Tenant Selection Criteria and Screening Process

FAIR HOUSING

• Blue Crown Properties strictly abides by the Federal, State, and Local Fair Housing Laws and principles of equal opportunity. We do not discriminate on the basis of race, color, religion, national origin, sex, disability, familial status, ancestry, sexual orientation, gender identity or spousal affiliation.

OUR SCREENING PROCESS

• We only accept applications through our online lease application. No outside lease applications will be accepted.

• All applications must be COMPLETE in their entirety and all application fees paid prior to submission for consideration.

• All completed applications are processed on a daily basis (Monday-Friday, excluding Holidays)

• All completed applications for the same property will be submitted for the property owner’s final decision.

FUNDS DUE UPON APPLICATION APPROVAL

• The required funds due upon application approval must be paid before the property is taken off the market.

• FUNDS DUE WITHIN ONE BUSINESS DAY AFTER APPROVAL:

  • You will be required to pay the following electronically through our Tenant Portal within one business day of approval.

    • Security Deposit (amount is calculated based on the average of applicant credit scores)

    • Animal Deposit/Fees (if applicable and amounts are property specific)

    • Lease Admin and Tenant Account Setup Fee: $195.00

• The required funds must be paid electronically on the Tenant Portal via ACH (e-pay) or through our RentMoney solution. RentMoney allows you to pay the required funds in cash at the secure locations of local retailers like WalMart.

• You may include the first full month's rent amount along with the required funds if you wish, however, the rent funds are not required at this time.

• No paper payments or credit card payments will be accepted.

• NOTE: Your move in date must be 7 days away or greater in order to use the ACH e-pay option.

• Payments made by ACH (e-pay) through the Tenant Portal less than 7 days before the move in date will result in a delay in occupancy until the payment clears our account. You will not be allowed to move in until the ACH (e-pay) payment has cleared.

• In extremely rare situations for payments within 7 days of the move in date, a paper payment (cashier's check or money order only) may be accepted to allow you to move in on your move in date. If this arrangement is approved by management, a $50.00 processing fee must be included along with the paper payment.

• The cashier's check or money order for the full amount due including the $50.00 processing fee should be made payable to Blue Crown Properties.

• No personal or business checks will be accepted.

• The property address must be written on the payment.

• The payment must be enclosed in an envelope with Blue Crown Properties legibly written on it.

• The payment must be hand delivered or mailed overnight to our secure drop box located at the UPS Store at 13901 Midway Rd #102-127, Dallas, TX 75244.

  • UPS Store Hours of Operation: M-F 8:00am-6:30pm, Saturday 10:00am-4:00pm, Closed Sunday

• NOTE: The property will remain on the market until the lease has been signed and the required funds have been received.

APPLICANTS MUST REVIEW OUR SELECTION CRITERIA AND PRE-SCREEN THEMSELVES

• We do not pre-screen applications. Applicants are required to pre-screen themselves with the following criteria and will need to meet the requirements below. We encourage you to review the following criteria before applying:

IDENTIFICATION

• A copy of your valid driver’s license or other government issued photo ID is required. Expired forms of identification will not be accepted.

• Be prepared to have a “selfie” picture taken of you while completing the online application to verify your identity matches your ID.

SOCIAL SECURITY NUMBER OR TAX ID NUMBER

• Each applicant must present evidence of a valid Social Security or Tax ID Number for the purpose of obtaining a credit report and matching to a photo ID.

SMOKING POLICY

• All of our properties are non-smoking properties. Smoking is not permitted inside the property, the garage or any outdoor areas of the property.

LEASE START DATE

• We only allow leases to start on weekdays (ideally Monday through Thursday). We strongly discourage Friday move-ins being that items may arise over the weekend in which we won’t be available to assist until the following Monday. No lease start dates can be on a national holiday for the same reason. If the property is vacant, the lease start date can be no later than 30 days from the date your application is approved. Keep in mind that the owner of your property may require you to start your lease earlier than 30 days in order to be approved.

LEASE TERM

• Our leases are typically between 12-24 months in length. It is extremely rare for one of our clients to approve a lease of less than 12 months. Unless there are unique circumstances/instructions from the property owner, we do not allow leases to expire in the months of September, October, November, December, January or February.

APPLICANT(S) VIEWING OF PROPERTY REQUIREMENTS

• It is strongly recommended that ALL applicants personally view the property before applying. You will be required to sign a “Sight Unseen Waiver” if any of the applicants fail to personally view the property.

APPROVAL TIMELINE

• It usually takes up to 3-4 business days to process rental applications, however, it can take longer if there are multiple applicants in your household or we have a hard time reaching your references. It is strongly recommended that you notify your prior landlords that we will be contacting them to verify your rental history. Lack of verifiable rental history may result in additional security deposit requirements.

• Please note that we do not process incomplete applications. We consider an application incomplete until ALL household members 18 years of age or older have submitted complete applications. If you fail to provide all required information and/or documentation, your application is considered incomplete and the screening process cannot begin.

PETS

• We manage properties for property owners from all over the world. Most of the property owners we represent will consider pets on a case by case basis but some owners do not allow pets. Please be sure to check each individual listing to ensure pets are accepted and the pet deposit requirements for that specific property before applying.

• As part of your application, all applicants must upload two photos of EACH pet that will reside on the property. The first photo must show a full body shot of each pet. The second photo must show both the applicant AND the animal in the picture together.

PET RESTRICTIONS:

• No puppies. Dogs must be 24 months of age or older.

• Cats must be at least 12 months of age or older. Male cats must be neutered.

• All pets must be licensed and current on vaccinations.

• No ferrets, reptiles, or rodents of any kind are permitted.

• There is a two pet maximum on almost all properties we manage.

• Keep in mind that some Homeowner Associations may have limits on the number of pets, type of pets, or maximum weight of pets. Check each listing for any possible HOA restrictions.

QUALIFICATION REQUIREMENTS:

• Age: Each person 18 years of age or older must complete an application and pay the application fee.

  • Tenantsare financially responsible for the lease and must be 18 years of age or older.

  • Occupantsare listed on the lease as those that are authorized to reside in the property but do not sign the lease and are not financially responsible for any payments due under the lease agreement.

  • Occupants under 18 years of age will be listed on the lease and must be disclosed along with their date of birth.

• Income: Verifiable monthly nethousehold income must be equal to or greater than two and a half (2.5) times the monthly rent amount.

  • Household income for allapplicants will be combined.

  • Any verification fees required by an employer must be paid by the applicant.

  • Our income verification solution (Verifast) that is built into our screening application will require each applicant to link their bank account to the application. This eliminates the need for paystubs or bank statements and is a fraud prevention tool.

    • In the extremely rare scenario where your bank account cannot be connected to your application, the manual processing and verification of income will delay the processing of your application and you run the risk of losing the property to another qualified applicant.

    • Proof of Income Requirements

      • W-2 Employment

        • You will be required to link your bank account activity to the screening application when submitting your online application in order for us to confirm your payroll deposits.

        • Provide at least three current, consecutive paystubs.

        • If you are starting a new job or do not yet have three paystubs, provide all paystubs received as well as a signed copy of your offer letter. Employer will need to confirm the Gross income. The offer letter must be without any pending conditions. If the letter has pending requirements, the employer must contact us directly to confirm all contingencies have been met.

      • 1099 Independent Contractors or Business Owners

        • You will be required to link your personalbank account activity to the screening application when submitting your online application in order for us to confirm your payroll deposits. You may link a businessbank account if you provide written proof of sole proprietorship.

        • Provide at least six (6) current, consecutive months of bank statements showing itemized deposits froma personal account only.

        • If you only have a business account or your income is shown as account transfers in your personal checking account, you may provide six (6) months of business account bank statements along with proof of sole proprietorship.

      • Social Security

        • For applicants with Social Security, provide an official award letter from the SSI (or other government benefit program) reflecting monthly payments.

      • Child Support

        • For applicants with child support, EACH of the following is required:

          • Documentation proving your child support is court ordered.

          • Six (6) months of current, consecutive months of payment history via bank statements or from your child support website

          • Official documentation verifying how long you will continue to receive child support

      • Assets

        • For applicants with insufficient income requirements that wish to have savings or investments considered, we will require the following:

          • Three (3) current, consecutive months of statements for your asset account showing the ending balance. These must be full month statements.

          • If these assets are in your regular checking account, you will need to provide the last six (6) full monthly bank statements

• Your statements must reflect assets valued at 35 times the monthly rent.

• Applicants wishing to have assets considered in lieu of sufficient income will be required to pay an additional security deposit. This amount will be double the security deposit required based upon the combined credit scores average of all applicants outlined in the Credit section.

• Alimony

  • For applicants with alimony, we will require each of the following:

    • Court-ordered documentation proving your alimony.

    • Six (6) current, consecutive months of payment history via bank statements or from your alimony website

    • Official documentation verifying how long you will continue to receive child support

• Rent Paid by an Employer or 3rd Party

  • For applicants whose rent will be paid by an employer or a 3rd party, the applicant must still provide verifiable income documentation equal to or greater than three (3) times the monthly rental amount as outlined above

  • We will accept payments from an employer or a third party but will not list an employer as a tenant on a lease agreement.

• Outside financial support from friends and family

  • For applicants receiving money from these sources, the individual providing support will need to apply as a Co-Signer and meet the Co-Signer requirements for approval.

• Credit: A favorable credit history and no open bankruptcies.

  • A TransUnion FICO Score 9 credit report and score will be obtained on all applicants.

  • A letter grade ranging from A+ to F will be assigned based upon which credit score range the applicant’s credit score falls within.

  • All tenant credit scores will be combined and averaged. The average score (and correlating letter grade for the average score) will determine the required security deposit.

  • NOTE: The credit scores being utilized are FICO Score 9 and are not VantageScore.

  • The Security Deposit required is based on the following:

    • Average Score: 700-850 (Grades A+, A, B+) - 1x Rent Amount

    • Average Score: 600-699 (Grades B, C+) - 1.5x Rent Amount

    • Average Score: 550-599 (Grade C) - 2x Rent Amount

    • Average Score: 549 or below (Grades D, F) - Denial of Application

    • Average Score: 0 or NA (i.e. no credit) - 3x Rent Amount

  • A Co-Signer may be eligible for increasing your Average Score.

• ResidenceHistory(RentalorHomeownership): No previous evictions or unpaid landlord charges.

  • Verifiable residence history for at least three (3) years whether you own or rent.

  • If anyof the tenants have no prior rental history or verifiable mortgage, a qualified Co-Signer will be required.

  • Applicants will be required to provide the names (Landlord or Property Management Company), mailing addresses, email addresses, and phone number(s) along with the dates of occupancy.

    • Rental history must be verified from unbiased sources.

  • Home ownership will be verified from a current credit report.

• Co-Signers: Any Co-Signers will be required to complete an application and pay the required application fee.

  • We do NOT accept Guarantors. The lease must be signed by a Co-Signer.

  • A Co-Signer can only be added to act as a responsible party and provide documented, verifiable proof of income in order to comply with the minimum income-to-rent criteria required and/or to raise the average credit score of the applicants.

  • An applicant can only request to add a Co-Signer if ALL other criteria have been met.

  • Co-Signers must understand that they are responsible for the entire lease and not just for one applicant. If there are multiple Co-Signers, each are jointly and severally liable for the entire lease.

  • To be approved as a qualified Co-Signer, the Co-Signer:

    • must be a resident of Texas

    • have a minimum credit score of 700 with no judgments, collections, or charge off accounts within the past 24 months

    • provide verifiable proof of netmonthly income that is a minimum of five (5) times the monthly rent

    • will be required to sign the lease

• CriminalScreening: No felony convictions within the past seven (7) years by any household members (Tenants and Occupants)

  • A criminal background check will be conducted for all Tenants and Occupants eighteen (18) years of age or older.

  • Any person required to register as a sex offender will be denied.

  • Any person convicted of the illegal manufacture or distribution of a controlled substance will be denied.

  • A criminal background check reveals no convictions that could lead to safety issues for the property or surrounding residents.