How does JCS Realty evaluate rental applications? There are four main criteria JCS Realty reviews in the application process: Employment (Income), Credit Score, Credit History (Monthly Payments), Criminal History
So you want to apply for a JCS Rental, but are unsure you would qualify and don't want to waste your money? We completely understand! Let us explain what criteria we're evaluating and why:
Employment (Income)- At JCS Realty, our job is not simply to match people with homes, but to match homes with people. The unfortunate reality is that, sometimes the home we want, we just can't afford right now. The last thing we want to do as a responsible company is be forced to evict someone from their home because they couldn't afford it. As a general rule of thumb, we like to see an applicant(s) household income be at least 4 times the monthly rent amount of the property for which they are applying For example, lets say a couple applies for a JCS Rental and the wife brings home $2,400.00 a month and the husband brings home $2,200.00. To figure the maximum monthly rental amount they could qualify for, they would add the incomes together and then divide by 4: $2,200+$2,400= $4,600.00. $4,600.00/4=$1150 per month. Therefore, these applicants would be approved for a rental home with a monthly price of $1150 per month or less.
Credit Score - While Owners for which we manage properties set different limits on what Credit Scores are acceptable, a credit score at or above 550 is a good indicator of eligibility for a JCS Rental. Your Credit Scores give us a good indication as to whether you will or will not follow though with your committments on the lease contract.
Credit History - When you submit your application, JCS Realty will be provided with all debts and monthly payments that you are currently making. Also, we will be supplied with any unpaid debts that may have been turned over to collections. Almost all of us in the modern world have debt, and debt alone will never diqualify you from your dream home. However, these monthly payments will be counted against your income in the first section of criteria; therefore reducing the original price point you might have initially qualified for. In the event you have had a judgement issued against you for collections of non-payed rents in the previous two calendar years, you will automatically not be eligible for a JCS Rental.
Criminal History - Every application submitted provides JCS Realty with a full and comprehensive criminal report on each applicant. Most Felony convictions and some Misdimeanors may prevent you from being eligible for a JCS Rental. In the event you are unsure if you would fall into this category,we recommend you give us a call prior to applying, so one of our Leasing Agents can help you get the information you need.
As always, if you've read through this and are still unsure or have questions please give us a call. We're always here to help guide you home!