Both tenant screening and tenant placement is important to ensure your property is taken care of. Once a prospect has expressed interest in the home to one of our agents, they will be able to easily apply on our website. Our leasing agents will do a verification of residency and employment, collect pay stubs, valid identification cards, and screen for criminal history. Our agents work diligently to ensure people are truthful in the information they provide. Each application is reviewed by the property manager for approval to ensure you have the right resident.
HomeRiver Group® Memphis Qualifying Criteria:
The most important objective in renting your home is finding a good resident. A good resident will report maintenance needed on the home, pay their rent on time each month, and take care of the property on a daily basis. We cannot guarantee an applicant will be a good resident, but our qualifying criteria will aid in finding the right renter for your home in many ways. We require that all prospective residents meet the following qualifying criteria when completing the rental application:
- Gross income must be at least 3 times the market rent of the property for which you are applying and must be fully verified. For most applicant situations, we verify income using paystubs and a written employment reference. For self-employed applicants, we require the last 60 days of bank statements and a prior year tax return showing required income amounts. Applicants receiving social security or other federal assistance must provide documentation thereof, including a statement of benefits and bank statements showing the income being received. Court-ordered spousal or child support may be considered with consistent payment history for the prior 12 months.
- Applicant must provide information for their current and immediately previous landlords and have a minimum of two years of verifiable rental history. Verifiable rental history for a period of at least 24 months, in which all the lease terms have been satisfactorily fulfilled, is required. Applicants with late or bounced payments, but an otherwise positive Landlord reference, may be approved with additional deposit.
- Applicant must physically reside in the property for which they are applying. Applicant must live in the rental unit and must disclose all persons that will be occupying the unit. All persons residing in the property are subject to background checks prior to occupancy. All persons 18 years of age or older must be a leaseholder and qualify for the unit with the applicant.
- A criminal background check will be completed on all occupants 18 years of age or older. Criminal records must contain no convictions for felonies within the past 7 years involving the manufacture or distribution of controlled substances or physical violence against other persons. For other felony convictions, we will conduct individualized assessments that take into account mitigating factors, such as facts & circumstances surrounding the criminal conduct, age at time of conduct, evidence of good tenancy before and after conduct, nature & severity of conviction and the amount of time that has passed since the conviction. Criminal history which indicates that an applicant’s tenancy would constitute a direct threat to the health or safety of other individuals or whose tenancy could result in substantial physical damage to the property of the owner or others may result in rejection of the application.
- If rental property is a single-family dwelling or single unit, landlord reserves the right to ask for a security deposit as required by the property owner that may be different from our standard deposit amount.
- If a prospect is declined based on the criteria listed, landlord reserves the right to take adverse action. This may include denial of the application, the requirement to pay a higher security deposit, or the requirement to obtain a qualified co-signer.
- Occupancy limits have been established by the size of the unit. Maximum number of persons allowed is as follows (unless otherwise defined by statute or local ordinance): No more than 2 occupants per bedroom plus one. (adjusted to 3 for Texas)
- Falsifying information on an application will be grounds for immediate rejection of the application.
In order to view a rental home you must show a form of identification. Your driver’s license or an alternate second form of identification will be photocopied. Please have identification with you. We do business in accordance with the Federal Fair Housing Law. We do not discriminate against any person because of race, color, religion, sex, national origin, familial status or disability. By applying, you acknowledge that you have read and understand the above qualifying criteria.
Occupancy limits have been established by the size of the unit. Maximum number of persons allowed is as follows:
- No more than three unrelated adults per unit
- Studio or efficiency: no more than 2 persons
- One bedroom: no more than 2 persons
- Two bedroom: no more than 4 persons
- Three bedroom: no more than 6 persons
In order to view a rental home, prospects must show a form of identification — either a driver’s license or an alternate second form of identification will be photocopied. We do business in accordance with the Federal Fair Housing Law and do not discriminate against any person because of race, color, religion, sex, national origin, familial status or disability.
HomeRiver Group® Memphis’s tenant screening and tenant placement criteria are stringent and thorough to ensure your home is rented out quickly and safely.