Rental Policies

Renting just got easier with First Rate Property Management. Your search is over! We are confident that we have just the rental you've been looking for. First Rate Property Management, is the exclusive agent and representative of the property owner and does not, in any respect, have any fiduciary or agency responsibilities to the applicant. All federal, state, and local laws are followed and each application is processed without regard to the race, color, religion, sex, handicap, familial status, national origin, sexual orientation or gender identity of applicant. Our team of professionals are regularly trained and educated on the latest local, state and federal statutes pertaining to rental regulations.

General

Applications must meet the requirements of First Rate Property Managements Guideline. Each applicant 18 years of age and older must complete a separate application.

Processing

Each application must be completed and signed. Additional applications will continue to be accepted until the approved applicant has signed the lease and paid the security deposit. A copy of any valid federal- or state-issued photo ID is required and will become part of the completed application.

Contingency Lease

If at the time of the showing, the applicant wishes to rent the premises, applicant can submit their application and pay the security deposit once income and credit approved, and sign the rental agreement as a contingency lease (the unit is yours unless you are denied via the application process). The contingency is that First Rate Property Management needs to complete the application process to include: income verification, credit report, criminal background, and rental history verification. If tenant fails to meet the criteria, the applicant is denied and the security deposit is refunded.

Income

Application may be denied if rent exceeds 40% of verifiable household income. Please submit your last four paystubs with this application if you are employed or tax returns if you are self-employed. If you are re-locating from out of the area, we will need verifiable documentation without any contingencies to show you have verifiable income once you relocate. If you work from home, we will need a verifiable document stating your employment is fully remote. Student loans or financial aid documents need to be provided to show the current year's semester stipend and upcoming semesters. Failure to provide income verification will cause a denial of tenancy. If you rely on income from other sources, such as social security, welfare, child support, etc, please provide documentation to verify this income at the time you submit your application. Bank statements are not accepted as verifiable recurring income.

Credit

All information showing on the credit report is subject to verification, including previous address and place of employment. Some items looked at are: late payments, tax liens, charge-offs, repossessions, judgments and discharged bankruptcies. Any applicant who has an open bankruptcy will automatically be denied, with the exception of applicants that have poor credit caused solely by a foreclosure of their home. Applicant must have proper documentation showing that the payment had significantly increased and was the cause of the poor credit. Depending upon the CreditRetriever score, applicants may require an Approved CoSigner. A CreditRetriever score under 650 will require an Approved Co-signer only. A CreditRetriever score below 475 will result in an automatic denial. A qualified co-signer must have a CreditRetriever score of 650 or higher.

Criminal Background

Applicants may not be accepted for convictions for which less than three (3) years have passed from sentence release date to date of rental application. Determinations as to criminal screening will be made on a case-by-case basis and based on several factors and information. Regardless of conviction date, an applicant with a conviction for an act of violence, sex crime, or illegal manufacturing or distribution of drugs will NOT be accepted. Per federal regulations, special accommodations may be requested for certain drug and/or alcohol related convictions.

Rental History

Applicant must have good rental references unless applicant has just sold their home. Relatives are not acceptable as rental references. Application may be denied for issues including but not limited to: multiple late rent payments, multiple lease violations, evictions, damages beyond normal wear and tear, illegal activity on premises, refusal to re-rent by previous landlord or a balance still owed to previous landlord.

Security Deposit

The security deposit amount varies from property to property and must be paid in advance.

Easy Entry Fee

In an effort to lower the financial barrier for applicants looking to move into a new property, we are now offering an Easy Entry Fee in lieu of a tenant providing the traditional refundable deposit upfront, prior to moving in. The Easy Entry Fee is a monthly, nonrefundable fee that is equal to 4% of the rent amount listed on the lease. This allows an approved applicant to move into a property after paying the admin fee, prorated rent, and the $40 Resident Protection Package fee! At any time during the lease term, a tenant can choose to provide the traditional refundable deposit equal to one month’s rent in certified funds, and we will remove this monthly fee and update the lease to reflect that a refundable deposit has been paid. This is a wonderful option for applicants who are waiting to receive a deposit refund from their previous property manager, or who cannot afford moving costs, 1st month’s rent, and a deposit all upfront. It is important to note that this is a nonrefundable fee and will not be applied towards maintenance, cleaning, and/or other tenant charges upon move out. Let your Leasing Agent know if you would like to take advantage of this program after you apply!

Short-Term Leases

Lease terms are stated within the details of each listing, and most lease lengths will be 12 months or longer. For some properties, with permission from the owner, short-term leases may be accepted. If the owner approves a shorter-term lease than what is offered in the listing, there will be a three-month minimum lease term, and there will be a monthly assessment added to the rent, which will be 5% of the rent amount listed.

Condition

We believe we have a higher than normal standard in the preparation of our rental units, but our standards may or may not be equivalent to your standards. If you see something that you don't like, or something that you would like added, please make your request during the application process, we will gladly present it to the property owner. If the property owner grants our request, the modification will be made prior to you taking occupancy or otherwise annotated on the rental agreement.

Showings

Please email us at Info@FRPMrentals.com or phone us at (208) 321-1900. We will gladly work around your schedule. We apologize in advance, but for the safety of our team, no showings will be made after dark.

Lease Signing

Once you are approved, you will be notified by phone or email and we will schedule a lease signing appointment. All approved applicants must sign the rental agreement.

Rents

First Rate Property Management chooses rents based on current market conditions and instructions from the property owner. If our competition has a comparable rental for less, please let our leasing agent know. We will do everything we can to match or beat it.