Tenant Selection Criteria and Applicant Requirements

Effective 5/1/2024

Anyone occupying the property that is eighteen (18) years of age or older must fill out an application and submit a non-refundable application fee. Payment must be received before we will complete the verification process. We accept payments online with a credit card at www.stoneoakmgmt.com or cashiers check, money order or personal check (delivered to our office - we do not accept cash).

We THOROUGHLY verify all applications for each client we represent. Our normal acceptable applicant will need to meet the requirements below. If you do not meet these minimum requirements, you should contact us before submitting your application in order to discuss your particular situation:

1. Verification of Identity: Each applicant will be REQUIRED to provide copies of proof of identity documents (at least one with a photo) such as Driver’s License, Social Security card, Passport, etc.
2. Income: Gross monthly income, combined for all tenants should be at least three (3) times the monthly rent amount. Income of two and three-quarters (2.75) times the monthly rent may be considered with an additional deposit or a guarantor based on other qualifications Guarantors, when required, must have gross income greater than or equal to 5x the monthly rent
3. Employment: We require verifiable employment history for at least the past three (3) years. If you are self-employed, retired, or not employed, we can accept such documents as signed tax returns (2 years minimum), W-2's, bank statements, paycheck stubs, etc. that provide proof of the applicant's ability to pay the rent. If military, we need a current copy of your LES.
4. Residency: Verifiable residence history for at least three (3) years whether you currently own or rent.
5. Credit History: We will obtain a copy of your credit report. You cannot provide this to us, we will obtain this ourselves. The minimum score is 600, however scores of 580 or above may be considered with an additional deposit or a guarantor based on other qualifications
6. Criminal, Sex Offense, and Terrorist Database History: We will check for inclusion in these databases.
7. Occupancy: The total number of tenants and occupants may not exceed two (2) persons per bedroom, or limitations in accordance with local or state law.
8. Pets: All applicants, including those without pets or with assistance animals, are REQUIRED to complete the screening at stoneoak.petscreening.com. Pet policies and deposits vary from home to home so please contact us to determine the pet policy for this home. Most homes are limited to the number and size of pets. None of our homes permit dog types generally considered dangerous by common insurers, including but not limited to: Akita, Bull Dog, Beauceron, Belgian Malinois, Caucasian Mtn Dog, German Shepherd, Great Dane, Keeshond, Mastiff, Rhodesian Ridgeback, Pit Bulls, Staffordshire Terriers, Dobermans, Rottweiler, Chows, Wolf Hybrids or any similar breed or mixed breed. Further any Farm, Saddle, or Exotic Animal, or any animal with bite history will not be accepted.
9. Applicants will be denied for the following or similar reasons: False, inaccurate, or incomplete applications; Evictions, judgments related to rental residency, tax liens, unpaid child support; current bankruptcy proceedings; felony convictions and out of prison or jail less than 5 years, multiple felonies, physical or violent crimes, manufacturing illegal substances, domestic violence, sex offenses; and/or appearance on any sexual offense or terrorist database.
10. Applicants may be denied or required to pay additional deposit or rent, and/or have a co-signer/guarantor for the following or similar reasons: insufficient verifiable income, excessive late or NSF rent payments, broken leases, property damages, unpaid rent, mortgage not current, foreclosures, bankruptcy filings five years or less, credit scores under 600 or no credit score, excessive credit collection balances, slow pays, drug related offenses, etc.
11. Special Considerations: Potential applicants who are in the adult entertainment industry or working/studying the practice of law or related fields need to contact us before submitting an application.

ACCEPTANCE AND MOVE-IN PROCEDURES

1. We normally verify and review an application within seven (7) business days of receipt PROVIDING ALL VERIFICATIONS CAN BE COMPLETED and application fees are paid. Holidays, delayed verification responses, additional information requirements, and other factors can slow the process. There is no need to contact us to check status. We will contact you when an update is available.
2. Once an application has been accepted, the Applicant has until 5:00 P.M. the following CALENDAR day to deliver the Deposit and First Month’s Rent to our offices (if not already done). These funds must be in the form of two separate Cashier's Checks or money orders, one for rent and another for the deposit, made out to Stone Oak Management. We will not accept CASH for any reason. You also cannot pay this online. During this time, we will not remove the Property from the market; however, we will not process any further applications or present any other offers until the deadline has passed.
3. Accepted Applicant(s) will be sent the lease for online e-signatures. The lease will be filled out by us, but there will be items you must fill out on the lease as you go through and sign it. All documents should be thoroughly examined, and any questions should be addressed BEFORE signing the documents. Once the lease is completed arrangements will be made for access and keys.

By applying to lease a property managed by Stone Oak you are acknowledging receipt of these criteria, and should contact us if you have any questions BEFORE submitting an application. Application fees are NON-REFUNDABLE.