CERTIFIED Rental Application
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Tenant Qualification Policy
Certified Real Estate Investments, Inc. qualifies tenants based on three criterions. The first is income, second is the tenant’s background and third is the tenant’s housing payment history. The tenant’s monthly income must be three times the monthly rent. This is mandatory. If the tenant cannot document that their income is at least three times the monthly rent the tenant does not qualify. The background check includes the tenant’s credit history, criminal record and eviction record. Also identifies any judgments and bankruptcies that have been recorded against the prospective tenant. Certified Real Estate Investments, Inc. accepts a 620 credit score as satisfactory. In the event that one or more of the tenants’ credit score falls below 620, the tenant’s housing payment history must be reviewed. When all adult occupants have a 620 credit score no additional analysis is necessary. A credit score of less than 620 does not mean that Certified Real Estate Investments, Inc. will not rent to the tenant. Certified Real Estate Investments, Inc. reserves the right to reject a tenant’s application based on Criminal Records, Evictions, Bankruptcies and Judgments based solely on the inclusion of same on the tenant’s background report. When Certified Real Estate Investments, Inc. reviews the tenant’s housing payment history, the most recent six housing payments are the payments that are considered. Housing payments can be documented in a few different ways. First, canceled checks are acceptable as proof of payment. Second, bank statements showing the housing payment clearing the tenant’s bank are acceptable. Third, the landlord’s accounting records showing the receipt of the housing payment are acceptable. A letter from the landlord is not acceptable. Documentation that all six housing payments were received by the landlord or have cleared the tenant’s bank account on or before the 15th day of the month is acceptable. Certified Real Estate Investments, Inc. requires the First Month Rent, and a Security Deposit equal to 1 ½ Months Rent, guaranteed funds, before the tenant will be authorized to take possession of the property. Security Deposits may be held in an Interest Bearing Escrow Account. All Interest accrues to the account of Certified Real Estate Investments, Inc.