TENANT SELECTION CRITERIA
Pursuant to Property Code Section 92.3515, these Tenant Selection Criteria are being provided to you. The following constitute grounds upon which Landlord will be basing the decision to lease the Property to you. lf your application is denied based upon information obtained from your credit report, you will be notified.
In all cases Cloud Real Estate is representing the owner of the property. Cloud Real Estate has a Property Management Agreement in effect on their rental properties. The firm is guided by this document in renting/leasing the property to a potential renter/lessee.
Any person over the age of 18, whether a tenant or occupant, that will be occupying a rental property must complete an application. The Social Security Number for each adult must be provided. Minor children of parent(s) must be listed by name and age.
ACCURANCY OF INFORMATION
Failure to provide accurate information in your application or your provision of information that is unverifiable will be considered by Landlord when making the decision to lease the property by you.
SOCIAL SECURITY NUMBERS AND DRIVERS LICENSE
Each adult applicant must furnish a copy of their Social Security Card and their driver’s license when making application to verify proof of identity.
EMPLOYMENT AND INCOME
As a minimum requirement, applicants must have verifiable monthly income from an employer or non-employment (social security, disability, and retirement funds, etc.) equal to or greater than the rent amount based on the following formula.
Income X 41 % = A, Income - A = B, B - estimated monthly payments as listed on credit report= C. The amount represented as "C" must be equal or greater to the rent amount.
Applicants must have a history of satisfactory rent payments and occupancy with all previous landlords. Proper notice to vacate must have been given previous landlords. You need not apply if you have been evicted or have been delinquent in paying your previous landlords. You need not apply if you have damaged or left a previous rental in a state of disrepair. Your failure to provide information as requested, provision of inaccurate information or information upon contacting previous landlords may influence the Landlord's decision to lease the Property to you.
Landlord will obtain a Credit Reporting Agency (CRA) report, commonly referred to as a credit report, in order to verify your credit history. Landlord's decision to lease the Property to you may be based upon information obtained from this report. If your application is denied based up information obtained from your credit report, you will be notified.
Bankruptcy, Voluntary Repossessions, Liens, etc., may be considered with an attached written explanation to your application.
APPROVAL OF APPICATION
All applications, including verification of credit, employment, income, and rental history must be submitted to and approved by the Property Manager or Principal Broker.
Landlord may perform a criminal history check on you to verify the information provided by you on the lease application. Landlord's decision to lease the property to you may be influenced by the information contained in the report.
Occupancy limits must comply with guidelines set by the."Keating Memo", adopted by the Department of Housing and Urban Development. General guideline is no more than two persons per room.
ADDITIONAL LEASE REQUIREMENTS
If you have a pet or service animal, they must be screened using our online service. Please visit our ANIMAL POLICIES section of this website to complete that requirement once you have been approved.
COMPLETION OF APPLICATION PROCESS
It takes 24-48 hours on average to process an application. You will be notified by phone or email once a decision has been made.
PAYMENT OF SECURITY DEPOSIT AND FEES/RENTS
Security deposit, non-refundable pet fees and pet deposits must be paid before move-in. Certified
funds are required for all deposits and first month’s rent. Once tendered the security deposit is non refundable until move out of property.
REQUIRED TENANT LIABILITY INSURANCE
You are required to hold renter’s liability insurance and provide proof that this policy is secured and in
effect throughout your lease. (THIS IS NOT renters’ insurance.) If you cannot or do not wish to provide
secure your insurance, we can provide it for $9.50 per month.
REQUIRED PREVENTATIVE MAINTENANCE PROGRAM
Our preventive maintenance program for HEATING & AIR CONDITIONING units is $20.00 per month. This program is mandatory and provides a new system filter to be delivered to your home monthly thus reducing your electric costs and ensuring a better running system.