RENTAL REQUIREMENTS
Rental Policies
GENERAL
Each applicant 18 years of age and older must complete a separate rental application online and pay an application fee of $40 per application. Valid photo identification must be presented when submitting an application along with a proof of financial statement. Acceptable identification includes a current driver’s license, passport, and/or state issued photo identification card. A photocopy will be retained for our records.
PROCESSING
Each application must be complete, signed, and paid for before processed. Additional applications will continue to be accepted until the approved applicant has signed the lease and paid the security deposit. Our office operates on a strictly "First In, First Processed" with respect to applications. The first completed application received, moves to the front of the line. Please ask our Broker or one of the agents for full details of our policy.
RENTAL HISTORY
Any adverse information regarding the applicant(s) rental history obtained through our third party credit service may result in the denial of the application. Applications may be denied for evictions, damages beyond normal wear and tear, illegal activity on premises, refusal to re-rent by previous landlord or a balance still owed to previous landlord.
INCOME
Total combined monthly household gross income (before taxes) must be at least three times the amount of the monthly rent, and the minimum verified income to rent ratio is 2.5x net income. You will be required to provide a written proof of financial statement from your employer to support the amount of income you claim on the rental application. Acceptable written proof includes two most current pay stubs, Federal Income Tax Returns from prior year(s), and/or other proof deemed acceptable by the Property Manager. We will accept as proof of retirement status two (2) consecutive year of federal income tax returns, a retirement letter from employer, social security checks or retirement checks from your employer or an annuity. Discovery Investments does not discriminate against anyone based on their source of income earned legally.
CREDIT HISTORY
All information shown on the credit report is subject to verification, including previous address and place of employment. All contracted debts, including rent, cannot exceed 50% of gross income. Contracted debts include credit card payments, car payments, loans, etc. All applicants must have a FICO score of 720 or higher. Negative items on a credit report or a FICO score below 720 may result in a declined application. A qualified co-signer must have a FICO score of no less than 720.
RENTAL REFERENCES
Discovery Investments requires a positive rental reference from your landlord for the last three years of your rental history.
MOVE-IN TIMEFRAME
Applicants must be able to execute a lease and have a planned move-in date within 30 days of application approval.
APPLICATION COMPLETENESS
Applications must be fully completed and accurate. Missing information, unverifiable information, or falsified information may result in the application being denied or removed from consideration.
PROPERTY TOUR REQUIREMENTS
Applicants are encouraged to personally tour the rental unit before submitting an application. Applications will only be considered complete from individuals who have physically viewed the property. We will not consider sight-unseen applications. This requirement ensures applicants evaluate the property's condition, layout, and location before applying. In limited circumstances, the landlord or property manager may approve a designated representative or live virtual tour for applicants relocating from outside the area, provided they receive advance approval.
RENTER’S INSURANCE
Tenants are required to maintain renter’s insurance throughout the duration of their tenancy with personal liability coverage of at least $500,000.00 and list the owner and Discovery Investments as an additional interest. Tenants and their property are not insured or covered under any of the Owner’s insurance policies.
PET POLICY
Please contact us at info@discoinvest.com to request a copy of our Pet Policy for the unit you are interested in renting. Our Pet Policy is on a case-by-case basis at the discretion of the owner. Discovery Investments requires written authorization in the form of a Pet Addendum and an additional deposit.
SERVICE AND EMOTIONAL SUPPORT ANIMALS
In accordance of local, state and federal law, service and support animals are allowed upon request with written authorization from the owner in the form of an Assistive Animal Request and Documentation Addendum along with a letter of recommendation.
OCCUPANCY STANDARDS
We determine a maximum occupancy standard based upon California law and specific cities regulations on maximum occupancy limits if applicable.
ANTI-DISCRIMINATION COMPLIANCE
Discovery Investments practices fair housing policies abiding by California and Federal HUD laws which prohibit realtors and property managers from discriminating against protected classes.
