Thank you for your interest in our rental property. The following information is provided to assist you with the rental application process.
Applicant acknowledges that the TRUE REALTY Listing Agent represents the Owner of this property. A married couple may complete one application. A separate application is required for each adult 18 years old and over who will be living in the property. A photo ID and a form which displays applicants SSN# on it is required for all applicants no later than lease signing.
- Application Fee: The following fees must be submitted with the completed applications: The application fee is $50.00 per adult (any person over the age of 18). The application fee for a married couple is $80.00. This fee is non-refundable and must be in the form of a cashier’s check, money order made payable to True Realty or paid online. We DO NOT accept cash or personal checks for application fees.
- Application Review: In addition to the information on your application the following items will be verified:
a. Income (Please provide 2 most recent paystubs or a copy of your LES)
b. Outstanding Debts
c. Credit Report
d. Rental History
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 TRUE REALTY.
- Security Deposit: Once the application is approved, the security deposit must be received within 24 hours by certified funds payable to TRUE REALTY. Additional fees / deposits may be required at this time.
- Lease: When the security deposit is received, arrangements will be made to sign the lease documents within 7 days. If applicant fails to execute the lease, return the lease within 72 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 TRUE REALTY 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.
- First Month’s Rent: Your first month’s rent is due on the lease start date by cashier’s check or money order.
- Remaining Monthly Rent Payments: Rent is to be paid via Electronic Funds Transfer, (EFT). Your account will be drafted the evening of the 1st business day of the month. We will provide the enrollment form when you sign your lease. Anyone that does not pay their rent via EFT will be required to pay an additional $10.00 monthly processing fee in their rent payment. Rent is due at our office the 1st day of each month.
- Rental Insurance Policy: Proof of your rental insurance policy must be provided by the starting date of your lease. Your policy must have a minimum liability of $300,000 and include TRUE REALTY 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 provisions for your protection.
- DISCLOSURES: All attached disclosures should be carefully considered before submitting the application.
After clicking “submit application” above, please click “Pay Application Fee” button to make your application fee payment.
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 TRUE REALTY 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 TRUE REALTY 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 TRUE REALTY. 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 TRUE REALTY. Qualifying criteria and fees may vary between Property Managers.