Real Estate - Legacy Property Management

Rental Criteria

Legacy Property Management upholds strict criteria for selecting tenants for our clients' properties. Committed to placing only the most qualified tenants, our licensed real estate professionals conduct comprehensive background checks on every applicant. This process ensures that your property is rented to responsible and reliable tenants, providing you with peace of mind.

01. INCOME AND EMPLOYMENT CRITERIA

✓ Your gross monthly income must be 3 times the gross monthly rent

✓ Employment must be verifiable for the past 2 years

✓ Copy of signed tax return, paycheck stubs, W-2, or other documents to prove your ability to pay rent (if you're unemployed, retired, or self-employed)

✓ Copy of Leave and Earnings Statement (LES) - if you're a military member
02. RESIDENCY AND BACKGROUND CRITERIA

✓ Residency history for the past 2 years must be verifiable

✓ We will obtain a copy of your credit history - you cannot supply this to us

✓There may be no more than 2 tenants per bedroom
03. REASONS FOR DENIAL OF AN APPLICANT

✓ Application with false, inaccurate, or incomplete information

✓ Litigations involving rental residency or past evictions

✓ Tax liens, unpaid child support

✓ Current bankruptcy
04. REASONS FOR DENYING APPLICANTS OR REQUESTING ADDITIONAL FEES

✓ Unverifiable or insufficient income

✓ A large amount of late or NSF rent payments

✓ Broken leases, property damages, and unpaid rent

✓ Mortgage not current, foreclosures

✓ Credit score

✓ Excessive credit collection balances, slow pays
05. GUARANTOR OR COSIGNER

If you are the guarantor or cosigner to a tenant, you must provide proof of income that shows your income is 5 times the monthly rent. Your credit score must also be a minimum of 700. Finally, we require that you provide 12 months of verifiable rent or mortgage history.

All of your credit accounts must be in good standing in order to be considered, and foreclosure or tax liens will not be accepted.

Lease Application Procedure

01. THE APPLICATION PROCESS

Legacy Property Management makes the rental application process simple and efficient. Once all verifications are completed and application fees are paid, we typically present the application to the property owner within one business day. Our goal is to fill vacancies quickly with qualified tenants while ensuring a smooth experience for all parties involved.

02. THE ACCEPTANCE PROCESS

After a lease application is accepted, the prospective tenant has until 5:00 PM the following business day to provide us with the security deposit. If this deadline is missed, the tenant selection process will begin again.

03. ARE YOU READY TO APPLY FOR A LEASE?

If you're ready to apply for a lease, our application is available online. If you're curious about what one of our leases looks like, here's a sample lease for you. When you're ready to move forward, call us with any questions. Our licensed real estate agents will provide premium customer service, and they have the necessary expertise to answer any questions you might have about our process, whether you're a prospective tenant or a property owner.

04. FORMAL LEASE SIGNING

Once your security deposit is paid and you're accepted as a tenant, you'll be asked to come to our office for a formal lease signing. We'll contact you to schedule a time on the first day of the lease. We'll meet with you for 30-45 minutes to review the lease and answer any of your questions or concerns.

Note: As a tenant, you're required to provide a government-issued photo ID at the lease signing.

Renter’s Insurance

It is strongly recommended that you purchase renter's insurance to cover any loss of your personal property and possible liability in case of accidents.

The owner's insurance on the property only covers the dwelling; it does not cover your personal belongings. You should obtain renter's insurance that becomes effective on the date that you take possession of the property and maintain the policy as long as you occupy the premises.

Renter’s Insurance protects your personal belongings like clothes, furniture, and electronics. It also protects you with liability coverage, and it does it all for less than you might think.

Feel confident that all you've worked for is not at risk. Renter's insurance policy protects you and your family against bodily injury and property damage claims and litigation up to the limits that you select.

To request a quote for Personal Contents-Liability Insurance from Legacy Property Management, contact our office. We will refer you to a local agent.

So, why do you need Renter's Insurance?

✓ To protect yourself from liability.
✓ To protect your possessions and to replace them in the event of a loss.
✓ To protect yourself financially.
✓ To provide you with temporary living coverage if your residence is damaged.
✓ To ensure you will have someone on your side when the unexpected happens.

The owner's insurance does not cover your personal property, food spoilage, or costs associated with loss of use of the property. You should always verify what your renter's insurance policy covers.