Application Guidelines

APPLICATION GUIDELINES

We appreciate your interest in applying for an available property offered by San Diego Residential Property Management. In order to qualify for one of our rental properties, you must be at least 18 years of age and submit an online rental application. Each financially responsible adult (18 and older) and all non-financially responsible adults who will reside in the property on a full-time basis are required to complete an application. The application fee is $40 per applicant and is non-refundable; applications will not be processed without the payment of the fee. Applicants are required to complete the application in its entirety and submit all specified documents before processing will begin. Our leasing team will process your application and notify you of the status to lease the desired property. Allow two [2] business days for the rental application to be processed. If any additional information is needed, a representative from our leasing office will contact you.

WHAT WE NEED:

• Income Qualification: The income requirement is based on the combined household gross income (before taxes are taken out) of all applicants and should be at least 3.5 times the monthly rent.
• Income Verification: We will require copies of the most recent pay stub(s) for the last full month from all adult applicants to verify income. If additional income such as child support, spousal support, social security, disability or pension payments are stated in order to qualify for the property, copies of this income must accompany the application.
• Identification: After applicant(s) are approved for tenancy, each adult will need to supply a valid government issued ID.
• Documentation needed for Self-Employed Applicants: If you are self-employed, please provide copies of the first two [2] pages of the most recently filed two [2] years Federal tax returns (both business and personal returns may be required), and copies of the last year’s Profit & Loss statement and Balance Sheet along with the current year-to-date Profit & Loss statement. Further, if needed to verify income, the most recent consecutive three [3] month’s bank statements (both business and personal) may be required. Since each business is different, additional information for self-employed applicants may be required on a case-by-case basis.

YOU AGREE TO THESE TERMS WHEN YOU SUBMIT A RENTAL APPLICATION:

By submission of a rental application you agree that each financially responsible adult (18 and older) and all non-financially responsible adults are required to complete an application. Each applicant authorizes San Diego Residential Property Management to process their personal credit history, criminal background, eviction history and verify employment, salary and past tenancies. The information collected will be used for resident screening purposes only in reference to a property managed by San Diego Residential Property Management. You understand that submission of an application does not guarantee tenancy in the desired property. Leases are granted on a first-approved application basis determined by most qualified applicant(s) and on the owner’s criteria, with final approval rendered by the homeowner. Examples of the criteria considered are (but not limited to): FICO (credit) score, past tenancy verification, eviction history, employment history, salary and income levels, tenancy start date, desired lease term and type and number of pets. Furthermore, it is possible that when your application is submitted, other qualified applications could be in process for the same property.

APPROVED APPLICATIONS & DEPOSIT:

Once notified by the leasing office of your approved application, you are required to confirm your tenancy within three [3] business days by completing the following: [1] all tenants shall review and sign the lease documents and, [2] remit the security deposit. Lease documents will be circulated for electronic signature to all adult residents, and a deposit is required to hold the property until the scheduled possession date. The deposit must be delivered to the management office in the form of a cashier’s check or money order within three [3] business days of the approval.

The deposit will be taken to “hold” the property for the tenant until the actual lease start with delivery of keys (possession date), and collection of first month’s rent. Until the lease start date, the funds are non-refundable and are considered “good faith” money to remove the unit from the rental market to be placed “on hold” for the tenant under contract. Should the tenant fail to conform to the lease agreement, remit the first month’s rent and take possession of the property, the deposit will not be refunded; the funds will be used to compensate the property owner for the marketing time and rent income lost as a result of taking the property off the market. Upon possession and payment of the first month’s rent, the deposit will convert to a fully refundable security deposit and applied at move-out should there be any cleaning, tenant caused damage and/or maintenance issues that are a tenant cost.

IF YOUR TENANCY IS NOT APPROVED:

If you submit your application(s) and do not choose to rent or are not approved for tenancy, the $40 application fee(s) will not be returned. You will be notified of an approval or denial of your application as soon as we are informed by the property owner of his/her decision. If your application is not approved, you will be notified in writing of the denial. By request, you may receive a copy of your credit report at no additional charge. We can accommodate this request by mailing a copy of the report to your attention. Applications will remain on file for sixty [60] days and you can transfer your application to another property managed by San Diego Residential Property Management, with no additional fees. San Diego Residential Property Management and our homeowners strictly adhere to policies of the Fair Housing Act and no application is approved or denied on the basis of race, color, national origin, ancestry, religion, sex, disability, age, citizenship status, genetic information, marital or family status, sexual orientation, gender identity and/or gender expression, AIDS/HIV, medical condition, political activities or affiliations, source of income, or any other protected class under the State and Federal Fair Housing laws.

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