Rental Policies
Renting just got easier with First Rate Property Management. Your search is over! We are confident that we have just the rental you've been looking for. First Rate Property Management, is the exclusive agent and representative of the property owner and does not, in any respect, have any fiduciary or agency responsibilities to the applicant. All federal, state, and local laws are followed and each application is processed without regard to the race, color, religion, sex, handicap, familial status, national origin, sexual orientation or gender identity of applicant. Our team of professionals are regularly trained and educated on the latest local, state and federal statutes pertaining to rental regulations.
General
Applications must meet the requirements of First Rate Property Managements Guideline. Each applicant 18 years of age and older must complete a separate application and pay the application fee of $45 per individual, which is non-refundable.
Processing
Each application must be completed, signed, and fee paid before processed. Additional applications will continue to be accepted until the approved applicant has signed the lease and paid the security deposit. A copy of any valid federal- or state-issued photo ID is required and will become part of the completed application.
Contingency Lease
If at the time of the showing, the applicant wishes to rent the premises, applicant can pay the application fee and the security deposit, and sign the rental agreement as a contingency lease (the unit is yours unless you are denied via the application process). The contingency is that First Rate Property Management needs to complete the application process to include: income verification, credit report, criminal background, and rental history verification. If tenant fails to meet the criteria, the applicant is denied and the security deposit is refunded.
Income
Application may be denied unless rent is no more than 40% of verifiable household income.
Credit
All information showing on the credit report is subject to verification, including previous address and place of employment. Some items looked at are: late payments, tax liens, charge-offs, repossessions, judgments and discharged bankruptcies. Any applicant who has an open bankruptcy will automatically be denied, with the exception of applicants that have poor credit caused solely by a foreclosure of their home. Applicant must have proper documentation showing that the payment had significantly increased and was the cause of the poor credit. Depending upon the FICO score, applicants may require an Approved CoSigner or Larger Deposit. A FICO score under 650 will require an Approved Co-signer only. A FICO score below 475 will result in an automatic denial. A qualified co-signer must have a FICO score of 650 or higher.
Criminal Background
Applicants may not be accepted for a felony conviction for which less than three (3) years have passed from sentence release date to date of rental application. Felony convictions can be cause for denial; however, per federal regulations, drug- and alcohol-use felonies can be waived with proper documentation. Regardless of conviction date, no applicant with a felony conviction for an act of violence, sex crime, or illegal manufacturing or distribution of drugs will be accepted.
Rental History
Applicant must have good rental references unless applicant has just sold their home. Relatives are not acceptable as rental references. Application may be denied for evictions, damages beyond normal wear and tear, illegal activity on premises, refusal to re-rent by previous landlord or a balance still owed to previous landlord.
Pet Policy
Due to insurance costs and limitations, FRPM does not allow the following breeds of pets in any of our properties: Pit bulls, Rottweilers, Presa Canario, German Shepherds, Huskies, Malamutes, Dobermans, Chowchows, Akitas, Staffordshire Terriers, Karelian Bear Dog, Dingos, wolves, and any hybrid or mixed breed of one of the aforementioned breeds. Additionally, no poisonous or exotic animals, such as tarantulas, piranhas, snakes, iguanas, ferrets, skunks, Raccoons, rats, or squirrels shall be allowed in or on the Premises..
If the property owner agrees to allow a pet, applicant will pay an additional non-refundable pet fee (usually $100) and a pet-charge of $25 per pet will be assessed each month, due with that month's rental payment. Cats that are pets must be spayed or neutered. No pets may be a puppy or kitten. Companion and support animals are exempt from any of the above requirements and fees.
Security Deposit
The security deposit amount varies from property to property and must be paid in advance.
Short-Term Leases
With permission from the owner short-term leases may be accepted. If the owner approves a short term lease there is a three-month minimum and a monthly assessment to the standard rent of $25 or 5% of the rent, whichever is greater.
Condition
We believe we have a higher than normal standard in the preparation of our rental units, but our standards may or may not be equivalent to your standards. If you see something that you don't like, or something that you would like added, please make your request during the application process, we will gladly present it to the property owner. If the property owner grants our request, the modification will be made prior to you taking occupancy or otherwise annotated on the rental agreement.
Showings
Please email us at Info@FRPMrentals.com or phone us at (208) 321-1900. We will gladly work around your schedule. We apologize in advance, but for the safety of our team, no showings will be made after dark.
Lease Signing
Once you are approved, you will be notified by phone and we will schedule a lease signing appointment. All approved applicants must sign the rental agreement.
Rents
First Rate Property Management chooses rents based on current market conditions and instructions from the property owner. If our competition has a comparable rental for less, please let our leasing agent know. We will do everything we can to match or beat it.
