Rich Realty - Rentals FAQ
Q: Is there an application fee?
A: Yes! Our company’s application fee is $35.00. That money doesn’t go to us; it is used for credit and criminal background checks.
Q: Who has to fill out an application?
A: Any individuals 18 years of age or older who will occupy the property must fill out an application.
Q: Do I have to fill out an application for every property I’m interested in?
A: No. One application is good for all properties per person 18 years of age or older. Applications are good for 3 months. After 3 months, everyone 18 years of age or older will be required to fill out a new application.
Q: If I am denied for a rental, will the application fee be refunded back to me?
A: No, our application fees are non-refundable.
Q: What do you look for in an applicant?
A: In general, our team looks for the following, at a minimum:
- Minimum 500 credit score with positive credit history (applicants who do not meet this requirement may still be approved with a co-signer)
- No utility collections
- No evictions
- Positive landlord verification
- Monthly take-home pay is at least 2.5x the monthly rent (applicants who do not meet this requirement may still be approved with a co-signer)
- No felonies or violent criminal history
Q: How much is the security deposit?
A: The security deposit amount is always equal to one month of rent. For example, if a unit is $750.00/month, then the security deposit will be $750.00.
Q: Can I make partial payments on the security deposit?
A: No, the security deposit is due in full at the time you sign a Lease.
Q: What about the $150 move-in fee I’ve seen before?
A: That is a program we no longer utilize due to issues with the company.
Q: Do you require renter’s insurance?
A: Yes, our company requires all residents to obtain renter’s liability insurance upon signing a Lease. Tenants must obtain a renter’s liability insurance policy for a minimum of $100,000. Our company strongly encourages adding a contents coverage policy as well.
Q: What is the pet policy?
A: Please keep in mind our pet policy only applies to units that allow pets. For units that allow pets, our general policy is as follows:
- In most cases, pets must be 30 pounds or less once fully grown.
- In some cases, proof of behavioral training will be required.
- In all cases, proof of ownership and vaccination will be required.
- A non-refundable Pet Risk Management Fee of $300 will be required at the beginning of the Lease or, if the resident already occupies the unit, before the pet is allowed in the unit.
- An additional $25 Monthly Pet Admin Fee will be added to the resident’s ledger each month on top of their monthly rent.
- Pets in tanks or cages must be kept in the tank or cage at all times.
- Tanks are to be 30 gallons or less. Any tank above 30 gallons must be approved by Rich Realty Property Management prior to the tank being in the unit.
- In all cases, the resident assumes all liability for any damage their pet may cause and may face additional fees to repair any damage or to clean the unit for pet odor specifically.
Q: What if I have a Service Animal (SA) or Emotional Support Animal (ESA)?
A: These animals will go through a free pet screening with a third party. ESAs and SAs will not be charged pet deposits or pet rent. Free screening is found under the Rich Realty pet policy link.
Q: Does your office represent residents or property owners?
A: Rich Realty represents the property owners when we rent or manage property. If prospective residents wish to obtain their own representation from another real estate office, they may do so.
Q: I want to schedule a showing for a property. How is that done?
A: All Rich Realty agents are required to follow a safety protocol. The following must be done before an agent is allowed to show property:
- A copy of a driver’s license must be received by our office.
- Prospective residents must sign the Agency Representation Disclosure (Rentals).
- This document provides disclosure and information regarding who our office represents in a real estate lease or rental transaction and what that means.
- Prospective residents must be pre-approved by an agent at our office.
