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What is the Resident Selection Criteria?
Resident Selection Criteria for New Residents
- All applicants 18 or older must submit a fully completed residency application, remit a nonrefundable application fee, and provide proof of identity. Applicants may be required to be approved by a condo/homeowner's association and may have to pay an additional application fee or an additional security deposit to the association.
- Applicants must have a gross income of at least 3.5 times the monthly rent and have a minimum of two years of residential rental history.
- A minimum credit score of 650 is required. Credit history and or Civil Court Records must not contain current slow pays, judgments, eviction filings, collections, liens, or bankruptcy within the past five years.
- Self-employed applicants are required to produce upon request two years of tax returns or 1099s, and non-employed individuals must provide verifiable proof of income.
- All sources of other income must be verifiable if needed to qualify for a rental unit.
- Criminal records must contain no convictions for felonies within the past seven years involving the manufacture or distribution of controlled substances. For other felony convictions, we will conduct an individualized assessment that takes into account mitigating factors. Factors include facts and circumstances surrounding the criminal conduct, age at the time of the conduct, evidence of good tenancy before and after the conduct, nature, and severity of the conviction, and the amount of time that has passed since the conviction. Criminal history indicating an applicant's tenancy would constitute a direct threat to the health or safety of other individuals, or whose tenancy could result in substantial physical damage to the property of the owner or others, could result in a declination of the application.
- Previous rental history reports from landlords must reflect timely payment, sufficient notice of intent to vacate, no complaints regarding noise, disturbances or illegal activities, no unpaid NSF checks, and no damage to unit or failure to leave the property clean and without damage at time of lease termination.
- No pets (except for medically necessary animals for the benefit of an occupant) of any kind are permitted without specific written permission in the lease agreement or addendum to the lease and a nonrefundable pet fee collected. There is no pet fee for medically necessary pets.
- Applicants will be required to pay a security deposit at the time of lease execution in a minimum amount equal to one month of rent. We reserve the right to require a higher security deposit based on credit.
- The number of occupants must be in compliance with HUD standards/guidelines for the property.
- We may require a holding deposit to be collected to hold a property off the market. In the event the Applicant is approved and fails to enter into a lease, the Applicant shall forfeit the holding deposit. Should the Applicant is approved, collected holding deposit funds are credited toward the security deposit.
- Requests for an exception to the resident selection criteria may be submitted in writing, to us, for presentation to the landlord for consideration. If the exception request is approved, an additional security deposit may be required.
- Our policy is to report all non-compliance with terms of your rental agreement or failure to pay rent or any amounts owed to credit bureaus or a collection agency. If a resident disputes the debt, we will report the debt as disputed.
NestTenders is a Licensed Florida Real Estate Brokerage and an Equal Housing Opportunity.
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