1. Everyone over 18 that will live in the house must complete a separate application. All information is verified, and we use TransUnion Credit Bureau's screening checklist. Rentapplication.net charges for the mandatory background checks. The credit check does not affect your FICO score. (A FICO score is not the same as the score you see on sites like Credit Karma, which is a Vantage 3.0 score.) We do not charge application fees. Here's the application http://www.rentapplication.net/historichouse
2. We NEVER RENT sight unseen. If more than one person will live in the house, EVERYONE must physically tour it with one of us PRIOR to anyone in your group submitting an application. Facetime, friends or family are not a substitute for you. We do not rent apartments; we rent historic houses. Real estate theft and fraud are an epidemic in Philadelphia. The Phila Dept of Records has very serious problems regarding the recording of deeds.
3. Complete applications are processed in the order in which they are received. No processing is done until all applications for your family/group have been received and everyone has toured the house with one of us.
4. We lease to ONE tenant. Anyone else is an occupant. ONLY the tenant must meet the income and credit criteria.The tenant is responsible for the house, must live in it full time, meet the income requirement of three times the monthly rent and have a minimum 740** FICO score. We look for a monthly DTI (debt to income) of less than 35% and references as well.
5. INCOME* CANNOT BE COMBINED TO MEET THE 3X REQUIREMENT. (Gross income is used for W2 wages. Self employment it's net schedule C; real estate it's schedule E, etcl, investments it's schedules A and B, etc.)
6. We do not accept cosigners or lease guarantors.
7. Holding deposits are not accepted.
8. The lease must be signed and first, last and security paid within 48 hours of the lease offer.
9. The rent is not negotiable.
10. Everyone living in the house must be (a) named in the lease as an occupant or tenant and (b) have lease-compliant renter's insurance.
For any questions please shoot us an email email@example.com
*school loans are not income **TransUnion states as of April 2019 that 45% of the population has a FICO of 740 or better. Sites like Credit Karma do not provide a FICO score. There are websites with the formula to convert those scores to FICO. Credit Karma's score is a Vantage 3.0.
Thanks for reading the details. To show you are serious about renting please include the code "740 FICO" on your appointment form application code. :-)