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FAQs- The Application Process
What do I do if I am ready to lease a home through MatchboxRealty.com?
Any person over the age of 18 must fill out an application. They must then either be approved and self-qualify or obtain a Guarantor.
Who must fill out an application?
Each adult (person over 18 years of age) planning to occupy the home must fill out an application. When a Guarantor is needed, they must also complete an application.
Why must all adults fill out an application?
Any person over the age of 18 who resides in the home must be listed on the Lease to have a legal right to occupy the home. We must verify the suitability of everyone on the Lease through the application process.
Why do I need to complete a PetScreening Profile?
We strive to provide mutual accountability and responsibility for the benefit of our residents. It’s imperative that ALL our residents fully understand and acknowledge our pet and animal-related policies. We use a third-party service, PetScreening, to ensure all applicants understand how to adhere to the property’s pet and animal policies, even if you do not have a pet or animal. This ensures we have formalized pet and animal-related policy acknowledgments and more accurate records to create greater mutual accountability. Please see these instructions on making a PetScreening profile.
What is a Guarantor?
A guarantor is required by any tenant, student or non-student, if you do not meet the necessary Tenant Selection Criteria. A guarantor accepts responsibility for your lease obligations in the event you are unable to do so.
The guarantor does not need to be related to you. If you do not have a guarantor, please reach out to one of our Portfolio Managers about theguarantors.com, where you can apply for a third-party guarantor.
Please view a sample of our Guarantor Form.
What is your application fee?
Our application fee is $50.00 (Non-refundable) per applicant. This fee is applicable to prospective tenants and guarantors.
I am a student or do not have enough income to qualify for a property, can I still lease one of your properties?
Yes, however we will require you to secure a suitable person to guaranty the lease. You may not be a Guarantor to your own Lease, nor may a roommate guaranty your Lease.
View a sample of our Guarantor Form.
Why does my guarantor have to fill out an application?
We must evaluate the credit-worthiness of all involved in our leasing process. The guarantor’s credit must be satisfactory and source of funds must be approximately five times the monthly rent. They must also be over 18 years of age and live within the United States.
Does my guarantor have to pay the application fee?
Yes. This fee covers each individual associated with the leasing process. Every person over the age of 18 will need to pay the application fee. Guarantors are required to sign as a participant to the lease along with the tenants that intend to occupy the unit. A full credit check is performed on each and every applicant, including guarantors.
What factors do you use in determining if my application is approved?
First and foremost, we operate in strict compliance with all Fair Housing Guidelines. After receiving an application we investigate rental / ownership history, credit report, criminal report and source of funds verification along with other Tenant Selection Criteria. If you are interested in seeing these criteria, please inquire.
How much income/credit do I need to qualify?
Typically, we require the monthly source of funds of applicants to be three times the lease payments. For a guarantor it must be five times.
How long does it take to process my application?
Typically, once we have all pertinent information required (including the non-refundable Application Fee) we can fully process your application within 3 business days.
After my application is approved, what do I do?
We will contact you, as soon as possible, to let you know that you have been approved. If you have not heard from us, please reach out about your application status at info@matchboxrealty.com. When notified, you should then immediately schedule an appointment to sign your Lease. A unit is not marked unavailable until the lease is signed.
What happens if more than one application is submitted for the property that I applied for?
All applications are accepted and processed on a first come-first served basis. Due to our fiduciary relationship to the owner, if more than one application is submitted before approval of an application, we are required to select the highest rated application.
What if my application is denied?
In the event your application is denied, we make every effort to contact you promptly regarding the denial and any steps that might be available to you.