Tenant Screening Criteria
Funds must be paid at the time of submitting your application. Success Realty & Property Management, LLC uses Pay Pal Services so that we are able to accept your payment online.
The initial application fee is $65 and is non-refundable. This fee covers the cost associated with performing the credit and background checks for lease option clients. For rental clients, this fee covers the cost associated with locating and processing the available properties.
What do you get for your $65? You will be emailed the most recent postings of lease with the option to purchase or rental property available for 60 days. You will be eligible for enrollment into The Keys 2 Yes Home Buying Program which is designed to help you better understand real estate, show you how to purchase a home with blemished credit as well as teach you how to repair and rebuild your credit. You will be provided personal counseling with a dedicated and experienced real estate professional that will answer your questions and guide you through the home buying process.
Lease Option Application Criteria
The application should contain sufficient information for us to determine if YOU,
the applicant meet the basic qualifications which include:
A. A steady and reliable source of income for the past two (2) years that can be verified
B. Must have accurate contact information for previous Landlord's for the past (2) years. Any falsification of this information will result in automatic disqualification.
C. Your Gross Monthly Income MUST be at three times (3x's) the amount of the rent. For example, if the rent is $800 per month, your gross monthly income must be at least $2400 per month.
D. A credit and criminal background check will be completed on each adult tenant 18 years and over that will reside in the home.
Selection Process Guidelines
Rental History: A verifiable positive rental history of at least (2) years is required and MUST include:
Timely rent payments
Compliance with Rules and Regulations
No record of evictions
No evidence of disruptive or destructive behavior
Acceptable housekeeping behaviors
If the applicant does not fully qualify on rental, credit or employment criteria, an additional deposit may be required to complete the process. Upon acceptance, applicant(s) will be required to complete and sign a lease with the option to purchase agreement and pay a reservation deposit, within 24 hours. Additional fees in the form of a down payment representing a stated percentage of the total purchase price of your selected lease with the option to purchase property will be collected at the final signing of documents in the company of an attorney.
Stability of Residence or Employment: A history of frequent moving or instability of employment lends the application subject to review and possible denial. If self employed, must provide a copy of your last (2) year tax return.
Credit History: A perfect credit history is not required but delinquent accounts, judgements and charge off accounts will be taken into consideration. Repossessions or Bankruptcies within the last (2) years will disqualify an applicant if poor credit history continues after filing. Evictions will result in denial of application.
Behavior and Conduct: Any applicant who has been convicted of any drug or sex related crime, burglary, robbery, vandalism or aggravated assault of other crimes against persons or property would not be accepted. The behavior and demeanor of applicants during the application process will be considered.
Housekeeping and Care: A positive reference of maintaining the home in a clean and sanitary manner with no history of damage to any portion of the property.
Cosigner: Is required if the applicant does not meet the required criteria. Cosigner qualifications include:
- Income of at least three (3) times the amount of the rent
- Two (2) years of excellent rental or home owner history
- Two (2) years of good credit rating
REFERENCES FROM RELATIVES ARE NOT ACCETABLE
Success Realty and Property Management, LLC
