RENTAL REQUIREMENTS FOR HOMES & APARTMENTS
IMPORTANT – NEW REQUIREMENTS
PLEASE REVIEW THE REQUIREMENTS AND THE INFORMATION BELOW BEFORE COMPLETING THE APPLICATION AND ONLY PROCEED IF YOU MEET ALL THE QUALIFICATIONS
AMG PROPERTY MANAGEMENT APPLICATION PROCESS
- Applications are processed in the order that they are received with all required documents and information.
- Applications are processed in 5-7 business days.
- An application cannot be approved until all aspects of the screening policy have been completed and reviewed by the leasing department and owner of the property.
- Housing is on a first come, first served basis, therefore, we do not hold properties until the application is approved and a deposit is made.
- All applications are on file for 30 days from the application date. After the 30-day expiration date, applicants must re-apply.
- Application fees are NON-REFUNDABLE.
The household income of all Applicant(s) must have a minimum combined income of 3x the monthly rent after taxes. Each applicant combining income will need to submit their own application and documentation.
- Complete the application via online.
- Pay application fee* of $45 (*The application fee is NON-REFUNDABLE).
- Copy of valid photo ID and Social Security Card/ITIN Number Letter.
- Copies of proof of income. (See Income Requirement Section Below)
- Proof of residency showing applicant’s current address written on the application
- Documents may be submitted at the office in copies, via fax 317-863-1160, or via email at firstname.lastname@example.org (please write applicant’s name on the subject line).
- We will contact you by email or phone regarding your application.
You can fill out the application online at our website HERE
All applicants will undergo a screening process, which includes a review of the applicant’s credit history, previous rental history, employment verification and background check. All applications are valid for 30 days. To qualify for residency with AMG Property Management, each applicant must meet the requirements detailed below. Please note nothing contained in this document constitutes any guarantee of approval.
All applicants must have a FICO score of 550 or higher.
For properties posted For Rent at $1,000 or more, the applicant must have a FICO score of at least 620.
All open collections and delinquencies may be taken into consideration during review of the credit report.
PROOF OF INCOME SHOWING THE APPLICANT MAKES 3x THE RENTAL AMOUNT AFTER TAXES.
Monthly Rent = $800
Combined monthly household income must be = $2,400 (after taxes)
- Pay stubs for the last 30 days (Weekly pay period = 4 paystubs, Bi-Weekly = 2 paystubs, Monthly = 1 paystub) OR
- Applicants who have been with current employer for fewer than 30 days should provide any paystubs received AND an Employment Verification Letter confirming date of employment and terms of compensation OR
- 30 days of most recent bank statements showing all employment income deposits if employee is paid by direct deposit OR
- 90 days of most recent bank statements when payroll is not received as direct deposit into the applicant’s bank account. Please upload each monthly statement separately. OR
|Employed (starting a new job)
- Signed and dated offer letter on official company letterhead with hourly rate (specifying how many hours will be worked each week) or annual salary. Must include start date along with any recent paystubs from current employer. Start date must be within 30 days of application submission. Employment letters with conditional employment clauses may not be acceptable. Employment will be independently verified during the screening process.
|Relocating to Indiana
- Tenants relocating to Indianapolis area need to provide proof of future employment by relocation/job offer letter.
- If self-employed / business owner, the business must have been in operation for at least 90 days.
- 90 days of most recent bank statements AND
- Copy of business license that validates ownership
- Current statement showing pension, IRA or any other supporting retirement income from issuing agency OR
- 90 days of most recent bank statements showing the deposits of retirement income
|Social Security, Disability, GI Benefits etc.
- Government award letter or statement from issuing agency
|Child Support and Alimony
- Government award letter (if available) AND
- 30 days of most recent bank statements showing the deposits of support
- Formal financial aid documentation that specifically reflects Room & Board allowance. Aid must be currently active.
Dismissed/discharged or pending bankruptcies that appear on the applicant’s credit report will be taken into consideration. Any rental balance owed that has been waived due to a dismissed or discharged bankruptcy may result in a declined application.
Prior evictions filed or enforced, within the last 3 years will result in an automatic denial of the application. The amount of eviction filings will be considered even if they are over 3 years old. If there are multiple eviction filings in the rental history, the application may be denied.
We must be able to verify the last 2 years’ rental/mortgage payment history. We will submit a Rental Verification form to your current landlord. Applicant must have minimum of 2 years of positive rental history.
Additional deposit may be required if:
- Late payments are reported
- Applicant does not meet the above requirement.
We are not able to complete processing the application without this form. Residing with a family member is not considered a verifiable rental history.
We do take into consideration the current amount of the rental/mortgage payment history and the amount that the applicant is applying for. If there is more than a $100 increase in the monthly rent amount compared to what the applicant was paying, the applicant may not qualify for the property.
All applicants must consent to a criminal history verification using third party agency. Applications may be denied for certain felony convictions.
The amount of the security deposit will be determined by the applicant’s credit score and rental history and will vary between 1-3 times the monthly rent.
FALSIFICATION OF DOCUMENTS
Any falsification in Applicant’s paperwork will result in the automatic denial of the application as inconclusive and deny the right of future occupancy. If an Applicant falsifies paperwork, the Landlord has the right to withhold all application fees paid. Falsification of application is also grounds to terminate the lease regardless of when the falsification is discovered.
AMG PROPERTY MANAGEMENT IS AN EQUAL OPPORTUNITY HOUSING PROVIDER.