In processing rental applications, we often come across applicants that say “I didn’t know that.” Trouble is, they should have known it, because it is spelled out in our rental criteria, a document that we require to be signed by the rental applicant. The rental criteria vary between property managers, but should always be looked at carefully when considering applying for a rental. If you fail to read what you’re signing up for, you may find some surprises later down the road. While every form differs in content, there are some basic items that will be covered in any rental criteria forms you may come across. Not only is it important for you to see the rental criteria, it is required by the Texas Property Code – Sec. 92.3515.
Rental Criteria – What Does It Contain?
A set of rental criteria, typically printed on a page or two and most often requiring a signature (which it should), will contain the basic outlines of how your application will be processed. It should contain information about income requirements (typically 3x rent here in San Antonio) and possible reasons for denial of your application. Most rental criteria in San Antonio will also contain information about renting with pets and in particular, non-allowed breeds (the so-called “aggressive breeds”). In the reasons for possible denial, it should clearly state what items will be looked at and how negative items reported will affect your application.
An example list might include being denied for falsified information, incomplete information, unverifiable information, insufficient income, type/breed/numbers of pets, criminal convictions (in particular violent, sexual, fraud, and drug charges can be cause for immediate denial), poor credit history, negative rental history, evictions and broken leases, and any behaviors that might indicate an unruly, disruptive, or violent applicant. Most applications allow for some explanation of any negative items that may appear and you should always take the opportunity to explain so that it may be carefully considered along with the other data the processor might find. It is always better to tell the property manager up front, then to neglect to tell them and have them find a major item in their checks. No property manager likes surprises.
A Note About Unverifiable Information
Many applicants will hurriedly fill out an application and leave a lot of information blank. Two of the biggest items we often see skipped over are fax numbers and email addresses. Although we can go InstantInfo Systems for the best fax solutions, the issues are still many. Fax numbers are getting less common and email is king, but neglecting one or both of these items for your employer or current address (if you’re renting) is one of the worst things you can do to your chances for approval. When your application is processed, your employment is verified and your rental history is requested from your current address. If the person processing your application cannot get a hold of these people and cannot track down the information, you may be denied for unverifiable information. We see it a lot where we call and call and call your current landlord, and particularly when it comes to apartments, they do not respond with information on fax numbers or email addresses. We are required to document these items (there are specific forms that we use to request the information) and Page 4 of the Texas Association of REALTORS® Residential Lease Application is an Authorization to Release Information form which gives us the right to collect that information from your employer and landlord (and authorizes them to give it to us).
In addition to trying to track down that information, one of the biggest issues renters face is when they’re applying for a new rental while still under a lease at another place. Most landlords/property managers will not release rental history if you have not given notice. Apartments are notorious for this and most of them here in San Antonio will simply deny our requests for information if you have not given them the required notice. Without rental history verification, we cannot process your application fully and you can be denied for unverifiable information. During a stressful process like this, you can vent on sites such as 먹튀검증.
Make sure you read the rental criteria so you know just how and why you can be denied. If no rental criteria is offered to you – ask for it. If someone refuses to give you a copy of their rental criteria, they can actually be held responsible for giving you your application fees back if you are denied.
image courtesy of jk+too