So, you have fallen in love with a home in our portfolio! Here’s the COTTAGE rental requirements!
All persons applying to rent with Cottage Rental Collection must be at least 18 years of age. The rental criteria below will establish thresholds for approval, conditional approval, or denial of tenancy.
Approved – the applicant meets or exceeds thresholds in all areas.
Conditionally Approved – the applicant exceeds most thresholds, but may fall short in terms of one of the following: rental history, credit history, or income.
*There are alternative options for additionally approved applications.
Denied – used when there are one or more deniable factors.
Verification of applicant’s identity must accompany all applications. Applicants must submit a copy of their current valid government issued identification, or proper documentation authorizing an individual to live and work in the United States.
All Applicants must pay a one-time, nonrefundable fee of $70.00 at the time of submission. Fee must be paid prior to processing any application. All occupants over 18 must go through the application process. Regardless of which adult is financially responsible in the household.
Criminal History:
All applicants and occupants over 18 will be checked for criminal history. The history must reflect the following:
- No felony convictions for crimes against persons or for crimes against property;
- No convictions of the manufacture or distribution of controlled substances;
- No pending indictment or deferred or withheld adjudication for a felony for crimes against persons or for crimes against property; and
- No convictions or pending indictment or deferred or withheld adjudication for a misdemeanor crime against a person or property.
Prior Rental or Home Ownership History:
Applicant’s prior rental history and/or home ownership history will be verified using information provided in the rental application. Failure to provide requested information, providing inaccurate information and/or the information received upon contacting prior landlords may influence the application for tenancy.
Applications will be automatically denied for the following reasons:
- Late payment of rent, during the previous 12-month period, including instances of rent checks being returned, for any reason, will be considered a late payment.
- Any eviction or other legal action initiated by prior Landlord.
Credit History:
We require a minimum credit score of 650. A tenant screening report will be obtained from Cottage Rental Collection’s tenant screening company (subject to change). An established retail credit rating must be in good standing. Evidence of any prior judgments from any housing provider, rental company or individual, or bankruptcy within the last five years, will result in automatic denial. Applicants may be approved with the inclusion of a Guarantor for reasons of no credit history or not more than three negative accounts listed on the report.
Income Verification:
Applicant must provide verification of their gross monthly income (before taxes and insurance are deducted), as detailed in the rental application submitted. The gross monthly income of all applicants must meet or exceed a value of three times the total monthly rent for the home applicant is applying for. Gross income will be combined for all applicants applying to one home and used in the qualification process.
Proof of income must be submitted in the following forms:
- Three consecutive months’ paystubs
- Prior year W-2 from employer
- Prior year tax return
- Social Security disbursement letter
- Child support order from court of appropriate authority
- Disability disbursement
- Retirement disbursement – 401K, annuities statement, etc.
- Income verification letter from employer – must be on company letterhead
- Bank statements showing balances in excess of 12 months’ rent
Guarantor Acceptance (If applicable):
An applicant may be accepted with a Guarantor, if conditionally approved. The Guarantor must qualify as an approved applicant; must submit an application and pay the application fee; must sign all lease forms along with Applicant. Guarantors will not be accepted if applicant is denied based on criminal history, prior eviction or negative rental history, or judgment reported against a prior housing provider, landlord or individual. Guarantors are provided information related to financial status, but will not be permitted access to the home without permission from Applicant/Tenant.
Occupancy Standards:
Applicants may be denied if the number of applicants proposed to be living in the home exceed the existing zoning standards for occupancy, as regulated by local and state code and laws.
Pet Regulations:
For properties which accept pets, all pets must be accepted by the property manager and/or homeowner. Dogs who display aggressive behavior will not be permitted. Some properties may have more restrictive pet regulations (i.e. weight restrictions, breed restrictions, number of pets, etc.) and each property maintains the right to not permit pets on the property. All properties are subject to the Homeowners Association’s (HOA’s) pet restrictions and guidelines. Please reach out to us via email at [email protected] for specific pet regulations on the property for which you are applying. We are happy to address any questions or concerns you have.
Common Prohibited Dog Breeds Include: Rottweilers, Dobermans, German Shepherds, + Pitbulls.
Please reach out to us if you have any of these breeds so that we are able to confirm if we can accommodate your pet at the property of your choice, or if we need to provide you with alternative options.