1603 Red Elm

Lease terms

RENTAL TERMS: APPLICATION FEE: $50 per person over the age of 18 SECURITY DEPOSIT POLICY (Refundable): *Credit Score 580+ = 1x Month's Rent *Credit Score 540-579 = 1.5x Month's Rent *Credit Score 539 = 2x Months Rent *Within Past 7 Years - Broken Leases, Prior Evictions, Bankruptcies, Foreclosures = 2x Months Rent *Highest Credit Score Taken Amongst All Lease Applicants RISK MITIGATION FEE: *If highest credit score amongst lease applications is 539 or lower, or if there are any broken leases, prior evictions, bankruptcies, and foreclosures within the past 7 years amongst any lease applicants, the tenants may be subject to an risk mitigation fee of $50/month. If the tenant successfully makes all rental payments during the initial lease term with no late payments, this fee will be removed for subsequent lease terms. PET FEE POLICY (Non-Refundable): *$200 total due at lease execution *$25 total pet rent per month (1- 3 pets) *$50 total pet rent per month (4+ pets) *Certain breeds subject to higher pet deposit and pet rent *Renters insurance is required with pets TO SECURE THE PROPERTY (Move In): After completing the online rental application with Transunion, tenants will be immediately notified of their security deposit amount. We allow tenants to execute the lease with an effective date no more than 30 calendar days from the date of lease execution, with the first month's rent being calculated based on the effective date of the lease. The full security deposit amount, the full pet fee amount (if applicable), and $500 (which will be attributed to the pro-rated first month's rent) must be paid in cash or certified funds (made payable to Sams Realty Group LLC) at the time of lease execution to secure the property. The tenant must pay the remaining amount of the pro-rated first month's rent in cash or certified funds prior to moving into the property on the effective date of the lease.