Rental Criteria:
All applicants will be processed through a credit-screening agency. All adults 18 years of age or older, or emancipated minors with written proof of emancipation, must complete and sign an application and pay a $75 non-refundable application fee.
1. Occupancy Limits
A maximum of two persons per habitable room plus a child under two (2) years old will be allowed to occupy a home. Applicable state or municipal code restrictions may also apply.
2. Pet Policy
We allow up to 3 animals in the home. There is no weight limit or breed restrictions for dogs. We require a photo of each animal and the proof of current rabies vaccination records. Each pet requires a $300 non-refundable pet fee and a $20 monthly pet rent per pet.
3. Authentication
If proof of identification or income cannot be authenticated through the application process, the application will be declined. If you provide inaccurate, false or incomplete information, the application will also result in a denial.
4. Income
Gross household rent to income ratio should be less than or equal to 33%. If the gross household rent to income ratio is between 34% - 40%, an additional deposit equal to 2 X monthly rent will be required. If your company’s payroll can be accessed through The Work Number, the income will be verified automatically. Otherwise, each applicant will be sent a link to verify income via US bank account or uploading their most recent pay stub (USD) dated within the past 30 days. If the rent-to-income ratio is more than 40% or the proof of income cannot be authenticated through these two verification steps, the application will be declined.
5. Rental History
Transfers are not permitted. Rental History will be scored on the following items:
• Unpaid rental collections, past due balances and judgements in the last 2 years will be declined.
• Applicants must have at least 1 year of rental history, or an additional deposit equal to one month’s rent will be required.
• Four or more late or returned payments in the past 2 years.
6. Criminal Background
Misdemeanors and felonies will be reviewed on a case-by-case basis as each category and time frame may differ based on class and severity.
7. Credit
Results are based on overall credit risk. Severe credit risk will result in denial. If there are multiple applicants, the scoring will be averaged for a final result. The following items will be scored:
• Outstanding utility balances.
• Late payments in the past 2 years.
• Closed bankruptcies in the past 7 years.
• Judgements, collections, charge-offs or open bankruptcies in the past 2 years.
• Foreclosures.
The following credit risk results will require an additional deposit equal to one month’s rent:
• Limited established credit.
• No established credit.
• Moderate credit risk.
• High credit risk.
8. Identification
All applicants must provide valid proof of identification through our ID verification platform. If your identification and facial recognition cannot be authenticated, the application will be declined. Unless prohibited by applicable state or local law, non-U.S. Citizens must be able to provide documentation from U.S. Immigration to verify legal residency in the United States as of the effective date of the lease agreement. Temporary or expired forms of identification are not accepted. Acceptable verification forms include:
• Current driver's license by a state or outlying possession of the United States provided it contains a photograph or information such as name, date of birth, gender, height, eye color, and address.
• Current ID card issued by federal, state or local government agencies or entities, provided it contains a photograph or information such as name, date of birth, gender, height, eye color, and address.
• U.S. Passport or U.S. Passport Card.
• Permanent Resident Card or Alien Registration Receipt Card (Form I-551).
• Foreign passport that contains a temporary I-551 stamp or temporary I-551 printed notation on a machine-readable immigrant visa.
• Employment Authorization Document that contains a photograph (Form I-766).
• For a non-immigrant alien authorized to work for a specific employer because of his or her status:
o Foreign passport; and
o Form I-94 or Form I-94A that has the following:
1. The same name as the passport; 2. An endorsement of the alien's nonimmigrant status as long as that period of endorsement has not yet expired, and the proposed employment is not in conflict with any restrictions or limitations identified on the form.
• Passport from the Federated States of Micronesia (FSM) or the Republic of the Marshall Islands (RMI) with Form I-94 or Form I-94A indicating non-immigrant admission under the Compact of Free Association Between the United States and the FSM or RMI
9. Non-US Applicants
For non-US citizens, your application results may be impacted due to limited or no US credit history. We work with Nova International Credit to transfer credit history from outside the US so that you can receive the best possible application results. You may receive a link to a supplemental application that is valid for 72 hours. The additional application fee is $50 paid to Nova. The countries that are available for screening are listed on the application link. If Nova International Credit confirms an international credit score of 600 or more, the credit portion of the application will be approved with a regular deposit. Otherwise, refer to the credit portion of the rental criteria for more information.
Approval Process
Denials & Approvals with Conditions- All applications with a result of denial or approved with conditions will receive an adverse action letter via email. A denial of one applicant is a denial of all. We cannot change the result by adding or removing applicants. Questions regarding your screening report can be directed to Rent Grow at (800) 898-1321.
Approvals- Approved applicants will have 48 hours to pay the deposit and sign the security deposit agreement, but the sooner the better. We will continue to process applications on a house until a security deposit & administrative fee has been received.
Deposits- All security deposits are required to be paid via cashier’s check or money order in person at our office located in Richardson. You must bring valid identification when you bring the deposit payment. If the applicant cancels or fails to move in, security deposits & fees are non-refundable. You must move into the house within 14 days of paying the deposit, unless otherwise authorized.
Lease Signing- The lease must be signed by all parties prior to the move-in date, or keys will not be released. Lease signing will be via electronic signature through your resident portal. A copy of the executed lease agreement will be accessible through your resident portal.
Utilities & Insurance- Proof of all applicable utilities & renter’s insurance are required prior to your move-in date, or keys will not be released. You are responsible for checking the home for gas service. Most cities require a signed lease agreement to activate utilities. Some cities require utilities to be set up in-person, and may be closed on Fridays or Holidays. Please be sure these steps are executed quickly to avoid move-in delays. We will need a full copy of your entire renter’s insurance policy showing proof of the following for your new home: address, dates of coverage, Alden Short, Inc listed as additional interest, all lease holders named on the policy, & $250,000 minimum liability coverage. We do not guarantee any specific internet services.
First Month’s Rent- Any additional deposits, fees and first full month’s rent and required to be paid via cashier’s check or money order in-person at our office located in Richardson. Your second month will be prorated, and payments will be accessible through your portal at this time. Rent will be due on the 1st of each month, and late fees are applied for all payments made after the 3rd of each month.
Alden Short, Inc does not discriminate on the basis of race, color, religion, sex, familial status, national origin, handicap, or any other protected class recognized under applicable federal, state and/or local law.