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Real Property Management Assurance Application Proccess

Rental Criteria

The non-refundable application fee is $55 for each adult 18+ of age in the household. We run applications on a first-come, first-serves basis. Once we receive your complete application, we will inform you within 48 hours about your position in the application queue.  Your application will be considered complete only when all members in your household that are 18+ of age submitted their applications and support document. Incomplete applications will not be granted a spot in the application queue.

Application Criteria

  • Applicants that make any derogatory or offensive comments or act in a threatening, combative, intoxicated, or disorderly manner during any phase of the leasing process, including showing, scheduling, and communication by any means, will immediately result in denial without refunding application fees.
  1. Any applicant providing inaccurate or falsified information, currently using illegal drugs, or failing to provide verifiable proof of income or adequate government-issued photo identification that allows the agent to pull necessary credit/background information will result in denial of the application.
  2. Any individual whose tenancy may constitute a direct threat to the health and safety of any individual, the premises, or the property of others, will be denied residency.
  3. Our occupancy policy is a total of two persons per bedroom plus one more person (e.g., a three-bedroom unit would have an Occupancy Policy of 7 persons). The agent has the right to change this policy based on factors like size and bedroom configuration.

Income Criteria

  1. For property outside of the City of Portland, combined monthly gross income must be from a verified source and must be at least 2.5 – 3 times the stated rent.
  2. For properties within the City of Portland, combined monthly gross income must be from a verified source and:
    1. If the monthly rent amount is less than 80% of the median family income (as published by the Portland Housing Bureau), at least two and a half times, rent is required.
    2. If the monthly rent amount is greater than 80% of the median family income (as published by the Portland Housing Bureau), at least two times stated rent is required.
  3. Applicants with a combined monthly income from a verified source between two and two and a half times stated rent will be offered Conditional Approval (unless the home qualifies for 2.2 above). Applicants with a combined monthly income from a verified source less than two times the stated rent will result in denial.
  4. Applicants that use local, state, or federal housing assistance as a source of income will have the income level requirement weighed against the rent amount reduced by the assistance provided to the applicants.

Rental History Criteria

  1. Twenty-four months of verifiable rental history from a current unrelated, third-party landlord or homeownership is required. Applicants with less than twenty-four months and greater than eighteen months of the same will be offered Conditional Approval.
  2. Three or more notices for nonpayment of rent reported instances of late rent or dishonored checks within the past twelve months will result in denial. One or two cases of the same will result in being offered Conditional Approval.
  3. Rental history reflecting any past due and unpaid balances to the landlord will result in denial.
  4. Rental history reflecting any notices for noise disturbance or material violations of the lease within the last twelve months will result in denial.
  5. Applicants with pending evictions or eviction/foreclosures within the past three years will be denied. Those with evictions/foreclosures older than three years but within five years will be offered Conditional Approval.
  6. 5-year of Eviction-free is required. Evictions that resulted in a dismissal or judgment for the applicant will result in denial.

Credit Criteria

  1. One to Three items that are 90 days past due or greater, in collections, charge offs, repossessions, or garnishments on credit history may result in denial or might be considered to receive Conditional Approval. Three or more of the same or having a combined amount greater than $1000 in judgments, collections, or lines will result in denial.
  2. Applicants with a credit score under 625 will result in denial; applicants with a credit score between 625 to 675 will be considered for Conditional Approval.
  3. Applicants with active bankruptcy will be denied. Applicants with a bankruptcy within the previous three years will be denied. Applicants with bankruptcies older than two years but within five years will be offered Conditional Approval.

Criminal Conviction Criteria

In the case that an applicant has a conviction of any crime that is of a nature that would adversely affect the landlord’s property or a tenant or the health, safety, or right of peaceful enjoyment of the premises of residents, the landlord or the landlord’s agent will be taken into consideration. Owner/Agent will not consider a previous arrest that did not result in a Conviction or expunged records. A single conviction for any of the following will be grounds for denial of the Rental Application:

  1. A drug-related crime;
  2. A person crime;
  3. A sex offense;
  4. A crime involving financial fraud, including identity theft and forgery