Rental Application Guidelines

FAIR HOUSING:  HomeVault strictly abides by the Federal, State and Local Fair Housing Laws and principles of equal opportunity. We do not discriminate on the basis of race, color, religion, national origin, sex, disability, familial status, ancestry, sexual orientation, gender identity or spousal affiliation.

APPLICANTS: EACH proposed occupant 18 years of age or older must complete a separate rental application and pay our application processing fee of $65/applicant (Note: for NM residents - Gross Receipts Tax is included in the fee). This fee is non-refundable. If there is more than one applicant, your scores will be blended to arrive at a decision. If a co-signer is needed, the co-signer will be required to complete a separate rental application, and will be required to execute the rental agreement along with the resident(s) of the property. Any co-signer approved will be fully obligated to all conditions and terms of the rental property lease.

CREDIT CRITERIA:  HomeVault may obtain a consumer credit report for each applicant. This report must be generated by HomeVault, and not the applicant. A credit score above 625 is required. Although we do evaluate creditworthiness, we do not use your credit scores as the sole determining factor in our decision to approve or decline your application. In addition to a credit report, we also run an eviction search, bad check search, national criminal database scan, residential history verification, employment verification and driver’s license verification. We also may contact current and previous landlords, employers, and/or references provided by you. The screening result will be a score based on an objective algorithm, (this will be a blended result if multiple persons are applying together).

CRIMINAL HISTORY - Prior convictions may affect the application score but will not be cause for denial unless the overall score does not meet the requirements for approval. Applicants may be denied for any sexual related offenses for any time period, or for offenses involving domestic violence if applying for a condo or apartment.

INCOME VERIFICATION:  Proof of Income – Please provide us with copies of the last 30 days work of paycheck stubs or a letter on company letterhead from your employer to verify income. If you are unemployed or self-employed, please provide a copy of last year’s income tax return and your last 3 month’s bank statements.  Other income such as retirement, SSI, child support, etc. must have reliable documentation if you wish us to consider it.

IDENTIFICATION:  Photo identification is required. Please provide us a copy of your driver’s license or other government issued photo ID. 

SOCIAL SECURITY NUMBER: Each adult applicant must present evidence of a valid Social Security or Tax ID Number for the purpose of obtaining a credit report and matching to a photo ID.

NUMBER OF OCCUPANTS:  The maximum number of occupants allowed in the rental property is 2 per bedroom.

SMOKING POLICY:  All of our properties are non-smoking properties. No smoking is permitted inside or near any of our rental homes where smoke can vent into the home.

PETS:  Most of our properties will consider pets on a case-by-case basis unless otherwise stated. Before final approval can be obtained, we require that your pet be screened through a third-party pet screening service. If you have a pet, please go to this link: The cost for your pet will be determined based on the pet application. Please reference the cost of such in the Terms of Agreement.

SERVICE/ASSISTIVE ANIMALS: Service and assistive animals are always welcome subject to prior verification. If you have a service/assistive animal, please access the following link to provide the required verification:

LEASE CONTINGENCY FEE:  A lease contingency  fee may be applicable if your application score falls below 93 or regardless of your application score if we are unable to verify rental history.

RESIDENT BENEFITS PACKAGE: The Resident Benefits Package is mandatory and includes features such as:

  • Keyless Entry System (where possible) - conveniently controlled by an app on your phone
  • Free Heating/Cooling Filters - delivered to your door regularly (frequency varies by season)
  • Free Concierge for Utilities Setup
  • Regular Property Visits - to make sure you are doing ok and check on any concerns you haven't already brought to our attention
  • 24/7 Online Portal - where you can submit maintenance requests anytime, pay your rent online, communicate with us or access your electronic documents
  • 24/7 Maintenance Hotline - with live phone support
  • Free Positive Credit Reporting
  • Access to “No Deposit” option
  • Free e-check payments online
  • One-time late fee forgiveness

LEASE PREPARATION FEE:  A $125/$225 (differs per location)  lease preparation fee will be due prior to administering the lease (Gross Receipts  Tax may also apply depending on location). We will reach out to you once your application is approved and ask you to pay the lease preparation fee within 24 hours. Once that fee is paid we will send you the lease for e-signature and will send you an accounting of the funds required to secure the property, including security deposit and any relevant fees. Once the lease is signed and those initial funds are paid we will take the property off the market. Please note that at any given time in the process up until us receiving the required funds the property could be taken off the market and rented to another party, even if your application has been approved.

HOLDING / SECURITY DEPOSIT:  You will be required to pay a holding deposit upon approval of your application to remove the home from the market. The holding deposit will serve as a reservation fee until you move in, and will convert to your security deposit