Rental Scoring & Your Rental Application

 

The following is required to complete the online application:

• Each occupant 18 years of age and older must be included on the application
• Payment of non-refundable application fee of $50 per adult (18+)
• Upload proof of income (see application criteria for details) and a copy/photo of government issued photo ID
• Acceptable forms of income:
  • Clear and legible proof of income for the past 30 days.
  • Paycheck stubs must include employer information, pay dates, applicant name, YTD earnings and tax deductions.
  • Employment Offer Letters must be on company letterhead and include the employee name, start date and salary information.
  • If you receive additional monthly income, please provide the current year award letters from SSI, SSA, VA, child support, divorce decree, etc.
  • If self employed, please provide bank statements for the past 3 months (deposit pages only if possible).
  • Bank statements must match applicant name and can only be used for self employment income.
  • Total gross monthly household income must be equal to or more than 3 times the monthly rent
• All pet details
• List all minor occupants (under 18 years of age) as “additional applicant” although no fees apply
• Each applicant must have a unique email address

What are the minimum requirements to lease a home?

Minimum requirements include:

• A combined gross monthly income of 3 times the monthly rent amount
• Felony convictions considered case by case
• No evictions or landlord balances within the past 60 months
• No active/open bankruptcies
• Acceptable credit history

What if there are multiple applications on the home?

In today’s competitive marketplace, it is common to have more than one application on any given home. In this instance, the landlord will choose the best suited applicant based on qualifications and offers. Offer considerations include: rent amount, move-in date, repair stipulations, and lease duration. Non-prevailing parties may still be qualified for another home and their application can be transferred to another Streetlane Homes managed property with NO additional application fees.

 

What is Streetlane Homes Pet Policy?

Streetlane welcomes up to a maximum of two (2) pets per household. A pet is defined as a dog, cat, small bird, rodent, fish, turtle or other small, domesticated animal.  Streetlane does not allow exotic, farm, wild or venomous pets.  The following dog breeds (or breed mixes) are not permitted as pets: Pit Bulls, American Bull Terriers, American Staffordshire Terriers, Rottweilers, Doberman, Wolf Hybrid.

 

The following pet fees will apply:

•     First pet - $300 nonrefundable pet fee due prior to move-in. A monthly pet rent of $25 will be charged each month.

•     Second pet – an additional $100 nonrefundable pet fee due prior to move-in ($400 total). An additional $25 monthly pet rent will be charged each month ($50 total per month).

•     There is no charge for a Service Animal or Emotional Support Animal (ESA).

 

Weight and size restrictions may be evaluated on a case-by-case basis, dependent on property size.

 

•     All pet owners must complete and abide by the Pet Addendum as part of their lease.

•     A picture of all pets must be submitted with the above-mentioned addendum.

•     Evidence of Renters Insurance coverage, which includes additional dog bite liability, must be submitted.

 

What is Streetlane's Policy regarding Emotional Support Animals (ESA Pets)?

We welcome up to a maximum of 2 assistive/support animals per household. Applicant / Resident must provide a doctor's letter dated within the past 12 months to support the necessity of the service or support animal. Applicant / Resident must agree that the animal cannot create a nuisance and that it must be on a leash if outside the home but on the property area. Landlord has the right to refuse exotic animals even if they are service animals.

What happens if I am approved?

Approved applicants must submit the security deposit within 24 hours from the date of approval. For your convenience, this can be paid electronically from your RentCafe portal. Upon receipt of payment, we will send the lease for electronic signature. Move-in charges due on or before the move-in date include: first month’s / pro-rated rent, pet deposit, any additionally required security deposit, and a $150 administrative fee.

Who is responsible to pay for utilities and landscaping?

The resident is responsible for all utilities and services including but not limited to: gas, electricity, water, trash, cable, internet, alarm monitoring, snow removal, and pool service unless otherwise agreed upon in writing. Water, Sewer, Gas, Electric and Trash service to your dwelling will be billed by the service provider to and paid for by Streetlane Homes and then allocated directly to the resident for payment monthly based on the amount billed by the provider by service type. In certain states, you may be required to activate all utility services in your name. Residents are also responsible to maintain the lawn and landscaping.

Rental Scoring

Many landlords rely upon “Rental Scores” to estimate the relative financial risk of leasing a home to you. In addition to estimating risk, rental scores are an objective and consistent way of reviewing relevant applicant information, and help speed the application approval process.

How is my rental score determined?

Rental scoring systems assign points to certain factors identified as having a statistical correlation to future financial lease performance. Your rental score results from a mathematical analysis of information found in your credit report, application, and previous rental history. Such information may include your bill-paying history, the number and type of accounts you have, collection actions, outstanding debt, income, and the number of inquiries in your consumer report. The final number, or rental score, represents an estimated level of risk as compared to the performance of other consumers in a range of scores.

Because your rental score is based upon real data and statistics, it is more reliable than subjective methods of evaluating your information. Rental scoring treats all applicants consistently and impartially. Additionally, your rental score never uses certain characteristics like – race, color, sex, familial status, handicap, national origin, or religion – as factors.

How is my rental score used?

Rental decisions are based upon how much risk a landlord is prepared to accept. Each landlord, therefore, sets the minimum score required for approval of an application. It is possible for your rental score to yield different results depending upon where you apply. Your rental score might mean a denial at one property, while the same score might be approved at another. It all depends upon the risk a landlord is prepared to accept. In some instances, you may be offered a conditional approval with a higher security deposit if your rental score fails to meet the standard deposit requirement.

What can I do to improve my rental score?

Your rental score may change if the underlying information it is based upon changes. The total improvement, however, generally depends on how that factor relates to other factors considered by the scoring system. Nevertheless, to improve your rental score, concentrate on paying your bills on time, paying down outstanding balances, and not taking on new debt. Your chances of approval should also improve if you apply for a home with lower monthly rent.

 

Where can I have my score explained?

Should your application be declined based upon your rental score, you can learn which factors most negatively influenced your score by contacting the consumer reporting agency listed below. Additionally, you can obtain a free copy of your consumer report, if you make the request to the consumer reporting agency within 60 days of the denial.

 

CoreLogic SafeRent, Inc.
ATTN: Consumer Relations Department
7300 Westmore Road, Suite 3
Rockville, MD 20850-5223
Ph. (888) 333-2413