Golden Realty & Management qualifies our applicants based on the following criteria:
Occupancy Guidelines ~ we may allow a maximum of 2 occupants per bedroom. (example-for a 3 bedroom home a maximum occupancy would be 6 total occupants).
Lease Start Date ~ applicants will need to be within 30 days of their lease start/move in date. We will hold a property for up to 30 days after their rental applications has been approves lease sigend and at least 1 month's worth of security deposit has been received
Employment ~ we will attempt to contact the applicant's employer(s) to verify that they are currently employed as well as the terms of their position (full or part time / permanent or temporary).
Income ~ we will attempt to verify that the applicant’s total monthly gross income equals on average 3 times the monthly rental amount of the property they applied for.
Criminal History ~ we use First Advantage Screening to obtain a detailed report of any known criminal activity, sex offences or evictions. GRM does not approve any rental applications that include convicted felonies or sex offences. Applications with misdemeanors may be considered however, depending on their other qualifications, the applicants may be required to pay a larger security deposit and/or certified funds only throughout the term of the Lease.
Credit History ~ LexisNexis® Resident Screening report also provides us with a credit report and score. We look at the overall credit picture, to see if the applicant’s have any collections, late payments, bankruptcies, evictions or any other housing related delinquencies in the last 5 years. Applicants with credit scores under 650 may be approved however they may be required to pay a larger security deposit. Credit scores under 550 will not be approved without a co-signer. The amount of security deposit we collect will be between 1 – 2 months worth of rent.
Landlord Reference/Residence History ~ we attempt to confirm the last 3 years of rental history. We will contact the applicants current or former Landlords to discuss their rental history. A poor reference from their Landlord may result in the applicant having to pay a larger security deposit or denial of their application. If the applicant’s currently own or recently owned their own home, we will obtain and review their current/last mortgage statement to make sure they are not/were not delinquent. In some cases and if all the other qualifications have been met, we may consider an applicant with a short sale, foreclosure, eviction or other housing related delinquency- however, they may be required to pay an increased security deposit.
Applicants will be notified in a timely manner regarding our decision on their rental application. If they are denied, they will also be mailed an explanation of our decision. If applicants are approved we will make an appointment to meet to sign the lease and pay the security deposit within 48 hours of approval to avoid cancellation of their rental application. We will not officially take the rental home off the market until the lease has been signed and the security deposit has been received.