TENANT SELECTION CRITERIA

• Complete application form online at www.NorthTexasRentHomes.com. The direct link, should you need it, is www.ntex.twa.rentmanager.com/ApplyNow, The main applicant should start the application, and under Additional Occupants, it will let you put the the name and email for anyone 18+ that will be living in the property so they can apply. If they are a minor, please pick application type as “Dependent.” Please call us to confirm that we received your application. Call 972-881-4739 and we will immediately check for your paperwork. 
• Income: Your gross monthly income must be equal to three times the rent. It must be documented (check stub, tax return, etc.) In addition, your rent plus your other monthly debt payments may not exceed 45% of your monthly gross income. Finally, your residual income (gross income minus new rent payment minus monthly debt payments) $1200 for one person and $350 for each additional person. (2 people, $1550, 3 people $1900, etc). For Section 8, we only use the Residual Income Requirement.
• Landlord reference: We require a reference for at least the previous twelve months from a landlord that verifies that you do not have excessive late payment history with them and that you did not write NSF checks. We would also like verification that no significant damage was done to the property. If you are currently under lease with another landlord and will be breaking that lease (or if you have not given your required notice to vacate to your previous landlord to rent our property, your application will be denied. We will consider your application even if you have a recent foreclosure. You must document the cause and show that is it not likely to reoccur (for example, a recent divorce, adjustable rate mortgage with huge payment increase, taking a job with lower income. etc.) If you do not have a recent mortgage or landlord reference (for example, you have been living with a relative), we will consider your application. However, you must have either strong credit, a co-signor, or a double deposit.
• Credit: We will pull a credit report. We will work with credit problems and/or no-credit situations. We may ask you to explain the circumstances regarding negative items on your report. However, we place significantly more emphasis on your landlord reference and job stability than your credit report. If most item on your credit report is negative, we will deny your application. If you have recent delinquencies on a major credit line (such as a car note), we will deny your application. If you currently in a bankruptcy, we will deny your application. We do NOT count medical collections against you.
• Employment: We require proof of two years of employment. Applicants who have experienced periods of unemployment that exceed 30 days in the last two years will be scrutinized more closely.
• Number of occupants: No more than two occupants allowed per bedroom; no more than one vehicle per bedroom will be allowed.
• Criminal Background: We do pull criminal background check. The owner will have final say in whether they will accept or deny an application based on the criminal background check. 
• If we determine that any information on the application is false, the application will be denied.

We may require a co-signor or a larger deposit if you:

1. Have an old balance owed to a landlord, but a more recent favorable landlord reference. 

2. Have a job-gap but can provide a good explanation (e.g. Divorce, Family illness, etc.)

3. Do NOT have a landlord reference

4. Do not make enough income to qualify for the property

A co-signor will have excellent credit (FICO credit score of 680 or above); excellent job stability and have the capacity to make the rental payments in the

event applicant does not make the lease payments.

I have read and am aware of the tenant selection criteria. I understand that my $50 application fee is non-refundable.

Updated 09/05/2024