Tenant Screening Policy
Impact Property Management (“Impact”) is the exclusive agent and representative of the property owner and does not, in any respect, have any fiduciary or agency responsibilities to the applicant. We do business in accordance with Federal Fair Housing law. All federal, state, and local laws are followed and each application is processed without regard to the race, color, religion, sex, handicap, familial status, sexual orientation, national origin, or any other protected class of applicant.
Applications must meet the minimum requirements set forth in each rental listing, as the requirements may vary from listing to listing. Each prospective occupant 18 years of age and older must complete a rental application and pay the non-refundable application fee of $55 (each).
Impact Property Management (“Impact”) does not accept comprehensive reusable tenant screening reports.
Impact processes rental applications on a first come first serve basis. A completed application must be received prior to Impact considering your application. Failure to provide all requested information and/or documentation within 24 hours will cause the hold on the property/unit to be released and the property to be placed back on the rental market as being available. If there is more than one applicant, the required documentation must be submitted for ALL applications. Application fees will not be refunded due to failure to provide the requested information within the allotted time.
A rental application will be considered complete once the following have been provided:
- A completed rental application, including all requested information and the required screening fee, for each proposed Tenant or occupant who is 18 years of age or older
- Current and previous 2 year residency histories
- Current and previous 2 years employment histories
- all contact information for residency and employment histories
- A copy of each applicant’s driver’s license or other government-issued photo ID
- Proof of income for each applicant
- Any reasonable accommodation requests, if applicable
Please note that all of our properties require a minimum monthly income which will be stated in each individual listing. A larger income may be required after review of the applicant(s) debt load, credit history, payment history, housing expenses, household expenses, business expenses, and any past due amounts to determine applicant’s solvency or insolvency.
We accept all legal and verifiable sources of income. Income is verifiable with the following documentation:
- pay check stub showing year-to-date income, minimum 2 most recent pay stubs
- voucher by a state agency or any entity making financial contributions to your tenancy
- most recent 2 years tax returns
- complete bank statements (all pages)
- retirement statement
- Cash deposits are not considered verifiable income. If self-employed you are required to provide personal and business bank statements, or tax returns, for the previous 2 years.
- We are unable to consider tips as a verifiable source of income unless they have been claimed on your taxes or appear on you pay stubs.
- If the income does not meet this requirement, applicant will not be approved to rent the home.
While income and credit requirements may be property specific, the general criteria includes:
- Documentation of adequate gross income (as noted in each individual listing). Housing vouchers, if applicable, will be included in the income calculation
- Proof of current and valid, government-issued photo identification i.e., driver’s license, passport, visa, etc.
- Verification of employment and income
- Verification of valid 3rd party positive, current rental history / or residency history for the last 2 years. Verification from a friend or family member will not be considered.
- Positive credit history. The minimum score requirement will be noted in each listing
- Ability to start financial responsibility for the residence within 7 to 14 days of submitting the application
- Co-signers are not accepted at all properties. If you feel a co-signer will be needed, please contact Impact for additional information regarding the specific property you are interested in.
- If a co-signer is accepted at a property, the income requirement is a monthly income equal to 5 times the monthly rental amount. The credit score must be 750+ and the co-signer must reside within the United States.
Criteria that could result in denial of application and residency for all applicants include:
- credit issues which may indicate an applicant is high-risk, or a pattern of payment delinquency
- Excessive debt which may impact applicant’s ability to pay rent
- Any open bankruptcy. Prior bankruptcies on record may require a larger security deposit.
- Unverifiable social security number (cannot use TIN in place of an SSN)
- Omission and /or falsification of any information
- History of criminal behavior and or activity by any proposed occupant which presents a danger to persons and/or property, or the peace and enjoyment of the others. Determinations as to criminal activity screening will be made on a case-by-case basis and based on several factors and information. There will be no automatic denials for arrests or criminal convictions except the following: manufacture and/or distribution of any federally controlled substance
- Incomplete applications and/or failure to provide requested information and or documentation within 24 hours
- While Impact processes rental applications on a first come first served basis, Impact reserves the right to accept, process and approve any applications at any time during the rental and application process. This may occur if the current application does not appear to meet the stated criteria, even if the screening is still in process. When there are multiple applications, we prioritize applications based upon the qualifying criteria.
By submitting a rental application, you acknowledge that you have read and understand these terms.