224 Gardenia Dr

Lease terms

iNet Realty,LLC Qualification Requirements Welcome to iNet Realty,LLC. Before you apply to lease a iNet Realty,LLC home, please take the time to review this screening policy. All persons 18 years of age or older, not dependents, will be required to complete separate rental applications. Applicants with adult dependents and applying for residency will complete a joint application. The term "applicant(s) under this policy means the person or persons that will be signing the Lease as "residents"; the term "occupant(s)" in this policy means the person or persons that are authorized occupants under the Lease. Please also note that these are our current rental criteria; nothing contained in these requirements shall constitute a guarantee or representation by iNet Realty,LLC that all residents and occupants currently residing in a iNet Realty,LLC Home have met these requirements. 1. Occupancy Guidelines - The following occupancy standards are based on 2 persons per bedroom. Three Bedrooms: Six persons Four Bedrooms: Eight persons Five Bedrooms: Ten persons 2. Age Applicants must be 18 years of age or older unless deemed to be an adult under applicable law with respect to the execution of contracts. 3. Credit A credit report will be completed on all adult leaseholders to verify credit worthiness. We will also perform a search of Landlord/Tenant Court records and a Criminal Background check. A security deposit is required upon move-in. Deposits are refundable upon move-out, less any charges assessed for damage to the property and any unpaid balance owed at the time of move-out. Deposits may not be applied to first month's rent or towards rent at any time during the residency. Deposits can be made in the form of money order, certified funds or cashier's check or a combination of the above. Security Deposit Requirements FICO scores below 600 = 2.0 month deposit FICO scores 600-700 = 1.5 month deposit FICO scores above 700 = 1 month deposit In the event that we are unable to verify rental or income history, the deposit requirement may be as much as 3 months deposit. Applicants with Undocumented Income Applicant must meet all other screening criteria to qualify for the home. If the applicant qualifies in all other areas, applicant will be accepted with an additional 2-month deposit and 6-months of pre-paid rent. The applicant must execute a Pre-Paid Rent Addendum and pay the 6-months prepaid rent at move-in. Outstanding Debt (Utilities or cash advance/payday loans) All outstanding collection accounts incurred in the past seven years, for utilities or cash advance/payday loans, in excess of $500 will trigger a decline. Debts below $500 collectively must be paid within 48 hours of the Conditional Approval. If not paid off, the application will be declined. If they are subsequently paid off, applicant must fully reapply to have application considered. Outstanding Debt (Prior Landlord) All outstanding debt owed to a prior landlord; applicant will have 48 hours to prove the debt does not belong to them. If not received within 48 hours, application will be declined. 4. Each applicant will be required to pay an application fee of $40 5. A criminal background check must be passed before further approval consideration is given. A criminal background check will be conducted for each applicant and occupant age 18 years or more. The application will be denied for any of the following related reasons that have occurred within the timeline identified below prior to the application deadline date regardless of the applicant's age at the time the offense was committed. All records are evaluated from the date of disposition. Felony Offense Time of Evaluation Crimes against a Person or Property 7 years Drug Related Offenses 7 years Theft by check related offenses 7 years Worthless check and/or counterfeit check related Offenses 7 years Sex related offenses and Terrorism related Offenses Declined regardless of time Prostitution related offenses 7 years Weapons related offense 7 years Cruelty to animals related offenses 7 years Felony offenses that do not fall within categories Above (ex: traffic, DUI) 7 years; 5 years felony DUI Pending Cases and/or arrest warrants Case by Case Active status on Probation and Parole Off Probation/parole for 5 years Pre-trial Intervention/Diversion Case by Case Please remember that this policy does not constitute a guarantee or representation that residents or occupants currently residing in a iNet Realty,LLC home have not been convicted of or subject to deferred adjudication for a felony, certain misdemeanors or sex offenses requiring registration under applicable law; there may be residents or occupants that have resided in a iNet Realty,LLC home prior to implementation of this policy; additionally our ability to verify this information is limited to the information made available to us by the resident credit reporting services used. Income Gross income for all applicants in one iNet Realty,LLC home will be combined to establish Gross Household Income. All applicants will be asked to produce consecutive and most recent pay stubs demonstrating a minimum of 3 months of income from the application date. Can be demonstrated in one of the following ways: YTD Paystub = 3 months Prior Year W2 + YTD Paystub Current paystub + prior job paystub=3 months Handwritten paystubs are insufficient documentation for income verification. Handwritten paystubs must be supported by bank statements/deposits. (3 months) Additional sources of verifiable income may be considered. These sources may include: child support, grants, pensions, GI benefits, disability, trust funds, social security and savings accounts. (The applicant must supply six current consecutive months of bank statements if any of the additional sources of income listed above if written verification cannot be provided directly from the supplier.) Any non-taxed income will be grossed up by 25%. To verify income we accept the following: Employment 3 months verified income in one of the ways described above. Offer letters will be accepted only when the job has started less than 30 days and most recent paystubs from prior job are required. All offer letters must also be verbally verified for authenticity. For future start dates, an offer letter along with prior paystubs can be accepted. A letter of employment on official company letter head may be accepted at the sole discretion of the management company. Government subsidy or retirement benefits Recent Benefits Statement or current print out from issuing agency are accepted. Evidence of direct deposit may be considered with no less than 3 months bank statements. Savings/Stocks/Bonds Savings can be considered in lieu of employment or other monthly income if the vested balance shows at least 3 times the annual rent. Self Employed For self-employed persons, we require the most recent tax return and 6 months bank statements, and a copy of any relevant business license. i.e. a self- employed general contractor will submit a copy of an unexpired contractor's license. Application Scores FICO scores, gross household income and monthly debt are evaluated to determine the Application Score. Application Scores returned sub 60 will be declined. FICO score below 525 will likely result in a decline. Bankruptcies Applicants with open Chapter 13 bankruptcies will be declined. 6. Rental/Mortgage History iNet Realty,LLC requires written or verbal Verification of Rent (VOR) or Verification of Mortgage (VOM) on all Primary Applicants. Primary Applicant must have 6 months positive rental or mortgage history within the past 24 months. If a previous landlord cannot be contacted, 6 consecutive months of proof of payment must be verified and a copy of the lease contract must be provided. Applicants not having verifiable rental history will have to pay a total deposit equal to two month's rent. Negative VORS will trigger a decline for any of the following reasons: Outstanding debt to a previous landlord or an outstanding NSF check not paid in full; A breach of a prior lease or a prior eviction or if any applicant or occupant is in the process of eviction; More than 5 late payments and/or 2 NSFs within the past 12 months; Documented complaints or damages. 7. Guarantors Guarantors will be accepted for applicants who do not meet the required rent- to-income ratio or denied on credit. Only one guarantor per applicant is permissible. For guarantor-supported applications, guarantor will be required to complete the application and pay a full application fee. Guarantors must have a gross monthly income 3.5 times of the monthly rent and meet all other qualifying criteria identified in this screening policy. The guarantor must execute the Residential Lease Guaranty form at the time of submitting the rental application. Guarantors may be relatives, or an employer; friends may not serve as a Guarantor. 8. Falsification of Application Any falsification in Applicant's paperwork will result in the automatic denial of application and applicant will not be given the option of reapplying. In the event that an applicant falsifies his/her paperwork, applicant will forfeit all deposits and fees paid. 9. Denials Once an application is denied, it becomes inactive for 60 days. 10. Approvals Approvals are good for 30 days from the approved date and will require new apps and income docs after. We reserve the right to review all outstanding debts when determining our credit decision. Application will not be considered until the Application has been fully executed and returned, and all applicable Application deposits and fees have been paid. By submitting the application, you acknowledge that you have read and understood the entire resident screening policy of iNet Realty,LLC.