QUALIFICATIONS CRITERIA FOR APPLYING
Revised January 1, 2022
Harbor Property Management follows all FEDERAL & STATE HOUSING LAWS and does not discriminate against any person based on race, color, religion, sex, national origin, familial status, or handicap.
- APPLICATION PROCESS (First come – First Serve): In order to apply for a property, you must view it first. Once all required documentation is received for everyone in the party applying and the required application fees have been paid, we will begin processing the applications in the order in which they are received. (Incomplete applications will not be processed). HPM will not accept a comprehensive reusable tenant screening report, obtained by applicant. Each applicant will be required to qualify individually or as per specific criteria areas. The denial of one applicant will result in the denial of the entire household. Rude, disruptive, threatening, or harassing behavior towards Harbor Property Management staff, clients, residents, or vendors will disqualify application.
- EVICTIONS: The applicant can have no evictions or unlawful detainer actions on their record during the past (10) years. This would include even an unlawful detainer action without a monetary judgment. In general, an eviction would be an automatic rejection. Monies owed to previous landlords/or creditors will automatically be denied, unless debt is verifiably satisfied, and proof documents shown.
- BANKRUPTCIES: must be discharged and at least (6) years old.
- APPROVED APPLICANTS: Once final approval is received, the applicant will have 24 hours to remit security deposit payment in the form of certified funds. Rent will be pro-rated for the month you move in. If you move in after the 14th, the following month’s rent will also be due. Once the deposit is received, the lease will be sent via email with electronic signature for execution. Once the lease is emailed, the approved applicants will have 48 hours to execute the lease, or it may be canceled.
- OCCUPANCY STANDARD “The Two Plus One Rule”: Occupancy is limited to 2 people per bedroom plus (1). For example, a one-bedroom home is limited to (3) occupants. A two-bedroom home is limited to (5) occupants. A three-bedroom home is limited to (7) occupants. A four-bedroom home is limited to 9 occupants.
- IDENTIFICATION REQUIREMENTS: All applications must provide a photo ID and a valid Social Security number or TIN. Acceptable photo IDs include but not limited to: State issued ID card or Driver’s License; Passport or any other Government issued ID. (Military cards are not acceptable).
- AGE REQUIREMENTS: All occupants 18 years old or older must be listed as a lessee and must submit a fully completed application. ALL LINES MUST BE FILLED IN. If a line is inapplicable to you, you must place an “N/A” on the line. Inaccurate, false, or materially misleading information will disqualify applicant as a prospective renter.
- PRIOR RENTAL HISTORY / MORTGAGE REQUIREMENTS: (2) years of verifiable and favorable rental history from unbiased sources – relatives, in-laws, and/or employers are not considered unbiased sources. Additionally, proof of on-time rent payments / mortgage payments (i.e. rent receipts, cancelled checks, or bank statements) for the preceding three months must be verified.
- CO-SIGNER / GUARANTOR: A Co-Signer is one who will guarantee the rent for another person but will not live in the unit. The co-signer must complete a rental application. Co-signer will be on the rental / lease agreement with the applicant. To qualify, a co-signer must be able to cover their own bills plus the rent of the applicant’s unit. The co-signer will be subject to the qualifications above. Co-Signer may be considered in the following cases:
- First time renter who meets the above credit and income requirements.
- Renter who has not been on the job for 1 year but meets the rental history and credit requirements.
- Renter who has no credit history but meets the rental history and income requirements.
- INCOME REQUIREMENTS: We do not accept payments from third parties unless required by law.
- All applicants must provide a verifiable income.
- Applicants net monthly income must be at least 2.5 times the rent amount. Net Monthly Income Defined: Net monthly income LESS monthly debt payments reported by trans union credit bureau = NET MONTHLY INCOME. We do not use gross income. Applicant’s other monthly obligations will be taken into consideration when determining applicant’s ability to pay the rent.
- The source of income should be considered permanent.
- Any non-permanent source of income (i.e. unemployment insurance) will add an additional security deposit of (1) month to an approved applicant.
- If the source of net income is less than two and a half times the monthly rent but equal to or more than two times the monthly rent, this will add an additional security deposit of ½ month to an approved applicant.
- An applicant who does not meet the above requirements shall be subject to rejection.
- ACCEPTABLE PROOFS OF INCOME:
- (3) most recent months’ paycheck stubs with YTD total + (3) months most recent bank statements.
- Proof of current child and/or spousal support payments + (3) months most recent bank statements.
- Proof of current social security income, disability, or other government income + (3) months most recent bank statements.
- Proof of retirement income or trust fund account income + (3-6) months recent bank statements.
- Self-employed must provide the most recent personal and business tax return with a schedule k-1 and (3) most current personal and business bank statements. We will not accept business bank account statements in lieu of personal bank account statements.
- Jobs that are based off tips, cash payments, bonuses or commissions will be considered self-employed.
- Current employment used to meet the income criteria will be verified, including salary amount and start date. Applicant must have been continuously employed a minimum of (6) months directly prior to application date.
- CREDIT REQUIREMENTS:
- Applicants must have a verifiable credit history and report that demonstrates a willingness to pay financial obligations in a timely manner.
- The credit score must be 630 or higher on our credit report to use that applicant's income to qualify. (A credit score of under 630 will disqualify that applicant from using their income to qualify)
- A credit score (FICO) should be no less than 650 for standard approval.
- A credit score of 649-600 may be conditionally considered with an additional (1) month security deposit.
- Credit scores less than 600 will be automatically denied.
- Collections / Charge offs: A report containing any cumulative amount less than $500.00 in collections and or charge offs will require an additional deposit equal to (1/2) of one month’s rent or co-signer. A report containing a cumulative amount more than $500.00 in collections will result in a denial.
- Judgments & Liens: A report containing any cumulative amount less than $500.00 in judgments and liens will require an additional deposit equal to (1/2) of one month’s rent or co-signer. A report containing a cumulative amount more than $500.00 in judgments or liens will result in a denial.
- CRIMINAL HISTORY: If the applicant has committed a crime of a nature that can negatively impact a tenancy at our property, then such an applicant will be rejected due to this criminal history. We do not reject an applicant solely based on arrests, indictments, or complaints that did not result in a conviction. Conviction within the past ten (10) years including, but not limited to the following crimes is reason for rejection: murder, burglary, assault, sexual crimes, manufacture or sale of controlled substances, arson, possession of illegal weapons, or passing bad or forged checks.
- THERE IS A NON-REFUNDABLE APPLICATION FEE: of $33.00 for each applicant ($20 for credit report and $13 for administration fee). Applications will not be accepted until fees are paid by cash, money order, online, or cashier’s check. No Personal Checks Accepted. Please do not apply for any of our rentals unless each potential renter has viewed the interior and exterior of the property. Application fees will not be refunded.
- PET POLICY (If allowed, see ad): If the property you applied to accepts pets, the security deposit shall be increase by $500 per pet, and pet rent in the amount of $25-$50 per pet per month may be applied to your lease agreement.
- PET SCREENING REQUIRED: The 3rd party pet screening application fee is $20 for the first pet and $15 for all additional pets. If you have an animal (including assistance animals) please visit the link Animal Screening (Click Here)
- PROHIBITED PETS: The following breeds are prohibited due to insurance limitations on liability.
Exotic animals, poisonous animals, Chihuahua’s, Pit Bulls and Staffordshire Terriers, Doberman Pinschers, Rottweilers, German Shepherds, Chows, Great Danes, Presa Canarios, Akitas, Alaskan Malamutes, Siberian Huskies, Wolf-hybrids, or any mixed breed containing any portion or characteristic of these breeds.
- ASSISTANCE ANIMALS: Service & Emotional Support Animals are welcomed with proper verifiable documentation. If you have an assistance animal, you will need to go to the 3rd party animal screening website to have their assistance animals verified. Animal Screening (Click Here) . Contact the leasing team for details with any other questions regarding assistance animals.
- RENTERS INSURANCE: (if required) Prior to move-in, you must provide the Declaration Page showing: Minimum of $100,000 liability coverage • Policy equal to or greater than the term of the lease • The property and address added as additional insured (to notify landlord, in case policy is terminated).
- SECURITY DEPOSIT REQUIREMENT: All rent, deposits and fees required for move-in must be paid in full prior to move-in via cashier’s check or money order.
If you rent a house, you must smoke outdoors. If you rent an apartment or condo, there is no smoking on the property--the entire property is smoke free, regardless of the product being smoked: including cigarettes, marijuana, and/or vape.
Authorization to Obtain Credit Report: By signing below you agree to allow Harbor Property Management, Inc., and its agents to obtain a credit report from one or more consumer credit reporting agencies.