All applicants will be charged a $70.00 application fee per adult (18 or older) & is NONREFUNDABLE.
Multiple Applications May Be Reviewed in Choosing an Applicant
Each adult over 18 is required complete a separate application form. It would be in your best interest to confirm that your rental requirements are not outside of our Resident criteria with multiple adult roommates, eviction history, foreclosures, bankruptcies, job loss, minimal income, low credit scores, unusual pets, large pets, multiple pets, multiple families, or anything that would cause your application to be rejected.
Wanting to offer less than list price for the home will cause your application to be delayed or rejected.
This application, background information, credit scores, rental history, criminal history, and employment verification may be viewed by the Property Owner.
Lease Criteria in Applying for a Home
Before you apply for a home, read the following information concerning the approval process. If you have any questions, contact the Property Manager during normal business hours Monday
to Friday 9 AM to 5 PM Central Standard Time.
Application Approval
All approved applicants will receive further instructions via email.
Lease Agreement with Security Deposit, Cleaning Deposit, and Pet Deposits: At approval, the advertised deposit amounts will be required within 48 hours via electronic funds.
Start of Lease
Vacant Homes – Homeowner/Landlord has a policy that all leases on vacant homes must begin within 10 calendar days of application approval. Homeowner/Landlord is unable to hold the home rent free without a lease agreement longer than that time.
Occupied Homes – Homeowner/Landlord will typically advertise a first available date with all of the homes we manage. In some cases, those dates will need to change due to circumstances beyond our control. Homeowner/Landlord ask the approved incoming tenant to be flexible in some cases. Homeowner/Landlord understand the burden this can create and strive to advertise a solid date so incoming tenants can plan accordingly.
Six (6) Month Lease Agreement Option = Rent + 15%
Should an applicant request a 6-month initial lease agreement, Landlord charges an additional 15% on top of the advertised rental rate. REQUIRES OWNER APPROVAL.
Ex: Advertised Rent = $1,500 Per Month. Add in 15% for 6 Month Lease Option = $225 Per Month. Total Monthly Rent for 6 Month Lease Option = $1,775
Errors & Omissions
Every effort has been made to provide applicants with reliable and accurate information regarding the home you are applying for – however, changes can and do take place to cause inaccurate information to be accidentally presented. NEC Property Management encourages all Residents to verify schools, allowable pets, expected features, or any HOA concerns prior to signing a lease agreement. Any information posted in the MLS advertisement does NOT
constitute a written agreement or guarantee of the facts stated.
Identification
Each applicant is required to provide a copy of a legible Government issued photo identification card. A photo of your identification card can be sent to:
Christopher@NECPM.com
Notice to all Applicants
NO SMOKING is permitted inside the home or garage.
Disabled Accessibility
Any concerns should be submitted in writing to the property manager. We must obtain Owner approval to allow modification of the premises. All modifications are at the expense of the disabled person, and the disabled person must agree to restore the premises, at their own expense to the remodified condition (provided the modification would affect the use and enjoyment of the premises for future residents). We require written proposals detailing the
extent of the work to be done, approval from the landlord before modifications are made, appropriate building permits with required licenses made available for the landlord’s inspection, and a restoration deposit may be required per Fair Housing guidelines.
School Boundaries
School Enrollment concerns should be investigated prior to submitting your application. Applicants must verify their own school information with the school district. Because of the expansive growth in this region, school enrollments get capped and designation boundaries may change. We highly recommend you contact the local school district should any of the school boundaries be a concern for the home you would like to rent.
IT IS THE DUTY OF THE APPLICANT TO VERIFY SCHOOL BOUNDARIES
Application Process & Screening Criteria
NEC Property Management is committed to equal housing and we fully comply with the Federal Fair Housing Act (FFHA). We do not discriminate against persons because of race, color, religion, sex, handicap, familial status, national origin, or age. NEC Property Management also complies with all state and local fair housing laws. We offer application forms to everyone who requests one. Approval is based on SEVEN factors:
- Credit History
- Income Verification
- Criminal Background Check
- Terrorist Database Search
- Employment Verification and History
- Rental Verification and History
- Animal Screening Criteria
Credit History
NEC Property Management will obtain a copy of your credit score/report from TransUnion, Equifax or Experian. You cannot provide this to NEC Property Management. Credit history should show that the resident has paid bills on time and does not have a history of debt “writeoffs,” accounts that have gone into collection, judgements or suits.
Employment Verification & History
NEC Property Management requires verifiable employment history for at least the past three (2) years. You must be a permanent employee (not temporary or probationary). If you are selfemployed, retired, or not employed, we can accept such documents as signed tax returns (2 years minimum), bank statements, etc. that provide proof of applicant’s ability to pay the rent. If military, we need a current copy of your LES. If you are active-duty military, you must be on an assignment that, to the best of your knowledge, will allow you to complete an initial 12-month lease.
Income Verification
Income should be at least three (2.5) times the monthly rent and verifiable from an unbiased source: employer through pay stubs, tax returns, and/or bank statements. Self-employed income may also be verified with a CPA-prepared financial statement, tax returns, 1099s, and Bank Statements. (You may be required to submit all or some of those verification documents.) Your employment history should reflect at least 6 months with your current employer. Transfers or relocations must have correspondence showing an accepted job offer. Any verification fees required by the employer must be paid by applicant. Applicants who do not meet the above employment or income requirements may submit savings account(s) statements showing a minimum average balance equal to 2.5 months of rental payments, for the last 6 months.
*Applicants with Less than 2.5X the Monthly Rent as Monthly Gross Income OR Savings Account statements showing a minimum average balance less than 2.5 months of the Monthly Rent Amount, for the last 6 months may be Subject to Additional Security Deposits and/or Increased Rent and/or other proposed terms, as outlined below
Option 1: Monthly Rental Rate Increase of 5% of the Monthly Rent for the entire Lease Term.
Option 2: Additional Refundable Security Deposit Equal to 1 Months’ Rent
Option 3: Lease Guarantor: A lease guarantor may be used under the following conditions:
- Your monthly verifiable income is less than 3 X’s the amount of the monthly rent.
- You have a familial relationship with the guarantor such as parent or relative.
- The guarantor lives within the United States and has a social security number.
- The guarantor meets our credit and criminal history requirements.
- The guarantor has verifiable monthly income which equals 4X’s the amount of the rent.
You may not use a Lease Guarantor if:
- You are declined because of unacceptable credit history.
- You are declined because of unacceptable rental history.
- Guarantor has landlord debts, evictions, rental judgements, or foreclosures paid or unpaid.
*Monthly Rent Increase Charges are NON-REFUNDABLE. Additional Security Deposits are paid up front and prior to lease agreement execution in full and are REFUNDABLE. Income Required Additional Security Deposits become NON-REFUNDABLE with 3 or more Late Payments during any one Lease Term.
Rental Verification & History
NEC Property Management require verifiable residence history for at least two (2) years whether you currently own or rent. Applicants are responsible for providing information including the names, addresses and phone numbers, of Landlords with the dates of tenancy for the previous two (2) years. Rental history must be verified from unbiased sources. Home ownership will be verified from a current credit report. We can accept base housing as rental history.
- Any evictions within the previous 5 years will be automatic grounds for denial.
- Broken leases will be considered on a case-by-case basis with a conditional screening process that may require, but are not limited to, additional security deposits, risk mitigation fees, and/or rental increases.
- Broken leases within the last 12mo preceding application will be grounds for denial. Letter of Explanations will be REQUIRED.
- Broken leases older than 12mo will require Letters of Recommendation from preceding 2 years of Rental History and submitted with the initial application. Letter of Explanations will be REQUIRED.
Applicants with Less than 2.5X the Monthly Rent as Monthly Gross Income OR Savings
Criminal, Sex Offense, and Terrorist Database Check
NEC Property Management will check these databases for all occupants over 18. We do not rent to any person required to register as a sex offender. Criminal backgrounds involving violent crimes, sex offenses, domestic violence and/or involving the possession/distribution of weapons or illegal substances are all grounds for denial of an application. NEC Property Management DOES NOT rent homes to registered sex offenders.
Sex Offenders: Applicants should satisfy their concerns regarding crime statistics or the presence of any sex offenders in the area, before submitting an application. This information is available free of charge on the internet at the below sites.
Sex Offenders: www.txdps.state.tx.us
Houston Crime Stats: http://www.neighborhoodscout.com/tx/houston/crime
Reasons for POSSIBLE Denial of Applications that CAN be subject to a Lease Protection Fee(s) and/or Increased Rent and/or other proposed terms
- If you failed to give proper notice when vacating a property.
- If previous landlord(s) would be unwilling to rent to you again for reasons pertaining to your behavior or that of any family member, guest (welcome or not), or any animal on the property during your tenancy.
- If you have had three (3) or more late payments of rent within the last 12 months.
- Filed for Bankruptcy within the previous three (3). However, a bankruptcy followed by good credit established after filing, indicates an attempt to rectify past credit problems and may be considered acceptable if the bankruptcy occurred over three (3) years ago.
- If an unlawful detainer action or eviction has occurred within the past five (5) years.
- If you have recently received a 3-day notice to vacate.
- If you have had three (3) or more NSF checks within the last 12 months.
- If you have allowed any person(s), not on the lease, to reside on the premises.
- If we are unable to verify your information, we must deny the application. This includes but is not limited to: Rental History, Income Verification, Employment Verifications, and Credit Screening.
- If you violate any of our terms of service during this application process.
- Applicant requests re-wording or removing any paragraphs in the Lease Agreement.
- Credit reports indicating installments payments in excess of 50% of gross monthly income.
- Five(5) or more unpaid active collections or past due accounts (Excluding Medical and Education)
- Five (5) or more charge offs in the previous six months, Seven (7) or more charge offs in the previous 12 months and Ten (10) or more charge offs in the previous 24 months.
- Any applicants with court Judgments. Collections and Judgments can be paid, marked paid or satisfied but will not be removed from the credit report for 7 years. If collections and judgments have been paid to Zero (0) and all other credit is satisfactory, NEC Property Management may approve.
Letters of Recommendations, Letters of Explanations, Proof of Hardships
- Mitigating factors regarding an applicant’s credit report, such as disputes with creditors, will be considered by NEC Property Management upon submission of objective written evidence, as long as the evidence presented, in the sole opinion of NEC Property Management, represents reliable evidence beyond the applicant’s control. It is not the responsibility of NEC Property Management to discover, research or verify that there are possible mitigating factors. The burden of proof to present mitigating factors rests entirely with the applicant.
- NEC Property Management understands life happens and certain things are unavoidable. We take pride in each one of our applicants and try to provide as many options as we can to understand past hardships when making an overall decision. This is why we accept Letters of Explanations and Proof of Hardships when there are a series of misfortunes that effect someone credit that can be logically explained as a unique case. These must be typed, signed and a PDF copy emailed to be considered.
REASONS FOR AUTOMATIC DENIAL OF APPLICATIONS
- If you have had five (5) or more late payments of rent within the last 12 months.
- Actively engaged in a bankruptcy or eviction proceedings
- If you have any unpaid collection filed against you by a Property Management Company/Landlord or Homeowner within the previous 24 months.
- If you have less than a 600 combined applicant credit score and refuse to abide by the additional Risk Mitigation guidelines outlined above.
- If you have had four (4) or more NSF checks within the last 12 months.
- No Businesses operated from property. If you have a home-based Business that you think we might approve please let NEC Property Management know.
- Ten (10) or more unpaid active collections or past due accounts (Excluding Medical and Education)
- Ten (6) or more charge offs in the previous six months, Eight (8) or more charge offs in the previous 12 months and Ten (11) or more charge offs in the previous 24 months.
What Residents Want to Know
- NEC Property Management conducts periodic quarterly and annual inspections of the home you will live in. Homeowner/Landlord take pictures of the interior and exterior of the home during that inspection. This information is kept on record and shared with the owner. If this standard quarterly/annual inspection procedure is going to cause you a problem – we recommend you stop now and do not apply for one of our homes.
- During the last 30 days of your lease agreement – a sign and lockbox may be placed on the home and you may be required to show the home to prospective new tenants. You may opt out of this arrangement, but it will cost an additional fee of one month’s rent to do so.
- NEC Property Management has a ZERO TOLERANCE policy regarding rent collection. Rent is due the 1st of each month, late the 5th of each month. Late fees begin at 12am on the 5th of the month. Late fees will be applied with no exceptions.
- Site Un-Seen Application and Approval. It is possible to apply for the home, be approved, and sign a lease agreement without ever seeing one of our homes in person. In such a scenario, NEC Property Management requires an incoming approved tenant to sign a Site Un-Seen Addendum to the Lease Agreement. In that form, NEC Property Management may ask you name a “Trusted Advisor” outside of the NEC Property Management who has offered you their opinion of the condition of the home.
Upon completion of your Application, you will be notified in writing of your Approval / Denial / or Offer of Other Terms within 2-5 Business Days.