What are the requirements?

Daisy Lane Property Management has set forth several criteria for prospective tenants. These include

- Applicants must have a monthly income that is at least three times the monthly rent.

- No evictions within the past five years.

- A minimum of six months of employment history is required, or a letter from the employer stating the hourly wage and estimated weekly hours.

- A minimum credit score of 500 is required.

- Applicants must pass a criminal background check, with no felony convictions or sex offender status.

. These requirements are designed to ensure a stable and secure rental environment for both tenants and the property management company.

How long is my application valid for?

All applications will remain on file for 90 days. If the property that you originally applied for is rented before you receive approval or can place a Hold Fee, you may notify our office of your interest in a different available property, and we can transfer your application for consideration. Please note that all applications must be reviewed once transferred to a new property, even if the application was previously approved for a different property. This additional review period is generally 1-2 business days.

What is the application fee and what does it cover?

Each application is $40. This fee is used to cover the cost of obtaining credit, criminal, and rental history reports for each applicant.

What is a co-signer, and do I need one?

A cosigner is someone who signs a lease agreement alongside the primary tenant, agreeing to take on financial responsibility for the rent payments and other obligations if the primary tenant is unable to fulfill them. Typically, a cosigner is needed when the primary tenant does not meet certain rental criteria, such as insufficient income, poor credit history, or limited rental history.

Having a cosigner provides the landlord with an added layer of security, as it increases the likelihood that rent will be paid on time and the property will be well-maintained. For tenants, having a cosigner can help them secure a rental property that they might not have been able to obtain on their own due to their financial or credit situation. However, it's essential for both the primary tenant and the cosigner to understand the legal and financial implications of cosigning a lease before entering into such an agreement.