Tenants
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Tenant Insurance Requirements
Please send a copy of your renters policy with a minimum liability of $300,000 and RE/MAX Alliance included as Additional Insured/Interest.
Our address: 4701 Columbus Street, #200, Virginia Beach, VA 23462.
Terms & Conditions
THE RENTAL APPLICATION PROCESS
Thank you for your interest in our rental property. The following information is provided to assist you with the rental application process.
In order to submit an application we will require supporting documentation such as paystubs, LES, previous address and landlord information, current and past employment information.
APPLICANT ACKNOWLEDGES THAT THE RE/MAX ALLIANCE LISTING AGENT REPRESENTS THE OWNER OF THIS PROPERTY.
1. Filling Out Your Application: A separate application is required for each adult 18 years old and over who will be living in the property. A photo ID is required for all applicants no later than lease signing.
2. Application Fee: The following fees must be submitted with the completed applications: The application fee is $45.00 per adult (any person over the age of 18) plus any service fees. This fee is non-refundable.
3. Application Review: In addition to the information on your application the following items will be verified:
- A) Income (Provide 2 most recent paystubs, a copy of your LES or 2 years of recent tax returns if self-employed)
- B) Outstanding Debts
- C) Credit Report
- D) Rental History (Any fees incurred to verify residency and/or employment will be paid by tenant to RE/MAX Alliance within 24 hours of request.)
- E) Employment History (Active Duty Military will be required to provide a copy of orders.)
- F) Other Documentation, as required.
A formula is used to determine whether the applicant has sufficient income to pay the rent for the property in question: Monthly payments plus proposed rent divided by monthly gross income must not exceed 40% to receive an acceptable rating for this category. This is an industry accepted ratio and may be adjusted on a case by case basis. Each property manager is an independent contractor with RE/MAX Alliance. Qualifying criteria and fees may vary between Property Managers.
4. Security Deposit: Once the application is approved, the security deposit and any additional fees and deposits must be received within 24 hours by certified funds or wire, payable to RE/MAX Alliance. Additional fees / deposits may be required at this time.
5. Lease: When the security deposit is received, arrangements will be made to sign the lease documents within 24 hours. If applicant fails to execute the lease, return the lease within 24 hours of receipt, honor the terms of the lease and/or occupy the property, this shall result in the forfeiture of the portion of security deposits and fees equal to Owner’s actual damages and expenses. Applicant(s) acknowledges that Agent reserves the right to hold the security deposit until the lease is finalized and applicant(s) should be aware that the property may remain active on the rental market until the lease is finalized.
6. First Month’s Rent & Applicable Fees: Your first month’s rent is due on the lease start date.
7. Remaining Monthly Rent Payments: Rent is due monthly. Your account will be drafted the evening of the 1st day of the month. We will provide the enrollment form when you sign the lease. Anyone that does not pay their rent via direct debit may be required to pay an additional monthly processing fee in their rent payment. This fee will be addressed in the lease. Rent is due at our office the 1st calendar day of each month.
8. Rental Insurance Policy: Proof of your rental insurance policy must be provided in English by the starting date of your lease. Your policy must have a minimum liability of $300,000 and include RE/MAX Alliance as an additional insured under the liability section of the renter’s insurance policy. Check with your insurance company about flood insurance, loss of use riders and additional (optional) provisions for your protection.
9. DISCLOSURES: After the submission of this application there will be additional disclosures to be signed specific to the premises on this application.
The owner of the premises you are applying for carries insurance on the dwelling only. You must acquire renters insurance for your household goods. Neither the Agent nor Owner of the property is responsible for damages to your personal property. You will be required to add RE/MAX Alliance as an additional insured under your liability section with a minimum liability of $300,000.
Each applicant certifies information provided in this application is true and accurate to the best of their knowledge. Owner and Agent have each applicant's permission to obtain credit history, public records and verify any information provided for purpose of this application process and in the future as long as tenant has any outstanding balance due RE/MAX Alliance and/or Owner. If any applicant withholds or gives false information, this application is considered void and the lease agreement may be terminated by the Owner.
If the application is approved and the Applicants do not enter into a lease, any fees/deposits paid by the applicant(s) may be retained by the agent. Full Security Deposit must be received in certified funds by Agent within 24 hrs after application approval. Property remains on the market until deposit is received. Application fees are nonrefundable.
Owner and Agent are pledged to the letter and spirit of U.S. Policy for achievement of equal housing opportunity. We encourage and support affirmative advertising and marketing programs in which there are no barriers to obtain housing because of race, color, religion, sex, handicap, familial status, elderliness or national origin.
Megan's Law Disclosure; Applicant(s) should exercise whatever due diligence they deem necessary with respect to information on any sex offenders registered under Chapter 23 (19.2-387 et seq) of Title 19.3. Such information may be obtained by contacting your local police department or the Virginia State Police, Central Criminal Records Exchanged, at 804-674-2000 or on the internet at www.vsp.state.va.us.
Each property manager is an independent contractor with RE/MAX Alliance. Qualifying criteria and fees may vary between Property Managers. Each Applicant understands that the Listing Agent represents the Owner of the premises.
By signing below, each application hereby authorizes verification of the information provided on this form.