RENTAL SCREENING & PROCEDURES
FIRST RENT Property Management does not discriminate based on: race, color, religion, marital status, national origin, sex, sexual orientation, familial status, disability or source of income. We comply with all federal, state and local laws concerning Fair Housing.
- The application is for possession or responsibility of rent within two weeks after the unit has been cleaned and prepared for the new resident(s).
- For any questions and further clarification regarding these requirements, please email us at [email protected]
- Applicants must meet our guideline requirements.
- We will check your credit history, rental references, verify employment, and conduct a nationwide criminal background check, to make sure that our rental criteria are met.
- This process may take 1 – 5 business days, depending on the availability of references. We will contact you via the listed email address as soon as a decision has been made. If the application is denied, please refer to the “Denial Policy” below.
- In the event of multiple equally qualified applicants, the first applicant that meets our criteria will have the first option. See the Rental Application Guidelines below for more specific information on the application process.
- Applicants must view the exterior and interior of the property or sign a “Sight Unseen” agreement before applying.
- All applicant – 18 years of age and older – must complete a separate application and pay the $44.00 non-refundable application fee.
- After application has been approved, we require a non-refundable holding deposit equal to ½ of one months rent. This deposit is required within 72 hours after your notice of approval. This holding deposit is NON-REFUNDABLE if you do not take possession of the rental home on the date stated in the rental agreement, or decides that you no longer want to rent the home. The holding deposit may be paid via online payment, bank transfer, deposit funds into a ‘deposit only account’ at your local Wells Fargo Bank or certified funds (cashier’s check or money order) made payable to FIRST RENT Property Management. Cash or personal checks will only be accepted at Wells Fargo Banks for this holding deposit.
- The applicant understands that once the application has been approved, and holding deposit has been paid, all advertising and showing of the property will cease, and the property is held for the approved applicant. All other potential applicants will be turned away. Reminder, the holding deposit will become a part of the refundable security deposit once possession of the home is accepted. The security deposit is then refundable at the completion of the lease and once the tenants have moved out.
- Tenants are required to purchase a personal “HO-4 Renters Insurance” policy (typically cost between $15.00 – $25.00/month) or Personal Liability Insurance. Contact FIRST RENT for questions.
- One year of verifiable rental or mortgage history from a current (non-family) third party is required.
- Eviction-free rental history is required.
- Rental history reflecting past due rent or an outstanding balance will be denied.
- If a landlord gives a negative reference or refuses to give a reference, the application will be denied.
- Three (3) or more 72 hour notices within a period of one year will result in a denial.
- Three (3) or more NSF checks within a period of one year will result in a denial.
- Three (3) or more late payments within a period of one year will result in a denial.
- Rental history demonstrating noise or other documented complaints will result in a denial when the landlord would not re-rent.
- Proper notice (typically 30 days) to vacate must have been given to previous landlord.
- Gross monthly household income (before taxes) must equal two and one-half times the stated monthly rent. If monthly income does not equal 2.5 times the stated monthly rent, a qualified co-signer will be required.
- Your total monthly obligations must not exceed 80% of your income.
- You must be able to prove at least one year of employment immediately preceding the date of your application.
- The following are acceptable proof of income:
- Currently employed
– Copy of most recent monthly and year-to-date earnings statement.
- Newly hired / job transfer
– A letter of hire and salary from employer is required.
– Copy of last year’s IRS Tax Return that includes Schedule C and a copy of current Profit and Loss Statement.
- Other income
– Legal document such as court order for child support, or government document verifying social security or welfare.
All information showing on the credit report is subject to verification, including previous address and place of employment. Some items that are looked at are:
- late payments
- tax liens
- discharged bankruptcies.
Any applicant who has an open bankruptcy will automatically be denied; however, with applicants that have poor credit caused by a foreclosure of their home and medical expenses may be accepted per final owner approval. FICO scores under 681 will either require a co-signer and/or additional deposit. A qualified co-signer must have a FICO score of no less than 681.
Credit Score Policy: In order to determine credit-worthiness, the applicant’s FICO score will be obtained. Approval or denial of credit history will be based on the following criteria*:
|Good Credit:||681+||Approval at advertised deposit amount|
|Acceptable Credit:||621-680||Approval at advertised deposit amount plus an additional deposit equal to 1/2 month rent.|
|Marginal Credit:||590-620||Approval at advertised deposit amount plus an additional deposit equal to 1 month rent|
|Unacceptable Credit:||< 589||Application will be denied|
*FIRST RENT property management reserves the right to consider exceptions to the credit score policy in cases of medical bankruptcy and/or extraordinary circumstances.
Application will be denied for any felony conviction within less than 5 years from release. Felony convictions can be cause for denial; however, per Federal regulations, drug and alcohol use felonies can be waived with proper documentation. Regardless of conviction date, no applicant with a felony conviction for an act of violence, sex crime, or illegal manufacturing or distribution of drugs will be accepted.
- If your application is denied due to negative and adverse information being reported, you should contact:
Western Reporting Background Screening Services
1787 E, Fort Union Blvd, Suite107
Salt Lake City, UT 84121
- If application denial is credit-related, contact the credit reporting agency listed on the denial letter in order to:
- Identify who is reporting unfavorable information
- Request a correction if the information being reported is incorrect.
Disabled Accessibility Statement
Disabled Accessibility Statement
FIRST RENT property management allows existing premises to be modified at the full and complete expense of the disabled person, if the disabled person agrees to restore the premises (per Fair Housing guidelines), at their own expense to the premodified condition. We require:
- The applicant to seek the landlord’s written approval before making the modifications
- Reasonable assurances (in writing) that the work will be performed in a workmanlike manner
- Reasonable details regarding the extent of the work to be done
- Names of the qualified contractors that will be used
- Appropriate building permits and the required licenses must be made available for inspection by the landlord
- A deposit for the restoration may be required.
If pets are negotiable at the subject property, tenants are required to sign a separate “Pet Lease Addendum” which contains our restriction relating to pets. A complete copy of our “Pet Lease Agreement” is available for review. If you are accepted, you will be required to pay an additional deposit, which is refundable at the conclusion of the tenancy. A monthly “pet rent” premium may also be charged.
Rental Application Guidelines
Rental Application Guidelines
Understanding and agreeing to the above, we require you (each adult) to provide the following information in order to begin the application process:
- APPLICATION FOR RENTAL – This application form must be filled out completely, then signed and dated.
- PAY STUBS – Submit copies of your two most recent pay stubs.
- W-2 or TAX RETURNS – Attach a copy of the last two year’s W-2 or Federal Income Tax Returns.
- BANK STATEMENT – Submit copies of your two most recent month’s bank statements, both personal and business.
- IDENTIFICATION – Submit two forms of identification (each adult). One must be photo identification.
Failure to provide any requested information would deem the application incomplete, then therefore rejected. Applications fees are NOT refundable on rejected incomplete applications.
Renters Legal Liability Insurance
Renters Legal Liability Insurance
What is Renters Legal Liability?
Renter’s Legal Liability is a community-based property damage liability program. The RLL program enables residents to acquire $100,000 of property damage liability protection. RLL is an innovative risk management tool designed to fulfill the tenant’s contractual obligations specified in their lease agreement. The covered property liability is the resident’s indemnification obligation under the lease between the resident and the property owner/agent. Residents agree to indemnify and hold the owner/agent harmless for damages or losses originated through their actions.
What does it cover?
Renters Legal Liability is a unique program that provides protection for financial responsibility if a resident originates and causes damages/losses to the dwelling structure.
The program covers fine ‘perils’ for accidental resident-generated loss. They are:
fire, smoke, explosion, water discharge, and resident induced sewer back-up .
These five perils account for over 95% of resident-generated losses. Coverage for a single occurrence is up to $100,000.
Under the program, damages are paid in priority:
to the owner/agent for damages to the dwelling structure;
to non-responsible, impacted residents up to $10,000 for their damage/loss, if monies are available;
to the resident responsible, up to $10,000 if other damages do not exceed the per-occurrence limit.
What does it mean to indemnify the owner/agent?
Indemnification means that if a loss occurs, the party who sustains the loss (owner/agent) should be restored to a financial position approximately the same as if the loss did not occur – no better or no worse – by the resident who originated and caused the loss/damage.
Does Renters Legal Liability cover my personal property?
Renters Legal Liability covers your personal property if the following occur:
- First – the claim submitted by the owner/agent was originated by a resident who is covered under the RLL program.
- Second – the individual claim is less than the $100,000 RLL program limit, and provided that the program limit has not been exhausted first, by the owner/agent, and then by the non-responsible, impacted residents. If the limit has not been exhausted, the personal property contents of the responsible resident may by covered up to a maximum of $10,000.
For more information on how to obtain personal property coverage, please call (800)860-9699 or visit www.rppinsure.com.
How is ‘Traditional Renters Insurance’ different?
- The insurance commonly referred to as an HO-4 policy, or Renter’s Insurance, is coverage purchased by the resident, in his/her name. The policy, typically, covers the residents’ personal belongings, and liability coverage.
- HO-4 policies can be customized to cover various perils, or ‘risks’, and broadened to include damages that were not caused by the resident.
- For each level of coverage needed, insurance providers set rates. Total premiums depend upon coverage selections, and the loss history of the resident.
Who is insured by the program?
- The Renters Legal Liability program is issued with the owner/agent as a plan administrator. Because this community-based program (properties managed by FIRST RENT property management) covers the indemnification obligation under the lease, any resident who enrolls onto the program is insured.
Is the Owner/Agent selling insurance?
- No. The Owner/Agent and staff are not selling insurance to residents, but allow resident participation under the community-based program to comply with lease requirements.
Why should a resident want to have Renters Legal Liability?
- Residents who enroll onto Renters Legal Liability have easily satisfied the lease requirement to indemnify the Owner/Agent against property damage or loss that they are responsible for causing, within the dwelling structure, subject to a limit of $100,000.
- There is no additional application form to complete, nor quotes to obtain. Once enrolled, the resident can pay small monthly insurance cost with rent. No further notices are sent. And there is no need to worry about keeping the program coverage in place.
- The Owner/Agent requires residents to indemnify the Owner/Agent against loss. One of the easiest and most economical ways of indemnifying the Owner/Agent against loss is by having insurance. Residents have choices. A resident can choose not to participate in the
Renters Legal Liability program .
- For a resident to indemnify the Owner/Agent for any losses, he or she must then provide Proof of Insurance. Proof of Insurance is a certificate provided by any insurance company the resident chooses. The requirements are contained in an addendum to the lease agreements. A certificate from an insurance carrier must cover these requirements.
- A certificate must also show effective and expiration dates. Costs will be based upon the insurer’s rates. If a resident’s own insurance policy is not kept active (is unpaid or is not renewed), the Owner/Agent may reserve the right to enroll the resident in the community’s Renters Legal Liability program.
- All claims are subject to $250.00 deductible.
- News reports of apartment fires often include tragic stories of renters who have lost everything because they weren’t insured. Your landlord does not provide insurance for your personal property. Having all your personal possessions destroyed in a fire, or other insurable event, without coverage, is a tragedy that does not have to happen!
- To protect your belongings, you should consider purchasing Renter’s Insurance, also known as “tenant’s insurance.” The renter’s policy may be used to provide coverage for your personal belongings located in the property that you occupy. Coverage is also provided for loss of use, personal liability protection and medical payments to others.
- Nothing is worse than getting a call from a tenant asking for reimbursement for their personal belongings (clothes, furniture or groceries), after a power outage, flood or fire.
- Another thing to consider: renters insurance may cover the cost of temporary housing in the event your home should become inhabitable.
For more information about Renters Insurance, click on the link below:
Our Service Areas
- Property Manager – San Diego
- Property Manager – La Jolla, CA
- Property Manager – Torrey Pines, CA
- Property Manager – Del Mar, CA
- Property Manager – Solana Beach, CA
- Property Manager – Rancho Santa Fe, CA
- Property Manager – Cardiff, CA
- Property Manager – Encinitas, CA
- Property Manager – Carlsbad, CA
- Property Manager – Oceanside, CA
- Property Manager – Vista, CA
- Property Manager – Escondido, CA
- Property Manager – Poway, CA
- Property Manager – Point Loma, CA
- Property Manager – Coronado, CA
- Property Manager – Orange County
- Property Manager – Laguna Niguel, CA
- Property Manager – Laguna Beach, CA
- Property Manager – Mission Viejo, CA
- Property Manager – Aliso Viejo, CA
- Property Manager – Laguna Hills, CA
- Property Manager – Laguna Woods, CA
- Property Manager – Dana Point, CA
- Property Manager – San Juan Capistrano, CA
- Property Manager – San Clemente, CA
- Property Manager – Lake Forest, CA
- Property Manager – Irvine, CA
- Property Manager – Costa Mesa, CA
- Property Manager – Newport Beach, CA
- Property Manager – Rancho Santa Margarita, CA