PROSPECTIVE TENANTS

In this section you will find basic information about the qualifications that must be met to be approved for a rental with Lane Property Management.

 

If you would like to apply for any of our listings, please click the apply now button at the top of this page for instructions. 

 

1. While we do not have a minimum credit score to qualify, we do run a credit check and use the information obtained to make the final decision on whether an application will be approved and the amount of security deposit that will be required. Any utility accounts in collections must be paid prior to application acceptance.

 

2. Gross monthly income must equal a minimum of 2.5 times the monthly rent.

 

3. Any prior eviction or outstanding balance owed to a previous landlord will be grounds for application denial.

4. Lack of previous rental history will likely result in a larger deposit or a cosigner requirement.

 

5. Security deposits will range from 1 to 3 times the monthly rent plus a non-refundable, $100 administrative fee. Deposit amounts will be dependent on the overall application. 

 

6. Cosigners will be accepted if an applicant would not otherwise qualify due to credit requirements but will rarely be accepted if a cosigner is being used to meet income requirements. Cosigners must have an income of 3.5 times the monthly rent and must have good credit. Any time a cosigner is required, the security deposit will be a minimum of 2 months rent.

 

7. The criteria for qualifying with a minimum deposit will be good credit and two years of consecutive work history, with a minimum of 6 months at your current employer.

 

8. Criminal history will be verified. The nature of your criminal history may disqualify your application.

 

9. Any open bankruptcy will be cause for denial of your application. Any bankruptcy discharged with in the last 36 months will require a cosigner. Bankruptcies older than 36 months will have no relevance to your application other than the effect it currently has on your credit report.

 

10. Pets will be considered on a case by case basis. Certain breed restrictions may apply. In most circumstances there will be an additional deposit requirement. Depending on the property, a portion of the pet deposit may be non-refundable and there may be additional “pet rent.” Documented service and companion animals will be accepted with no additional pet rent or deposits, providing proper documentation is submitted.

 

11. Once an application is approved and the prospective tenant is notified of approval, a holding deposit of $500 must be paid within 24 hours to secure the property until lease signing. If the prospective tenant does not pay a holding deposit within 24 hours, Lane Property Management will seek a different tenant. This deposit is non-refundable if the tenant decides to not rent the property. The $500 will be applied to the full security deposit at the time of lease signing. All deposits and move in amounts owed must be paid by cashiers-check or money order. Rent can be paid by personal check, cashiers-check or money order for months going forward. Cash will NOT be accepted for rent payments.

 

12. Lane Property Management acts in accordance with the Federal Fair Housing Law. All applications will be processed without regard to race, color, sex, religion, handicap, familial status or national origin.