The following Application Agreement must be signed by all applicants prior to signing a lease contract. While some of the information below may not yet be applicable to your situation, there are some provisions that may become applicable prior to signing a lease contract. In order to continue with this online application, you'll need to review the Application Agreement carefully and acknowledge that you accept its terms.
1. Fees (nonrefundable): You will be required to pay the $40 per applicant fee in order for Resident Research to process your application. You will also be required to pay a $25 lease signing fee upon signing the lease. Resident Research processes applications as they are received. It is possible that multiple applications can be in process for the same property at the same time. Before you submit and pay an application fee, you should check with Shearer Realty’s office to make sure that there is not an approved applicant already for the property you are applying for. Resident Research will request the following supporting paperwork to be uploaded or sent via email, fax to Resident Research in order to process an application:
1. Copy of Driver's License for all applicants
2. Copy of Social Security Card for all applicants
3. Proof of income for all applicants. Any form of the following will be accepted: 2 consecutive current pay stubs, offer letter from employer, current year tax records or bank statements showing a reserve of 3x monthly rent.
2. Approval Information: Shearer Realty will notify you (or one of you if there are co-applicants) of the application approval. Once approved, you will have first right of refusal and 48 hours to provide your security deposit for the home you are approved for. Once your 48 hours has passed, we will move on to the next application in line and offer them 48 hours to secure the home. Please make sure you have your deposit ready in the event you are approved.
3. Security Deposit: Upon approval of your application, you are required to provide a Security Deposit equal to at least 1 month’s rent. Shearer Realty can require a larger deposit if we find that your credentials are less than desirable. This is a case by case scenario as each person has different credentials. Once we have your deposit, we will send you a lease to review and sign electronically.
4. Lease Start Date: Once approved and a Security Deposit is paid, we can sign a Lease Contract that starts anytime within the following 30 days of approval. The first month’s rent will be due on the date of occupancy. The first month’s rent will be pro-rated if applicable. Once a Lease Contract is signed, tenant cannot back out without being in breach of contract whether they take possession of the property or not. If the Lease Contract is breached, tenant will forfeit their Security Deposit.
5. If You Withdraw Before Approval: If you or any co-applicant withdraws an application or notifies us that you've changed your mind about renting the dwelling unit, we will keep your application on file and the parties will then have no further obligation to each other. You will not be refunded your application fee(s).
6. Non-approval: If your application is declined, we will notify you immediately. Your application fee(s) will not be refunded. Notification may be in person, by mail, email or telephone unless you have requested that notification be by mail. You must not assume approval until you receive actual notice of approval. Below are automatic rejection items:
1. Income does not exceed 3x monthly rent amount
2. Felony conviction on a criminal history
3. Poor rental history (including outstanding debt to a previous landlord)
4. Credit score below 500
7. Extension of Deadlines: If the deadline for signing or approving under paragraph 2 falls on a Saturday, Sunday, or a state or federal holiday, the deadline will be extended to the end of the next business day.
8. Notice to or from Co-applicants: Any notice we give you or your co-applicant is considered notice to all co-applicants; and any notice from you or your co-applicant is considered notice from all co-applicants.
9. Keys or Access Devices: We will furnish keys and/or access devices on the day before your lease starts and only after: (1) Applicants have signed the Lease Contract and other rental documents referred to in the Lease Contract; and (2) all applicable rents, fees and security deposits have been paid in full.
10. Signature: Our reception of this application is consent only to this Application Agreement. It does not bind us to accept applicant or to sign the proposed Lease Contract.