Rental Policy and Process
Our apartments are rented on a first come, first served basis.
We evaluate every rental application in the following manner:
- Each prospective tenant needs to complete and submit a rental application. To submit an application, a non-refundable $35 application fee per applicant/cosigner is required, along with a promise to pay $1000 holding deposit once your application is approved.
- We will process your application through our screening process, which will check your credit report, criminal history, and rental background to confirm that you fully meet our criteria. Based on this screening criteria, you will either be approved or denied for the apartment.
- Once we receive all necessary applications along with your holding deposit, we will reserve the apartment for you for a period of 24 hours. During this time, the unit is taken off the market, and no other applicants can apply. You will need to submit your proof of income during this 24-hour period. We also encourage you to review the lease, along with our policies and procedures, and to ask any questions that arise.
**As soon as you are APPROVED, the $1000 holding deposit is automatically drafted from the account in which you paid your application fees from. This $1000 holding deposit is applied to your last month’s rent.
- If you choose not to rent this apartment within this initial 24-hour period, we will issue you a check refunding your $1,000 holding deposit with 2 business days.
- If you choose not to rent this apartment after the 24-hour period has expired, you will forfeit your holding deposit. If the apartment re-rents and a new tenant begins their lease within 30 days of what would have been your lease start date, we will refund any monies due to you after the prorated rent is deducted.
To qualify for an apartment with Port Property Management, you must meet the following criteria, or be an applicant from a Project Home approved program:
INCOME: Your verifiable gross monthly income should be at least two and a half times the monthly rent. If you don’t meet our income criteria, you may need to provide a qualified co-signer. Please see below for co-signer criteria.
RENTAL HISTORY: Negative rental history, such as a past eviction, owing a previous landlord money, or being sued by a prior landlord will result in your application being declined.
CREDIT HISTORY/BACKGROUND CHECK: We use a software system that determines a “Risk Score” for each applicant. This “Risk Score” is determined by running a credit and criminal background check on every person over the age of 18 residing in our apartments. If a felony of any kind or a criminal charge/misdemeanor involving dishonesty or violence is found in your background check, or if you are on a sex offender registry, your application will be denied.
Risk Score: Applicants with a “Risk Score” between 501-619, or no credit history, require a cosigner to rent an apartment. We cannot approve an applicant with a Risk Score of 500 or below, with or without a cosigner.
Security Deposit: Your security deposit amount will range from $300 to one full month’s rent. This scale is based on your “Risk Score.” A lower “Risk Score” will result in a higher security deposit, while a higher “Risk Score” results in a lower security deposit.
Cosigner Requirements: If you do not meet the income, rental or credit history criteria mentioned above, you may still qualify for an apartment by having a third party guarantee your lease. A qualified cosigner must have a “Risk Score” of 680 or above and verifiable income of at least four times the monthly rent. Your co-signer will fill out an application and submit a non-refundable $35 application fee, so please make sure that the person you have asked to co-sign for the apartment meets these criteria.
Move in Costs: We require first month’s rent, last month’s rent, and a security deposit to be paid before moving in.
Pet Policy: We permit up to two pets in an apartment when the renter qualifies and agrees to the terms of our pet addendum. The monthly fee is $25 for cats and $50 for a dog. Dogs need to be met and approved (by our staff) prior to accepting an application/holding deposit. Please read the full Pet Policy to obtain more information.
We are an equal opportunity housing provider and fully comply with the Federal Fair Housing Act. We do not discriminate against any person based on race, color, religion, sex, disability, familial status, sexual orientation, or national origin. We also comply with all state and local fair housing laws.
To prevent overcrowding and undue stress on plumbing and other building systems, we restrict the number of people who may reside in an apartment. In determining these restrictions, we adhere to all applicable fair housing laws.
Dishonesty or inappropriate/threatening behavior towards a Port Property Management employee, agent, or resident during the application process will be grounds for denial.
Honesty is the best policy! By submitting your application for an apartment, you are agreeing that you have completed it to the best of your knowledge. Should we find that you have been dishonest during any part of the application process, we reserve the right to deny your application. Please make sure to list all rental references on your application and answer all questions thoroughly.