What is your rental criteria?

Portfolio Property Management LLC is an equal opportunity housing provider.

The information on your application will be verified objectively to assist in selecting an applicant. Applications are screened on a first come, first serve basis. To be considered for tenancy, we must receive a completed application including all associated applications, photo ID and proof of income. The applications must be legible, without blanks, verifiable, and meet these guidelines. If after a good faith effort, we are unable to verify something on your application, we will go on to the next application. In order to assist you with your decision below is a summary of criteria each applicant must meet.

1.        Applications: Incomplete applications will be declined. Each prospective tenant, aged 18 years or older, must complete an individual application. Any applicant must submit a new application if more than 60-days have passed. The applications must clearly state who will be residing in the unit. Each application must be followed up with an email with a copy of your ID and income verification. Incomplete applications will not be approved. It is the applicant’s responsibility to provide all documentation and proper entry of data.

2.        Income: We require VERIFIABLE monthly household income of at least 3 times what monthly rent will be on the unit being applied for. If unemployed, or a full-time student, self-employed, or retired, applicant must provide other sources of verifiable, regularly scheduled income. Examples of verifiable income include student loans, financial aid, trust funds, I-20, current offer letter for employment/employment verification, copies of last 2 consecutive payroll check stubs with YTD total showing at least 2 months of employment, previous year W-2 or 1099 with copies of last 3 consecutive bank/financial statements demonstrating monthly deposits with those deposits highlighted. Section 8 applicants must submit their housing choice calculation voucher worksheet and request for a tenancy approval form.

3.        Credit: All applications are submitted to a third-party credit services that obtain consumer credit reports from consumer credit reporting agencies, and evaluates credit and rental history against indicators of future rent payment performance, including public records. An unsatisfactory finding may result in the requirement of an additional deposit or denial. If your application is denied or is approved with conditions, Landlord will provide you with the name, address and telephone number of the consumer reporting agency which provided your consumer information.

4.        Criminal Background: A criminal background check will be obtained on each applicant through a third party and used as a part of the qualifying criteria. The check will include reviewing public and criminal records for arrests for criminal behavior and charges pending and have not been dismissed, and convictions less than seven (7) years (for acts presently illegal in this state), including but not limited to: drug-related crimes (excluding convictions solely based on the use or possession of marijuana), a person crime, a sex offense, crime involving financial fraud, or any other crime if the conduct for which the applicant was convicted is of nature that would adversely affect the property of landlord or a tenant, or the health and safety or right to a peaceful enjoyment of neighbors.

5.        Rental History: You must provide 3 years of verifiable rental history. Renting from family is not considered. All applications are submitted to third party for verification including review of public records. Unresolved debt from prior landlord and any previous evictions by landlord resulting in a general judgment against applicant less than five years prior to application will be a basis for denial (unless an exception applies).

6.        Providing false application or failing to provide pertinent information may be cause for denial of your application or termination of tenancy.

7.        Portfolio Property Management LLC will provide for reasonable accommodation to rules, restrictions and services provided. If you feel you need a reasonable accommodation, it is your responsibility to ask for it during the application process. Failing to receive accommodation approval prior to tenancy starting will delay the approval execution of the accommodation. All requests will be verified under the law. Unverifiable accommodation requests will be denied.

8.        If applications do not meet income or rental history requirements, applicants may be required to provide a larger deposit or qualified cosigner. You will be notified of any additional requirement.

9.        Any animal brought into the rental for any amount of time must be approved. Up to 2 (two) pets may be allowed at some properties but must be pre-approved. Some breeds are not allowed by insurance. We charge a $500 additional deposit per pet and $35/month in pet rent per pet. Reasonable accommodation to this policy is available upon request and will be verified before the accommodation is approved. Bringing an unauthorized animal into a rental and failing to request or receive approval for a reasonable accommodation to the pet policy is a lease violation.  

10.  Illegal Production or consumption of any substance regulated or prohibited by Federal Law, is not allowed. (i.e. alcohol production, cannabis production or use, pharmaceuticals etc.) We do not allow marijuana production in any of our properties.

11.   All prospective applicants have the right to dispute the accuracy of any information provided to the landlord by a third-party screening company or credit reporting agency.