank statements.

Is There An Application Fee?
There is a minimal application fee of $45.00 per person for persons of 18 years and older. $20.00 is paid to the credit reporting agency, and $25.00 for Real Estate Establishment, Inc.’s processing and review. If the application is reviewed, the fee is non-refundable.

How Are Applications Processed?
Applications are processed on a first come, first serve basis; they will not be processed unless filled out completely and signed by all applicants (adults over 18 yrs. of age) and all application fee(s) are received.

What Is The Credit Threshold?
Applicants are expected to have a good credit rating with no delinquent accounts, unpaid judgments, evictions, foreclosure, or criminal history. Such negative remarks could cause immediate disqualification. Any extraordinary circumstances should be explained in a cover letter and will be considered.

Is There A Required Income To Qualify?
Each applicant’s source of income needs to be verified. Real Estate Establishment, Inc. requires a combined gross income ratio of 3 times the amount of the monthly rent.

If I Have Filed Bankruptcy In The Past Can I Still Quality?
Yes, applicants who have previously filed bankruptcy could still qualify. Consult with one of our Property Managers in order to discuss your options.

What Do I Do Once I Have Been Accepted?
Once an applicant has been notified of their acceptance, all applicants have 48 hours to

bring in the full security deposit on the property and fully execute the rental agreement. Failure to do so may result in the property being rented to another applicant. Security deposits and first month’s rent must be in certified funds. Personal checks are not accepted for deposits or first month’s rent.