Wainwright Real Estate Criteria For Rental Applicants (Page 2 of 6) in pdf

Wainwright Real Estate Criteria For Rental Applicants Page 2

Qualifying Criteria for All Properties Managed by Wainwright Real Estate Property Management:

1. Income

Prospective tenants must qualify separately for the property. Married couples may qualify

jointly. The sum of the monthly rent and your total monthly bills is divided into your gross

monthly income. The resulting percentage should not exceed a 40% debt to income ratio in

order to receive an acceptable rating for this part of the application.

2. Employment History

The current employer will be contacted to verify information provided by the applicant including

the employee’s occupation, length of employment and salary. If active-duty military, PCS orders

may be requested. The applicant should be employed for at least a year to receive an

acceptable rating for this part of the application.

3. Rental History

The current landlord will be contacted to verify information provided by the applicant including

amount of previous rent, timeliness of payments, and proper notification to terminate the lease.

4. Credit Check

A written credit report is obtained from a credit reporting agency. A criminal background check

will be obtained if the applicant answered “yes” to a felony or criminal inquiry on the

application. The entire report is reviewed with specific attention give to the following

information:

•Overall credit score of at least 600

•Judgments, liens, and or collections

•Bankruptcy – Applicants who have filed bankruptcy proceedings in the past but have re-

established a satisfactory credit history over the past twelve (12) consecutive months will

receive an acceptable rating for this category.

•Late payments and charged-off accounts due to non-payment

Wainwright Real Estate Criteria For Rental Applicants Page 2