1) IMPORTANT: What factors would disqualify me from renting with Great Jones?
Before you apply, please review the following criteria. Here is a PDF with factors that may disqualify you from renting with us: https://www.rhris.com/ApplyNow/25044Acriteria.pdf
2) What is the minimum credit score I need to apply?
The minimum credit score an applicant needs is 500. The security deposit will also reflect an applicant’s credit score as follows: Credit score above 650: one month’s rent as standard security deposit, Credit score 600-650: 1.5 times the standard security deposit, Credit score 550-599: 2 times the standard security deposit, Credit score 500-549: 3 times the standard security deposit.
3) What happens if my credit score is below 500?
Unfortunately as 500 is a minimum requirement, all applicants with a score below 500 will be disqualified. However, should your score improve in the future, we highly encourage you to apply with us then.
4) What is the minimum income I need to apply?
The minimum household gross (before taxes) income requirement is a minimum 3 times the monthly rent. So if your rent is $1000, your gross monthly household income needs to be at least $3000.
5) What is the next step after my application is approved?
Congratulations on having your application approved! The next steps for you will be to execute a lease via Docusign for the designated property. In addition you will need to make sure you have paid all necessary deposits (i.e. security deposit). From there we will work with you to schedule a move-in walkthrough and a move-in date with one of our field operations managers.
6) What if I don’t have an income and am planning on using my savings?
Applicants wishing to qualify using liquid savings (cash in a savings account) instead of income must provide statements for the most recent three months, showing an average daily balance of at least 36 times the monthly rent (three times the annual rent).
7) How much is the application fee?
The fee is $50 if you are applying for just yourself. If you are applying jointly with a spouse or a co-applicant, the fee is $100. The application fee is payable via credit card and we take MasterCard, Visa, Discover, or American Express.
8) Is my application fee refundable if I change my mind or if I don’t get approved?
Because the approval process at Great Jones begins immediately after an application is submitted, all of our application fees are non-refundable. This policy stands regardless of the leasing decision as well.
9) What are some documents/information I need for my application?
To make filling out your application as easy as possible, we recommend you have the following information ready: a drivers license or state ID, two current paystubs for employment verification, and a valid credit card.
10) How long will it take for me to find out if my application is approved?
Great Jones does an extensive background check on all applicants and checks references when available. We will reach out to each applicant as soon as a decision has been made but on average, each applicant should expect to wait anywhere from 2 to 5 business days for a response.
11) Can I use my application fee for other properties?
If you apply for a property that goes off the market before you get the chance to rent it, your application and fee will be valid for a 30-day period. You will be able to apply to any of our other properties within this window. For assistance in changing the property associated with your application, please contact email@example.com
12) What form of payment can I use for my deposit?
One of the benefits of renting with Great Jones is that you can execute all your payments and documents remotely. We will set you up with an account on our online portal where you can submit a direct deposit.
13) How much is my security deposit?
At Great Jones, our standard security deposit is typically equal to one month’s rent. However, based on an applicants credit score, the deposit can vary as follows: ♦ Credit score above 650: one month’s rent as standard security deposit ♦ Credit score 600-650: 1.5x the standard security deposit ♦ Credit score 550-599: 2x the standard security deposit ♦ Credit score 500-549: 3x Standard Security Deposit
14) Is there an alternative to my security deposit?
In most cases, YES. Great Jones now offers a non-refundable option to lower your move in costs via a surety bond. This is a contract between a resident and a private company (we've partnered with Jetty) to pay a 1x fee to cover the liability of the security deposit. Great Jones requires a policy that provides double coverage of the traditional deposit. (ie. Credit Score requires a standard deposit - policy would be for a double deposit) ► Please note, Jetty is not available in all states, ask your leasing agent for details.
15) Can I use my security deposit to pay my last month’s rent?
Please note that the deposit will not be used to pay the last month’s rent.
16) When will I be required to pay rent each month?
Our rents are always due on the first of the month so as to ensure that we have enough time to process and account for all of our payments - plus this way you don’t have to think about it for the rest of the month!
17) What forms of payment can I use to pay my rent?
At Great Jones, we make it as easy as possible for you to pay your rent. Our electronic payments on our resident portal make rent payment seamless. 80% of our residents simply e-pay but we also have the ability to accept rent via ACH or bank transfer. In addition, you can pay via credit card but you do need to cover the credit card processing fees.A small handful of our residents prefer to pay with cash or paper checks. If this applies to you please connect with your property manager in order to discuss payment logistics.
18) Can I renew my lease if I like my current rental?
Yes we love when residents stay! Lease renewals are something we manage frequently. There are 2-steps to our process: First, we conduct a pre-renewal inspection and walkthrough of the property. Second, we manage the end-to-end negotiation with your property owner to achieve a mutually agreed upon rent.