Rental Criteria

Eligibility Requirements for Renting a Home

IMPORTANT: If you are applying with a housing voucher, please email the office before applying to verify if the property is or isn't exempt from accepting vouchers. Email: applyseva@renterswarehouse.com

The following Rental Acceptance Criteria and Application Agreement will be signed by all applicants prior to signing a Lease. While some of the information below may not yet be applicable to your situation, there are some provisions that may become applicable prior to signing a Lease. In order to continue with this application, you will need to review the Rental Acceptance Criteria and Application Agreement carefully and acknowledge that you accept its terms.

FAIR HOUSING STATEMENT

Renters Warehouse - SE Virginia is a fair housing provider and does not discriminate against persons on the basis of race, color, religion, national origin, sex, elderliness, source of funds, familial status, sexual orientation, gender identity, or military status.

AUTHORIZATION

I affirm that the information contained in this rental application to lease to be true and correct. I agree that Renters Warehouse - SE Virginia may terminate any agreement entered into (including the lease) in reliance on any misstatement made in this application. I agree and affirm that Renters Warehouse - SE Virginia may question and seek information from all persons and/or firms named by us in this application and contract to lease, and further authorize Renters Warehouse - SE Virginia to acquire my resident score report and criminal background check from any authorized credit agency. I agree that acceptance of this application is conditional upon a resident score check and other verifications that are satisfactory to Renters Warehouse - SE Virginia.

FAILURE TO PERFORM

I agree to enter into a lease for the rental unit upon the terms outlined above. I agree that I have toured or video-toured and previewed and seen the rental unit being applied for and that I am accepting it in “AS IS” condition, unless otherwise noted. If I refuse to enter into the manager's lease (within 24 hours of notification of approval), AND/OR if occupancy is not taken by me (on or before the occupancy date indicated), then Renters Warehouse - SE Virginia may rent or lease the property to another party and all deposits and application fees paid herewith shall be forfeited by the prospective Tenant(s) and retained by Renters Warehouse - SE Virginia as liquidated damages.

DISRUPTIVE OR UNRULY BEHAVIOR

Renters Warehouse - SE Virginia reserves the right to refuse rental to anyone who is currently or has a history of being verbally abusive, disrespectful, or confrontational. Any history of violence or disruptive behavior towards other tenants, staff, or visitors will also result in denial of the application. Finally, any current illegal drug use or evidence of alcohol abuse that manifests conduct that poses a threat to the health or safety of other tenants will be grounds for rejection.

RENTAL PROCESS AND APPLICATION PROCEDURE

I do hereby acknowledge the “Rental Acceptance Criteria and Application Agreement” and that I understand and agree to the terms of the application and rental process. I have read and agreed to all pages of this application package and have submitted them with this application for consideration by Renters Warehouse - SE Virginia.

APPLICATION PROCESSING AND TIME FRAME

If you fully complete the application and provide us with accurate contact information for your current and/or previous landlords, we can usually process your application in 1-2 business days. We pledge to process your application, whenever possible, during the same day that you apply. In some cases, approval of homeowner associations, condo associations, homeowners, or unforeseen circumstances may require some applications to take longer. You will be contacted immediately upon determination of approval or denial. All adult applicants over the age of 18 must submit a fully completed, dated, and signed rental application and application fee. No rental property will be held vacant for more than two (2) weeks unless approved by Renters Warehouse - SE Virginia.

COST

Non-Refundable Application fee (per applicant) – A $60.00 application fee per adult 18 years or older paid online at application process. Approximately $22 of this fee goes to third-party screening companies and $38 to our staff for processing. Incomplete applications will not be processed.

UNDERSTANDING TRADITIONAL CREDIT SCORE VS RESIDENT SCORE

Renters Warehouse - SE Virginia relies on Transunion's Resident Score as its primary credit benchmark. The score Renters Warehouse - SE Virginia uses for your application is Transunion's Resident Score 3.0. Like a traditional credit score (e.g. Fico / Vantage), Resident Score is measured on a scale of 350-850. While traditional credit scores measure capacity to pay back loans and other lines of credit, Resident Score is specifically tailored to rental housing applications. Since Resident Score incorporates resident records, and additional data related specifically to rental payments, it may vary from your Fico or Vantage score. Please note your credit will not be affected by Renters Warehouse - SE Virginia accessing your Resident Score and corresponding information.

THE APPLICATION PROCESS

Upon receipt of your rental application and application fee, you can expect and hereby authorize that we will (1) check your resident score report; (2) check the public records for any past evictions; (3) verify your employment; (4) verify your previous landlord references; and (5) do a criminal background check. If you have bad credit, bad references, have ever been evicted in the past or have within the last 7 years any felonies of illegal manufacture or distribution of a controlled substance, felonies resulting in bodily harm or intentional damage or destruction of property, such as arson, you will either be declined or may be required to post an additional security deposit amount + increased risk mitigation admin fee as a part of your approval. Sexual-related offenses for any time period will be declined.

Once you have been notified of your approval, you must place (at a minimum) a refundable holding deposit (by cashier's check or money order), of not less than one month’s rent within 24 hours of your approval notification. In the event that you fail to enter into the lease agreement or refuse to take possession of the property on or before the applied for beginning rental date, you shall forfeit an amount of these funds for actual expenses and damages. Due to the high demand for rental homes, we will not hold the property you applied for off the rental market for more than 24 hours unless you provide the required holding deposit. If you do not comply with this requirement, we may rent the home you applied for to someone else.

All applicants must see the interior of the property before an application can be submitted. The property must be accepted in, "AS IS" condition before an application can be accepted, except where there is written agreement for maintenance or repair items. If your maintenance and repair request are acceptable to Renters Warehouse - SE Virginia, then that agreement will be written in the lease or lease addendum. Verbal representations are non-binding.

OCCUPANCY REQUIREMENTS

A maximum of two Tenants, and/or one or more authorized Occupant(s) listed on the Lease are permitted to reside in a bedroom, provided that the total number of persons residing in the bedroom complies with applicable building and zoning code requirements. The current Virginia Building Code requires that each bedroom occupied by more than one person shall contain at least 50 square feet of floor area for each person. For purposes of this paragraph, the term “Tenant” shall mean any person age 18 or over who is required to be listed as a Tenant on the Lease and an “Occupant” shall mean any person under age 18 required to be listed on the Lease.

All initial funds, the holding deposit - first month's rent and security deposit must be paid by cashier's check or money order payable to "Renters Warehouse - SE Virginia". Subsequent months thereafter may be paid online per the terms of your lease agreement

MOVE-IN FEE

$150 one-time Lease Admin Fee.
Animal Screening fee (per animal) - Rental applicants with household pets or service/companion/assistive animals are required to submit a per animal application through a third-party screening vendor as part of our rental application process. You must submit the animal screening information online at: https://rwseva.petscreening.com/
Household Pet Profiles Payment options for Pet Owners:

Credit Card: $25 per Pet Profile which is valid for one year.Renew for an additional year for $20 as long as the renewal is proactively completed by you prior to the expiration of the current term. If the household pet profile(s) auto-renews then the charge is $25 for an additional year per pet.
ACH (A cash discount applies with this payment option): $20 pet Pet Profile. Renew for an additional year for $15 as long as the renewal is proactively completed by you prior to the expiration of the current term. If the household pet profile(s) auto-renews then the charge is $20 for an additional year per pet.

Assistance Animal Accommodation Requests: There is no charge ($0) to make an Assistance Animal Accommodation Request.
No Pet / Animal Profiles: There is no charge ($0) to make or renew a No Pet / Animal Profile.
Please note that due to insurance regulations, or other reasons guard dog breeds may not be accepted. You can do a web search for “guard dog breeds” for a list of breeds considered to be in this category. We strongly recommend that you inquire and obtain pet approval prior to submitting an application since the application fees are non-refundable.
Pet Policy:

We charge a one-time, non-refundable pet fee per pet of $250. This fee is due with move-in funds.
We charge a monthly Pet Administrative Fee of $25 - $45 per pet based solely on the Risk Score assessed through Petscreening.com. These fees are due monthly with rent and are not refundable. Monthly Pet Administrative Fees are determined as follows: 5 paw is $25 4 paw is $30 3 paw is $35 2 paw is $40 1 paw is $45.
Completed application package along with all fees must be submitted to the manager of the property in which you are applying. You must also ensure that you complete the Pet Screening and notify your manager that you have done so as they may not know to look for it unless you tell them!

NO SMOKING/VAPING

Smoking of any kind is NOT permitted inside the home, garage or any structure on the property.

TENANT SELECTION CRITERIA

To qualify for the advertised security deposit amount you must meet the following criteria. If your resident score, residence history or income does not meet our criteria for the lowest security deposit amount, you may still be approved but at a higher security deposit amount + increased risk mitigation admin fee:

Applicants must have a combined net monthly income from all sources of at least 3 times the amount of monthly rent (i.e.: $1,000 monthly rent x 3 = $3,000 monthly income) to be approved. When calculating this using DPOR guidance on “source of funds” income for participants in a housing choice voucher program or similar programs, we will subtract the amount of the voucher from the total rent and then use only the applicants portion of rent when applying funds to rent ratio. Income must be verifiable and provided in a form acceptable to Renters Warehouse that may include pay stubs, verification of income letter (on company letterhead), a letter of benefit assignments or tax statements of the applicant. If Military, provide a copy of your orders and a current LES. If self-employed, include the last 2 years tax returns. Rental history must be rated satisfactory or better, with no record of evictions. We reserve the right to require a cosigner, higher security deposit amount + increased risk mitigation admin fee.

Resident score history and/or Civil Court Records must not contain landlord judgments, utility judgments, eviction filings, landlord collections, or liens. We will not provide you with the resident score report or tell you of its contents; however, we will provide you with the name of the credit reporting agency so you may receive a copy from the credit bureau. All information collected for the approval or denial of this application is considered confidential in nature and for company use only.

Self-employed applicants may be required to produce upon request two (2) years of signed tax returns or IRS 1099 forms. Non-employed applicants must provide proof of income.

Valid current US issued photo ID documentation (driver's license, military ID, or State ID) is required.

Previous rental history reports from previous landlords must reflect timely payment, sufficient notice of intent to vacate, no complaints regarding noise, disturbances or illegal activities, no NSF checks, and no damage to rental property or failure to leave the property clean and without damage when you left the property. 36 months of Housing History required.

CONTINGENT APPROVAL FEES

RESIDENT SCORE BASED RISK MITIGATION FEE: All lease transactions involve risk. To mitigate this risk for both landlord and tenant, Renters Warehouse - SE Virginia routinely videos the condition of properties before and after each tenancy, ending most security deposit claim disputes before they begin. Offering an approval based upon total resident score below 650 comes with even more inherent risk to the landlord and property manager, however an approval may be offered even to tenants with less than ideal credit as long as they can pay the additional fee associated with their credit/resident scores to offset the risk involved. In addition, a Risk Mitigation Fee may be applicable due to other risk factors as contemplated by the property manager when considering the totality of the application and wholly at the property managers discretion.

Risk Mitigation Admin Fees for Applicants: Lowest Resident Score ....Fee Due 620 – 650..........................................$200 600 – 619..........................................$350 550 – 599..........................................$500

A MINIMUM COMBINED RESIDENT SCORE OF 600 IS REQUIRED FOR APPROVAL WITHOUT A COSIGNER.

Multiple Applicants

A risk mitigation fee will be assessed based on the LOWEST Resident score of all adults No Resident Score: Applicants who do not have a Resident score may be assigned a score of 550 for the purposes of determining their risk mitigation fee

If Cosigner is required, the Risk Mitigation Admin Fee will be $500 regardless of score. All co-signers should reside in Virginia and be approved as above. Co-signers should have verifiable income no less than 5x rent or verifiable liquid assets no less than 3x annual rent. Co-signers MAY be accepted on a case by case basis to offset resident score or income but do not offset evictions, lease or utility collections. Cosigner understands and agrees to be on the lease, sign the lease, and be responsible for all terms contemplated in the lease as a condition of approval

TENANT BENEFIT PACKAGE

$45.00/Per Month for 2 Tenants. Add $5.00 per month for each additional Tenant. Included with ALL lease agreements under Renters Warehouse - SE Virginia is the Tenant Benefit Package. This package includes the following:

Tenants Legal Liability Insurance Master Policy with Contents Coverage: The Tenant Benefits Package waives your obligation to the Tenant Legal Liability Insurance requirement in your Lease Agreement through enrollment in our Master Policy. Tenants should consult an insurance professional to evaluate and determine personal insurance needs. Coverage limits are as follows: Liability Limits - $100,000.00 Tenant Personal Contents - $10,000.00 ($500.00 deductible) Other coverages may be included and a deductible may apply; see policy for details. The deductible is applicable only for the tenants claims such as Personal Content Coverage.
Online Tenant Portal for Maintenance, Payment Options, and Electronic Statements. Benefit: Tenants have free access to our Tenant Portal to submit maintenance requests, pay online using all included payment options to include the automatic ACH option, and have access to electronic statements.
Credit Reporting: Help build your credit through automated rental payment history reporting to the Credit Bureaus on a monthly basis during the term of your Lease through our affiliate RentCred. Improve your credit score quickly Increase your buying power Lower interest rates Portable Rental History While using RentCred when you meet your rent payment obligations, your information will be reported to the Credit Bureaus and will help you in building a positive credit history. If you do not meet your rental payment obligations, as per your lease agreement, the late or unfavorable fact will be reported to CredHub and thereafter to the Credit Bureaus. This will also impact your credit and can affect your credit score.
24/7 Maintenance Hotline with Live Phone Support. Benefit: Tenants can reach a live person after hours for emergency maintenance concerns
One Time Returned Payment Fee (NSF) Forgiveness. ($50.00) Benefit: Renters Warehouse - SE Virginia will grant a one-time waiver of a returned ACH or payment fee
HVAC Preventative Maintenance Program Benefit: Custom A/C filters delivered to your door approximately every two months.
Tenant Exchange Program Benefit: Under limited circumstances, Tenant may be permitted to terminate this Lease without penalty upon fulfillment of certain conditions outlined in the Lease.
Home Buying Assistance: Benefit: If you decide to purchase a home after renting with us, we will assist you in search and negotiation of terms on your new home with professional Buyers Agent representation as well as a closing credit as allowed by the Lender. This is up to a $1000.00 value!

Residents may not opt-out of the Resident Benefit Package

OTHERS

Security deposits are security for faithful performance by tenants of all terms, covenants and conditions of the lease agreement and tenants may not dictate that the security deposit be used for any rent due. Unless claimed due to a breach of lease of damages, the security deposit is refundable when the tenants move out of the property at the expiration of the lease term.

Media Release: We routinely photograph and videotape the condition of our managed properties before and after each tenancy, as well as market our property and business with video tours, testimonials and etc... Applicant understands and agrees our company can use these videos, photos and client records for any legal purpose, and accepts any risk or consequence from these items being used in the course of business.
Leasing Consultants: Renters Warehouse - SE Virginia provides leasing consultants to grant you access to preview our properties, to distribute rental information, applications, rental process and application disclosures and contracts to lease our properties. The leasing consultant is not authorized to negotiate on behalf of Renters Warehouse - SE Virginia. Verbal representations are non-binding. Once your application is submitted to Renters Warehouse - SE Virginia, the approval/denial and negotiation process (if any) will be handled by the property manager in charge of the property for which you are applying.
Adding or Removing Tenants: Any requests to add or remove a Tenant from the Lease during the term of the Lease must be approved in advance by Renters Warehouse, and an amendment to the Lease reflecting any such changes must be executed by all parties to the Lease. Any changes to the tenancy would require the remaining Tenants to re-submit a new application, complete the application process, and be approved under these Criteria.

This "Rental Process and Application Disclosure" is hereby made an integral part of my/our rental application. I hereby acknowledge that I/we understand and agree to the terms of application and rental process as described herein. I further acknowledge that I have seen and previewed the rental property (both inside and outside) for which we are applying.

All applications are processed by Findigs through Transunion. Please direct all inquiries regarding your file to the following address: Findigs 636 Broadway Suite 1200 New York, NY, 10012
Contact: Support@findigs.com

Transunion Phone: 1 (800) 916-8800 Mail: P.O. Box 2000, Chester, PA 19016-2000
Site: transunion.com/customer-support

Signature. Our receipt of this application is consent only to this Application Agreement. It does not bind us to accept an applicant or to sign the proposed Lease.

Thank you for applying to Renters Warehouse - SE Virginia!