Thank you for your interest in leasing one of our homes.  The decision to approve your application is entirely up to the Management Company and the Landlord of the Property for which you are applying. Below are the guidelines and requirements for our qualifying criteria so that we may make a recommendation to the Landlord based upon the following factors:

INCOME (for both private pay and Section 8 applicants) – Private pay applicants must have a verifiable, consistent, stable combined monthly gross income of at least three (3) times the monthly rent. If there are two roommates, individual proof of income must equal or exceed 2.5 times monthly rent. Three or more roommates each require proof of income that meets or exceeds 2 times the monthly rental amount. If applicant has a voucher through a housing program then the applicant must certify they have the financial resources to meet their portion of rent and daily living expenses. Voucher program applicants must possess and furnish evidence of a valid and current Section 8 voucher administered by a housing authority with which Crestone Property Management is authorized to do business and documentation that the property falls within program affordability amounts and would subsidize the subject property.  Additionally, Crestone Property Management reserves the right to deny applicants with vouchers for fewer bedrooms than in the subject property. Reliable documentation and contact information for all income sources must be provided. Income/Employment must be verifiable by verification procedures of Management’s/Landlord’s choice to qualify for a rental unit including but not limited to verification through a direct supervisor, payroll, or human resources department. Self-employed Applicants must provide their most recent two (2) years signed tax returns and the previous six (6) months bank statements. Longevity of employment may influence the Landlord’s decision to lease the Property to you.  Unverifiable income will not be considered.

CREDIT – A Credit Reporting Agency (CRA) report, commonly known as a credit report, will be obtained for each applicant and occupant over the age of 18. Landlord’s decision to lease the Property to you may be based upon this information.  Credit scores are just one part of your application, so low scores and blemishes on your credit report are not necessarily automatic disqualifiers. Credit reports supplied by Applicants will not be accepted.  Credit Score should be at least 550 or above with no bankruptcy in the last 5 years, no legal items (i.e. judgments), no landlord debts, unless proof of payment in full is provided, and no utility debts for providers required for the subject property. Debt to income ratio needs to be 25% or less.  Additional deposit may apply.

IDENTIFICATION – Each applicant who applies for a house must have a valid social security or ITIN card and a U.S government issued picture identification card.

RENTAL HISTORY – a minimum of five (5) years and/or three previous residences of verifiable rental history without interruptions (living with a relative does not constitute a tenant/landlord relationship for rental verification purposes). Rental history at the current and previous residence needs to include satisfactory rental payment history, no eviction history (call us if it’s been more than 5 years followed by excellent rental history), sufficient move-out notice, all lease terms fulfilled, no complaints or illegal activities, no actions that may adversely affect the health or welfare of other residents, no illegal occupant or unauthorized pets, no damage to the unit or failure to leave when contractually required to and/or any landlord debt owed must be paid in full.  No rental/mortgage history will require an additional deposit. If applicant owns/selling/sold a home, mortgage information must be provided.  Failure to provide the requested information, inaccurate information or information reporting negatively by a Landlord may influence the Landlord’s decision to lease the Property to you. 

CRIMINAL – A criminal background search will be conducted for each applicant and occupant over the age of 18.  It is our policy not to lease to applicants with
-Felony offenses involving crimes against minors, sex-related offenses, homicide, kidnapping, and drug sale, manufacturing, or distribution, or any felonies within the past 10 years.  
-Misdemeanors offenses involving crimes against persons, minors, property, or animals, sexual offences, financial crimes;(e.g. bad check, identity theft, fraud), and drug sale, manufacturing, or distribution, prostitution, and/or weapons related offenses within the past 4 years.
If the criminal background search and/or information provided by you reveals past criminal convictions which violate our policy, your application may be denied. Landlord’s decision to lease the property to you may be influenced by the information contained in the report.

MAXIMUM OCCUPANCY STANDARDS – Maximum of two (2) persons 6 months or older per bedroom plus one (1) person if allowed by rental local laws/rules.

APPLICATION FEES/DEPOSITS – All applicants must be of legal age (18).  All parties 18 years of age or older are required to submit a separate, fully completed, dated and signed application, even if living with parent or guardian.  Application Fee is $50 per individual age 18+ who will be named on the lease or an occupant in the property.  Every adult, age 18 or older who establishes residency and/or applies for tenancy must be a lease holder in accordance with Texas Statue.  Any omissions, errors, unverifiable information or falsifications may result in denial of the application and possible termination of occupancy rights if previously approved for occupancy.  No applicant will be considered for occupancy until a completed application has been turned in to Crestone Property Management; signatures and application fees are required to process your application. If the question does not apply to the applicant an “N/A” should be placed in the answer space provided.  The application fee is non-refundable, and Application Deposit is non-refundable once application has been approved and we hold the property for you.  Application Deposit and first month’s rent must be made with certified funds (cashier’s check or money order).

If approved, Applicant is required to sign the lease and pay a security deposit in the minimum of one (1) month’s rent within 24 hours of Applicant notification of approval to secure and hold the Property and for those on Section 8 before filling out the RFTA Packet.  We’ll furnish keys and/or access devices only after: (1) all parties have signed the Lease and other rental documents referred to in the Lease; and (2) all applicable rents and security deposits have been paid in full no less than 4 business days before the lease start date. (3) proof of required Renter’s Insurance is satisfactorily provided. Until the application is approved, security/application deposit is received and lease is signed, the Property Owner/Landlord/Management Company may continue to show the Property to other prospective Tenants and accept other applicants. We require the applicant to view the property or by the applicant’s representative prior to a lease being signed.  At the Property Owner/Landlord/Management Companies sole discretion, a higher security deposit and/or additional pre-paid rent may be accepted in lieu of acceptable credit or landlord history. 

PETS – No pets of any kind are permitted on the Property. Pet includes any animal, whether mammal, reptile, bird, fish, rodent or insect. The lease outlines the penalties for pets found on the property during tenancy.

REJECTED APPLICATIONS – If we do not approve your Application within 7 days after the date we received a completed Application, your Application will be considered “disapproved.” Notification may be in person or by mail or telephone or email. You must not assume approval until you receive actual notice of approval. The 7-day time period may be changed only by separate written agreement. Crestone Property Management may provide any rejected or ineligible applicant/household that completed the application process with a written or verbal notification of the grounds for rejection within seven (7) days of the determination which may include the specific reason for the denial and will reference the leasing criteria upon which the denial is based. Please note we do our best to timely run applications.  Even if you have perfect credit and rental history, that does not mean you will be approved as we may have other applicants who also fit the same criteria.

RENTERS INSURANCE – For the duration of your Lease Contract you must maintain a personal liability insurance policy, which provides limits of liability to third parties in an amount not less than $100,000 per occurrence. You will ensure that the liability insurance policy identifies the landlord or property management company as a “Party of Interest” or “Interested Party” (or similar language as may be available). 

To protect your private financial and credit information, the Property Owner/Landlord/Management Company do not discuss credit reports with an Applicant in accordance with the provisions of the Fair Credit Reporting act and do not release copies of credit reports.  The Applicant can request the contact info for the consumer credit reporting agency (CRA) that made the report and request additional details from the CRA.

I ACKNOWLEDGE THAT I HAD AN OPPORTUNITY TO REVIEW THE PROPERTY’S QUALIFYING CRITERIA, WHICH INCLUDES REASONS WHY MY APPLICATION MAY BE DENIED, SUCH AS CRIMINAL HISTORY, CREDIT HISTORY, CURRENT INCOME, AND RENTAL HISTORY.  I UNDERSTAND THAT IF I DO NOT MEET THE PROPERTY’S RENTAL QUALIFYING OR SELECTION CRITERIA, OR IF I FAIL TO ANSWER ANY QUESTION, OR IF I PROVIDE FALSE OR MISLEADING INFORMATION, THE PROPERTY MANAGER MAY REJECT MY APPLICATION, RETAIN ALL APPLICATION FEES, ADMINISTRATIVE FEES AND DEPOSITS AS LIQUIDATED DAMAGES FOR ITS TIME AND EXPENSE, AND MAY TERMINATE MY LEASE AND MY RIGHT OF OCCUPANCY IF I HAVE ALREADY TAKEN POSSESSION OF THE PROPERTY.