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QUALIFICATIONS
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Credit:
Of course everyone would like stellar credit, and every property
manager would only like to get applicants with perfect credit....
there isn't much chance of that happening.
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We take every applicant on a case by case basis. Sometimes
a tenants understanding of what bad credit is, isn't necessarily
something we would view as a problem. Of course the opposite
is true as well.
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Income:
Hidden income is usually a problem. Say you make $2000 per month
and you have a $300 per month car payment, credit cards totaling
$400 per month, you have 2 kids, and you're looking at renting
a $1200.00 per month house.... the math doesn't add up no matter
how good your credit is. What's weird is your paying $1250 a
month now? Where is the extra income coming from to support
these expenses? The applicant gives no explanation other than
they've always been able to work it out.
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Co-Signer:
On very rare occasion we will take a "co-signer" to
help get an applicant into a property. Usually this happens
when the applicant has more than adequate income, but has had
trouble with their credit do to explainable/understandable circumstances.
Co-signers have little incentive, other than to protect their
own credit, should your fail to make your rental payments as
agreed. Consequently, a co-signer must have perfect credit.
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Application Fees:
Keep in mind that our application fees are non-refundable. If
you know for sure you have bad credit, maybe even an eviction,
you might want to think twice or at least have a heart-to-heart
discussion with the property manager before risking your time
and money.... it's your call. |
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