What are your application criteria?
Last updated August 7, 2023
At HomeRiver, our commitment is to foster trust and transparency with both property owners and potential tenants. To ensure that we're providing the best possible matches between tenants and properties, we've established a clear and fair set of application criteria. This article offers an in-depth look at those criteria.
1. Initial Considerations
- Regional Specifications: If applying for rentals in the Mid-Atlantic markets (Maryland, Virginia, or Washington D.C.), please reach out to those local teams directly for specific criteria. For California properties, refer to our California Tenant Selection Criteria.
- Non-Guaranteed Rentals: Submitting an application doesn't guarantee the rental offer. We might receive multiple applications for a single property and will select based on our criteria.
2. Application Fee
The application fee is non-refundable, ensuring a commitment from serious tenants and covering the administrative costs of processing applications.
3. Identification Verification
All applicants must provide a valid photo I.D. Incomplete submissions or those with unverified identities will be automatically declined.
4. Residency Requirements
- Applicants should reside in the property they're applying for.
- All individuals planning to occupy the property are subject to background checks.
- Those 18 years and older must qualify as leaseholders alongside the main applicant.
5. Automatic Decline Factors
Applications will be automatically declined for:
- Previous evictions by landlords for valid reasons.
- Falsification of the application.
- Invalid Social Security numbers.
- Incomplete or unverifiable details.
6. Rental Acceptance
Rentals are accepted "as is." If you have specific changes or requests, these must be written and submitted with your application. A security deposit and a signed lease are required within 24 hours of acceptance.
7. Lease Guarantor
If an applicant doesn't meet the income criteria or lacks credit history, a guarantor may be considered. However, the guarantor should not have adverse rental history, credit, or criminal background. Only one guarantor per house is allowed, and they must meet specific criteria laid out by HomeRiver.
8. Financial and Credit History
Based on the TransUnion® Resident Score, applicants are categorized into Decline, Conditional, and Accept groups. We also consider bankruptcy records and an applicant's income-to-rent ratio.
9. Criminal History
While we review certain offenses individually, any history suggesting a direct threat to other residents or the property may lead to application denial.
10. Fair Housing Laws
We strictly adhere to the Fair Housing Laws, ensuring there's no discrimination in our selection process.
11. Pet Policy
While pets are permitted on a case-by-case basis, certain breeds are prohibited. All pets and service animals should be screened and validated.
12. Credit Reporting
Applicants have the right to a free report from the credit reporting agency and can dispute any discrepancies found in the report.
In conclusion, our application criteria at HomeRiver are designed to ensure that we get a comprehensive view of all potential tenants, helping us make informed decisions. We encourage all applicants to thoroughly read and understand these criteria before applying. For further information or clarification on any point, please feel free to contact our support team.