1) How long does it take to process an Application?
Every attempt will be made to process your application as quickly as possible. Usually this will take up to 24 hours from the time that all documents and support information are received. Causes for delaying approval are: difficulty contacting references, or waiting for additional documentation from applicant.
2) What Documents are needed as part of the Application process?
Documentation is required for approval. We require government issued ID, 2 most recent pay stubs (or 2 years tax returns if self-employed), pet photo taken with applicant (if applicable). Landlord contact info for last 2 years. All adults aged 18+ must apply & pay a $65 application fee.
3) What Criteria is used for Qualifying Applicants?
Roommates will be held equally responsible for rental agreements and must qualify separately on all criteria. Occupancy for a rental property is limited to two persons per bedroom. If occupancy includes multiple unrelated persons, the limit is no more than two unrelated persons per home. Felonies of illegal manufacture or distribution of a controlled substance within the last 7 years, felonies resulting in bodily harm or intentional damage or destruction of property for example, “arson”, within the last 7 Years or sexual related offenses for any time period will not be approved. Other possible reasons for denial are: Incomplete application, evictions, collections from landlords, credit score below 500, insufficient income, unsatisfactory references, non-discharged bankruptcies, unqualified occupants, pets (no aggressive breeds allowed), vehicles and/or move in dates too far in future can also be a reason for a declined application.
4) What is needed for Rental History?
Previous residency must be verified via landlord, or home ownership must be verified via credit report or documentation from Mortgage Company. We do not accept any unresolved tax liens, skips, evictions, rental housing debt or a pattern of returned checks or late payments.
5) What is needed for Employment History?
All applicants must be currently employed with a minimum 6 month employment history, or in place of that, have 6 months rental equivalent in a bank account. Employment must be verified via employer. Self employed applicants must provide income reporting documents. Retired applicants must provide sufficient income verification.
6) How much income am I required to verify?
Your gross monthly income, verifiable by employer and income reporting statements must equal the rent to earnings ratio of 3.0 (3 times the rent).
7) Do you perform a background check?
Yes, we run background checks and a credit report through transunion. Your credit history will be run from a national credit reporting agency. Be advised that we will check your credit report thoroughly as well as check into previous addresses listed on the report.
8) Are there any other fees associated with the Application and Approval?
There is a $195.00 non-refundable administrative fee to Sarasota Management & Leasing paid upon the closing of the lease agreement.
9) What is required for a Holding Deposit?
A reservation fee may be submitted with your application of at least $500.00 up to the amount equal to 1 month's rent. This must be paid in a cashiers check or money order. This reservation fee does not guarantee that you will get approval to rent. However, we will take the property off of the market pending decision on your application. If for any reason the management decides to decline the application, management will refund you your reservation fee in full minus the application fees. You will have 48 hours to provide all necessary documents to approve your application, or you will be put on a waiting list until all documents are provided. Once your application is approved, the applicant has 48 hours to sign a prepared lease or they may forfeit their reservation fee. Once your application is approved, your reservation fee will be applied towards your security deposit. Failure to follow through and sign a lease will result in a forfeit of the entire reservation fee.
10) How do you decide Approval?
When processing applications, we score a tenant’s application based on Employment History, Rental History, and Credit Score. If an applicant has more than 2 years working experience in their field, a good rental history, and a credit score above 700, they may only be required to place a security deposit of one months’ rent. If any of this criteria is lower, the tenant may be required to place the equivalence of two months’ rent in a security deposit and if the applicants score does not reach a sufficient standard in all areas, they may be required to place two months in security deposit and provide a last months’ rent.
11) What is your Pet Policy?
No pets (with the exception of medically necessary pets) of any kind are permitted without the specific written permission of Sarasota Management & Leasing and an additional Non-refundable Pet Application Fee of $300.00 for 1 dog or 2 cats and $150.00 each for any additional pet. The following pets will not be accepted under any circumstances, GERMAN SHEPHERDS, DOBERMANS, PIT BULLS, CHOWS, OR ROTWEILLERS.
12) How do you accomodate assistance animals?
We provide accommodation for residents that request a reasonable accommodation for disabilities. Service dogs have been trained to do work or perform tasks for the benefit of an individual with a disability and we allow accommodations for person's with disability. Emotional Support Animals are animals that provide support to persons with disabilities who have a disabilityrelated need for such support. To receive accommodation for a person with a disability and an Emotional Support Animal, Tenant must submit a Doctor's Note (Or Note from a Qualified person) and a reasonable accommodation request. The Doctor's letter must state that the tenant is a person with disability under Fair Housing Laws.