What's included in our Screening Service
The most important aspects of property rental is finding good tenants. That’s why tenant screening is a critical part of property management services. At Suburbia Property Management, we perform a comprehensive tenant screening so that you know you’re getting the best tenants possible.
Our tenant screening includes:
- Full Credit Check
- Criminal Background Check
- Resident History
- Employment and Income Verification
- Reference Checks
- Previous Landlord Verification
- Owner tenant selection
The fee for our Screen Only Plan is $29/month per unit and is paid by the owner until the rental unit is leased. We will provide a lawn sign and flyers with property's info and instructions telling tenants how to apply. Prospective Tenants will still pay the Background Check and Application Processing fees as needed.
Each applicant must provide 12 months of residential history, including landlord contact information. Applicants with negative rental history, evictions, judgments, and/or foreclosures will be denied without the option for a Co-Signer.
Each applicant must have a minimum FICO score of 640. If the FICO score is below 640, then a Co-Signer may be allowed.
Each applicant must agree to a background and criminal history screening. Applicants who have been convicted with a serious criminal offense, such as domestic violence, assault, possesion of illegal firearms or narcotics, fraud, roberry, theft, burglary, breaking and entering, will be denied without the option for a Co-Signer.
Each applicant must show their income individually to be at least 2X the monthly rent. If income is generated from employment, then applicant must be employed for at least 3 months (subject to employment verification). Only the following forms of employment income verification are acceptable:
- 2 most recent third party paystubs (i.e. issued through third party payroll company)
- 3 most recent complete personal bank statements. Note: The name on the bank statements must match the name on the rental application.
Alternatively, an applicant may satisfy the income requirements if they have a bank account with a current balance of at least 10X the annual rent which has been maintained for at least 3 months.
If the income criteria is not satisfied, then a Co-Signer may be allowed.
A Co-Signer will only be allowed if the applicant has satisfied the rental history criteria. A Co-Signer must meet BOTH of the following credit and income criteria.
Co-Signer Credit: A Co-Signer must have minimum FICO score of 700.
Co-Signer Income: A Co-Signer must show their income to be at least 5X the monthly rent. If income is generated from employment, then Co-Signer must be employed for at least 3 months (subject to employment verification). If the rented premises will be the permanent residence of the Co-Signer, then Co-Signer may satisfy the income requirement with the standard tenant income requirement