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 2 business days 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 $125 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 1 year employment history, or in place of that, have 12 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 $250.00 non-refundable administrative fee to Sarasota Management & Leasing paid upon the closing of the lease agreement.
9) How do you decide Approval?
When processing applications, we score a resident’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 resident 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.
10) 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 $350.00 for 1 dog or 2 cats and $200.00 each for any additional pet. The following pets will not be accepted under any circumstances, GERMAN SHEPHERDS, DOBERMANS, PIT BULLS, CHOWS, OR ROTTWEILERS.
11) 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 disability related need for such support. To receive accommodation for a person with a disability and an Emotional Support Animal, Resident 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 resident is a person with disability under Fair Housing Laws.
12) How does a Realtor schedule a showing?
If you are a Realtor and attempting to schedule a showing, please review the Realtor Notes in the MLS for the listing you are attempting to view. The MLS gives instructions that include a link to be able to schedule a showing at the home.
13) What is the Home Assistant Package?
Please be aware that leasing this property includes a non-option Home Assistant Services Package that will cost an additional $39 per month. These services and their cost are separate from Resident’s monthly rent payment and all other payments described in the Lease or any separate Lease addendums. The Home Assistant Services offered are described in the Resident Welcome Packet which can be viewed here: www.sarasotamanagement.com/Home-Assistant.
14) Do you accept a Co-Signor?
Must complete an application and qualify under all criteria. The gross monthly income of the cosigner must also be high enough to meet the guidelines. A security deposit of two months rent is required for any applicant that is approved with a Co- Signer.
15) How long does it take for a refund to process?
Please be aware that it takes 3-5 business days for any payment to clear into our account. If a refund is to be paid, it also takes an additional 3-5 business days after the funds are cleared to be returned to your account. This delay is due to bank processing times and we do not add any additional delays to this process. Because of this, it can take up to 10 business days to receive your refunded payment. Please be aware that weekends and bank holidays further extend this process.