APPLICATION PROCESS. The Edwards Companies, LLC

Transcription

1 APPLICATION PROCESS Dear Applicant: Thank you for applying for a rental property through. Please review and complete the following information in full detail before submitting your application. *Note that applications will not be accepted until ALL of the following items have been completed and provided. 1. Each adult (18+ years of age) planning to occupy the property must submit a completed (separate) application. 2. If applicant is a student (Undergraduate or Graduate) or not employed, a guarantor/co-signor must be secured. The guarantor/co-signor must also submit a completed application and the guarantor/co-signor form, as well as pay the application fee. 3. Application Requirements, Funds, Deposits, and Fees Application (Offer) Fee: (**Must be Certified Funds ex. Cashier s Check or Money Order) Payment is required with application. The application fee is a $35.00 NON-REFUNDABLE fee for each applicant that is due at the time the application is submitted. Earnest Money: (**Must be Certified Funds ex. Cashier s Check or Money Order) Payment is required with application. The amount is typically equivalent to one month s full rent and is due at the time the application is submitted prior to processing the applicant s offer to rent the property. Earnest money shall be applied to the first month's rent upon acceptance (by the Owner) of the offer to rent. The purpose of the earnest money is to validate the applicant s intention to rent the property upon approval and acceptance of the offer to rent. The earnest money shall be immediately deposited into The Edwards Companies trust account. Security Deposit: (**Must be Certified Funds ex. Cashier s Check or Money Order). Payment is required at lease signing within seventy-two (72) hours of applicant approval unless otherwise notified. The amount is typically equivalent to one full month s rent. (Note: Does not apply to the 1st or last months rent) *All checks for funds listed herein should be separate from other funds paid (i.e., Application Fee and Pet Fee). Pet Fee: If applicable, there is a $ NON-REFUNDABLE Pet Fee (**Must be Certified Funds ex. Cashier s Check or Money Order). Application Requirements Application Types Fee Certified Funds? Must Earn 3x the Monthly Rent Traditional Application (per applicant) $35 Yes Residence and Eviction History Co-Signer $35 Yes Employment Verification Full-time College Student (Undergraduate or Graduate) + Co-Signer required $75 Yes Credit Check Pet Fee (if applicable) $275 Yes Criminal Background Check *ALL APPLICATION FEES ARE NON-REFUNDABLE AND MUST BE PAID BY CERTIFIED FUNDS (CASHIER S CHECK OR MONEY ORDER) Please Complete the Following: 1

2 Income Calculator Application Requirements Your Income Rate Amount Worked Total Monthly Monthly property rent = x 3 = * *This is the preferred minimum income required to quality. If your monthly income does not meet or exceed the minimum income required, please contact our office to see if a co-signer is a possibility. Hourly Rate Hrs/month = Weekly Rate Wks/month = Monthly Rate = Additional Income Sources: Does anyone in the home receive any other sources of income? (ex. SSI, Disability, 2 nd Job) YES NO If YES, please describe: 4. A completed application consists of ALL of the following: a. Complete and Signed Application b. Terms and Conditions Acknowledgement c. Valid Government Issued ID (for each applicant/person over the age of 18) d. Color photo of pet(s) if applicable e. Most Recent 2-months Pay-Stub. (If you are self-employed then we will need your tax returns-irs Form 1040 to verify income). 5. Once your completed application including all information listed above, is received, we will do the following (which typically takes approximately 3-5 business days, or less to perform): a. Process your application b. Review your credit report c. Review your criminal report d. Review your eviction history e. Review your income verification f. Verify your employment g. Verify your rental references h. Review any requested contingencies with the landlord/owner i. Contact owner/landlord final decision 6. After reaching a decision on your application we will do the following based on the decision: a. Denial: We will contact you in writing to let you know why 2

3 b. Acceptance: We will contact you in writing to supply you additional information. Upon approval, you will have 72 hours to sign the lease and pay the security deposit unless otherwise notified. The property will remain on the market until the lease is signed. The security deposit must be paid in the form of a money order or certified check. c. Renter s Insurance: apply for and provide proof of Renter s Insurance. See Renter s Insurance Agreement. For the fastest service please apply via our website: Where should I submit the application and Earnest Money? The Edwards Companies P.O. Box Raleigh NC P. Kelly (919) P. Chris (919) E: info@theedwardscompanies.com -Please contact us with questions regarding submitting your Application- 3

4 RENTAL APPLICATION I, (name of primary applicant), the undersigned hereby makes application to rent the property located at the address listed below:, beginning (estimated Lease Start date),(m/d/yy), for an initial term of months for $ per month, and submit the following information: Application date: Property address (applied for): Have you viewed the property? Interior: Yes No Exterior: Yes No GENERAL APPLICANT INFORMATION Name (Last, First, MI) of Birth Social Security # Driver s License # Vehicle Make/Model and License # Home Phone Cell Phone E- Mail Emergency Contact Name Emergency Contact Phone # List Other Proposed Occupants (Name) of Birth Relationship Yes/No: RENTAL & RESIDENCE HISTORY Address City State Zip Code Landlord/Owner/Manager Phone Residency Start Residency Finish # of Returned Checks Is Rent Current? (If no, explain) Full Notice Given? Yes / No : Yes / No Are/Were you asked to leave? (explain) Reason for Moving Address City State Zip Code Landlord/Owner/Manager Phone Residency Start Residency Finish # of Returned Checks Is Rent Current? (If no, explain) Full Notice Given? Yes / No : Yes / No Are/Were you asked to leave? (explain) Reason for Moving Yes/No: Address City State Zip Code Landlord/Owner/Manager Phone Residency Start Residency Finish # of Returned Checks Is Rent Current? (If no, explain) Full Notice Given? Yes / No : Yes / No Are/Were you asked to leave? (explain) Reason for Moving Yes/No: C U R R E N T P R E V I O U S P R I O R 4

5 FINANCIAL HISTORY Creditor/Institution Type of Account (Checking, Savings, Credit) Balance Limit REFERENCES Name Address Phone Occupation Years Known EMPLOYMENT HISTORY Current Employer Address Start End Occupation & Income (Annual Gross) Phone Name and Title of Supervisor Previous Employer Address Start End Occupation & Income (Annual Gross) Phone Name and Title of Supervisor Prior Employer Address Start End Occupation & Income (Annual Gross) Phone Name and Title of Supervisor BACKGROUND INFORMATION List any other sources of income you wish to have considered. (Verifiable) Will any occupant smoke? Do you have pets? If yes how many/weight? Yes / No Yes / No Have you ever been evicted? (Explain/List ) Have you ever filed bankruptcy? How long would you like to rent from us? Have you ever been given/served a late rent notice? (Explain) Have you encountered ongoing issues/problems with your current landlord? (Explain) Have you ever been convicted of a felony? (Explain) Why are you moving? If, for any reason, you were unable to pay your rent do you have someone who would pay it for you? (If yes, please list Name, Address & Phone) Yes / No Have you ever been sued? (If yes, please explain) Yes / No While processing your application, we may run a credit and criminal background verification. Is there anything you would like to inform us of? How did you hear about us? Please list any referrals here and you could earn a finder s fee! 5

6 How did you hear about The Edwards Companies? The Edwards Co s. Website Craig s List RentLinx.com MLS/Realtor.com TV/Radio The Edwards Co s. Sign Zillow Trulia Referral Other BEFORE SUBMITTING YOUR APPLICATION! Che ck Before you submit your application please check off that you have provided the following information: Photo ID for all applicants ages 18 and older (Individuals 18+ years old must be on the Lease). Social Security Number Current & Prior Landlord Information: Addresses, names, phone #, address, or fax # Employment Information: Contact name, phone#, address, or fax #, and salary info Have you signed the application? Have you enclosed the required non-refundable application fee? Have you provided the required income verification documents (pay stubs, etc)? Are you ready to sign a lease if approved? (If approved you will be given 72 hours to sign a lease) Are you prepared to pay the Earnest Money deposit in full? (The Earnest Money deposit is normally equal to one full month s rent and must be paid in certified funds [a money order or certified/cashiers check] to secure the property). Are you prepared to obtain the required Renter s Insurance by your lease signing date? $300,000 liability coverage and $15,000 personal property coverage REQUIRED. Note: must be listed as an Additional Insured on the policy The Fair Housing Act The Fair Housing Act prohibits discrimination in the sale, rental, or financing of housing on the basis of race, color, religion, sex, handicap, familial status, or national origin. 6

7 RENTAL APPLICATION TERMS AND CONDITIONS! Authorization: I/we certify that the foregoing information is true and complete to the best of my/our knowledge and understand that falsified information on this application shall be grounds for denial. All applications, co-signer applications, and fees must be received before processing will begin. As the agent for the property owner, The Edwards Companies, LLC is authorized to share all information with the property owner.! Funds Due with Application: I/we understand and agree that will collect from me the equivalent of one month s full rent as earnest money prior to processing my offer to rent. This earnest money is given to validate my intention to rent the property upon approval of my offer. I understand that the earnest money given shall be immediately deposited into The Edwards Companies trust account. All rental monies, including pet fees, must be paid on or before the start of your lease date, regardless of whether you take possession at that time. Your payment must be in the form of a money order or certified check.! Funds Due Prior to Move-in: All rental monies, including security deposits and pet fees, must be paid on or before the start of your lease date, regardless of whether you take possession at that time.! Application Fee: I understand that my rental application fee of $35/individual and $70/joint is non-refundable.! Application Process: We do not operate on a first come, first serve basis. I/we understand that The Edwards Companies, LLC will take multiple applications on the same property and process them simultaneously when necessary.! Lease Signing: Upon approval, applicant(s) will be given 72 hours from notification of approval to sign the lease and pay the security deposit. If the approved applicant fails to sign the lease and pay the security deposit within that time frame, the property may be offered to the next approved applicant.! Utilities: All utilities are the responsibility of the tenant unless otherwise specified. Utility service must be established in the tenant s name for the rental must commence no later than 24 hours prior to the lease start date. If you have questions concerning utility service, please ask The Edwards Companies. Utility companies may require deposits and/or other fees. Keys will not be provided and occupancy will NOT occur until proof of utilities transfer is provided to The Edwards Companies on utility company letterhead (preferable by info@theedwardscompanies.com)! Pets: Pets may be permitted at the property on a conditional basis. Pets will be considered case by case with the owner's approval. There may be a non-refundable pet fee of $ required for any pets permitted with the lease.! Property Showings: The tenant(s) agree to allow showings of the property, with notification, days prior to the end of the tenant's occupancy.! Renters Insurance: The owner may require proof of Renter s Insurance.! Lawn and Landscape Maintenance: Unless otherwise stated the lawn and landscape maintenance fee is $70.00 per month to be paid with and in addition to the monthly rent. This fee covers the cost of The Edwards Companies professional lawn care and maintenance for the property over a 12-month period. Lawn care and maintenance 7

8 RENTAL APPLICATION TERMS AND CONDITIONS (Continued) includes: mowing and landscaping, weed eating, blowing, pruning of bushes, shrubs, and plantings, and general lawn maintenance. Note: Tenants are responsible for general landscape maintenance and clean-up including keeping all plant beds and natural areas free of weeds.! Interior Paint Color Change Requests: The Edwards Companies allows for the repainting/change of wall paint colors to a maximum of two (2) bedrooms per property (bedrooms only no additional rooms) at a charge of approximately $ per room (price subject to change). The cost of paint is the responsibility of the applicant/tenant. The Edwards Companies or its approved affiliates shall perform painting. Approved colors are Sherwin Williams neutral grey, soft yellow, neutral beige (determined by the existing wall colors per property). The Edwards Companies reserves the right to approve or disapprove paint color change requests. This offer hereby constitutes my offer to the owner of the above-described premises (hereinafter "premises"), through owner's agent The Edwards Companies Investment Real Estate Group, hereinafter referred to as "The Edwards Companies," to lease the premises for the term and upon the conditions set forth in this offer. In addition to the nonrefundable offer (application) fee of $ 35.00, I hereby tender $ as earnest money to be refunded to me if the owner of the above-described premises does not accept this offer. However, I agree that the owner shall apply the earnest money to the first month's rent upon acceptance of this offer. Before I am given possession of the premises, I agree to execute a lease agreement for the premises and pay the security deposit as determined by the owner. I understand and agree that my earnest money does not bind the owner in any way (i) to lease the premises to me or (ii) to remove the premises from the real estate market, unless and until the owner approves and otherwise accepts my rental offer, and I understand and agree that The Edwards Companies cannot approve or accept my rental offer without the owner's express and actual (not apparent) authority. I also understand that the decision to approve or reject my application is made solely by the owner, not The Edwards Companies. I agree that if I fail or refuse, for any reason whatsoever, 1) to execute a written lease agreement for the premises AND 2) to pay the required security deposit within seventy-two (72) hours after owner has accepted this offer and owner or owner's agent has notified me of owner's acceptance of this offer, I understand and agree the owner's acceptance shall constitute an oral lease agreement with me for the premises at the agreed rate for a period of one (1) year, and as such, the owner shall consider the earnest money as a security deposit, in which case the owner shall apply the balance of the security deposit to any and all unpaid rents and related damages pursuant to N.C. Gen. Stat and N.C. Gen. Stat The application of the entire balance of the earnest money/security deposit to unpaid rents under the oral lease in no way releases me from continuing liability under the lease; I understand and I agree that if I fail to take possession and sign a written lease for the premises as required above, I shall be liable for the rent until (1) the end of the one-year oral lease term or (2) until the premises rerents at the same or higher rate to another tenant, whichever event occurs first. Notwithstanding the preceding terms of my offer, I acknowledge and agree that owner and/or owner's agent may reject this rental offer without liability of any kind in the event that my offer is not approved due to (1) negative information contained in my credit report(s) and (2) any other negative information, including but not limited to my criminal history and any negative rental references. I agree that owner is not bound by the principle of first come, first serve, and as such, owner has the unrestricted right to withhold their approval and to reject my rental offer if the owner receives any negative information regarding my credit record, criminal history, or rental history. In the event the owner rejects my rental offer, I have the right to demand and secure the return of the earnest money from owner or owner's agent. Otherwise, the remaining terms of my offer shall control upon acceptance of offer by owner and owner's agent. I hereby authorize The Edwards Companies to whom this offer is made, any credit bureau or other investigative agency employed by The Edwards Companies, to investigate the references herein listed or statements or other data obtained 8

9 RENTAL APPLICATION TERMS AND CONDITIONS (Continued) from me or from any other person pertaining to my credit, financial responsibility and qualifications as a lessee. I hereby release all parties from all liability for any damage that may result from furnishing this information to The Edwards Companies. I hereby acknowledge that the above information is correct to the best of my knowledge. I understand that in the process of verifying information on my rental offer, The Edwards Companies will be contacting my current landlord/mortgage holder and employers. I grant permission for this and also give permission for The Edwards Companies to secure a credit report on me from a national reporting agency. Note: If your employer uses a third party company for employment verification, you will be charged an additional fee of $16-$ All other terms of the North Carolina Rental Agreement apply, including that the tenant is liable for the full rental term specified in the lease. If the tenant breaches the contract, the tenant is labile for: 1) Any unpaid rents and any future lost rental funds due to vacancy; 2) Any costs/fees incurred by the Landlord to re-let the property due to tenant s breach, including any fees to agencies used for assistance in re-letting the property; and 3) Any costs necessary to clean/repair property to its original condition. The North Carolina Rental Agreement requires that tenants maintain Renter s Insurance. The owner may require proof of insurance. The tenant is not permitted to assign the lease to another party or sublet the property in whole or part. I/we acknowledge and agree that the verbal and written negotiations, with, pertaining to this application for the property/location referenced herein are binding and enforceable. I/we understand that The Edwards Companies, LLC is the agent for the Landlord/Owner. I/we understand and agree with all terms and conditions herein and authorize to make inquiries, perform credit checks, criminal background checks, and verify rental, landlord, eviction, and employment histories, now and in the future to verify the statements above. abides by the Fair Housing Laws of the State of North Carolina. STOP! Before you submit this application please ensure that (1) the application is complete in its entirety and (2) you have completed each check off item in the box Before Submitting Your Application (Page-6). 9

10 Utilities Service Transfer Agreement Property Address: Applicant Name: Applicant Name: Proposed Move-in/Lease Start : / / Upon acceptance and approval of this rental application I agree to contact the applicable utility companies to have services transferred into my/our name(s) no later than 24 hours prior to the above referenced move-in/ lease start date. ALL UTILITIES MUST BE CONNECTED AND TRANSFERRED INTO THE TENANT S NAME(S) NO LATER THAN 24 HOURS BEFORE THE DATE THE LEASE BEGINS OR LEASE SIGNING WHICHEVER OCCURS FIRST. KEYS WILL NOT BE PROVIDED AND OCCUPANCY WILL NOT OCCUR UNTIL PROOF OF UTILITIES TRANSFER IS PROVIDED TO THE EDWARDS COMPANIES ON UTILITY COMPANY LETTERHEAD. (Preferably by info@theedwardscompanies.com). Utility Provider Name Phone Number Power/Electric Duke Energy-Progress (919) Gas PSNC Energy (Gas Co.) 1 (866) Water City of Raleigh (919) Trash City of Raleigh (919) Cable Telephone Other: Other: Note: Contact information is subject to change. It remains the responsibility of the applicant/tenant to contact each utility company. All utilities intermittently billed to The Edwards Companies will be charged to the Tenant(s) for immediate reimbursement. I/we acknowledge and agree to (1) transfer all utilities to my/our names and no later than 24 hours prior to the lease start date or lease signing date (whichever occurs first) and (2) provide applicable proof of utilities transfer on utility company letterhead. Failure to do so may result in delayed occupancy. Failure to do so will result in delayed occupancy. Damages to property resulting from failure to transfer utilities will be paid for at the expense of the Tenant(s). 10

11 Renter s Insurance Agreement It is the policy of The Edwards Companies that all tenants must provide proof of renter s insurance prior to taking occupancy. The most economical protection for your new home is liability and contents coverage under a renter s insurance policy. The Edwards Companies requires all residents carry renter s insurance in the even that damage occurs to the buildings or common areas. Often renter s insurance can be purchased through the same company that insures your motor vehicle. The Edwards Companies and it s agents and/or owners/landlords is NOT responsible for you and your family if you are displaced or if the contents of your home become damaged even if the loss is caused by the building itself (fire, water damage, sewer backup). Renter s insurance is very affordable (often as low as $10 per month), and renter s insurance will reimburse you for personal belongings lost or damaged due to fire, water/plumbing floods, vandalism, theft, power surges, etc. Renter s insurance will also protect you against personal liability loss, such as damage to your home or damage to the building from an accident that you may cause. The following coverage amounts are the required minimum for a Renter s Insurance policy when renting from The Edwards Companies: Liability Coverage $300,000 Personal Property $15,000 The above referenced coverage amounts are the required minimum. You may request higher limits from your insurance provider. The Edwards Companies does not endorse a particular insurance carrier for renter s insurance. Remember, The Edwards Companies is not responsible for any damages to your personal property. Lessor s insurance only covers the Lessor s property, including the building structure itself. The following information must be provided 24 hours prior to your Lease signing to ensure no delay in occupancy: RENTER S INSURANCE CARRIER NAME: POLICY NUMBER: EFFECTIVE DATE: IMPORTANT NOTE: must be listed as an Additional Insured. A photocopy of your renter s insurance policy Declarations Page (or Dec Page) must be provided with this agreement prior to Lease signing. I/we acknowledge that I am in receipt of the Renter s Insurance Agreement. I/we will contact The Edwards Companies after I have contacted my chosen insurance provider to confirm that insurance coverage has been established in my name effective on my move-in date. I understand that I will NOT be allowed to receive keys to the property until proof of my insurance policy has been presented to The Edwards Companies. I/we acknowledge that no rental credits will be given if your move-in date is delayed due to lack of proof of renter s insurance. 11