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Tenants

 
The Home Shop Rental Application forms are required from EACH applicant 18 years old and over will be residing in the property. The Home Shop’s Rental Application form must be completed in its entirety, be signed by the applicant, and be submitted with a $55.00 application fee per applicant paid in certified funds; money order or cashiers check made payable to The Home Shop. The Home Shop staff will not process incomplete application(s), nor will the applicant be considered for the available property.

Earnest Deposit

An earnest deposit equal to one hundred percent (100%) of the listed monthly rental rate is required once the applicant(s) have been approved. The amount of earnest deposit may vary for each property. However, the earnest deposit will never be less than $500.00. This earnest deposit will be applied towards security deposit upon move-in date. However, the earnest deposit is non-refundable should the tenant not take possion of the property on the date designated on the rental agreement. Methods of payment for the earnest deposit must be paid in certified funds; money order or cashier’s check made payable to The Home Shop.

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Applicant understands that once the application has been approved, an earnest money deposit is required for taking the property off the market. It will be deposited in The Home Shop Trust Account. Once the property owner approves the applicant and the rental agreement is executed the earnest money deposit will be credited to the required security deposit. Said deposit will be NON-REFUNDABLE if the applicant fails to enter into a rental agreement or fails to take occupancy on the date specified. Cashier’s check or money order is required for payment of the deposit(s) and the first month’s rent.

Applicant understands that once the rental agreement has been fully executed and the earnest deposit has been received, the property will be taken off the rental market and reserved for the applicant. At this point, other portential applicant(s) will be turned away.

Applicant understands that submitting an application does not take the home off the market. We process the application on a first come, first qualified basis and do so without haste. If we are unable to verify any of the information contained on the Rental Application, it will delay the whole process and someone else might get the home instead.

Credit Check/Processing Fee and Verification Policy

Please be advised that The Home Shop will obtain, on behalf of the owner, a credit and criminal report for EACH applicant 18 years old and over who will be residing in the property. By signing the Rental Application form, the applicant authorizes The Home Shop and/or other agent(s) to obtain credit and criminal report(s), to contact applicant’s present and previous employer(s), bank(s), personal reference(s), and applicant’s present and previous landlord(s).

Applicant agrees to reimburse The Home Shop for any and all bank charges, or any fees incurred due to the payment on a cashiers check or money order being intentionally stopped or returned due to insufficient funds.

The Home Shop uses an outside agency/vendor for the processiong of all application packages. Generaly, during normal business hours, the credit report is obtained within one (1) hour after processing has begun. The lengthiest part of the application process is reference verification, so, if the applicant knows that one or more of their references may be difficult to contact, please let The Home Shop know in advance or perhaps provide alternate contact telephone numbers.

Additionally, if there is anything negative on the applicant’s credit history or if the applicant’s employer(s) and/or landlord(s) (previous and/or present) would not recommend the applicant as a resident, then, please provide a detailed explanation with the completed application package.

The Home Shop requires payment of $55.00 per applicant 18 years and older, which is to be used to screen applicant with respect to credit history and other background information and to off-set a portion of the costs associated with the processing of the applicant’s application.

If an actual credit report has been processed for the applicant, the credit check(s) fee will not be refunded for any reason.

If an actual credit report has not been processed for the applicant, the credit check fee will be refunded within ten (10) business days from the date of the deposit into The Home Shop account.

Qualification Standards

The Home Shop reviews four (4) areas of the completed application package during the qualification process- Credit History, Criminal History, Rental/Ownership History and Income Level.

To qualify for the available property with The Home Shop, applicant must have a minimum of:

  • Two (2) years established credit history in good standing
  • Two (2) years verifiable references from present and previous landlord(s)
  • Gross income of approximately three (3) times the monthly rent amount

Married couples and related residents 18 years and older may combine income. All non-related persons should apply individually. We must be able to verify employment history. If you are self-employed, we will need tax returns for the last two (2) years or verification of income through bank statements.

When an employment reference or department does not verify employment or salary earnings, proof of employment may be established by providing the last two (2) consectutive pay stubs; if self employed, we will need tax returns for the last two (2) years of verification of income through bank statements; if you are combining incomes to qualify, please provide a source of income for each applicant.

Proof of income may be established by providing a copy of the offer letter of employment from the applicant’s new company or by providing bank statements with balances equivalent to or greater then the gross income requirements listed above.

Cures

If the applicant does not meet the above qualification standards, in some cases, the following cures may be used at the sole discretion of The Home Shop only.

Guarantors/Co-Signers, in some cases, may be used to cure negative credit, insufficient gross monthly income (within $1,000.00 of the required amount), little or no rental history, or lack of stable income for six (6) months or longer.

A higher Security Deposit no more than two (2) times the rental amount, in some cases may be used to cure negative credit, insufficient gross monthly income (within $1,000.00 of the required amount), little or no rental history, or lack of stable income for six months or longer.

If the applicant knows they have something derogatory in their application package, please be prepared to pay a higher security deposit or provide a guarantor. Applicant(s) should not submit an application unless they are certain they want the property.

Bankruptcy, Evictions, Judgements and the Like

Bankruptcy- may be cured with a gurantor or higher security depost if the bankruptcy has been discharged or has occured at least seven (7) years ago and all current obligations have been paid in a timely manner.

Eviction- Applicant may not qualify for a property with The Home Shop if they have ever been evicted. Evictions will be reviewed on a case-by-case basis and will only qualify with owner’s written consent.

Judgements- If applicant has any judgement(s), applicant will be required to pay the judgement amount in full and provide proof of payment and may be required to provide a gurantor and/or higher security deposit amount.

Guarantor Qualification Policy

To qualify as a guarantor for an applicant with The Home Shop, guarantor must have five (5) years of excellent to good credit history. Gurantor will not qualify as a guarantor with a negative credit history. Additionally, guarantor must have at least five (5) times the monthly rental rate in verifiable income. All income must be verifiable and must have been stable for at least six (6) months or longer.

First Month’s Rent Policy

The first (1st) month’s rent will be due and payable at the time the tenancy agreement is signed. The second (2nd) month’s rent will be pro-rated if necessary due to tenancy start date. Payment for the first (1st) month’s rent must be paid by certified funds (cashier’s check or money order) ONLY, made payable to The Home Shop on the agreed move-in date.

Security Deposit

The Home Shop’s standard security deposit is generally equal to one month rental rate, which will be due within twenty four (24) hours of application approval. (This is the same as the earnest deposit described above.) All deposits must be paid in full upon move-in and by certified funds (cashier’s check or money order) ONLY, made payable to The Home Shop. The security deposit is not to be used as lasts month’s rent.

Application/Verbal Approval/Lease Signing

If The Home Shop approves the applicant(s), the applicant(s) agrees to execute The Home Shop Tenancy Agreement and all incorporated addendums for the property within twenty four (24) hours of verbal approval and agrees to pay the earnest (security) deposit. Applicant agrees that ALL parties to the Tenancy Agreement excepting the guarantor(s) be present together at one specified time during The Home Shop’s normal business hours which are Monday through Friday 8:30 a.m. to 4:30 p.m. to sign the Tenancy Agreement.

Applicant understands that if applicant(s) does not execute The Home Shop’s Tenancy Agreement within twenty four (24) hours of verbal approval, The Home Shop may consider another applicant.

Denied/Declined Policy

Should the Applicant’s application be declined for any reason, the applicant will be notified by telephone or in writing via mail to the current address listed on the application or via email.

Pet Regulations

Policies on pets vary according to the property. However, many of the properties wil not permit the following breeds of dogs: Pit Bull, Dobermans, Rottweiler, Chows or near relatives (Exceptions: Assistive Animals Only). Pet deposits are strictly enforced.

Equal Housing Opportunity

We do business in Accordance with the Fair Housing Act. (The Civil Rights Act of 1968, as amended by the Fair Housing Amendments Act of 1988).

IT SHALL BE ILLEGAL TO DISCRIMINATE AGAINST ANY PERSON BECAUSE OF RACE, COLOR, RELIGION, SEX, (PHYSICAL OR MENTAL) DISABILITY, FAMILIAL STATUS (HAVING ONE OR MORE CHILDREN), OR NATIONAL ORIGIN

  • In the sale or rental of housing or residential lots
  • In advertising the sale or rental of housing
  • In the financing of housing
  • In the appraisal of housing
  • In the provision of real estate brokerage services
  • Blockbusting is illegal

Anyone who feels he or she has been discriminated against should send a complaint to : U.S. Department of Housing and Urban Development Assistant Sevretary of Fair Housing and Equal Opportunity property Washington, D.C. 20410