Invest Idaho Management

Rental Criteria

RENTAL HISTORY:
- Need to be able to verify the most recent year (12 month period) of rental history.
- If you're a homeowner you will have a payment history that will reflect on your credit report.
- Co-signers and/or increased deposits may be considered for lack of rental history, foreclosure or short sale.
- Applications may also be denied for damages beyond normal wear and tear, illegal activity on premises and/or reports of non-compliance with previous rental history.
- Any landlord reference that includes 3 or more late payments per calendar year, could result in an increased security deposit.
- Any instance of a security deposit which was not returned due to damage of the rental unit beyond normal cleaning/repairs.
- Any instance of property intent to vacate notice not being given to a landlord and/or a broken lease, may all be cause for denial.

INCOME:
- Applicants 18 and over must be able to prove a combined NET monthly income of at least 2.5 times the monthly rent.
- Roommates must prove their NET income to be at 1.25 times the rent amount EACH.
- Child support and SSI can be counted as income as long as it is verifiable. Unemployment is not considered income.
- Income verification documents should be a copy of 2 months of your most recent pay stubs, your most recent year tax filing returns, or your most recent 3 months of back statements showing consistent deposit of funds that meet income guidelines.
- Business owners need to show proof of individual income as business income does not count as verifiable income. Your company's tax returns are not an acceptable source of proving your individual income.

EVICTIONS/UNLAWFUL DETAINER:
- Eviction history may be considered if applicant(s) submits records that the eviction was dismissed or discharged with a $0 balance and has been resolved within the last 5 years.
- No other collections on record and any debts have been paid.
- No public record notices on credit history.

CREDIT:
- Your credit score must be 600 or higher to be approved as a standard.
- Scores between 550-599 can sometimes be approved with conditions. Applicants may be required to pay an additional deposit equal to one month’s rent or a co-signer and you must have excellent income and rental history.
- Credit score of 549 or lower is an automatic denial.
- Applicants that have a non-existent credit rating may result in denial or require a co-signer.
- Applicants with an open bankruptcy will automatically be denied.
- Applicants with a bankruptcy discharged or dismissed within the past 3 years may be required to pay an additional deposit or 2 month(s) prepaid rent. Bankruptcy cases need to show the balance paid in full or proof of payment plan is in place and agreed upon by all parties in stipulation. If the application is approved, we will require proof of court documents that the case is closed or in compliance.
- All information showing on the credit report is subject to verification, including previous address and place of employment.
- Credit reports supplied by applicants are not accepted.

CO-SIGNERS:
- Co-signers must have a credit score no less than 650.
- Income verification and documents must be at a minimum of five (5) times the monthly rent amount.
- No criminal history.
- No Evictions.

CRIMINAL HISTORY:
- Felonies cannot be violent or predatory in nature and have to be 7 years (seven) removed from any and all affiliated time served, parole, probation, etc. The following offenses are automatic offenses are automatic denials:

-Felony drug distribution and/or manufacturing
-Any Felony that was a violent act against another person
-Sex offender Felony
-Forgery
-Management reserves the right to decline applications at our discretion and local repository resources
will be checked on each applicant.

AUTOMATIC DENIALS:
- Any money owed to a previous landlord or property management company and/or any collection filed by a previous landlord or property management company.
- Incomplete or unverifiable information on rental application.
- Discrepancies between rental application and verified information.
- Any rental history upon which the previous landlord or management refuses to re-rent to the applicant.
- Negative rental history.
- If you owe any money to a utility company (water, trash, sewer, gas, electricity, cable, internet, irrigation).

PROCESSING YOUR APPLICATION:
Applications are usually processed within 1-3 business days, this depends on how quickly your references respond to our inquiries. If request attempts are unsuccessful, Invest Idaho Management will decline your application after 24 hours of the final request.

APPROVED APPLICATION:
If your application is approved, you will have 24 hours to secure the location by paying the non-refundable administration fee. Home rentals will require half the security deposit to be paid up front and pet fee if applicable. If the funds are not paid within 24 hours of approval of application(s), Invest Idaho Management reserves the right to rescind the offer and will start accepting applications on the property from other prospects or candidates. The security deposit must be in the form of a cashier’s check, money order, or paid online through the tenant portal. Once the lease has been signed you can start paying the rent and utilities from the date that you are approved. Should you choose to not occupy the property for any reason, you will be liable for any loss of rent until the unit is re-rented or the completion of the Minimum Term, whichever is less, advertising and marketing costs, utility costs, yard maintenance costs, transportation costs, until the property is re-rented.

TAKING POSSESSION OF A PROPERTY:
The security deposit must be paid on or before your move in date that is established. The 1st month’s rent will be prorated and any additional deposits or fees associated with the terms of your lease must be paid in the form of a cashier’s check, money order, or online via the tenant portal prior to receiving keys/possession. A copy of the renter’s insurance policy and proof of utilities transfer into your name must be submitted 3 days prior to your lease start date.

Rental Requirements

Invest Idaho Management Rental Requirements:

Rental Criteria