Application Process & Resident Selection Criteria

The following information is designed to give you information about the application process and our resident selection criteria.

Application Processing And Time Frame:

• If you fully complete the application, and provide us with accurate contact information for your current and/or previous landlords, we can usually process your application in 1-2 business days. You will be contacted immediately upon determination of approval or denial. All adult applicants over the age of 18 must submit a fully completed, dated and signed rental application and application fee.
• No rental property will be held vacant for more than two (2) weeks, unless approved by ES Property Management.

Cost:

If you decide to apply to rent one of our properties, there is a non-refundable application fee of $50 per adult that must be submitted with your application. Incomplete applications will not be processed.

The Application Process:

Upon receipt of your rental application and application fee, we will:

1. Check your credit report; and
2. Check the public records for any past interactions with the eviction process; and
3. Verify your employment; and
4. Verify your previous landlord references; and
5. Do a criminal background check.

Resident Selection Criteria:

• Applicants must have a combined gross income of at least three (3) times the monthly rent. Incomes must be verified in writing, applicant may provide recent pay stubs. A minimum of two years residential history is required. Rental history must be rated satisfactory or better, with no record of interactions with the eviction process. We reserve the right to require a co-signer/guarantor and/or a higher security deposit. Co-signers are accepted at the managers discretion only, must meet all requirements.
• Credit history and/or Civil Court Records must not contain landlord judgments, eviction filings, landlord collections, or liens. We will not provide you with the credit report or tell you of its contents; however, we will provide you with the name of the credit reporting agency so you may receive a copy from the credit bureau.
• If you have bad credit, bad rental history references, been engaged in the eviction process in the past two years, or have within the last 7 years any felonies for illegal manufacture or distribution of a controlled substance, felonies resulting in bodily harm or intentional damage or destruction of property for example, “arson”, you will either be declined or may be required to post an additional security deposit as a part of your approval. In addition, Co-signers/Guarantors may be considered on an individual basis. Sexual related offenses for any time period will be declined.

Security Deposit Determination

Clients with very good credit, income and rental history references will achieve the lowest security deposit determination “score,” and will be approved at a security deposit amount equal to one month’s rent.

Those with credit, income or rental history issues will achieve a higher security deposit determination score and could still be approved with a higher security deposit.

For co-applicants, the security deposit is determined by averaging the applicants’ credit/income/reference score.

Credit Score Based Risk Mitigation Admin Fee

All lease transactions involve risk. Offering an approval based upon total credit score below a 700 comes with more inherent risk. We can offer approval even to tenants with very low credit as long as they can pay the additional fee associated with their credit scores to offset the risk involved. If there are co-applicants, the Risk Mitigation Admin Fee is an average of the applicants’. There is only one Risk Mitigation fee per Lease.

Risk Mitigation Admin Fees for Applicants/Co-Applicants:

Average Credit Score (all Adults)….Fee Due at Lease Signing
750 — 850...............................................$ 0
700 — 749...............................................$100
620 – 699...............................................$200
600 – 619...............................................$300
550 – 599...............................................$400
500 – 549...............................................$500
300 – 499...............................................Declined

Denied Lease Approvals: any credit score under 500, (330-499) are declined due to bad credit.

Dealing with Multiple Applicants: A risk mitigation fee will be assessed based on the AVERAGE FICO score of all adults.
No FICO Score: Applicants who do not have a FICO score may be assigned a score of 500 for the purposes of determining their risk mitigation fee.

• Self employed applicants may be required to produce upon request two (2) years of signed tax returns or IRS 1099 forms. Non-employed applicants must provide proof of income.
• Valid current photo ID documentation (driver’s license, military ID, or State ID) is required.
• Previous rental history reports from previous landlords must reflect timely payment, sufficient notice of intent to vacate, no complaints regarding noise, disturbances or illegal activities, no NSF checks, and no damage to rental property or failure to leave the property clean and without damage when you left the property.
• Current occupancy standards are a maximum of 2 persons per bedroom, except for infants under 4 years of age.
• No pets (with the exception of legally defined assistance or service animals) of any kind are permitted without the specific written permission of ES Property Management. The following pets will not be accepted under any circumstances, GERMAN SHEPHERDS, DOBERMANS, PIT BULLS, CHOWS, OR ROTTWEILLERS.
• Once you have been notified of your approval, you must pay your Security Deposit and any Risk Mitigation Admin Fee, via your online Tenant Portal, within 48 hours of your approval notification. Once approved and these amounts paid, they are non-refundable. In the event that you fail to enter into the lease agreement or refuse to take possession of the property on or before your applied for beginning rental date, you shall forfeit these funds as liquidated damages.
• All funds, the holding deposit, any pro-rated rent and security deposit must be paid via the online Tenant Portal.