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Applicant Selection Guidelines and Criteria

Version: October 2018

SuperiorPropertyRental.com, LLC (“Superior Property Rental) strives to maintain the highest of standards in Applicant selection for its properties. The following criteria have been standardized as a part of the selection process. All applicants 18 years or older must complete an application packet and be listed on the lease agreement as a responsible party.

If the that the application is approved, applicant(s) has thirty (30) days to execute a lease agreement, after which time a new application may be necessary. If a lease is not executed by an approved applicant within thirty (30) days of approval, then it could result in forfeiture of application fees. Leases will only be executed if 100% of projected security deposit is paid. All properties are on a “first come, first serve” basis to applicants who sign a lease and pay the required security deposit. No property will be held for any length of time until the lease is signed and all deposits have been paid. If application is processed and the background check results in material issues that were not disclosed in the application, applicant will forfeit application fee. The Lease Agreement and accompanying documents are available for Applicant to review, upon request, once the application is approved. Move in must be scheduled within seven (7) business days after receipt of 100% of all deposits or within seven (7) business days of the posted available date, whichever is sooner.

 Income

Applicant must provide proof of gross 3x monthly rent in combined income to be considered for lease. Acceptable forms are official company issued paycheck stubs, verifiable job offer on company letterhead, or verifiable affidavit of salary on company letterhead. Self-employed applicants must supply the previous year’s tax returns for proof of income. Company taxes must be accompanied with official proof of ownership (i.e. from licensed accountant, a business license, or copies of 1099 income statements) Relocating applicants must provide verifiable documentation of employment and income within 50 miles of residence. Unemployed/Retired/Student applicants may supply the previous year’s tax returns for proof of income, proof of student loans scheduled for disbursement during the lease term, statement of SSI, pension, or other retirement disbursements. If applicant does not meet this guideline, they may put down the highest applicable security deposit plus a $499 nonrefundable non-qualifying fee per person, assuming their combined gross monthly income exceeds 2x monthly rent. If applicant is unable to meet either of these guidelines, they may opt to have a suitable co-applicant/co-signer execute the lease agreement jointly. Full credit and background check will be performed on co-applicant/co-signer, who must meet the criteria.

 Credit

Applicant(s) must have an average credit score of 550 or above to be considered for lease. Credit scoring for security deposits criteria:

• Scores of 660 and above will pay a security deposit equal to $100 more than one month’s rental amount.

• Scores of 620 to 659 will pay a security deposit equal to 125% of one month’s rental amount.

• Scores of 580 to 619 will pay a security deposit equal to 150% of one month’s rental amount.

• Scores of 579 to 550 will pay a security deposit equal to 200% of one month’s rental amount.

• Applicants that have an average score below 549 or have no credit will pay a security deposit equal to 200% of one month’s rental amount plus a $499 non-refundable non-qualifying (i.e. 2 individuals apply, one has 750 credit and other has no credit. Security Deposit amount would be 200% one month’s rental amount plus $499 non-refundable non-qualifying fee).

•Roommates security deposit will be equal to 200% of one month’s rental amount plus a $499 non-refundable roommate fee per person above 3 (i.e. 3 tenants pay $499, 4 tenants pay $998, 5 tenants pay $1497, etc.).

• If applicant does not meet any of these guidelines, and Superior Property Rental deems applicant as trustworthy and able to make payments, the applicant may opt to have a co-applicant/co-signer execute the lease agreement jointly. Full credit and background check will be performed on co-applicant/co-signer, who must meet the criteria, in which case the security deposit would be to the criteria above along with a non-refundable fee of $150 per co-applicant/cosigner. Unused security deposits will be refunded to primary applicant within thirty (30) days after full of any lease agreement termination and/or submission of a forwarding address. Security deposit could be returned to another party, only after all parties on lease agreement present in writing to Superior Property Rental the name of applicable party. In the event roommate(s) moves out and at least one remains an occupant, security deposits will not be refunded until all occupants move.

 Criminal

Superior Property Rental will not lease to past sex offenders, or felons as listed in this criteria. A criminal background check will be conducted for each applicant. We do not accept co-signers or payment of lease value in full in lieu of fulfilling criminal history criteria.

• A conviction, guilty plea or no-contest plea, at any time for: any felony involving serious injury, kidnapping, death, arson, rape, sex crimes and/or child crimes, extensive property damage or drug-related offenses (sale, manufacture, delivery, or possession with intent to sell) Class A/Felony burglary robbery; or

• A conviction, guilty plea or no-contest plea, where the date of disposition, release or parole have occurred for: any other felony charges; or

• A conviction, guilty plea or no-contest plea, where the date of disposition, release or parole have occurred for: any misdemeanor or gross misdemeanor involving assault, intimidation, sex related, drug related (Sale, manufacture, delivery or possession) property damage or weapons charges; or

• A conviction, guilty plea or no-contest plea, where the date of disposition, release or parole have occurred for: any Class B or C misdemeanor in the above categories, or for misdemeanors involving Criminal Trespass I, theft, dishonesty or prostitution shall be grounds for denial of the rental application.

• Pending charges or outstanding warrants for any of the above will result in a suspension of the application process until charges are resolved. Upon resolution satisfactory to Superior Property Rental, if an appropriate unit is still available, the processing of the application will be completed. No property will be held awaiting resolution of pending charges.

 Bankruptcy

Applicant shall not be in personal or business bankruptcy, nor shall be contemplating such bankruptcy to be considered for lease. If applicant is currently in bankruptcy proceedings, Superior Property Rental may consider to waive these criteria with the highest applicable security deposit plus a $499 non-refundable non-qualifying fee, as well as a letter from applicants’ attorney stating they will not add Superior Property Rental as an additional creditor in this or future bankruptcy proceedings.

 Animals

Applicant shall not have pets generally or legally considered to be a vicious breed. Notwithstanding previous, Superior Property Rental reserves the right to not rent to tenants with pets, or limit number of pets. Applicants are required to go to www.petscreening.com to apply for pet(s) and/or assisted animal(s). Animal owners will be required to register their pet/assistant animal with Superior Property Rental, by providing copies of any applicable city license, vaccinations, photo, list the name, breed, age, and color of animal. Superior Property Rental will no longer accept any pet/assisted animal without completing the process with www.petscreening.com. Be sure to note that Superior Property Rental is your landlord to be linked to our account. If you are caught with an unregistered animal, you will be imposed a $1,500.00 fine. Pet owners will be required to pay for some or all of the following:

• Pet Deposit for dogs is $600.00 (refundable based on condition of premises) per dog with a limit of 2 dogs per household.

• Pet Deposit for cats is $1,000.00 (refundable based on condition of premises) per cat with a limit of 1 cat per household.

• A monthly non-refundable fee of $60.00 per month

 Eviction

If applicant has been involved in eviction in the previous 12 months; Superior Property Rental may refuse to lease property to applicant, or may require 2x any applicable security deposit.

 Occupancy

Applicant understands that more than two (2) persons, over the age of 18, constitute a roommate classification. Dwellings have a regular occupancy of two (2) persons per bedroom and units are based for maximum occupancy based on these criteria. Rooms not designated as a bedroom may not be used for sleeping. If a family has children that exceed this occupancy there will be a $200 per occupant above the maximum added to the security deposit (i.e. a family of 10 applies for a 3 bedroom unit they will have $800 added to the security deposit.)

 No Smoking

Superior Property Rental prohibits smoking inside its properties. Tenants are prohibited from burning incents or candles. If you are caught smoking or burning incents or candles inside any unit, you will be imposed a $2,000 fine. Any tampering or disconnecting of fire alarm(s) could result in eviction and/or a fine.

 Insurance

All tenants will be automatically be signed up for renter’s insurance through Renters Legal Liability, LLC (RLL) at a charge of $17.50 per month. You will have the option to opt-out. The only way to opt-out is to provide proof of identical coverage from the tenants’ insurance company, within 48 hours of occupancy, naming Superior Property Rental and the owner of the property you are residing in.

Superior Property Rental will not base any decision criteria on factors including Sex, Familial Status, Race, Religion, Creed, National Origin, or Disability. State and/or local laws may include additional classes, which are protected from discrimination in housing. Applicants could be rejected for reasons of insufficient income, criminal history, insufficient credit history, and incomplete information, including, but not limited to application, pet application, assistant animal application, proof of income information, and proof of personal identification.

Once you have completed your application, email any proof of identification and/or proof of income information to info@sprental.com. Applications will not be processed until receipt of this information.  Superior Property Rental will no longer accept ACH payments for applications, if a payment of this fashion is received you will be contacted to pay in the form of a credit card, asked to come in and pay with cash or the application will not be processed for a minimum of 10 days.


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