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Applicants

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Birmingham Homes for Rent

 

Frequently Asked Questions- Applicants

What is your rental application process?


We perform a credit check, criminal background check, previous rental history verification (this must be verifiable by a third party; family & friends are not an acceptable form of rental history verification), and income verification (2 of your most recent paystubs must be provided).



What qualifications do I have to meet to be approved?


In general an applicant must make 3 times the monthly rent in income (gross income) on a monthly basis, rental history must be good (monthly payments made on time, lease fulfilled, no damages to the home) and verifiable by a third party, and criminal background check must be clear of felonies.



What credit score do we require?


We do not base approval on a credit score. We look at individual accounts on your credit and the payment history on those accounts.



Are Co-signers allowed?


Co-signers are allowed on a case-by-case basis.

If I have a Bankruptcy or Foreclosure, can I still get approved?


For a Chapter 13 Bankruptcy, an applicant must be at least 12 months into Chapter 13 payments. For a Chapter 7 Bankruptcy, an applicant must be discharged for at least 6 months.
If an applicant has a Foreclosure or is currently going through a foreclosure, their approval will be based off of any rental history they may have, other accounts on their credit report, income, and how long they owned the home that was foreclosed.

Is there an Application Fee?

Yes. $60 per application. ALL adults (19 years and older) that will be living in the home must fill out an application.



Will an application secure the home for which I am applying for?


No. An application will not secure the home for which you are applying. The security deposit (typically equal to one months’ rent) secures the home. The security deposit can be paid at the same time your application is submitted and will hold the home for up to 3 weeks before you move in.

How do I secure a home that I am interested in renting?

An applicant can secure a home that they are interested in renting by paying the security deposit on the home. The security deposit is typically equal to one months’ rent. Any adult that is going to live in the home must apply by midnight of the same day the security deposit is placed. If not, the home will go back on the market, and the security deposit will be placed on hold. If ARM does not have the required documentation to complete the application process, the application will be placed on hold and the home will go back on the market.

How long does my Security Deposit secure the home?

Once the Security Deposit is paid you have 3 weeks to take possession (move into the home). If possession of the home is not taken within 3 weeks of submitting the Security Deposit, the Security Deposit is forfeited and the home is placed back on the rental market.



Is my Security Deposit refundable?

The Security Deposit is refundable at the end of your lease term if you move in within the 3 week timeframe and fulfill your lease agreement. *If the security deposit is submitted with your rental application and your rental application is denied, the security deposit is refunded to you.

If I cancel my move in after I have paid my security deposit do I get my security deposit back?

There is a 48 hour cancellation period from the date you submit your security deposit. If you cancel your move in within the 48 hour cancellation period, then your security deposit will be refunded to you. If you cancel after the 48 hour cancellation period, your security deposit becomes nonrefundable.



Is there a Pet Fee?

Yes. If the home is a pet friendly home the normal pet fee is $300. The Pet Fee may change due to the number or size of pets. Please let your agent know how many pets you have and the breed (if known) so that our team can make accommodations accordingly.



Who has to sign the lease agreement?


ALL adults (19 years and older) that will be living in the home must sign the lease agreement. No exceptions.



How long of a lease do I have to sign?

A typical lease agreement is 12 months. Longer and shorter lease terms can be negotiated. Please let your agent know if you are interested in a longer or shorter term lease so that our team can make accommodations accordingly.

About Us
2084 Valleydale Road
Birmingham, AL 35244
T:205-824-5008
F:205-824-5084
E:contactus@alabamarentalmanagers.com

Interested in leasing one of our rental properties? Learn more here.