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Property Management

EXIT By The Bay Realty

Property Management Division

222 Merrimac Ct

Prince Frederick, MD 20678

 Ofc: 443-975-7555

 Fax: 443-295-2348

 

 

Property Address Date

Guidelines and Policy for Rental Application(s)

Exit By The Bay Realty, thanks you in advance for your interest in submitting a rental application for one of our properties.

We realize that your housing needs are very important and that time is of the essence. We are prepared to expedite the process once all required data is received. Please assist us with the following:

Please read attached guidelines, complete the entire application and be sure that all applicants have signed or initialed the application where applicable.

All processing fee(s) will be in money order or certified funds made payable to Exit 1 Stop Realty and delivered to the designated office before any processing will begin.

Processing fees are $35.00 for a single applicant, $45.00 for married couple. This fee is non-refundable and is the only fee that should accompany the application.

Once applicant is approved, applicant(s) will have 7 days to complete the lease and submit the security deposit, which will be in certified funds or money order, payable to the landlord.

Prior to the day the lease starts the applicant will bring in the first months rent in certified funds or money order payable to EXIT By The Bay Realty, at that time the Tenant will receive the keys to the property.

Agents: Please be sure to include a business card in order for you to be compensated.

To help us verify your employment quickly, please submit your most recent pay stubs or your tax forms or w-2’s for the past year with your application.

The most common reasons for an application to be denied:

Incomplete application

Processing fee(s) not included with application

No Social Security Number/ Incorrect Social Security Number

Credit: Tax liens, etc.,

Multiple Applications: All applications will be processed as they are received and the most qualified (if any) will be taken to owner for there decision. We do not give preferential treatment to any application submitted first. All application will be reviewed on the same criteria.

GUIDELINES

 

*Anyone occupying the property 18 and over must submit an application with processing fee and be on the lease.

Credit:

A credit report will be run on all applicants.

Lack of credit is not an automatic reason for denial.

Applicants with medical collections are not a reason for denial.

Applicants with recent judgments/collections will be looked at to see if there’s a past history with the applicant regarding this before denial.

Applicants with tax liens unsatisfied will be denied.

Applicant’s credit score under 475 will be denied.

Applicants with history of dishonored checks on credit report will be required to give cash or certified funds when paying rent.

The credit report will not be given to landlord or applicant by law. If applicant wishes a copy of their credit report they can contact the credit bureau and obtain a free copy.

Criminal:

Criminal checks are processed on all applicants.

If an applicant has a criminal charge or a felony charge they will be denied if the charge was in the last 10 years and is more than 1 charge for same offense.

If applicant has shown disregard for previous landlord or Applicant has an eviction/destruction of property history, applicant will be denied.

Income:

Must be verifiable with pay stubs or W-2. If self employed applicant(s) must submit schedule C for the recent tax return. If a co-signer is needed the co-signer must own property in the state where the rental is located. Also co-signer must complete the application with processing fee and income will be verified.

Job History:

Applicant must show stability of employment for the past 3 years.

Landlord references:

Applicant must have good references from current landlord. This includes paying rent on time, leaving property in good condition, giving notice, and no criminal activity on property.

Not having current landlord information on application or not being able to contact current landlord might cause application to be denied.

Other:

An applicant can be told they are denied for any of the above reasons.

An applicant can be requested to place a double security deposit because there was something that came up with credit or employment. With a double security deposit it would assure that the owner would be compensated if there was a problem forcing loss of income after applicant moves in.

If an applicant lies on application it’s an automatic denial.

If all the guidelines are met your application should be processed in 48 hours.

Thank you once again for your interest in renting a property with the assistance of

EXIT By The Bay Realty

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