Screening Policies and Procedures
*Please read carefully before submitting your application*
- Screening Fee(s)
- Process of Applications
- What Is Required to Apply
- Screening Criteria
- Reasons for Increased Security Deposit
- Reasons for Denial
- Move In Fees and Deposits
SCREENING FEE(S)
In order to process your application for a rental unit, you must submit a non-refundable $40.00 Screening Fee. This fee cannot be returned for any reason once it has been tendered to Capital Property Management Services, Inc. (CPMSI). Every adult over 18 years of age who will be residing at the property, or any person over 16 years of age who will not be living with a parent or guardian, must submit an application and Screening Fee. Per anti-discrimination laws, married couples with the same last name must be screened separately. Co-Signers must submit a non-refundable $40.00 screening fee.
PROCESS OF APPLICATIONS
CPMSI will accept and process only one application at a time for a particular rental unit. We will process applications based on the first complete application submitted to our office (including Screening Fees). We require at least two full business days to complete the screening process. Applications must be submitted for a particular unit; transfer of applications will not be permitted for any reason. If a unit is applied for sight unseen, please be aware that you will not be excused from any pre-paid amounts if for some reason the unit is not to your liking. Any items noticed at time of showing, which in your opinion need improvements or repair, should be presented prior to submitting an application, keeping in mind that special requests may not be approved.
CPMSI does not discriminate based on race, creed, color, marital status, national origin, sex, religion, or age.
WHAT IS REQUIRED TO APPLY:
- Completed Application for Rental
- A copy of a government-issued Photo ID and Social Security card
- Copies of your two most recent pay stubs or other proof of income
- $40.00 Screening Fee (we accept cash or money order only)
SCREENING CRITERIA:
At least two years of positive third-party rental history or home ownership are required. Monthly income should be equal to 2.5 times the stated rent, and must be from a verifiable, legal source. As part of the screening process, we conduct a public records check and credit check.
REASONS FOR INCREASED SECURITY DEPOSIT:
- Negative or adverse debt showing on consumer credit report
- Unfavorable rental history
- Income less than 2.5 times the stated rent
- Unverifiable or lack of third-party rental history would require a Co-Signer
- Bankruptcies within the past 8 years would require a Co-Signer. Open bankruptcies are grounds for denial.
If a Co-Signer is needed to qualify for an apartment, the Security Deposit will be 1.5 times the stated monthly rent.
REASONS FOR DENIAL:
- Inaccurate, incomplete or falsified information is grounds for denial of an application
- Evictions within the last seven years
- Property debt
- Negative rental history
- Large amounts of unpaid collections, liens or judgments
- Conviction, guilty plea or no contest plea for any felony. Conviction, guilty plea or no contest plea for any misdemeanor involving assault, intimidation, property damage, theft, dishonesty, criminal trespass, prostitution, weapons charges or any charge that is sex-related or drug-related. Any pending criminal charges or outstanding warrants.
We reserve the right to deny any application for rental.
MOVE IN FEES AND DEPOSITS
Within 24 hours of your application being approved, you will be required to pay one full month of rent. This serves as the Execution Deposit and will secure the apartment for up to 14 calendar days. Upon payment of the first month's rent, you will be required to sign an 'Agreement to Execute Rental Agreement'. Once the Execution Deposit is tendered to CPMSI it will not be returned for any reason. If you fail to pay the balance of money due at move-in, and/or fail to execute the Rental Agreement within 14 days, you will forfeit all monies paid up to the time of cancellation. At move-in, you will be required to pay the full Security Deposit. The first month's rent payment and Security Deposit must be in the form of guaranteed funds (money order or cashier's check); personal checks will not be accepted.
Policies effective February 2010.
BY CLICKING ON THE LINK BELOW YOU ARE AGREEING TO THE FOLLOWING STATEMENTS:
- I understand that all fees and deposits must be in the form of guaranteed funds.
- I have read and understand the above Screening Policies and Procedures.
