Property Management Blog

Application Policy and Process

Please note…any unit can have a pending application on it at any time. The first applicant to complete the paperwork and pay all fees/deposits, will be the one who is able to secure the property.

Thank you for your interest in a rental home with Keystone Realty & Management. Before you start the application, please review the following information to ensure you understand. Application fees are non-refundable. Our policies and screening requirements are subject to change at any time to keep in line with state and local laws. Keystone Realty and Management is committed to equal housing and we adhere to all rules and guidelines with the Federal Fair Housing Act and Fair Credit Reporting. Additionally, we are members of the National Association of Realtors and adhere to the Realtor® Code of Ethics. 

By filling out this application, Applicants are entering into a business relationship with Keystone Realty & Management (an agent for the property owner).  Professional, courteous and business like behavior is expected from all parties.  Keystone reserves the right to refuse rental to anyone who demonstrates behavior that is rude, disrespectful, verbally abusive, threatening, or in other ways leads the property manager to believe that the business relationship would not be positive and beneficial to Keystone and the property owner.

Application:

1. The Application fee is $75 for the initial applicant, and $25 for each additional co-applicant/co-signor or spouse. (Adult children are required to do an occupant screening for criminal history at no charge).
2. Application is processed online and gives the initial applicant the ability to send an application link to a co-applicant/co-signor at the completion of their portion of the application.
3. Application fee is paid online prior to submitting the application (application is not processed until all co-applicants/co-signors have completed their portion).
4. Applications take 24-72 hours to process on average, and consists of a credit screening, criminal background screening, and rental history verification. Processing of application may have delays due to rental history verification as the office must get in contact with previous landlords/rental companies. It is very important to provide verifiable rental history with updated contact phone numbers or email address.
5. Documentation:
   1. Valid Government issued Photo ID or passport/visa (For everyone over the age of 18)
   2. 30 days of verifiable income (paystubs, LES, tax returns, social security/disability documents) Bank statements or 1099's are not verifiable income.
      • Income must gross 3x’s the monthly rent amount to qualify
6. Criminal Background – Keystone Realty & Management will perform a background check on all applicants which will include nationwide criminal search, sex offense, and terrorist database check. Criminal Felonies may result in denial of application
7. Credit Check – a hard inquiry will be done on all applicants. Credit history should show the applicant has a long history of paying bills on time with little to no collection history. As a general rule, all applicants must have a 600 minimum credit score, but may be approved with conditions or double deposit for credit issues as a result of medical/student loan debt (co-signors must meet all requirements with a 680 credit score).
   1. Applicants with an open Bankruptcy will result in automatic denial.
8. Approved Applicants:
   1. Applications are good for 30 days and are good for all properties within verifiable income range.
   2. Applicants with Animals/Pets – Upon approval of initial application, you will be sent to an additional online screening site to acknowledge our pet policies and register your Pet and/or Service Support Animals. Animal Policy can be reviewed online at the following link: https://www.keystonerealtyandmanagement.com/blog/animal-screening
   3. Upon approval, you will be notified so you may schedule a showing with your Realtor®. Most Affiliated Realtors® require an approved application prior to scheduling a showing.
   4. Deposits: Properties are not secured until all deposits are paid in full and a lease agreement is signed. In addition to the security deposit a non-refundable admin fee in the amount of $200 is due at lease signing. This covers the lease preparation and signing and the use of the tenant online portal.  The property will continue to be advertised and accepting applications until all deposits are paid and a lease is signed. All deposits are handled on a first come, first serve basis and time is of the essence to secure a rental property. The application processor will inform you of the exact costs associated with deposit and rent at the time of approval.
9. Additional Guidelines:
   1. Applicants with no rental history may require a double deposit
   2. Applicants with unverifiable rental references or family rental references may require a double deposit

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