Real Property Management Wake County (RPM) Rental Application Disclosure

APPLICATION INFORMATION:

• A non-refundable application fee of $75.00 is required per adult applicant (18+ years old) and must be submitted with the completed application to be processed.
• Incomplete applications submitted will not be processed, nor is the fee refundable.
• Any inaccurate or incomplete information can be grounds for rejection of the application, loss of application fee, and potential termination of lease if discovered later. Once submitted, application information cannot be changed or edited.
• We reserve the right to deny applicants who are rude, insubordinate, or inappropriate with our staff.

TRANSFERABILITY / COMMUNICATION OF AN APPLICATION:

• Your application is transferable to other available properties in our inventory for up to 30 days after submission. However, you may only apply to one property at a time.
• Applications will be discussed only in writing by email or text. Please ensure all your contact information is valid and up to date.

CREDIT VERIFICATION: TransUnion Resident Score 4.0

• A Resident Score is a scoring system designed specifically for resident rental screening from TransUnion. This score is similar to a credit score, except it uses information to determine risk for potential negative rental outcomes in the rental industry. TransUnion Resident Score 4.0 is used to process all residential rental applications.
• Applicant(s) must have a combined average resident score of 640 or more to meet our standard approval guidelines. If the combined average resident score is between 590–639 or if no score is available, applicants may receive a conditional offer, which could require a higher deposit obligation and participation in our credit cooperation program with an additional monthly fee with the Resident Services Package (RSP).
• Non-U.S. citizens without a Social Security Number may be subject to alternative tenant screening processes.

INCOME VERIFICATION:

• Applicant(s) must have a combined monthly gross income of at least 3.5 times the total monthly rental obligation.
• We may require a higher security deposit for applicants with incomes between 3.00 to 3.49 times the rent if all other criteria are met.
• Accepted forms of income verification include: payroll link, bank link, or verifiable recent pay stubs with deposit records. All information must be cross-verifiable in writing.
• Income from employment must be local to the area of the home or applicants must provide proof of remote employment, or new local job offer.
• Self-employed applicants must provide a minimum of two years of signed tax filings, and at least six months of recent bank statements, and any other required document as necessary to verify income.

PRIOR RENTAL HISTORY:

• Rental history must be satisfactory with no record of eviction judgments in the past 36 months, along with no eviction filings within the past 12 months, and no more than 2 dismissed eviction filings within the past 36 months.
• We fully reserve the right to request and receive prior rental history from current and previous landlords. Previous late payments, debts, un-fulfilled lease obligations, or forcible detainer actions with current or past landlords, may result in a higher security deposit(s) or decline applicant(s) for what RPM deems non-satisfactory rental history.

IDENTITY VERIFICATION:

• A valid, unexpired government-issued photo ID is required for all applicants age 18+. This includes: Driver’s License, Passport, U.S. VISA, or Military ID. You must submit a copy of the ID with your application.

BANKRUPTCIES:

• Any history of bankruptcy, particularly open or pending, may result in application denial.

GUARANTORS/CO-SIGNERS:

• Guarantors may be used to cover only one category of weakness on an application: insufficient income or no prior rental history.
• The applicant(s) Resident score will still be considered for qualifying purposes. Guarantors must meet the following criteria: minimum credit score of 640, verifiable monthly gross income of at least 3.5 times the rent when combined with applicant(s) income, and a debt-to-income ratio below 45%.
• Only one guarantor is allowed per lease, with exception of student rentals, where one guarantor is required per applicant.

CRIMINAL HISTORY:

• Applicants must have at least 60 months (5 years) without felony convictions.
• RPM reserves the right to deny applicants based on excessive criminal history, especially convictions related to banned substances, fraud, sex or violent crimes.

HOUSEHOLD PETS:

• Not all RPM properties will allow pets. For properties allowing pets: A maximum of two (2) pets is allowed. An additional $50.00/month per pet is charged with rental payment, which will not be modified during the lease term. Photo(s) of each pet must be submitted before approval.
• Certain aggressive breeds and exotic animals are prohibited, including: Staffordshire Terrier, Pit Bull, Rottweiler, German Shepherd, Doberman, Chow, and similar breeds or mixes.
• All pets must be disclosed in the application. Non-disclosure may result in application rejection and/or fines.
• Assistance animals (medically necessary) are exempt from pet restrictions.

RENTERS INSURANCE (HO-4 POLICY):

• Tenants must obtain and maintain HO-4 renter’s insurance during the tenancy.
• Proof of active insurance must be provided at move-in and upon request during the lease.
• The policy must cover liability for bodily injury and property damage in the amount of $100,000.
• RPM reserves the right to obtain forced place insurance if the tenant does not comply, which would be at prevailing premiums and/or fine resident with administrative monthly charges for non-compliance.

ACCEPTANCE OF PROPERTY & MULTIPLE APPLICATION(S):

• The property must be accepted in “AS IS” condition unless otherwise agreed in writing with broker in charge.
• If two application(s) are approved with identical terms, the first fully completed application will be selected & others will be considered backups, and are transferable per guidelines outlined in disclosure.
• Application fees are non-refundable regardless of the outcome.

 PROPERTY RENTAL INFORMATION:

• All advertised property details (Example: bedrooms, bathrooms, square footage, etc.) are deemed reliable but not guaranteed. Applicants should verify all details before signing the lease. When applying for a property you will have to commence the lease within three (3) weeks of being approved. If the property is not available within three (3) weeks of approval, the lease will begin on the first available date.

LEASE ADMIN PREPARATION / RESIDENT SERVICES PACKAGE (RSP):

• Initial move-in funds (deposits, rent, fees) must be paid by certified funds (cashier’s check, money order, or ACH/e-payment funded by our partnership with OBLIGO).
• A non-refundable lease administration fee of $325.00 will be charged to cover all lease preparation administrative activities, move-in inspection report, and key/garage remote issuance.
• One full month’s rent is required with move in funds, regardless of move in date. Applicable prorated rent will be charged on the first day of the second month of the lease.
• A $40.00/month Resident Services Package (RSP) will be charged concurrent with all monthly rental payments, this amount can be higher for applicant(s) accepting the conditional offer for score(s) below our standard approval using the credit cooperation program. The RSP includes the following:
  • Online Portal(s), No-Fee ACH Payments, and Maintenance Communication Center
  • Emergency Maintenance Line & Portal
  • One-Time Late Fee & Non-Sufficient Funds Fee FORGIVENESS Waiver
  • No-Fee Lease Renewal Processing Benefit
  • Utility Concierge Program, Lock Box Move-Ins, OBLIGO Deposit Alternative
  • Pest Control Reimbursement Benefit
  • Positive On-Time Rental Payment Credit Reporting to Experian building your credit!
  • Move-in, Move-out and during residency property condition reviews
  • Rental & Mortgage Verifications Benefit
  • Homebuying Assistance Benefit
  • And much more see the current Resident Services Package (RSP) for complete details.

FAIR HOUSING:

• We pledge to honor the letter and spirit of the U.S. Policy for the Achievement of Equal Housing Opportunity throughout the U.S. We encourage and support a program in which there are no barriers to obtaining housing because of Race, Color, Religion, Sex, Handicap, Familial Status, National Origin, Gender, Gender Identity, or Sexual Orientation and should North Carolina or local law offer more protection, we shall adhere to those laws as well.
• We allow access to our available rental homes, and you may also preview our properties on-line and apply on our website. We provide staff who will provide you with opportunities to view our properties, discuss the rental information, application process, and review our application disclosure. Our leasing team or staff members are not authorized to negotiate on behalf of RPM and any verbal representations are non-binding.