Rental Requirements - Coloma Property Services

Rental Requirements
-Your income must be enough that rent will be 40% or less of your take-home pay.
-You cannot have had more than 2 accounts, 30 days late, within the past 12 months, and your credit score must be at least 600. -- -You cannot have been evicted within the last 10 years.
-You must have good references from previous landlords.
-Your criminal background, if any, will be taken into consideration.
We are working with the city, neighborhoods, and other landlords in this area to maintain the quality of the neighborhood. Therefore, we use screening procedures to evaluate each prospective tenant before we sign a lease. These procedures are listed below. Review our criteria, and if you feel you qualify, please apply. We provide equal opportunity housing; we do not discriminate on the basis of race, color, religion, sex, disability, national origin, familial status, marital status, sexual orientation, lawful source of income, age, ancestry, or status as a victim of domestic abuse, sexual abuse, or stalking.

Application: We must receive one completed Rental Application from EACH adult who will be living in the unit.
If the application contains any omissions that are not satisfactorily explained, we will return it to you. If an incorrect social security number is provided, you may be charged a credit check fee.
Personal Identification: We require a photo ID to be presented with your completed application. If a driver’s license or state ID card is not available, the following may be used: military ID, passport, birth certificate, tribal ID, or social security card.
Rental History: It is your responsibility to provide us with the information necessary to contact your past landlords. We reserve the right to deny your application if, after making a good faith effort, we are unable to verify your rental history. If you owned, rather than rented, your previous home, you may need to furnish mortgage company references and proof of title ownership or transfer.
Income: We require the last two pay period pay stubs to be presented with our completed application. We must be able to verify independently the amount and stability of your income. (For example, through pay stubs, employer/source contact, or tax records. If you are self-employed, through business license, tax records, bank records, or a list of client references.) The rent amount cannot exceed 40% of your take-home (net) income. For Rent Assistance applications, the amount of assistance will be considered part of your monthly income for the purposes of figuring the proportion.

You may be denied rental if:
You misrepresent any information on the application. If misrepresentations are found after the rental agreement is signed, it will be terminated. You have been convicted of a crime. Your credit check shows accounts that are not current, or shows a score less than 600. You must not have had more than two accounts, 30 days late, within the past 12 months. You have been evicted within the last 10 years. Your previous landlords give poor references, or they would be disinclined to rent to you again for any other reason pertaining to the property during your tenancy, such as: excessive (non-life/safety) police calls, excessive noise complaints, lack of proper care of the premises, inadequate pet maintenance, unauthorized guests on the property, or conflicts with other tenants or neighbors. Earnest Money Deposit:** There is an earnest money deposit required that is conditionally refundable. If your application for rental is accepted, the earnest money will be applied to your security deposit or rent. If you withdraw your application after you have been accepted, certain deductions allowable by law, may be made. You may view a copy of the rental agreement and all written rules and regulations before you complete an application or pay any earnest money.