What is your rental criteria?
Below is our Rental Process and Application Criteria Disclosure Statement. If after reviewing the statement if you would like to apply for one of our available properties for rent. Please click the following link to our available properties page on our website http://www.qwestpm.com/grand-rapids-homes-for-rent
If you have any additional questions or concerns, you can reach us at firstname.lastname@example.org.
Qwest Property Management, LLC
Rental Process and Application Criteria Disclosure
We believe that our residents deserve to be treated fairly at all times. As an equal opportunity housing provider, Qwest Property Management, LLC provides housing opportunities regardless of race, color, national origin, religion, sex, physical or mental disability, familial status or any other classification protected by applicable federal, state or local law. Qwest Property Management, LLC is the management agent for many separate property owners; therefore, policies at each property may vary depending on the particular owner's preference.
**It is important that you read the following screening criteria below. If you do not believe that you will pass the screening criteria, we recommend that you DO NOT complete the application and DO NOT pay the application fee!!
Application Processing and Time Frame:
Processing an application normally takes between 1-3 days (weekends & holidays can cause delays as well). In some cases, approval of homeowner associations, condo associations, homeowners, or unforeseen circumstances may require some applications to take longer. When delays occur they are typically due to not having the proper supporting documents submitted timely, or not being able to receive references timely from past landlords or employers, etc. To make sure your application is expedited, make sure you provide complete information on the application and by uploading all of the proper required documents as outlined in the application. If we contact you asking for information, you must respond and get us the required information as soon as possible. We are processing a lot of applications and we do not have a lot of time to chase applicants for required documentation. If you fail to provide us with the requested information, after 3 days we will assume that you wish to withdraw your application for the property you had applied for.
You will be contacted immediately upon the determination of approval or denial. All adult applicants over the age of 18 must submit a fully completed, and signed rental application and application fee.
All applicants must see the interior of the property before an application should be submitted. The property must be accepted in, "AS IS" condition before an application can be accepted, except where there is written agreement for alterations to be made. Verbal representations are non-binding. Our goal is to provide quality, up to code housing. Any housing violations will always be addressed.
** No rental property will be held vacant at the applicant(s) request. If your application has been approved and you have officially been offered the rental unit. You will be expected to sign the lease electronically and pay all of the initial move-in costs immediately. We will not hold the rental unit for an applicant who is not willing or able to sign the lease and pay the initial move-in costs immediately. We do not offer the option to "hold" the property with a holding fee or deposit of any kind. The only way to lock up the property for yourself is to sign the lease and pay the initial move-in costs. It may be possible that the actual lease start date can be a different date than the date that the lease will be signed. But, that is not guaranteed and any request for such delay, will be considered on a case by case basis and the request should be made prior to the applicant applying.
Typically, the lease start date must be within 14 days from when the applicant(s) submit their application(s). Applications are considered "processed" as soon as they are submitted and the application fee is paid, and so, ALL APPLICATION FEES ARE NON-REFUNDABLE.
Application fees are NON-REFUNDABLE because all applications are "processed" the moment they are submitted. The non-refundable application fee is $40.00 each and anyone who is 18 or older and will be living in the rental unit must apply. Incomplete applications or applications submitted without the proper documentation either uploaded or emailed to us will not be considered and again, application fees will not be refunded. If a co-signer is allowed, they will also pay the same application fee and must complete the Co-Signer online application. And, again, application fees are non-refundable so PLEASE read this entire application criteria disclosure and only apply if you are confident that your application will be approvable based on the criteria below which you will be compared against.
All initial move-in charges and subsequent rent payments/charges thereafter will be paid online or at our CashPay Partner stores. No payments will be accepted either in the office of management or by mail. Qwest Property Management, LLC reserves the right to change any payment processing policies, procedures, or options available to our residents.
Upon closing the lease agreement, new resident(s) agree to pay Qwest Property Management, LLC a $100.00 non-refundable administrative fee for closing the lease agreement.
Additionally, upon closing the lease agreement, new resident(s) will be required to pay the full security deposit, which is generally equal to one month's rent. If the lease start date will be between the 1st and 20th of the month, then the applicants will only need to pay the prorated rent charge for the balance of the month in which the lease starts. However, if the lease start date is after the 20th of the month then they will be required to pay the prorated rent balance for the current month and the full rent amount for the following month. For example, if it is determined that the lease will start on November 25th, then the applicant(s) will be required to pay the prorated rent amount for the 6 days* remaining in November (11/25 - 11/30 *6 days because rent is charged on the day the lease starts) and, they will owe the full rent amount for December as well at the time when they sign the lease. But, if the lease starts on November 15th, for example. The applicant(s) would only have to pay the prorated rent balance of 16 days. They would then next owe rent again on the 1st of December.
If the resident(s) are applying with a pet(s), please see the Pet Policy section below for additional move-in costs and additional monthly fees.
Credit Contingency Administrative Fee:
Depending on the applicant(s) credit, an additional credit contingency administrative fee may be added as a recurring monthly charge to the tenant(s) account. It has been shown through both statistical and historical analysis that an applicant's overall credit rating directly correlates to the risk and likelihood of default and unpaid rent. Applicant(s) with a lower overall credit rating pose a significantly higher risk and liability. The risk a landlord takes with an applicant with poor credit is similar to a bank charging a higher interest rate to a borrower with poor credit based on the higher risk for potential default. In an effort to mitigate that risk and allow applicants with a less than perfect credit rating to still gain approval for their chosen property. We have implemented a scoring model that allows applicants to pay a monthly fee to offset the increased risk and exposure that comes with approving applicants with less than a reasonable (not excellent) credit rating. The following scoring model based upon the applicant(s) credit score(s) and which will determine the applicant(s) monthly Credit Contingency Administrative Fee:
| Credit Score Credit Contingency Administrative Fee
<499 Automatic Decline or a Co-Signer would be required
** For multiple applicants who are applying together for a rental unit, the scores are then averaged and rounded up to the nearest whole number. This average credit score will be used for the purpose of determining the monthly credit contingency administrative fee using the scoring model above. If an applicant's credit score is returned with no score, then a default score of 500 will be used for the purposes of determining the credit contingency administrative fee.
Resident Selection Criteria:
Any requested exceptions to the criteria will need to be submitted in writing to Qwest Property Management, LLC for consideration. If approval is then given for such exceptions, additional security deposit, co-signers and/or additional "higher" rent may be required.
The household gross income must be at least three times (3x) the monthly rental rate for the unit they are applying for. In the event of multiple applicants applying together to create a "household." Regardless of the number of applicants who will be applying for a single rental unit together, only the two highest income producing applicants within the group will be considered when determining the "households" gross monthly income to be used for evaluating against our 3x income requirement. Incomes must be verified in writing; applicants must provide your 2 most recent pay stubs. If you are newly employed, you will be required to provide your offer letter or a statement from your employer on company letterhead stating your start date and expected income.
If the applicant(s) are self-employed, then proof of income can be shown by providing one or more of the following: (1) provide a signed copy of the most recent year federal income tax return. (2) copies of 1099 forms from contract labor performed in the most recent prior tax year. (3) provide bank statements for the previous 2 months.
If you have income from another source then you will need to provide us verifiable documents. Some "other income" sources are: social security benefits, retirement or pension benefits, disability payments, trust funds, substantial savings, alimony or child support, etc.
Rental history must be rated satisfactory or better. Previous rental history reports must reflect timely payment, sufficient notice of intent to vacate, no complaints regarding noise, disturbances or illegal activities, multiple NSF payments, and no damage to a rental property or failure to leave the property clean and without damage when you left the property. You cannot have an outstanding balance with any landlord.
For Credit Scoring information, refer to the above Credit Contingency Administrative Fee section. Credit history and/or Civil Court Records must not contain slow pays, judgments, eviction filings within the past three (3) years. If you are denied due to credit, we will provide you with the name of the credit reporting agency so you may receive a copy from the same credit bureau. By law, we cannot discuss the contents of your credit report and can not provide you with a copy either.
If you have unpaid debts with any utility company, that is cause for automatic denial.
Any current or open bankruptcy filing will be grounds for denial of an application. If you have a prior bankruptcy that has been discharged or dismissed, then your application will still be considered.
Current or pending felony indictments will be grounds for denial. Additionally, within the last 5 years, you can not have any felonies of illegal manufacture or distribution of a controlled substance or felonies of any kind. Felonies resulting in bodily harm or intentional damage or destruction of property, for example, “arson", will not be approved regardless of how old the charge is.
We reserve the right to require a co-signer and/or a higher security deposit. Co-signers are accepted at the manager's discretion only. A co-signer will be required to have an income that is 5x the monthly rental amount. A co-signer will be signing a guarantee to the lease and will become legally responsible for the rent and performance of all lease terms along with the applicant(s). A co-signer will only be able to cure an income shortage on the applicant(s) application. A co-signer will never be approved to cure an applicant(s) criminal status or eviction history, per the criteria. In other words, if you have a felony within the last 5 years or you have been evicted within the last 3 years, even a co-signer would not make your application approvable. A co-signer will only be accepted due to the applicant(s) not meeting the 3x income requirement or due to poor credit scores.
Security deposits are security for faithful performance by tenants of all terms, covenants, and conditions of the lease agreement and tenants may not dictate that the security deposit be used for any rent due. Unless claimed due to a breach of lease or damages, the security deposit is refundable when the tenants move out of the property at the expiration of the lease term. However, as part of the lease agreement, tenants acknowledge that the carpets will be professionally cleaned after the tenant moves out and at the tenant's expense, which will be deducted from the security deposit.
It is likely that we may receive multiple applications from unrelated individual applicants on the same property at approximately the same time. If such is the case, we will process all applications for consideration as to what we (in our sole discretion) deem to be the applicant(s) who would be the least likely to default on any and all terms of the lease. In such cases, more than one applicant may be approvable. Because we contractually and legally represent the best interest of the rental property and the property owner, we will accept the strongest application, which may not necessarily be the first application received. In determining the strongest application, we might as an example compare two approvable applications where one desires to occupy immediately and has stated they are willing and able to sign the lease right away. Versus the other who has requested to start the lease 14 days from the date they applied. In this example, the "strongest application" and most beneficial to the property and property owner is the applicant who is willing to start the lease immediately upon their application being approved.
In order to evaluate the various applications, it is necessary for Qwest Property Management, LLC to expend time and cost in credit reports, criminal reports, and other administrative expenses. Hence, our policy is that the application fee is non-refundable. If your application is approvable, but not the approved one for the property for which you were applying, you may consider applying for other available properties that we may have, without payment of an additional application fee for up to 60 days from the notice we issue you at that time.
No pets of any kind are permitted without written permission of Qwest Property Management, LLC. An additional pet fee of $25/month, per pet, will be required for all approved pets. No more than 2 pets per property. A non-refundable $200.00 pet review fee is due when signing the lease, and prior to moving in. Management will conduct two on-site pet reviews during every 12-month lease period. The initial $200.00 pet review fee collected upfront covers the first two pet reviews during the first 12-month lease period. Residents will be charged $100.00 per pet review for all ongoing pet reviews conducted after the initial 12-month lease period, and no more than 2 reviews will be performed per 12-month lease term.
The following pets will not be accepted: Dobermans, Pit Bulls, Stafford-shire Bull Terriers, Chows, Rottweiler, German Shepherds, snakes of any kind, or any animal or creature considered to be "exotic" by Qwest Property Management, LLC. Restricted pets are not limited to what is listed above. Birds, rabbits, or other smaller caged animals, along with fish with tanks that are 3 gallons or larger are also considered pets, and will be subject to all pet costs and pet reviews described above.
You are required to upload a picture of you with your pet(s) into the rental application when applying. Please have the photos ready when you start the online application process.
Where applicable, this contract is subject to and contingent upon the prospective tenant(s) being approved by the condominium/homeowners association. The prospective Resident(s) will pay any non-refundable application fee required by the condominium/homeowners association and make application for association approval within 3 days from the effective date of this contract. Occupancy shall not be permitted prior to association approval. In the event that the prospective Resident(s) are not approved by the association and/or Qwest Property Management, LLC, this contract will terminate and any rents and/or security deposits paid will be refunded to the prospective Resident(s). Refunds are subject to applicant(s) funds having cleared our bank account. The non-refundable application fees paid to the association and to Qwest Property Management, LLC are not refundable under any circumstance.
STATE/CITY/MUNICIPAL/HUD OCCUPANCY CODES:
Depending on the location of the property in which you are applying, there are regulated occupancy limits that we must abide by. For example, in the City of Grand Rapids, no more than four unrelated adults can occupy a single dwelling. If you apply and your roommates/household do not conform to these occupancy limits, your application fees WILL NOT be refunded. It is the applicant's responsibility to confirm with the local/state/municipal to confirm the applicant's roommates/household will comply with occupancy codes.
Qwest Property Management, LLC does not require our residents to have a renter's insurance policy. However, Qwest Property Management, LLC and the landlord, highly recommend that the residents obtain renter's insurance. A renter's insurance policy is very inexpensive and can usually be purchased cheaply through your auto insurance provider or any insurance agency or broker. A renter's insurance policy is needed to save a resident from a potentially major financial loss or subjected to financial liability. For example, if a toilet overflows and it is determined that the resident was responsible for the backup and all subsequent damages to the property. Or, a storm comes through and water leaks into the basement and destroys much of your personal property. Or, the power goes out and ruins all of your food. A sewage backup forces you into a hotel while repairs are being made. Or, the home is burglarized. There are a million reasons why you should get a renter's insurance policy and being that it is so inexpensive, it is money well spent.