Rental Application

Regency Property Management examines the following criteria for each applicant when they apply for a lease.

Housing

An application must provide all housing references for the preceding 24 months. The reference must come from an owner or owner's agent. There must be 12 continuous months of rental housing (or home ownership) within the previous 24 months and the references must confirm that there were no problems during the tenancy.

Income

An applicant must provide employment references for the preceding 12 months and their current monthly income must be equal or greater than 3 times the rent of the apartment they are applying for. An employer, or employer's representative, must verify the applicant's employment status and income. If the applicant is going to continue to hold a mortgage or another residence then they should have verified income equal to twice their monthly debt obligations. If the applicant does not meet the income requirement, the applicant may be accepted if they have savings in excess of $250,000.

Credit

A credit report must be obtained and it must reflect no credit difficulties and outstanding housing judgments.

Public Record Search

A public record search will be done and any "red flags' like violent crimes or drug crimes will be noted prior to approval or denial of the application.