Rental Criteria for Potential Tenants
At Sound Property Management Group, we believe that finding reliable, responsible, and trustworthy tenants is crucial for maintaining a harmonious and thriving community within our rental properties. To ensure a hassle-free rental experience for both our tenants and property owners, we have established a comprehensive set of rental criteria. These criteria serve as guidelines to evaluate potential tenants and determine their suitability for our properties.
General Requirements
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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 Sound Property Management Group.
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Applicant must be on time for showing appointment or reschedule with a timely call (failure to do so results in denial of the application.)
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Must submit a fully completed application with no material misstatements or omissions for every occupant (over 18 years of age or emancipated minor). Groups of more than one applicant will not be considered until the applications from all members of the group are received in full.
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Positive government issued ID for all adult (over 18 years of age or emancipated minor) occupants. (Failure to provide ID results in denial of the application.)
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Any other information provided by the applicant (anticipated length of tenancy, tenancy commencement date, etc.) will be taken in 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 be taken into consideration.
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Pursuant to RCW 59.18.257 all correspondence will result in pre-screening of potential tenant(s).
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An ‘Intent to Rent’ and sample lease will be sent via email if an application is approved. The applicant(s) has 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.
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Each occupant 18 and older must meet the credit and landlord criteria on their own. If applying in a group, income may be combined to meet the 2.5x income requirement. Failure to meet the criteria may result in the denial of the application, need for a qualified guarantor, or payment of additional funds.
For Seattle rentals:
For everywhere else:
1. Income and Employment Stability
We require prospective tenants to have a verifiable and stable source of income. Generally, we seek tenants whose gross monthly income is at least 2.5 times the monthly rent. Documentation required to verify income may include pay stubs, tax returns, bank statements, or employment verification. Tenants must have a consistent employment history, preferably with the same employer for at least six months.
Other Income Requirements Include:
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Proof of verifiable employment and/or source of income
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Income must be 2.5 times the gross rental amount
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W-2 Employees
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Provide the two (2) most recent paystubs
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Each stub must include employer name, employee name, and date of pay period.
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Offer letter from prospective employer
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Must be on employer letterhead, include applicant’s name, compensation summary, and signed by all parties
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Self Employed/Retired
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Provide the three (3) most recent bank statements, including all pages, and previous year’s Income tax statement
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Each statement must show the name of bank, account holder’s name, statement date, summary of deposits, and balance
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Proof of alternative source of income:
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May be from a lawful verifiable source other than wages, salaries, or other compensation for employment including, but not limited to: Section 8 vouchers, social security benefits, unemployment benefits, charity programs, maintenance or child support, and/or any federal, state, local government, private or nonprofit administered benefit program.
2. Creditworthiness
Sound creditworthiness is an essential criterion when evaluating potential tenants. A credit report will be obtained to assess an applicant’s payment history, outstanding debts, and overall financial responsibility. We generally prefer a credit score of 650 or above. However, exceptions can be made in certain circumstances, with additional security deposits or co-signers.
Other preferred criteria include:
(credit report via a third-party Consumer reporting Agency listed on the on-line application through our website)
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No rental related collections
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Collections, outside of rental related collections, totaling $250 or more may be grounds for denial
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More than 15% of derogatory accounts may be grounds for denial
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No Unlawful Detainer action or eviction history
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Portable screening reports (previous tenant screening reports) will not be accepted
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Student and medical debt are excluded from the above credit requirements
3. Rental History
A prospective tenant’s rental history plays a critical role in helping us gauge their suitability. We conduct thorough background checks to verify previous rental references. We seek tenants who have a record of paying rent on time, respecting property rules and regulations, and maintaining a clean and favorable rental history. Any previous eviction history may disqualify an applicant.
We also seek Rental References:
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Two (2) positive landlord references (i.e. timely rent payment, no damage in excess of normal wear and tear, no documented rule violations, timely issuance of notices of intent to vacate and compliance therewith.) from within the last five (5) years. References must have a valid phone number and email address.
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We may deny the application and move on to the next if the previous landlord does not respond within 48 hours of inquiry.
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If the applicant owned a home and cannot provide rental references proven mortgage payments will be looked at.
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If an applicant has no landlord references, a qualified guarantor may be required.
4. Criminal Background Check
Ensuring the safety and well-being of our tenants and communities is paramount to us. Therefore, we conduct criminal background checks on all applicants. While certain criminal records may not disqualify an applicant, we evaluate each case individually based on its nature, severity, and recency. We prioritize the safety and security of our rental communities.
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Criminal history will be considered on a case-by-case basis.
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Public records regarding civil court records may be grounds for denial. Registration as an adult sex offender may be grounds for denial.
5. Occupancy Guidelines
To maintain the quality of life for all residents, we set occupancy guidelines based on local housing regulations, property size, and layout. Generally, we allow a maximum of two occupants per bedroom. Exceptions may be made for immediate family members as defined by law. Unauthorized subletting or overcrowding is strictly prohibited.
6. Pet Policy
As pet lovers ourselves, we understand the importance of accommodating our tenants' furry friends. However, we have specific guidelines and restrictions to ensure the comfort and safety of all residents. Certain rental properties have restrictions on pet breeds, sizes, or the number of pets allowed. Additionally, a separate pet agreement and pet deposit may be required. By establishing these rental criteria, we aim to create a pleasant and secure environment for our tenants. We believe that these guidelines not only safeguard the interests of our property owners but also assist in cultivating a positive and respectful community for all residents. If you are interested in applying to be a tenant at Sound Property Management Group, we encourage you to review these criteria thoroughly and submit your application accordingly.
