Rental Application

We will need the following information in order to process your application:

  • A completed and signed application
  • Signed Resident Selection Criteria Form
  • A copy of each applicant’s Driver’s License
  • 2 current paycheck stubs, bank statement with payroll direct deposits marked clearly, letter of employment OR top portion of employment verification form filled out
  • The top portion of the resident verification must be filled out. If you own a home we will verify your payment history through the credit screening
  • Application fees, administrative fees and a security deposit must be paid in order to reserve your new home. All other fees will be required at lease signing or by move-in date.

Once your application is approved by management, you will need to complete the following:

  • Switch all utilities into your name effective the date of move-in
  • Provide all utility account numbers to the office
  • Renters insurance verification must be turned into the office with a copy of declaration sheet attached
  • Schedule lease signing time and date with your agent. Lease signing hours are scheduled during normal business hours
  • A move-in inspection and checklist will be completed with a member of management on the scheduled lease signing date

Thank You,
Your Management Team at Richardson Free Realty, Inc.

Resident Selection Criteria

Management will not discriminate on the basis of race, religion, ethnicity, national origin, sex, age, familial status, physical or mental characteristics in any phase of the application qualification process. All applicants must be 18 years of age or older.

All applicants will be screened through a 3rd party resource (based on company standards set as similarly outlined below) to establish credit worthiness without bias. In addition a criminal background check will be completed.

  1. Employment
    1. A prospect must have verifiable current employment and six (6) months employment history or a verifiable source of income. Verifiable sources of income include: Last two current payment stubs, offer letter, student loan housing funding, bank statement or equivalent.
  2. Income
    1. Gross income per month must be (2 1/2) times the amount of the rent.
    2. Exceptions to income requirements allowing the consideration of a co-signer or additional security deposit include:
      1. Applicant has excellent credit but falls short of income guideline by no more than $2,000 per year.
      2. Applicant is a student.
      3. Applicant has a slow payment history.
      4. Applicant has no credit history.
    3. Co-signer or additional deposit will not be considered for anyone in arrears for an apartment or other housing debt due to eviction or foreclosure.
    4. The co-signer must complete an application, pay the application fee, and meet all criteria income and must sign all required paperwork before resident moves in.
    5. If the prospective resident does not have a co-signer, an additional deposit will be required.
  3. Resident Verification
    1. Last two (2) years of Landlord/ownership history must be verifiable.
    2. Applicant must have good verifiable rental history and be in good standing.
    3. Applicant cannot have any outstanding collections or judgements from residency sources.
  4. If not Rental History / Credit History
    1. Must have at least three (3) sources of verifiable current credit with below requirements:
      1. At least 65% of credit must be a one (1) or two (2) rating.
      2. If applicant has filed bankruptcy, bankruptcy must have been discharged for at least 1 year. New credit must be established in order to qualify with conditions.
      3. All medical collections and trade lines will be disregarded.
      4. All collections must be paid in full.
      5. All judgments must have been paid in full for at least 3 months. An exception will be made for judgments which have been set up on a payment plan and are being paid as agreed. Verification of these plans must be obtained from the creditor.
  5. No criminal felony history
  6. Fee and Deposit Requirements
    1. A security deposit must be received in full to hold a property off of the market. If applicant is not approved and has prepaid the security deposit,a  check for the amount of deposit will be mailed to applicant within thirty (30) days, from the time of receipt of deposit.
    2. Application and Administrative Feeds are collected at time of application.
  7. Occupancy Standards (Maximum number of occupants per property)
    1. 1 Bedroom / 1 Bathroom: 2 people
    2. 2 Bedroom / 2 Bathroom: 4 people
    3. 3 Bedroom / 2 Bathroom: 6 people
    4. Any existing resident, who would like to add a person to the lease agreement, requires that the person meet all eligibility requirements.

Misrepresentation on the application or failure to disclose requested information on the application will result in disqualification for residency. Applicants understand that by signing the Resident Selection Criteria, the application fee paid prior to running the Rental Application is non-refundable.