Rental Policy and Process
- We evaluate every rental application in the following manner:
- We ask that you complete and submit a rental application. Submitting the application will also require paying a non-refundable $35 application fee and placing your holding deposit of $1000, which will go toward your last month’s rent.
- Upon receiving all necessary applications along with your holding deposit, we reserve the apartment for you for a period of 24 hours. During this 24-hour period, it is important for you to review the lease, our policies and procedures, and to ask any questions that arise. We will process your application through our screening process, which will check your credit report, rental background, and personal references to confirm that you fully meet the criteria set forth by Port Property Management. Once we have completed processing your application(s), we will contact you with next steps regarding the rental of your new home.
- Keep in mind that we can hold an apartment for you for a maximum of 30 days from the date you place your holding deposit. This means that your lease will need to start and be signed by you, your roommate(s) and/or co-signer, if applicable, no later than 30 days after we receive your holding deposit.
- If you change your mind about renting the apartment within this 24-hour period, we will gladly refund your $1,000 holding deposit.
- If you change your mind after the 24-hour period has expired, you will forfeit your 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, you will receive a prorated refund of the initial $1,000 deposit.
To qualify for an apartment with Port Property Management, you must meet the following criteria:
- INCOME: Your gross monthly income must be at least two and a half times the monthly rent. If you are unemployed and/or don’t meet our income criteria, you will need to have a qualified co-signer. Please see below for co-signer criteria.
- RENTAL HISTORY: We look for positive personal 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. If you do not have sufficient rental history, you will need to have a qualified co-signer.
- CREDIT HISTORY/BACKGROUND CHECK: We run 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.
- A Risk Score (which is the calculation made by a third party to determine rental eligibility) below 620 or no credit history means you’ll need to have an approved co-signer for the apartment. We cannot approve an applicant with a Risk Score of 500 or below.
- 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.
- 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 co-signer 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 this criteria.
- We require first month’s rent, last month’s rent, and a security deposit to be paid before moving in.
- Honesty is the best policy! By submitting your application for an apartment, you are agreeing that you’ve 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 honestly.
- 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 $20 for cats and $50 for a dog ($40 each for 2 dogs). Dogs need to be met and approved 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 because of race, color, religion, sex, disability, familial status, sexual orientation, or national origin. We also comply with all state and local fair housing laws.
Our apartments are rented on a first come, first served basis.
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.