Minimum Rental Criteria
Our Minimum Rental Criteria is listed below:
- All Occupants/Residents over the age of 18 must complete a separate application.
- An application fee of $45 per adult applicant is required with each submitted application.
- Application fees are non-refundable under any circumstances.
- Valid government-issued I.D.
- Valid Social Security Number or Tax Identification Number
- Provide three (3) Years of previous landlord or rental history (if applicable)
- Provide proof of Income - 2 most recent pay stubs or letter from employer or accountant.
- Have a combined monthly income from all sources of at least 3x the monthly rent
- Co-signers/Guarantors are required to either be able to be underwritten for a Deposit Free™ Bond or have a credit score of 650 or higher, stable income and own real property in the State where the rental property is located. An additional guarantor/co-signer fee of $150 will be added to every lease and is non-refundable.
- At least one applicant needs to file a Pet Profile on Maxfield.PetScreening.com for the Application to be considered completed.
Applicants not meeting our minimum requirements may be declined or offered a conditional offer. A conditional approval may require additional documentation, require an increased security deposit and/or in some cases, require some applicants to have a qualified cosigner or guarantor.
- Common reasons applicants may be denied or offered a conditional approval.
- Combined income is below 3x the monthly rent
- Insufficient documentation
- Debt to income ratio is greater than 50%
- Active bankruptcy or that has not been discharged for at least 6 months.
- Any current or previous evictions within the last 5 years
- Negative rental history, landlord references, eviction notices, or unpaid balances due to landlords or utility companies
- More than 3 unrelated occupants or roommates
- Smoking/Vaping when property is offered as non-smoking
All application status updates will be sent via email or by text message. We understand that applicants want to know as quickly as possible. Calling our office will just slow down the approval process. If you have not heard from us after 48 hours please contact us at info@MaxfieldRents.com or text us 620.374.9729.
Our legal department wants us to remind you that Maxfield Property Management is an agent of the Owner and represents the Owner in regard to the property. That means at no time does Maxfield Property Management, the Broker or its Agents become an agent or fiduciary for you, either expressly or implied.
Rental properties are offered to the public for leasing in compliance with all local, state and federal housing laws, including but not limited to, any federal and state laws and regulations prohibiting discrimination on the basis of race, color, religion, sex, national origin, handicap or familial status.
All applications will be considered until an applicant is approved and earnest money has been paid. Rental Applications are reviewed and evaluated based on the same standards for each property on a first-come-first-serve basis, one person, family or group of individuals at a time. Any false statements or inconsistencies on the application will result in an automatic denial.
ALL OCCUPANTS/RESIDENTS over the age of 18 MUST complete a SEPARATE application and pay a $45 application fee for each online, electronic application.
Forgetting or not paying the application fee at the time of application will put your application on hold until payment is made. If for any reason the fee is not collected during the application process, and you lease a property through us, you will be billed on your tenant statement. APPLICATION FEES ARE NON-REFUNDABLE.
In addition to your rental application fee, you will also be required to provide a copy of a valid form of identification such as a Driver’s License, State Issued ID, Passport or other generally accepted photo I.D. You will also be required to disclose how you earn your income and provide proof of income. You will be able to upload a screenshot or photo from your smartphone before you submit your application online. You may also email that info to us a info@MaxfieldRents.com.
Most of our properties require that all applicant(s) combined gross income be at minimum 3x the monthly rent amount. For example, if the rent amount is $1,000 per month, the minimum combined incomes of all applicants would need to be no less than $3,000. In case you were wondering, that’s gross wages…aka before taxes. In some situations, such as students, you may be asked to provide supplemental income sources, or asset statements (including 401K, savings, etc.)
Employment must be current and verifiable and likely to continue for at least a year. If you are relocating because of work more than 30 miles from your current residence, you may be asked for a letter from your new employer stating your income and hours worked. If you are self-employed you will be asked for alternative ways to verify income such as bank statements, tax forms and/or a letter from a CPA attesting to your last two years of income.
All prior residency situations will be considered, however, rental history and residency history (if you owned a home) will be verified.
We are often asked if we will take someone with bad credit. Bad credit is subjective in the leasing business. While we understand that many tenants may not have perfect credit. We work with tenants in every situation. Our general credit policy states that we work with tenants to find options and solutions that work for the tenant and that is acceptable to the Landlord/Owner. Oftentimes this means that we may ask tenants for an increased security deposit and/or to have a cosigner. (see below).
We pull credit reports on all applicants and each credit situation will be evaluated, however, we score tenants in 1 of 7 risk tiers. To qualify for our Standard Deposit (which is listed on each property ad) a tenant must score in one of the three top tiers by meeting the following criteria:
- Have no seriously delinquent, past due, or collection accounts.
- Have a 650 credit score or higher.
- No more than 2 late payments in the last 12 month period.
- No more than 1 NSF in the last 12 month period.
- No non-compliance issues that resulted in a non-renewal or eviction in the last 5 years.
- No money owed to a Landlord.
We understand that some tenants may have credit issues but remember our general credit policy states that we work with tenants to find options and solutions that work for the Tenant and are acceptable to the Landlord/Owner. However, there are some cases that cause an automatic decline such as a credit score below 500, bankruptcy filing within the past 6 months, owing money to a previous landlord, and/or certain criminal activity as listed below.
Applicant(s) may be denied based upon the number, type, and breed of pet(s) as found on the application, regardless if the property ad noted “pet friendly” or any version of “pets accepted”. *This does not apply to ANY assistance animals.
We screen criminal databases during our application process. Unless prohibited by law, applicants must meet our criteria. Applicants that are registered sex offenders will be denied. Applicants must have no felony convictions less than 7 years old that involve violent crimes against persons or property, including but not limited to murder, arson, kidnapping, assault, bomb-related offenses, robbery, burglary, terrorism, or involvement in the manufacturing or distribution of any illegal substance. All other felony convictions must be more than 5 years old. Conviction of any drug-related offenses involving possession only, or alcohol-related offenses, where no one was permanently injured or killed, must be at least 2 years old.
In addition to the above criminal activity criteria, successful completion of any felony sentence at least 2 years ago and no new criminal activity for at least 2 years before this application. Any outstanding warrants or criminal charges that are awaiting trial may be accepted.
Applicants are always welcome to submit additional information regarding screening requirements and management will review that information on a case by case basis.
Once we have a completed application, we issue most decisions within 48 hours of submission, or at least within 5 business days. Completed applications are applications that do not lack information asked for the application process, including but not limited to proof of income (paystubs, W-2 or tax returns), copy of valid ID for ID verification and payment of application fees. A completed application also means that all applicants you are applying with have submitted their information as well.
At our own discretion, if we determine that an applicant does not meet our criteria or that we lack sufficient information to issue an unconditional approval to lease the property, we may issue a conditional approval. A conditional approval may require additional documentation, require an increased security deposit and/or in some cases, require some applicants to have a qualified cosigner or guarantor.
Qualified co-signers/guarantors must have a credit score of 650 or higher, stable income and own real property in the State where the rental property is located. An additional guarantor/co-signer fee of $150 will be added to every lease and is non-refundable.
Once an application is reviewed and approved, the approved applicant will be required to pay a Hold Deposit to hold the property and hold your place in line while we send out a lease for signature. If no Hold Deposit is paid, then the property will remain on the market and offered to the next approved applicant, regardless of whether or not you still want the property. You may place the property on hold for 48 hours for a minimum of $1000 but the Landlord reserves the right to ask up to the full Security Deposit amount to hold the property and remove it from the market. During this time, this allows the parties to sign a lease and pay the Security Deposit. The Hold Deposit becomes 100% non-refundable upon receipt.
Until and unless all of these procedures are completed, the property will remain on the market and any offer to lease may be rescinded until signed by the Landlord or Owner.
AN APPLICATION DOES NOT OBLIGATE LANDLORD OR BROKER TO EXECUTE A LEASE.
Applicants represent that all statements on the Application form are true and complete and hereby authorize verification of such information. False information is grounds for Maxfield Property Management’s rejection and termination of the Application and any right of occupancy. Applicant(s) affirm they are not on the US Government’s Office of Foreign Asset Control (OFAC) list of Specifically Designated Nationals and Maxfield Property Management has permission to check against the OFAC list to determine if federal law prohibits any of the individuals from participating in real estate transactions. Additionally, to comply with the Patriot Act, Maxfield Property Management follows the Customer Identification Program standards. Federal law requires that we obtain, verify and record information that identifies each person with a security deposit account. What this means for you is that in addition to requiring your name, previous address, date of birth and social security number, we may also ask to see other identifying documents to verify your identity.
Lead Based Paint Disclosure
If a Premises was constructed prior to 1978, there is a possibility that it may contain lead based paint. LEAD WARNING STATEMENT: Housing built before 1978 may contain lead-based paint. Lead from paint, paint chips, and dust can pose health hazards if not managed properly. Lead exposure is especially harmful to young children and pregnant women. Before renting pre-1978 housing, lessors must disclose the presence of known lead-based paint and/or lead-based paint hazards in the dwelling. Lessees must also receive a federally approved pamphlet on lead poisoning prevention. The pamphlet “Protect Your Family from Lead in Your Home” is available in English on the Tenant Portal and in multiple languages at the Environmental Protection Agency’s website: http://www2.epa.gov/lead/protect-your-family-lead-your-home-real-estate-disclosure.
Non Discrimination Policy
It is Maxfield Property Management’s policy not to discriminate against any person because of that person’s race, color, creed or religion, sex, sexual orientation, gender identity, national origin, age, marital status, military status, handicap, disability, or any other protected status. You may ask Maxfield Property Management to consider any reasonable accommodation or modification you need because of a disability.
Once the lease is signed by you, the Tenant, you are obligated under the terms of the lease, regardless of when the lease is countersigned by the Landlord.
If you have any questions about our application or approval process, please contact Maxfield Property Management at 385.276.3500 or email us at info@MaxfieldRents.com.