"Rental Policies & Procedure”

Rental Application Criteria & Process

At Willowby Properties, we are committed to ensuring that the homes we manage are rented and maintained in a way that preserves the quality of both the residences and the surrounding neighborhoods. To support this commitment, Willowby Properties conducts a thorough and objective screening process for all rental applicants.

Application Requirements

Once you have selected a property, you must complete, sign, and submit a Rental Application. Every individual aged 18 or older who intends to reside in the property must submit a separate application, regardless of marital status or relationship to other applicants.

A $35 nonrefundable application fee is required for each applicant and covers the cost of processing. Fees must be paid by money order, cash, or credit card at the time of submission. Applications begin processing promptly upon receipt; therefore, all processing fees are nonrefundable.

A $35 tenant screening fee is required for each applicant. This fee covers the cost of processing the necessary screening, including credit, background, and rental history checks. The screening fee must be paid at the time the application is submitted.

Minimum Qualification Requirements

To be considered for tenancy, applicants must meet the following criteria:

1. Complete Application

Applications must be filled out entirely and legibly. Incomplete, inaccurate, or illegible applications may delay processing, require an increased security deposit, or result in denial.

2. Identity Verification (Red Flag Compliance)

In accordance with Section 114 of the FACT Act of 2003, we verify the accuracy and consistency of all information provided, including cross-referencing with credit reports and other sources.

3. Income Requirement (“Factors of Three”)

The combined gross monthly income of all applicants must equal at least three (3) times the monthly rent.

Required documentation:

  • Two most recent pay stubs for each applicant/guarantor

  • If self-employed: Two most recent years of tax returns

    • Self-employment income is calculated using Form 1040, Schedule C (Line 31: Net Income + Line 13: Depreciation)

  • If using alternative income or assets: Two most recent asset statements

Applications will not be processed without proper documentation.

4. Credit History

A credit report will be obtained from a national credit bureau. Adverse credit history — including delinquent accounts, collections, judgments, or a BEACON score below owner-established criteria — may result in denial or additional conditions.

5. Employment History

Applicants must provide either:

  • Two years of employment history, or

  • The three most recent positions (whichever is less).

6. Rental History

Applicants must provide:

  • Three years of residency history, or

  • The three most recent tenancies (whichever is greater).

We make diligent efforts to verify landlord and lender references; however, applicants are responsible for ensuring that references are accessible and responsive.

Additional Considerations

Applications are evaluated based on multiple factors, including credit, income verification, rental references, employment stability, pets, bankruptcies, and/or short sales.

Willowby Properties may:

  • Require a higher security deposit

  • Require a qualified guarantor

  • Deny an application

Particularly in cases where credit scores are below 720, references cannot be verified, or derogatory information is received.

Pet Policy

Only select properties allow pets. Unauthorized pets constitute a lease violation and may result in termination of tenancy.

Processing Time

Applications are typically processed within three (3) business days. However, delays may occur due to:

  • Red Flag alerts

  • Inability to verify landlords, employers, or references

If you have not received a response within 96 hours (4 business days), you are encouraged to contact our office for a status update.

Applications will not be pre-screened outside of the standard process. Incomplete or falsified applications may be denied without notice. All submitted applications become the property of Willowby Properties.

Property Availability & Deposit to Hold

Availability of any unit cannot be guaranteed until an application is approved and a Deposit to Hold is received. Properties are rented to the first approved applicant who submits the required Deposit to Hold.

Deposit to Hold payments and all move-in funds must be paid by cashier’s check or money order. A Deposit to Hold will only be accepted after application approval.

Let’s Talk!

We take pride in providing expert guidance and personalized service to help you achieve your real estate goals with confidence. To learn more about our services,  please don’t hesitate to reach out.