Tenant Qualification Criteria
Please ensure before making application the following applies to you and that you are aware of:
- Applicants MUST be adults over the age of 18. All adults in the household must complete our electronic tenant application, individually.
- If you decide to rent one of our listed properties, in addition to monthly rent, a security deposit equal to one month’s rent and the rent for the final month of the lease may be charged to tenants prior to tenancy.
- Future tenants may place a good faith deposit on a property and we may reserve the property that future tenant. Please keep in mind that if we reserve a property for your future rental use and thereby causing our property managers to take the property off the open rental market, and you change your mind about renting the property, you will forfeit 100% of your deposit as liquidated damages.
- In the event you enter into a lease agreement and change your mind prior to taking possession of the rental property, you shall forfeit all deposit funds as liquidated damages. In addition, you may be held responsible to the additional terms of the lease you signed.
- If for any reason you are not approved for a rental property, the $49 application processing fee is non-refundable. However, any deposits you have offered will be refunded to you within 72 hours.
- Depending on the property, a $50 attorney lease preparation fee may be applicable.
- Some homeowner and condominium associations require a separate application fee and/or security deposit. If you select a rental and such is the case, all applicants may be additionally required to apply through the association, submit to an in-person association interview, and remit whatever fees or deposits they may require. Generally the association application fees are $150 or less. Homeowner and condominium associations that also charge a security deposit are variable, please check with a property manager for specific association security deposit requirements.
- When tenant candidates make application and pay the application processing fee they are authorizing South Florida Realty Management to:
- check your credit report,
- check public records for past evictions,
- verify your employment,
- verify your previous landlord references,
- run a criminal background check,
- check local county records,
- run occupant names through the sex offender database.
If you cannot provide positive references, have a debt to income ratio that shows you cannot afford to pay rent from your documented income (pay stubs, bank records, or tax returns), have no work history or an unstable work history, been evicted in the past, have a criminal record, or any occupant is listed in the sex offender database, you may not qualify for a rental at this time.
- All applicants should view the exterior & interior of the rental or have a trusted friend or relative(s) view the rental prior to occupancy because all rentals must be accepted “AS-IS” before the application process is complete.
Resident Selection Criteria+
Below please review our minimum residential qualification criteria.
- Minimum Credit Score – Applicants with combined gross income meeting the income requirements of the specific property they wish to rent must all also have a minimum credit score of 580. (No credit is considered a ZERO score). If your credit does not meet the minimum threshold we may be unable to rent to you. In some cases, in select properties only, a waiver may be granted and an additional (double) security deposit may required.
- Income – Applicants must have a combined documentable gross income of 3 times the monthly rental payment. Acceptable forms of documentation are your work pay stubs for the previous three months or your personal bank account statements for the previous three months. In some cases the last two years personal tax returns may be used if self employed. If gross household income of 3 times the monthly rental payment can not be proven we will be unable to qualify you.
- Applicants must all have at least 12 months verifiable rental history. Applicants can have no more than three (3) late payments, during the last 12 month period as reported by the previous landlord(s). Applicants must also be reported to have “taken good care of the property”.
- Applicants must not have an outstanding balance with a previous landlord.
- Applicants must not have a rental eviction on their record.
- We happily accept pets into many of our rental properties. Except for fish, one pet may be permitted with the following considerations:
- We do not accept animals over 30 lbs into our rental properties.
- Birds are prohibited in our rental properties.
- Some rental units will not accept pets for any reason. If a pet is approved, a one time non-refundable pet fee of $300 will be charged and the base rental rate may be increased by $25 per month as 'pet rent'.
- Mainly due to homeowner insurance restrictions we maintain a list of K9 breeds which are not acceptable under any circumstances even if they are under the 30 lb weight limit. Please speak to a property manager about your specific pet(s). We reserve the right to deny any pet at any time for any reason both prior to a lease and during a lease should the pet become a nuisance.
100% of our rental units are smoke free. Smoking is never allowed inside our rental units. Smoking inside a rental unit is cause for immediate termination of a lease and tenants who have a lease terminated for smoking will forfeit all security deposits.