Residential Rental Requirements
Prior to completing the rental application, please carefully review the following criteria to determine your eligibility.
*We do not start processing until application fee(s) have been paid.*
Application Standards
All applicants pass through a screening process:
Cosigners
We may allow cosigners if they meet the below criteria :
1) Income is 6 times the rental amount
2) Residents of Indiana
4) Own real estate
5) Minimum credit score of 600
Documents needed to submit with Application
Please include the following:
Submitting Your Application
Once you receive an approval we can accept 1/2 of the security deposit (excluding deposit specials) via money order, credit/debit card or cashier's check (no personal checks accepted for deposits) which will hold the property for a maximum of 30 days. Lease must be signed and all fee's (security deposit, rent, pet deposit, pet fee's, etc) must be paid prior to receiving keys.*
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Fair Housing Policy It is unlawful and a violation of company policy to discriminate against any person based on race, color, religion, sex, national origin, handicap, or familial status, or to refuse to show, rent, negotiate, or otherwise make unavailable any rental unit. It is unlawful and a violation of company policy to discriminate against any person based on race, color, religion, sex, national origin, handicap, or familial status, or to refuse to show, rent, negotiate, or otherwise make unavailable any rental unit.
All Choice Property Management employees are trained to provide fair and equal treatment for all people, whether or not they are included in a protected class. If you have any questions or comments, please read the enclosed Fair Housing policy or contact our office.
Acknowledgment Applicant acknowledges that the above information is understood, and has been informed:
1. All $50 Application Fees are non-refundable.
2. If applicant withdraws application following approval, all deposits will be forfeited.
3. Information regarding tenant and landlord relationships please visit Indiana Code 32-31: Landlord Tenant Relationships
Relations http://www.in.gov/legislative/ic/2010/title32/ar31/.
**Choice Property Management complies with the Fair Housing Act as amended, prohibiting discrimination in housing based on race, color, religion, sex, national origin, disability or familial status.**Unit is not reserved until security deposit is paid. Once application is approved and security deposit is put on the unit, we can hold the unit for up to thirty (30) days only.
*We do not start processing until application fee(s) have been paid.*
Application Standards
All applicants pass through a screening process:
- Income Requirements: A gross income of at least two (2) times the monthly rent amount is required.
- Single Family Homes: 30% of your total monthly gross income (before taxes) must be equal or greater than the monthly rent of the property you are applying for. Each Applicant must have a Gross Income of at least 2 (times) times the monthly rent amount. (Example: The rental you are looking for is $750 a month, your income must be at least $2,500). Married couples may combine income.
- Choice Property Management must be able to verify employment history. If you are self-employed we will need tax returns for the last two years. Married couples and related residents over 18 may combine income . Verification of any of the following: Recent printouts of child support (if court ordered and received regularly) food Stamps, SSI, disability or TANIF.
- State income must be issued from Indiana. All self-employed applicants must provide a year's worth of financial statements (bank statement, CPA document, P/L, etc.) or a tax return from the previous year. If you have secured employment but have not started, we can also accept an offer letter, letter of intent or transfer paperwork. All documentation must contain hire/start date & rate of pay. Multi-family units that include utilities are subject to lower income requirements. Student loan income or savings is counted only if in the event you are paying rent up front for 6-12 months. You must still go through a credit check and we must obtain a landlord reference.
- Credit History: Choice Property Management requires that all applicants must consent to a credit history check. Poor credit will result in denial or be subject to a higher deposit. If you have disclosed to our staff that you are planning on filing bankruptcy or have already filed we cannot approve an application until the bankruptcy has been discharged. To determine satisfactory credit worthiness we run a report through a credit-reporting agency.
- Rental History: Choice Property Management must be able to confirm legitimate rental history. Verifiable rental history is defined by an offical written lease agreement between the applicant and a landlord (not friends or family). If you have been previously evicted, owe a previous rental related item or you were asked to move from a residence the application is subject to denial or a higher deposit may be required. If you have never rented before we charge 2 times the listed security deposit is required. Choice Property Management also checks eviction records daily to ensure there are no pending or previous evictions.
- Occupancy: The number of occupants may not exceed 2 persons per bedroom plus 1 additional person. All occupants, 18 years of age and over must submit an application (related persons may share an application).
- Pets: There is a $300 refundable pet deposit due before move-in. Policies on pets vary according to the home (check the rent list or call). However, none of our homes permit the following dog breeds: Pit bulls, Dobermans, Rottweilers, Chows, or near relatives. Pet policies are strictly enforced. Renters Insurance is required for entire tenancy & proof must be provided. If we receive complaints of noise, litter or other issues concerning the pet(s) we will ask you to remove it from the premises. No more than 2 pets allowed per household. Our multifamily units do not allow pets.
Cosigners
We may allow cosigners if they meet the below criteria :
1) Income is 6 times the rental amount
2) Residents of Indiana
4) Own real estate
5) Minimum credit score of 600
Documents needed to submit with Application
Please include the following:
- Recent paystubs
- Photo ID
- A copy of any military orders
- Documents supporting other sources of income including Social Security, Disability, Child Support, etc.
- Copies of any satisfied court judgments which may still appear on your credit
- 2 years tax returns (self-employed only)
Submitting Your Application
- Complete the Application Form – The form must be completely filled out and signed before it can be processed. Missing information will result in processing delays.
- Submit Copies of Recent Pay-stubs – Make a copy of your most recent pay-stub to submit with your application. If you are combining income to qualify please provide a pay-stub for each applicant.
- Pay $50 Application Fee - $19.00 each applicant after that - This is a non-refundable application-processing fee. Please Note: The $50 application fee is per applicant 18 years and older. ***** NOTE: No application will be accepted without payment of application processing fees***** Forms of acceptable payment: Money Order or Certified Check. No personal checks or e-checks, please.
- Submit the Application – Call 574-387-4416 to make an appointment with our property management office to deliver your completed applications, applications fees, photo ID, and proof of income. We cannot begin processing until all funds are received.
- Wait for our Call – Depending on the timely response of references your application will be processed within 1-2 working days.
Once you receive an approval we can accept 1/2 of the security deposit (excluding deposit specials) via money order, credit/debit card or cashier's check (no personal checks accepted for deposits) which will hold the property for a maximum of 30 days. Lease must be signed and all fee's (security deposit, rent, pet deposit, pet fee's, etc) must be paid prior to receiving keys.*
_________________________________________________________________________________________________________________________________________________
Fair Housing Policy It is unlawful and a violation of company policy to discriminate against any person based on race, color, religion, sex, national origin, handicap, or familial status, or to refuse to show, rent, negotiate, or otherwise make unavailable any rental unit. It is unlawful and a violation of company policy to discriminate against any person based on race, color, religion, sex, national origin, handicap, or familial status, or to refuse to show, rent, negotiate, or otherwise make unavailable any rental unit.
All Choice Property Management employees are trained to provide fair and equal treatment for all people, whether or not they are included in a protected class. If you have any questions or comments, please read the enclosed Fair Housing policy or contact our office.
Acknowledgment Applicant acknowledges that the above information is understood, and has been informed:
1. All $50 Application Fees are non-refundable.
2. If applicant withdraws application following approval, all deposits will be forfeited.
3. Information regarding tenant and landlord relationships please visit Indiana Code 32-31: Landlord Tenant Relationships
Relations http://www.in.gov/legislative/ic/2010/title32/ar31/.
**Choice Property Management complies with the Fair Housing Act as amended, prohibiting discrimination in housing based on race, color, religion, sex, national origin, disability or familial status.**Unit is not reserved until security deposit is paid. Once application is approved and security deposit is put on the unit, we can hold the unit for up to thirty (30) days only.
*What Is Indiana's Security Deposit Law? For the actual text of the law that applies to security deposits in the state of Indiana, please consult Indiana Code Annotated §§ 32-31-3-1 to 32-31-3-19.