Age Requirement

Anyone over the age of 18 must apply and a separate application is required for each individual 18 or over. $45 application fee per person. If a person has been emancipated then we will require verification of such emancipation OR if a person is under 18 but legal guardian will guarantee for minor (no younger than 17) we will consider. Being an emancipated minor means that you are considered an adult before age 18 and are legally separated from your parents or legal guardians. Before gaining emancipation , you will have to prove to the court that you are up for the task of being on your own and living like an adult—budget, bills, and all.

3x rent in income is a requirement UNLESS you are an ABP (All Bills Paid) property. In the event it is ABP then we will accept 2.5x rent in income. ALL income must be verifiable. We verify off of gross pay not net. We do not count tips as wages UNLESS they provide the previous years tax return.

We handle rent collection and provide detailed financial reports so you can keep track of your investment. Our goal is to maximize your profits and save you time.

• Job Offer Letter which is on company letterhead, states position, rate of pay and either full-time or part-time. 
• 2 months of bank statements that show DIRECT DEPOSIT from the company they work for. Please note that when an individual uses direct deposit the taxes have already been deducted therefore it works against them, especially if they are close on income qualifying. 
• 2 consecutive months of paystubs 
• Most recent income tax return 
• Child Support so long as they have 6 months of verification of payments. If the child support is ordered by the Attorney General there should be a printable statement of payment available. 
• Award letters from educational institutions can be counted so long as you are only counting the housing stipend. Also Social Security Payments and Housing Vouchers are acceptable forms of income verification. 
• If you are retired with no proof of monthly income or have other circumstances it is best in this case that you get a decision from your Regional Supervisor or owner of Royal Property Management or her designated supervisor. 

Please note that we can ALWAYS (providing all other criteria are met) accept rent payments up front which then removes the need to income qualify. Additionally, we can ask for a guarantor when a person doesn’t income quality. Guarantor must meet all qualifications as well.

Decisions will never be based on a credit score. We are looking for more than 3 past due accounts (medical and school loans not applicable) in the amount of $500 or more. Previous evictions, foreclosures, bankruptcies or repossessions, unpaid utilities.

• Bankruptcies or Repossessions in the last 2 years MAY result in conditional approval or denial depending on total overview of report.
• Charged off accounts with a “paid as agreed” zero balance- DOES NOT COUNT AGAINST APPLICANT 
• Charged off accounts with a balance and no payment history- COUNTS AGAINST APPLICANT  
• Charged off accounts with a balance and positive payment history-DOES NOT COUNT AGAINST APPLICANT 
• Revolving accounts that are past due with no current payment-COUNTS AGAINST APPLICANT 
•  Revolving Accounts that have late pays but are in current status-DOES NOT COUNT AGAINST APPLICANT

Royal Property Management and Onward Property Management seeks to operate in compliance with all Fair Housing Guidelines. Because Disparate impact applies in cases where the discrimination is unintentional. Companies can often get into situations regarding criminal background where this becomes an issue. Please note that we will go back 10 years on criminal convictions. 

• At present, Sex Offenders, regardless of how long ago the offense took place will be automatically denied. 
• Felony convictions of a drug possession/manufacturing/delivery or violent and sexual crime will be grounds for denial. 
• An individual with multiple misdemeanors for drug possession or other crimes as mentioned above could be grounds for denial. It is best in this case that you get a decision from your Regional Supervisor or owner of Royal/Onward Property Management or her designated supervisor. 
• DWI/DUI and deferred adjudication in most cases does not count against the applicant.

Rental Verification is an important part of the qualifying process. All things may look great on the application and results but nothing is more telling than the rental history so do not ever skip this step. 

• We verify the rental going back two (2) years. 
• Individuals who owe $500-$2500 to a landlord will be conditionally approved requiring one month in advance and must meet deposit requirements below. That advance rental payment will not be used until the last month of his/her lease term. 
• If applying with multiple applicants one (1) applicant affects all. In cases where multiple applicants exist and one or more do not qualify but the other (s) do then the additional applicants can be listed as occupants which means they cannot be held financially liable. They must however pass the criminal background portion of the screening in order to be approved to be an occupant. 
• If an individual is late on payments more than 6 times in one year either a month in advance will be required or a guarantor. 
• If an individual owes more than $2500 or has done property damage they will not meet our rental criteria.