Required Information – Government issued ID, 2 most recent pay stubs (One month's worth) or 2 years tax returns or 3 months of bank statements if self-employed), pet screening application completed). Landlord contact info for last 3 years. All adults aged 18+ must apply & pay a $75 app fee.
Income and Credit Requirements -Minimum Gross Income Requirement (before taxes) is 3 times the rental rate of the property you would like to rent. Credit above 600 is a must however as long as there are no evictions on record and proof of rent or mortgage payment history is supplied showing on-time rent payments for the previous year the application will be considered. Student loans and medical bills will not be factored against the applicant. Additional deposit may be considered depending on the breed of pets. Refer to listing for pet information. Typical Pet Deposit is $450 dollars per pet. If additional documents or information is needed we will contact you with those additional instructions.
Security Deposits -Applicants with better credit and references will generally be approved at a security deposit of 1 month’s rent. Applicants with low credit scores and references may still be approved with an additional security deposit up to 3x monthly rent.
Common Reasons to be Declined – evictions, unpaid balances due to landlords, credit score beneath 600, insufficient income, unsatisfactory references, recent felonies or crimes against people and recent bankruptcies. Unqualified occupants, pets and/or vehicles can also be a reason for a decline.
Section 8 Vouchers –Housing Vouchers (section 8) are accepted for all properties under Royal Palm management providing rental requirements are met.
For a detailed list of our requirements and process please click here.