PLEASE NOTE – IF YOU DO NOT SUBMIT INCOME DOCUMENTATION AND/OR A VALID GOVERNMENT ID YOUR APPLICATION IS CONSIDERED NOT COMPLETE AND THE NEXT APPLICATION IN LINE WILL BE PROCESSED.

 

All residents 18 years of age (or as permitted per state and local laws) and older must apply, pay a separate application fee, and meet the minimum rental requirements to obtain approval to rent from Peak Property Management.

Occupancy Requirements: Two bedroom/One or Two bath – No more than 4 occupants. Three-bedroom/Two bath – No more than 6 occupants Four-bedroom/Three Bath – No more than 8 occupants

Date of Possession: Once approved possession of the property must be taken within 14 days of approval and there is not hold fee required. If a later move-in date is needed, please contact the leasing office to discuss other options or properties that may be available closer to the date requested.

Deposits: A deposit must be paid within 24 hours of receiving Next Steps post-approval and must be paid in the form of certified funds. Failure to move-in will result in a cancellation fee equal to one month’s rent.

Non-refundable administration fee: A $300.00 administration fee will be due within 24 hours of receiving Next Steps post-approval and must be paid in the form of certified funds.

Application: All persons over the age of 18 (or as permitted per state and local laws) residing in the property must complete a separate application; pay a separate application fee and undergo the screening process. Each applicant must also provide verification of income, valid government-issued identification and additional documentation as requested to complete the application process.

Application Fee: The application fee is $65.00 per applicant and is non-refundable.

Age Requirement: Lease holder(s) must be 18 years or older (or as permitted per state and local laws). All occupants 18 years or older (or as permitted per state and local laws) will be required to complete a separate application (even if living with a parent or guardian) and pay a separate application fee.

Required ID: One form of Government issued photo I.D. is required when the lease agreement is signed. Temporary citizenship with Passport and/or other forms of federal or state identification are acceptable forms of identification.

Non-US Citizens without a Social Security Number: Non-Citizens/Temporary citizenship with Passport and/or other forms will be required to provide additional state or federal identification, in addition to one month rent as an additional refundable deposit upon move in.

Credit Requirement: A credit report will be obtained on all applicants to verify credit history and credit rating, including credit score. Unfavorable accounts may negatively impact the screening results to determine eligibility and security deposit amounts . The scoring system software will approve, approve with conditions or deny. Additional deposits will be required for any conditional status.
550-600: will be increased deposit 2x assuming all other criteria is also met. 600-650: will be increased deposit 1.5x assuming all other criteria is also met. 650+: will be 1x deposit assuming all other criteria is also met.

Less than an average household credit score of 550 will be a denial. Pending and open bankruptcies will result in an automatic denial of application. Discharged bankruptcies in the last 7 years may result in an approval with additional deposit, pending all other screening criteria and factors are met.

 

1. Income Requirement and Verification: The gross monthly household income must equal three times (3x) the base rental amount for the property. All income must be verifiable and documentation must be provided with the application. Verifiable Income includes but is not limited to: Employer Pay Stubs, Signed Employer Offer Letter, Social Security benefits, Pensions, Trust funds, Grants, School Loans, Child Support, Unemployment, Military Benefits, Alimony.

Employer: If currently employed, provide written evidence of regular income sufficient to three times (3x) the rental amount on the property, for the lease term. Three most recent paycheck stubs will be required.

Self-Employment/Unemployed: Must provide the previous year’s personal income tax return and/or the previous three months personal bank statements as evidence of sufficient income. If using bank statements, you must show an available balance of 3x the monthly rental amount for the signed lease term. Example- a monthly rental amount of $1,200.00 for a 12-month lease term must show they have an available balance of at least $43,200.00.

Commission/Tip Employment: Person who holds jobs that are commission only, base salary plus commissions, tips or bonuses will be considered self-employed and must submit the same proof of income as listed above.

If one of the above income terms aren’t met: A Guarantor may be accepted if they meet the minimum rental requirements and the gross monthly household income equals five times (5x) the base rental amount for the property. If the guarantor has a bankruptcy they will be denied. A guarantor must complete a separate application and pay an application fee of $65.00. The application fee is non-refundable. Guarantor must prove a gross monthly income of at least five (5) times the monthly rent and must meet the remaining minimum rental requirements.

The Guarantor must sign the lease agreement and Guarantor documents.

2. Criminal History: The criminal records of all household members over 18 years of age (or as permitted per state and local laws) will be reviewed and evaluated. The evaluation process will include level of the offense and date of disposition. The information provided by our third-party screening agency will determine the outcome of the rental application. Please review the following listed violations as they may adversely affect the approval of the application but are not limited to:

A. Applicants with any of the following felony convictions will be denied approval- murder, capital murder, aggravated kidnapping, sexual assault, aggravated sexual assault, indecency with a child, sexual performance by child, first degree criminal solicitation, compelling prostitution, trafficking of persons, aggravated robbery, burglary if committed with the intent to commit felony sexual assault, aggravated sexual assault, sexual abuse of a child, or prohibited sexual conduct, offenses under Section 481.134(c), (d), (e) or (f ) of the Texas Health and Safety Code (or, such applicable state law, if allowed by law) if it is shown that the offender has been previously convicted of an offense for which punishment was increased under the aforementioned sections, offenses under Section 481.140 of the Texas Health and Safety Code (or similarly classified offenses in jurisdictions outside of Texas) relating to any felony conviction increased in punishment as a result of use of a child in commission of such offenses, and any offense where the offender used or exhibited a deadly weapon during the commission of a felony offense or during immediate flight therefrom.

B. Applicants will be automatically denied if they are currently subject to a registration requirement under Article 62.001, Code of Criminal Procedure, Sex Offender Registration Program (or similar Sex Offender Registration Programs in jurisdictions outside of Texas).

C. Any other felony or Class A misdemeanor convictions other than those set forth in 2(A) are subject to review on a case-by-case basis and may require additional deposits.

3. Rental History: Residency history is required and will be reviewed. All residency history must exhibit no derogatory references. Any debt owed more than $500.00 to any landlord, regardless of date, will result in immediate denial of application regardless of timeframe. If there is debt less than $500.00, an additional deposit may be required if all other minimum rental requirements have been met. A receipt reflecting payment in full to the prior landlord will be accepted in lieu of an additional deposit.

4. Pets: A non-refundable pet fee of $250 per pet will apply. There is a $35.00/monthly pet rent per pet. Registration with a third-party pet screening vendor is required whether you have an animal or not and is mandatory for all animals in the home. All animals are subject to management approval and community policy. https://peakpropertymanagement.petscreening.com/

5. Service Animals: Service animals will be approved upon submission of required verifiable documents to the third-party pet screening vendor. The information may include but is not limited to:

6. Personal Liability Requirement: A minimum of $100,000.00 of Personal Liability insurance cover is required with the Landlord, Peak Property Management & Pinata Rent Inc” must be listed as an “Additional Interest” on the policy with the address: PO Box 660121, Dallas, TX 75266.

Evidence of coverage is required prior to taking possession of the home. It is strongly encouraged that residents obtain a renter’s insurance policy covering losses and/or damages to personal property.

 

Peak Property Management does not discriminate against any person based on race, color, religion, sex, national origin, disability, or family status.

Thank you for choosing Peak Property Management for your new home. By signing this form, you acknowledge that you are fully aware and agree to the terms of the rental criteria for Peak Property Management.