How To Rent A Home
Rental Application and Qualification Requirements
You will need the following forms in order to apply to lease our properties:
Rental Qualification and Consent Form
NOTE: Each adult, 18 years or older, that will be living at the property, must submit an separate application and pay the $40 application fee.
Thank you for considering renting or lease purchasing from Key Locations Property Management LLC. The following are rental qualification guidelines for application approval.
Initial Lease Term
Initial lease term is a minimum of 12 months. Longer terms may be available upon owner approval.
Employment/Income:
Applicants must show proof of gross monthly income that exceeds 3 times the monthly rental rate
- We will contact your employer to verify your position, income and length of time with the company. If your employer will not verify your income over the phone, you can:
- show 2 most recent original pay stubs to quicken this process and we will photocopy them for the application or
- your employer may fax a completed copy of our employment verification form to us at 404-529-4684.
If you are self employed
If you are self-employed, instead of pay stubs you can provide one of the following:
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2 most recent monthly banking statements showing deposits and monthly balances for each month, or
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Copy of a most current year’s tax return with an accountant’s signature, or
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1 or more 1099’s showing income for contract work.
Other possible sources of verifiable income
Social Security, retirement or pension, trust funds, disability payments, substantial savings accounts, spousal or child support, and second jobs are examples of acceptable sources of income when written verification is available. Tips or cash paid income can only be counted toward the gross income with verification from the employer in writing.
Income may be combined in some circumstances
A married couple’s income may be combined to qualify for this requirement. Adult roommates must each have income of 2 times the monthly rent. If income is short of this requirement, a qualified cosigner may be used to offset income if credit and residency is acceptable. Cosigner must reside in the same state as rental property.
Residence History:
Applicant must show positive rental and/or mortgage history. We look at your last 2 years of residency for positive, verifiable, history. Applicant history must be free of late payments, NSF checks, warrants, complaints, and condition of the property when you left must be acceptable. We also verify that proper notice was given and that you did not leave with a balance due or collection account. If you leased from an apartment community, they usually require written notice from you before they will verify your history. If you have recently or currently own a home the mortgage payment history will be on your credit report and we will not have to call the lender.
Credit Report:
Applicant must show positive credit history. Payment history, the amount of debt and amount of credit available is generally revealed in your credit report. Key Locations uses Equifax to pull the credit reports and Beacon scores of all adults 18 years of age and over who will occupy the home. Applicants with Beacon scores above 680 that meet income and residency requirements generally are approved with security deposits of one month’s rent. Applicants that have weaker credit scores, recent bankruptcies, collections or slow payment history generally can be approved, but may be required to pay higher security deposit’s after evaluation of income and residency.
If you know you have less than desirable credit, be prepared... you may need to pay a deposit in the amount of 2 months' rent or more to offset the risk to the owner.
Other Requirements
- Valid photo identification, either a state driver’s license or state photo identification card is required with the application.
- Valid Social Security Card, or Resident Alien Card, Work Visa or Passport is required to show legality in the United States.
- All adults (18 and over) are required to submit a separate application, and application fee, with the above identification provided. All adults, 18 and over, are also required to be listed on and sign the lease. Children, ages 17 and under do not have to provide social security numbers on the application, but we do require the names and birth dates if they are to occupy the premises.
- Key Locations Property Management LLC can often offset a weak area by strengthening another. A larger Security Deposit or a Qualified Co-signer may offset weak credit or new employment.
These are the costs incurred when applying for a rental or lease purchase.
At Time of Application
- Application Fee of $40 per adult over the age of 18 payable by certified funds or online payment button and is non-refundable.
- You can apply by downloading an application , completing it, signing it, and fax it to us at 404-529-4684 or scan and email to info@keyrentalhomes.com (call 770-722-6922 and let us know when you have sent it so we are watching for it).
- Please include pay-stubs and photo copies of valid government issued picture ID if possible.
Upon Application Approval
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In order to take the property “off the market”, after you have been approved you must submit to our office a completed Rental Reservation Agreement along with an amount equal to one full month's rent as your Rental Reservation Deposit within 24 hours of your approval. Failure to comply with this requirement will result in your application being closed and the property being released to the next applicant. The Rental Reservation Deposit IS NOT the Security Deposit. We will collect the Security Deposit from you at the time of the Lease closing and move-in inspection. The entire Rental Reservation Deposit will be applied towards all non-security deposit monies due at the signing of the lease. Certified funds are required for all initial monies, including the Rental Reservation Deposit, Security Deposit, any Pet Deposit, and the First Month’s Rent.
At Time of Move-In
- SECURITY DEPOSIT: The security deposit is required, in certified funds or via online payment , upon the completion of the move in walk and occupation of property.
- RENT: First month's rent is required prior to occupation of the property. If rent is prorated, due to move in date not falling on the first of the month, then prorated first month's rent and the 2nd full month's rent are required on or before occupancy date. Your Rental Reservation Fee is credited towards your rent when you move in to the property. If your move in date is not the first of the month the rent will be prorated and the balance of your Rental Reservation Fee credited towards your next month's rent.
- Pet Deposit: Pet policy is determined by property owner. Additional non-refundable pet security deposits may be required as well as a pet exhibit attached the the lease. The pet deposit is generally $350 for the first pet and $100 per additional pet, but may be flexible with excellent credit and type of pets.
- Important Note: The following breeds are generally not permitted or if permitted will require a double security deposit and renters insurance: Pit Bull, Doberman, German Shepherd, Rottweiler, Chow, or any mix of these breeds. . The renter's insurance policy declaration page must be produced at or before move-in, show 300K-liability coverage and it must remain in force for the duration of your tenancy.
