Thank you for applying with Peabody Residential for your housing needs. In order to better serve you, we feel it is imperative that you are made aware of and fully understand our application process and screening criteria.
A copy of Landlord’s Residential Lease Agreement and customary terms and provisions are available here for your review prior to submitting your application.
Property Condition: Applicant or the applicant(s) representative is required to view the property prior to submitting any application. Landlord makes no express or implied warranties as to the Property’s condition.
Find our Tenant Handbook as well as other tenant forms below:
What You Should Know Before You Apply:
- Peabody Residential conducts periodic walk thrus of the home you will live in. We take pictures and possibly video of the interior and exterior of the home during those walk thrus. This information is kept on record and shared with the owner. If this standard walk thru procedure is going to cause you a problem – we recommend you stop now and do not apply for one of our homes.
- Peabody Residential is a ZERO TOLERANCE company in regards to rent collection. Rent is due the 1st of each month, late on the 2nd of each month. We require you to make all payments electronically as part of the lease agreement unless we instruct you otherwise. There is no additional charge for electronic payment, and payments can be made 24/7.
- Upon Approval: Once you are approved, you will be notified by phone and or email with instructions on making your online payment and a security deposit that will secure the home off the market on your behalf.
- The application fee ($60 per applicant) is non-refundable and collected on-line from each applicant at the time of submission. It is charged regardless if the application has been fully submitted to include supporting documents. The Landlord reserves the right to reject any application not completely submitted within a 24 hour period.
- Tenant Handbook – Applicant/Tenant agree that as part of the application and lease that the Tenant Handbook and all terms, policies and agreements shall be incorporated in the application agreement and lease agreement.
- You Are Required to View the Property. Applicant or the applicant(s) representative is required to view the property prior to submitting any application. Landlord makes no express or implied warranties as to the Property’s condition.
- Quoted rents apply only to those who elect to use free online rent payment system a $15 processing fee will be added for any other methods of payment
- The relationship between a landlord and tenant is a business relationship. We are licensed real estate agents in the state of Virginia and Washington, DC and we represent the Owner exclusively. The relationship between a landlord and tenant is a business relationship. A courteous and businesslike attitude is required from both parties. We reserve the right to refuse rental to anyone who is verbally abusive, swears, is disrespectful, makes threats, has been drinking, is argumentative, or in general displays an attitude at the time of the showing or during the application process that causes management to believe we would not have a positive business relationship
- We do not prescreen Applications. Applicants are required to pre-screen themselves with the below criteria and will need to meet the requirements. If after reading all the information below you feel you meet these minimum requirements, you are encouraged to apply.
Application Submission Terms and Agreement:
Unless specifically agreed to in writing, the property will be presented to the applicants on the Lease Start Date in the current condition, including normal wear and tear. If the applicant(s) have any special terms being offered that differ from the current MRIS listing and property condition they must be included with the submission of the application and supporting documents to be considered. Applications are processed Monday-Friday and the application process may take up to 2 business days to process after all required documentation is submitted.
Upon approval of the application, the primary applicant will be sent an email to register into their online account and make payment for the Security Deposit. Once the Security Deposit payment is confirmed the lease shall be sent electronically to the applicant(s) and agent to review and complete. Upon delivery of the fully executed lease, the applicant(s) will make payment of the First Full Month’s Rent and any fee’s or additional charges. Pro Rata/Prorated rent will be due the business day prior to the lease start date.
Each Tenant/Occupant over the age of 18 MUST COMPLETE AN INDIVIDUAL APPLICATION.
Co-Signers are only considered in Washington, DC. No co-signers are considered in Virginia. Co-signers are required to be a resident of the State/Jurisdiction of the property to be considered and must complete an individual and complete application including providing supporting documents. Co-Signers should include in their application all the applicants they are co-signing for. Applicants should include the name(s) of all other applicants for the lease in application.
Identification: Each applicant is required to provide a copy of a legible Government issued photo identification card.
Application Process & Screening Criteria:
Peabody Residential is committed to equal housing and we fully comply with the Federal Fair Housing Act (FFHA). We do not discriminate against persons because of race, color, religion, sex, handicap, familial status, national origin, or age. We also comply with all state and local fair housing laws. We offer the online application to everyone who requests one.
Approval is based on SEVEN factors:
- Credit History
We will obtain a copy of your credit report. You cannot provide this to us, we will obtain this ourselves. Credit history should show that the resident has paid bills on time and does not have a history of debt “write-offs” or accounts that have gone into collection. Money owed to a previous landlord or utility company is cause for denial. Residency may also be denied due to poor credit history.
A credit scores of 660 or higher are usually approved with normal rents, as advertised admin fees, and a security deposit equal to one month’s rent. Credit scores below 660 may be considered with an increased security deposit or prepaid rent. Credit scores below 620 are normally denied due to bad credit.
- Employment Verification and History
We require verifiable employment history for at least the past three (3) years, unless you are entering the work force for the first time. You must be a permanent employee (not temporary or probationary). If you are self-employed, retired, or not employed, we can accept such documents as signed tax returns (2 years minimum), bank statements, etc. that provide proof of applicant’s ability to pay the rent. If military, we need a current copy of your LES. If you are active duty military, you must be on an assignment that, to the best of your knowledge, will allow you to complete an initial 12 month lease.
- Income Verification
Your monthly income should be at least three (3) times the monthly rent and verifiable from an unbiased source: employer through pay stubs, tax returns, and/or bank statements. We require one full month of pay stubs if you are currently employed. Self-employed income may also be verified with a CPA-prepared financial statement or tax returns. Your employment history should reflect at least 6 months with your current employer. Transfers or relocations must have correspondence showing an accepted job offer. Any verification fees required by the employer must be paid by the applicant. Applicants who do not meet the above employment or income requirements must submit Savings Account statements showing a minimum average balance equal to 8 months of rental payments, for the last 6 months. PLEASE NOTE: If there are more than 2 unrelated individuals applying, only the top 2 incomes will be used to determine if you as a group meet income guidelines.
- Rental Verification and History
We require verifiable residence history for at least three (3) years whether you currently own or rent. Applicants are responsible for providing information including the names, addresses and phone numbers, of Landlords with the dates of tenancy for the previous 3-5 years. Rental history must be verified from unbiased sources. Home ownership will be verified from a current credit report. We can accept base housing as rental history. Any evictions within the previous 5 years will be automatic grounds for denial. Broken leases will be considered on a case-by-case basis and an additional security deposit may be required.
- Criminal, Sex Offense, and Terrorist Database Check
We will check these databases for all occupants over 18.Criminal backgrounds with Felonies resulting in bodily harm or intentional damage or destruction of property for example, “arson:” within the last 7 Years or Felonies for illegal manufacture or distribution of a controlled substance within the last seven years or any person required to register as a sex offender are all grounds for denial of an application. **An exception may be made for type and or age of offense, please provide details to the Property Manager.
- Pet Criteria
Pet policies vary from one homeowner to another. For each approved pet there will be a pet fee charge of $300 (Pet Fee is Non Refundable) and an additional pet deposit may be due. In Washington, DC there may be a $25-$50 increase in the monthly rent. Some owners do not permit pets, while others restrict type and/or size of pets. No more than two pets per household are permitted without specific owners’ approval.
Property Insurance Companies do not allow certain particular breeds of dogs, either purebred or mixed. Therefore, dogs fully or partially of the following breeds will be rejected: Akita, American Bulldog, Bullmastiff, Mastiff, Chow, Doberman, German Shepherd, Husky, Presa Canario, Pit Bull, Siberian Husky, Staffordshire Terrier, “Wolf Dog”, Bull Terrier, Pit Bull Terrier, Rottweiler and any combination of these.
Special consideration is given to “Service Animals” that assist a tenant with special medical needs (proper and current documentation needed).
We require with your application, a picture of the pet(s) that will be on the property.
- No Aquariums larger than 10 Gallons allowed.
- No ferrets, reptiles or rodents of any kind are permitted as pets.
*Depending on the results of the application, we may request an additional deposit as part of the lease.
NOTICE TO ALL APPLICANTS:
Quoted rentals apply only to those tenants that elect to use our online tenant payment system from their checking or savings account. A $15.00 processing fee will be charged for each payment received either in person or by mail or by other method.
NO SMOKING is permitted inside the home, garage or any other enclosure on the property.
Disabled Accessibility concerns should be submitted in writing to the property manager.
We must obtain Owner approval to allow modification of the premises. All modifications are at the expense of the disabled person, and the disabled person must agree to restore the premises, at their own expense to the pre-modified condition (provided the modification would affect the use and enjoyment of the premises for future residents).
- Written proposals detailing the extent of the work to be done.
- Written assurances that the work is to be performed in a professional manner by a licensed/bonded contractor.
- Written approval from the landlord before modifications is made.
- Appropriate building permits and required licenses made available for the landlord’s inspection.
- A restoration deposit may be required per Fair Housing guidelines.
School enrollment concerns should be investigated prior to submitting your application. Please verify the school information with the school district because enrollments get capped and designation boundaries may change.
REASONS FOR DENIAL OF APPLICATIONS:
- If you failed to give proper notice when vacating a property.
- If previous landlord(s) would be unwilling to rent to you again for reasons pertaining to your behavior or that of any family member, guest (welcome or not), your pets, or any animal on the property during your tenancy.
- If you have had three or more late payments of rent within the last 12 months.
- If you have an unpaid collection filed against you by a Property Management Company or Landlord.
- If an unlawful detainer action or eviction has occurred within the past five (5) years.
- If you have recently received a notice to vacate.
- If you have had two (2) or more NSF checks within the last 12 months
- If you have allowed any person(s), not on the lease, to reside on the premises.
- If we are unable to verify your information, we must deny the application.
- If your monthly income does not meet our requirements.
- No Businesses operated from property. If you have a home based Business that you think we might approve please let the Property Manager know.
Once You Are Approved
Once you are approved you will be notified by email. We send out the lease through email to all approved applicants and their agent. Applicants have 24 hours to sign the lease and 48 hours to make the initial payments due per the lease. After 48 hours additional applications will be considered and the lease offered may be withdrawn.
Start of Lease:
- Vacant Homes — Peabody Residential has a policy that all leases on vacant homes must begin within 14 days of application approval. We are unable to hold the home rent free without a lease agreement longer than that time.
- Occupied Homes — Peabody Residential will typically advertise a first available date with all of the homes we manage. In some cases, those dates will need to change due to circumstances beyond our control. We ask the approved incoming tenant be flexible in some cases. We understand the burden this can create and strive to advertise a solid date so incoming tenants can plan accordingly.
Please have the following items ready before applying:
- Last 2 addresses and Landlord information
- Employer and Previous Employer: Name, Contact, Start Date, Salary
- Dependant Information
- Emergency Contact Information
Have the following documents ready to UPLOAD when applying:
- One full month of recent paystubs/ Proof of income and Employment
- Copy of Government issued ID (ex. driver license)
- Pet Picture with Applicant in image (if applicable)
- Current Vet Record (if applicable)
*You may also email your documents to: Applications@PeabodyResidential.com
PLEASE REMEMBER TO COMPLETE STEP 2. OF THE ONLINE APPLICATION PROCESS FOR PAYMENT OF THE PROCESSING FEE.