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Balance. Respect. Attainable.

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A Balanced Approach

Bridging the gap between tenants and owners

We value transparency, fairness, and trust for both potential residents and prospective owner landlords. For tenants, we ensure our rental requirements are clear and attainable, providing guidance throughout the process. For landlords, we rigorously screen tenants, considering rental history and financial stability to safeguard your investment. Our mission is to create a seamless rental experience that respects both tenant needs and owner expectations, fostering a harmonious living environment underpinned by integrity and mutual respect. 

Rental Application Information

Please carefully review our rental application information before applying for a property.

Application Fee: A non-refundable fee of $75 per person, payable online, is required for processing your application and obtaining your credit report.


Eligibility
: Each resident aged 18 and older must submit an individual application.


Qualifying Criteria:


  • Income Requirements:
    Your monthly income should be at least three times the rental amount. Combined income may be considered under certain circumstances. Verification is necessary.
  • Employment History: Ideally, you should have a consistent full-time employment of six months leading up to the application, or two consecutive years of documented employment.
  • Credit History: A minimum FICO score of 650 is generally required, though scores between 600-649 may be considered with a co-signer or additional deposit.
  • Rental History: Satisfactory, verifiable rental or mortgage history is required, with contact details for prior landlords. Applications may be denied if previous landlords cannot be contacted.
  • Criminal Record: Applicants must have a clean criminal record. Any violent criminal history or history related to property damage or theft will lead to automatic denial.
  • Application Submission: Your application must be complete for consideration. Incomplete or falsified applications will be rejected.


Processing Time:
Expect 48-72 business hours for processing, subject to outside vendors providing credit reports, employment verifications, etc.


Lease Term:
A minimum lease term of one year is required.


Rent Payment:
Full rent for the first month is due prior to moving in. Rent for the second month will be prorated if the move-in date is not the first day of the month. All rent payments must be made online.


Security Deposit:
Due at lease signing, the security deposit is typically equivalent to at least one month's rent, subject to credit score and other factors.


Processing Fee:
A $25 processing fee applies for payments made by check or money order.


Pet Policy
: Non-refundable pet fees apply—$450 for the first pet and $150 for each additional pet.


Before You Begin:
Please have your valid ID, proof of income, and application fee ready when you apply. Your application becomes the property of Principled Residential.


Application Fee: $75.00

Rental Application Criteria

Please review the rental application criteria below prior to completing an application and contact us if you have any questions.

Income
Income-to-Rent Ratio:
Result Total Monthly Income of Applicant(s)
Criteria met At least 3.5 times monthly rent
Manual review required At least 3 times but less than 3.5 times monthly rent
Criteria not met Less than 3 times monthly rent
Estimated Disposable Income after Debt and Rent:
Result Total Estimated Disposable Income after Debt and Rent
Criteria met At least $1,000.00
Manual review required At least $400.00 but less than $1,000.00
Criteria not met Less than $400.00
Credit History
Credit Score:
Result Score
Criteria met 650 or higher
Criteria met with co-signer or increased security deposit 600 - 649
Criteria not met 599 or lower
No Credit File/Score Manual review required
Accounts in Good Standing:
Result Percentage of Accounts in Good Standing
Criteria met At least 100.0% of accounts are in good standing
Manual review required At least 80.0% but less than 100.0% of accounts are in good standing
Criteria not met Less than 80.0% of accounts are in good standing
Accounts in Collection:
Result Accounts in Collections
Manual review required 1 or more accounts in collections
Criteria not met 2 or more accounts in collections
Calculation Excludes: Accounts less than $100.00
Medical Accounts
Rental History
Landlord-Tenant Disputes (Judgments for Landlord):
Result Landlord-Tenant Disputes
Criteria not met Judgments in favor of landlord within the last 7 years
Criminal History
Felonies:
Result Crimes
Manual review required Any alcohol offenses within the last 5 years
Criteria not met Any criminal mischief within the last 5 years
Criteria not met Any dishonesty/fraud within the last 5 years
Manual review required Any driving under the influence offenses within the last 5 years
Manual review required Any drug possessions within the last 5 years
Manual review required Any drug trafficking/manufacturing within the last 5 years
Manual review required Any marijuana possessions within the last 5 years
Manual review required Any marijuana trafficking/manufacturing within the last 5 years
Manual review required Any other drug offenses within the last 5 years
Criteria not met Any other crimes against persons within the last 7 years
Criteria not met Any other crimes against property within the last 7 years
Criteria not met Any other crimes against society within the last 7 years
Criteria not met Any financial non-violent offenses within the last 5 years
Manual review required Any non-violent offenses within the last 5 years
Criteria not met Any sexual offenses within the last 7 years
Criteria not met Any violent offenses within the last 7 years
Criteria not met Any weapon offenses within the last 7 years
Misdemeanors:
Result Crimes
Manual review required Any alcohol offenses within the last 5 years
Manual review required Any criminal mischief within the last 5 years
Criteria not met Any dishonesty/fraud within the last 5 years
Manual review required Any driving under the influence offenses within the last 5 years
Manual review required Any drug possessions within the last 5 years
Manual review required Any drug trafficking/manufacturing within the last 5 years
Manual review required Any marijuana possessions within the last 5 years
Manual review required Any marijuana trafficking/manufacturing within the last 5 years
Registries
Result Registry
Criteria not met Listed on sex offender registry
Criteria not met Found in OFAC/terrorist database records

Download Rental Application Information and Criteria

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