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 info@qwestpm.com.
Thank you!
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!!
Additionally, nothing contained in this application criteria and requirements disclosure shall constitute a representation that occupants currently residing in any of our managed properties have met or currently meet these guidelines.
Application Processing and Time Frame:
Applications are not considered to be "submitted" and will not be processed or reviewed until the application fee(s) are paid in full. 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.
** Section 8/HUD Housing Choice Vouchers: Qwest Property Management, LLC considers a HUD Housing Choice Voucher/Section 8 Voucher as "income" with regard to our company policy for income requirements. However, HUD requires that a housing provider must sign the HUD HAP Agreement and Tenancy Addendum in order to participate in the HUD HCV/Section 8 program. Per the HUD HAP Agreement and Tenancy Addendum, a housing providers Lease Agreement is then no longer the controlling legal document between all parties. Qwest Property Management, LLC manages and represents the properties that our clients own. Many of our clients are not willing to give up control of their assets and prefer not to be forced into signing a 3rd party contract which trumps the terms of the Lease Agreement. So, due to HUD's requirements, HUD/Section 8 will only allow you to rent certain properties in our 3rd party managed portfolio.
To find which of our properties that HUD will approve for Section 8/HVC, look in the rental listing in either the "amenities" section or in the description of the rental listing, it will state either "Accepting HCV's" or "Accepting Housing Choice Vouchers" or "Accepts Section 8 Vouchers." If it DOES NOT state that HCV's or Section 8 is accepted in the rental listing, then HUD/Section 8 will not allow you to rent that property because HUD/Section 8 will not allow the lease to be the controlling legal document between all parties.
COSTS:
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 lease closing administrative charge for document preparation and facilitation.
Rent Proration:
All rents are prorated to become due on the first (1st) day of each month. If you move in before the 20th of the month, we'll collect a proration from the move-in date through the last day of the move-in month. If your move-in date is on or after the 20th of the month, you'll pay next month's rent plus the proration for the current month, before move-in.
Examples:
- If Move-in Date is April 19:
- Rent amount due at lease signing would be 12 days of rent for April
- Your next rent payment would be due on May 1st
- If Move-in Date is April 21:
- Rent amount due at lease signing would be 10 days of rent for April, PLUS
- 1 additional month of rent for May
- Your next rent payment would be due on June 1st
If the resident(s) are applying with a pet(s), please see the Pet Policy section below for additional move-in and monthly costs.
Risk Mitigation Administrative Charge:
Depending on the applicant(s) credit, an additional risk mitigation administrative charge 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 housing provider 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 charge 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 is based upon the applicant(s) credit score(s) and which will determine the applicant(s) monthly Risk Mitigation Administrative Charge:
Credit Score Risk Mitigation Administrative Charge
650+ $0.00
620-649 $25.00/mo
600-619 $35.00/mo
550-599 $45.00/mo
500-549 $75.00/mo
<500 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 Risk Mitigation administrative charge 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 risk mitigation administrative charge.
** In the event that a Co-Signer is required to make up for either the Applicant(s) lack of qualifying credit or qualifying income, the Risk Mitigation Administrative monthly charge will automatically default to the highest monthly charge amount stated above.
Resident Broker Fee:
MONTHLY RESIDENT BROKER FEE: QWEST PROPERTY MANAGEMENT, LLC IS A LICENSED MICHIGAN REAL ESTATE BROKER ACTING AS AN AGENT/BROKER FOR PROPERTY OWNERS. QWEST PROPERTY MANAGEMENT, LLC DOES NOT OWN THE PROPERTIES THAT WE MANAGE. WE OFFER RESIDENTS ACCESS TO OUR MANAGED PROPERTY PORTFOLIO AND PROVIDE A FAIR, TRANSPARENT, AND EASY RENTING EXPERIENCE. FOR THIS SERVICE, AND IN ADDITION TO THE MONTHLY RENT CHARGE, RESIDENTS WILL PAY A $29.00 PER MONTH BROKER FEE TO QWEST PROPERTY MANAGEMENT, LLC.
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.
INCOME:
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, but not limited to: social security benefits, retirement or pension benefits, disability payments, trust funds, substantial savings, public assistance, alimony or child support, public assistance HCV/Section 8, etc.
RENTAL HISTORY:
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.
CREDIT HISTORY:
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.
BANKRUPTCY:
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.
CRIMINAL:
Qwest Property Management, LLC will conduct a criminal background check on all applicants and individuals aged 18 and older who will be residing in the property to determine if there have been any criminal convictions within the previous 5 years. A felony conviction related to the following categories of offenses will be grounds for denial: Property offenses, major drug offenses, fraud offenses, and major violent offences against persons. Any other category of offense will not be considered. These categories were identified because they involve conduct by a person whose tenancy may present a current or direct threat of harm to others or the risk of substantial damage to the property of others. If applicant has an open criminal case(s) or outstanding warrant(s), the applicant will be required to provide a copy of the police report and any other additional related documentation requested so management can determine if the pending criminal concerns would be subject to any of the above categories and if a determination can be made prior to a final resolution being made by the courts. Multiple felonies will not be considered unless they are 15 years or older. Any sex offense within the last 20 years will not be considered. If an applicant believes that their application was denied in error based on their criminal history, they can request an individualized assessment to review the circumstances of the history and any rehabilitation efforts made by the applicant.
CO-SIGNERS:
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 or poor credit history 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.
SECURITY DEPOSITS:
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.
MULTIPLE APPLICATIONS:
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 considered 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 application 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.
PET POLICY:
No pets of any kind are permitted without written permission of Qwest Property Management, LLC. An additional pet charge 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 inspection charge is due when signing the lease and prior to moving in. Management will conduct one on-site pet review inspection during every lease term. The initial $200.00 pet review charge is collected upfront and covers the first pet review inspection during the first lease period. Residents will be charged $200.00 per pet review for all ongoing pet review inspections conducted after the initial lease period, and no more than one review will be charged per the initial lease term or any renewed 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" or a potential liability 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.
ASSOCIATION APPROVAL:
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.
RENTERS INSURANCE:
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.