Rental Qualifications

Thank you for choosing Wilson Property Management to help you with your move.  Listed below are the qualifying criteria which must be met when approving an application for residency. All persons 18 years old or older will need to fill out a separate application to reside on the property in which you are applying. Please understand that the following is our current qualifying standards. These requirements should not serve as a guarantee by our company that all other residents and occupants who currently reside at our properties have met these same requirements. This can be due to residents that occupy the property prior to these standards being in effect or prior to our management. Credit and Criminal background checks are electronically processed by our Nationwide screening partner. 

Please Note: We often receive multiple applications for the same property. All rental properties listed on our website are currently available although other applications might have been submitted by other prospects prior to your application submission and are actively being processed. Due to our contractual obligation to the owner, the property must stay listed until there is a signed lease here in the office. It is possible that you could apply for a specific property and while your application is being processed another applicant that submitted their application prior to your submission could be approved and sign a lease, changing the status of the property to unavailable. If this happens you will have 30 days to transfer your application to another available property.

Identification Requirement: A copy of a valid government issued photo ID must be submitted prior to applications being processed. 

Income Requirement: Total monthly household gross income (before taxes) must be at least three times the amount of the monthly market rental rate. Listed below are accepted forms of proof of income.

• Professional: Two of the most recent and consecutive pay stubs for the last 4 weeks prior to the application date or Letter of Hire: Must be on company letter head, state name and contact of Supervisor, state the rate of pay, and terms of employment to start employment within 30 days of move in.
• Students: If qualifying with financial aid or scholarship, current documentation is required specifying an amount of at least 3 times the total monthly rent. Students may also provide a notarized WPM parental guarantee form as their source of income. Parental Guarantee: Only fulltime students may apply with a parental guarantee. Parental guarantee form must be completed and notarized. This form must be accompanied by a copy of the guarantor's valid government issued ID and 2 of the most recent and consecutive paystubs for the last 4 weeks prior to the application date. Income requirement for guarantor is 5 times the rent before tax monthly.
• Self-Employed:
  Applicants may provide their most recent year’s tax return and up to six (6) months of bank statements, or the last two (2) years of tax returns to verify income. Management reserves the right to request additional financial information or documentation as needed to confirm income stability and qualification.
• Retired: Retired applicants may provide proof of income through Social Security statements, pension statements, retirement account distributions, or other verifiable sources. Management reserves the right to request additional documentation as needed to confirm income stability and qualification.
• Other Forms of Income: If applicant receives any forms of income other than from a current employer, proof of this income must be submitted if needed to qualify. You must provide official up to date documentation that includes, the amount of payment and frequency of payments from the administration that allocates the payment on letter head and notarized. Child support verification can be proved with current court ordered documentation.

Rental/Mortgage History:  Rental and mortgage history will be reviewed for all applicants. Approval criteria are as follows:

• Credit Score 600+ Applicants: No more than one (1) filing (late payment, eviction filing, or similar) in the past 12 months.
• All Applicants: No more than three (3) late payments past the 15th of the month in the past 12 months.
• Balance Owed: Applicants must have no outstanding balances with prior landlords or mortgage lenders.
• Proper Notice: Applicants must have provided proper notice to previous landlords or management at the end of prior leases.

Additional Deposit: In the event there is no verifiable rental history, management may require an additional security deposit.

Credit History: A credit report will be obtained for all applicants to verify credit history. Approvals and required security deposits are determined based on the following credit score ranges and criteria:

• No Credit: Standard approval with a regular security deposit.
• 600 and Above: Standard approval with a security deposit equal to one (1) month’s rent.
• 550–599: Conditional approval with a security deposit equal to one and a half (1.5) month’s rent. No eviction filings and all other qualifying standards must be met.
• 500–549: Conditional approval with a security deposit equal to two (2) months’ rent. No eviction filings and all other qualifying standards must be met.

Criminal History: A criminal background report will be acquired for all applicants. Some states may require a higher fee for this search. The fee will be passed on to the applicant if required. Any negative criminal history could be grounds for denial of an application.

Insurance Policy: Our company and community policies do not cover damage by fire, water, or any other cause to a resident's property located in the apartment or anywhere on the property. It is mandatory that EACH RESIDENT, obtains a Liability Insurance Policy with a $100,000 minimum. The policy must be effective the day the keys are released to the resident. It is each resident's responsibility to carry a policy that will cover personal property if desired in addition to this policy.

Parental Guarantee: I/We, the undersigned, do hereby guarantee to Wilson Property Management (WPM) full and timely payment of monthly rent, other incurred charges and all charges due to loss, breakage or damage to the property and for any cleaning required at the end of ANY tenancy entered into with WPM by the above applicant. The undersigned also expressly guarantees the full and timely payment of any and all expenses or losses incurred by WPM due to breach of the lease agreement by above applicant and/or any legal expenses incurred by WPM as a result of a summary ejectment action, including all reasonable attorney's fees. I further agree to pay any sum required within ten (10) days of receipt of a WPM invoice, as well as reasonable attorney's fees and court costs required for collection of such sums. I certify that I am the parent and/or legal guardian of such of the above applicant. I understand and agree that WPM will and may verify all references, including credit, for the purposes of the approval of the applicant's application. AS GUARANTOR, THE UNDERSIGNED EXPRESSLY AGREES THAT UPON APPROVAL OF THE APPLICANT'S APPLICATION, THAT THIS GUARANTEE IS BINDING AND ENFORCEABLE, AND THE UNDERSIGNED ALSO EXPRESSLY UNDERSTANDS AND AGREES THAT THIS GUARANTEE IS TRANSFERABLE TO EACH AND EVERY FUTURE APPLICATION MADE BY THE ABOVE APPLICANT WITH WPM, AND THAT SUCH TRANSFERABILITY SHALL BE WITHIN THE SOLE POWER AND DISCRETION OF WPM AND NO OTHER. The undersigned may not cancel this agreement to avoid liability for any current or past tenant of applicant. However, the undersigned expressly acknowledges that future liability may be avoided for future tenancies if the undersigned provides WPM written notice no less than ninety (90) days before either (I) the applicant's original lease is renewed OR 2) before the start of a new tenancy by the applicant at another WPM managed property. THE UNDERSIGNED EXPRESSLY ACKNOWLEDGES AND AGREES THAT THE DUTY TO INFORM THEM OF THE RENEWAL OF A LEASE OR OF A NEW APPLICATION FOR A NEW TENANCY WITH WPM AT A DIFFERENT ADDRESS IS THE SOLE RESPONSIBILITY OF THE ABOVE APPLICANT AND THE UNDERSIGNED EXPRESSLY RELEASES WPM OF ANY SUCH DUTY, WHETHER EXPRESSED OR IMPLIED.

By electronic submission of my rental application, applicant certifies that all statements are true and authorizes Wilson Property Management to verify all information, including credit report agencies and public records. Applicant will pay non-refundable application fee. We perform criminal background checks. Upon approval of the application, it is understood that all prospective residents must sign the lease and pay the security deposit within 48 hours to hold the property off the market and secure a move-in date. Security deposits will not be accepted unless in certified funds (cashier check or money order). Even though a background check is completed on all applicants, this does not imply security.