Welcome to VIP Properties Management

The following information will be accessed as part of the screening of any application for tenancy: 

General Requirements

 

• No application will be accepted until all potential renters in your party have seen and completed a walkthrough of the property with a representative of VIP Properties Management Ltd.
• Applicants must be punctual for showing appointments or reschedule with a timely call (failure to do so results in denial of the application.)
• Every occupant (over 18 years of age or emancipated minor) must submit a fully completed application with no material misstatements or omissions. Groups of more than one applicant will not be considered until the applications from all members of the group are received in full. 
• Positive government-issued ID for all adults (over 18 years of age or emancipated minor) occupants is required. (Failure to provide ID results in denial of the application.) 
• Any other information provided by the applicant (anticipated length of tenancy, tenancy commencement date, etc.) will be taken into consideration. Any offers or proposals an applicant may choose to make (additional rent or deposit, extended lease term, qualified guarantors, qualified co-signers, etc.) will also be considered.
• All correspondence will result in pre-screening of potential tenant(s).
• An ‘Intent to Rent’ and sample lease will be sent via email if an application is approved. The applicant(s) have 48 hours to accept and sign the Intent to Rent, pay a sum equal to one month’s gross rent, and view the sample lease. If the applicant(s) does not sign, pay the funds, and review the sample lease, the application will be denied. 
• Each occupant 18 and older must meet the credit and landlord criteria individually. If applying in a group, income may be combined to meet the 2.5x income requirement. Failure to meet the criteria may result in application denial, the need for a qualified guarantor, or additional payment of funds. 

 

Credit Requirement (credit report obtained through a third-party consumer reporting agency)

 

• A positive credit history should include: 
• No record of rental-related collections
• Collections, excluding those related to rentals, totaling $250 or more may lead to application denial
• No more than 15% of derogatory accounts
• No record of Unlawful Detainer actions or evictions
• Portable screening reports (previous tenant screenings) will not be accepted
• Student and medical debts are not considered in the credit assessment

 

Income Requirements

 

• Proof of verifiable employment and/or source of income
• Income must be 2.5 times the gross rental amount
• Provide the at least one most recent paystubs
• Each stub must include employer name, employee name, and date of pay period.
• Offer letter from prospective employer
  
• Must be on employer letterhead, include applicant’s name, compensation summary, and signed by all parties
  
• Self Employed/Retired
• Provide the at least three most recent month bank statement(s), including all pages, and previous year’s Income tax statement
• Each statement must show the name of bank, account holder’s name, statement date, summary of deposits, and balance
• Proof of alternative source of income:
• May be from a lawful verifiable source other than wages, salaries, or other compensation for employment including, but not limited to: Social security benefits, unemployment benefits, charity programs, maintenance or child support, and/or any federal, state, local government, private or nonprofit administered benefit program.

 

Rental References

 

• At Least one positive landlord reference within the last five years are required. These references should demonstrate timely rent payment, no damage beyond normal wear and tear, no documented rule violations, and compliance with notices of intent to vacate. Each reference must include a valid phone number and email address. 
• If the previous landlord does not respond within 48 hours of inquiry, we may proceed with the next application. 
• For applicants who owned a home and cannot provide rental references, evidence of consistent mortgage payments will be considered. 
• In cases where an applicant lacks landlord references, a qualified guarantor may be required or other guarante conditions. 

 

The following may result in immediate denial of an application:

 

• False, incorrect or misleading information.
• Threatening or abusive behavior towards a VIP Properties Management employee, agent or contractor.