RE/MAX Realty Source features a full service property management division, specializing in residential property management. We currently manage properties across West Tennessee.
Rental Credit Approval Requirements
Rental credit approval requires a good credit score, a clean payment history, and a low debt-to-income ratio. Landlords may also request proof of income, employment verification, and references to assess financial reliability.
Employment and Income Verification
Minimum Income Standards
Credit and Background Checks
All adult roommates must meet the credit and background criteria to be approved.
Age and Lease Eligibility
Anyone aged 18 or older must qualify and be included on the lease agreement.
Special Approval for Applicants Without SSNs
Applicants without a Social Security Number require additional approval from the rental management team.
Judgments, Collections, and Delinquencies
Outstanding judgments or collections from previous landlords or utilities must be resolved before the application is considered.
Assessing Bad Credit
Bad credit, indicated by multiple late payments, is reviewed in the context of the entire report. Unpaid medical or delinquent student loans may carry less weight if good credit is present.
Credit History Age and Trends
Recent positive credit history may outweigh bad credit from 3–4 years ago. However, applications with no good credit history will not be approved.
Bankruptcy Considerations
Applicants must demonstrate a new credit history after bankruptcy for approval.
Section 8 Applicants
For Section 8 tenants, the full rent must be covered by the Housing Authority, or sufficient income must be demonstrated to make rental payments.