Rental Criteria

WHAT’S REQUIRED TO APPLY TO RENT?

Each individual (18 years and older) applicant must apply and each must pay a $59 application fee. Valid ID required.

Submit proof of income (pay stubs or tax returns) showing all adults combined monthly totals at least 3x monthly rent.

Provide 3 years of accurate landlord references (note: per FACTA Identity Theft regulations, we report false landlord references to credit bureaus and local law authorities.)

If you have pets, a digital photo of you with your pet(s) must be submitted. (Please see ‘Pet Screening” section for additional information on pet fees and breed restrictions).

WHAT WOULD CAUSE AN AUTOMATIC DECLINE?

If we find evictions, unpaid balances due to landlords, credit score below 500, insufficient income, unsatisfactory references, and recent or non-discharged bankruptcies. Unqualified occupants, pets and/or vehicles can also be a reason to decline.

IF MY CREDIT ISN’T PERFECT, CAN I STILL BE APPROVED?

Clients with good credit/income/references will be approved at the security deposit amount published in the listing. Those with less than perfect credit can be approved at up to a double security deposit. You are not required to pay the last month’s rent at move in. A risk mitigation fee will also be required.

CONTINGENT APPROVAL FEES – CREDIT SCORE BASED

All lease transactions involve risks. To mitigate this risk for both landlord and tenant, Vivid PM routinely visits the property and reviews and documents the condition of properties before, during, and/or after each tenancy, ending most security deposit claim disputes before they begin. Offering an approval based upon total credit score below a 620 comes with even more inherent risk to the landlord and property manager. Much like with Apartment Communities, an approval can be offered even to tenants with less than perfect credit, as long as they can pay an additional fee associated with their credit scores to offset the risk involved.

Risk Mitigation Admin Fees for Applications

Average Credit Score (all adults) Fee Due at Lease Signing
620-850 $0
600-619 $199
550-599 $299
500-549 $399
300-499 Declined

WHAT IF THERE ARE MULTIPLE APPLICATIONS ON THE SAME PROPERTY?

We process applications in the order they are received. Once processed your conditional approval or denial will be communicated to you. For Approvals: In order to secure the property for you and your family you are strongly encouraged to pay your holding deposit as quickly as possible. Additional applications will be processed as they are received. The first applicant(s) to pay the holding deposit will be awarded the lease and the property will be taken off the market. Other applications may be offered a backup position if they were already processed. If the approved applicant does not follow through with renting the property, the holding deposit may be retained to cover expenses from when the home was removed from being actively marketed. The payment of a holding deposit will give the applicant no more than 30-days to move into the home, unless prior approval in writing was given to the applicant.

IS THE APPLICATION FEE REFUNDABLE?

To evaluate the various applications, it is necessary for Vivid PM to expend time and cost in credit reports, criminal reports, and other administrative costs. Hence, our policy that the application fee is NON-refundable. If your application is approvable, but not the approved one for the property for which you are applying, you may consider applying for other available properties that we may have, without payment of an additional application fee.

Application fee: $59 per individual (18 years and older)

Ready to Apply?

Please review the “TERMS OF APPLICATION AGREEMENT”

1. ASSOCIATION APPROVAL

Where applicable, this contract is subject to and contingent upon the prospective tenant(s) being approved by the condominium/homeowner’s association. The prospective Resident(s) will pay any non-refundable application fee required by the condominium/homeowner’s association and make an application for association approval within 3 days from the effective date of this contract. Occupancy shall not be permitted prior to association approval. In the event the prospective Resident(s) are not approved by the association and/or Vivid PM, this contract will terminate, and any rents and/or security deposits paid will be refunded to the prospective Resident(s). Refunds are subject to applicant(s) funds have cleared our bank account. The non-refundable application fees paid to the association and to Vivid PM are not refundable under any circumstances.

2. AUTHORIZATION

I (we) affirm that the information contained in this rental application to lease to be true and correct. I (we) agree that Vivid PM may terminate any agreement entered (including the lease) in reliance on any misstatement made in this application. I (we) agree and affirm that Vivid PM may question and seek information from all persons and/or firms named by us in this application and contract to lease, and further authorize Vivid PM to acquire my (our) credit reports and criminal background check from any authorized credit agency. I (we) agree that acceptance of this application is conditional upon a credit check and other verifications that are satisfactory to Vivid PM.

3. FAILURE TO PERFORM

I (we) agree to enter a lease for the rental unit upon the terms outlined above. I (we) agree that I (we) have toured or video-toured and previewed and seen the rental unit being applied for and that I (we) are accepting it in “AS IS” condition, unless otherwise noted above in “Other Items Requested”. If I (we) refuse to enter into the manager’s lease (within 24 hours of notification of approval), AND/OR if occupancy is not taken by me (us) (on or before the occupancy date indicated), then Vivid PM may rent or lease the property to another party and all deposits and application fees paid herewith shall be forfeited by the prospective Resident(s) and retained by Vivid PM as liquidated damages.

4. RENTAL PROCESS AND APPLICATION PROCEDURE

I (we) do hereby acknowledge the “Rental Process and Application Procedures” and that I (we) understand and agree to the terms of application and rental process. I (we) have read and agreed to all pages of this application package and have submitted them with this application for consideration by Vivid PM.

5. APPLICATION PROCESSING AND TIME FRAME

If you fully complete the application and provide us with accurate contact information for your current and/or previous landlords, we can usually process your application in 1-2 business days. We pledge to process your application, whenever possible, during the same day that you apply (during standard business hours). In some cases, approval of homeowner associations, condominium associations, homeowners, or unforeseen circumstances may require some applications to take longer. You will be contacted immediately upon determination of approval or denial. All adult applicants (18 years old and older) must submit a fully completed, dated, and signed rental application and application fee.

No rental property will be held vacant for more than 30 days unless approved by Vivid PM.

6. COST

If you decide to apply to rent one of our properties, there is a non-refundable application fee of $59 per adult that must be submitted with your application. Incomplete applications submitted with obvious conflicts with the HOA/Condo rules will not be processed.

Some Homeowner and Condominium Associations may require a separate application and fees and if such is the case, you must also apply separately to such homeowners or condominium associations and remit whatever additional application fees may be required.

7. APPLICATION PROCESS

Upon receipt of your rental application and application fee, you can expect and hereby authorize that we will do the following:

Once you have been notified of your approval, you must place (at a minimum) a holding deposit, equal to at least one month’s rent, within 24 hours of your approval notification. Once approved and payment of the holding deposit is paid, your holding deposit is non-refundable. In the event you fail to enter into the lease agreement or refuse to take possession of the property on or before your applied for beginning rental date, you shall forfeit these funds as liquidated damages. Due to the high demand for rental homes, we will not hold the property you applied for off the rental market unless you provide the required holding deposit. If you do not comply with this requirement, we may rent the home you applied for to someone else.

All applicants must see the interior of the property before an application can be submitted. The property must be accepted in “AS IS” condition before an application can be accepted, except where there is a written agreement for maintenance or repair items. Any such maintenance or repair request (if any) must be written and included with your application under “Other Items Requested”, in the contract to lease a portion of your application. If your maintenance and repair request(s) are acceptable to Vivid PM, then that agreement will be written in the lease or lease addendum. Verbal representations are non-binding. In the event the manager should receive two or more related applications for the same property, the applicant understands the manager may select the applicant desiring the property in “AS IS” condition, over another applicant requesting maintenance or repairs.

All initial funds, the holding deposit, first month’s rent, and security deposit must be paid through the tenant portal at least 7 days in advance. Subsequent months MUST be paid using the online tenant portal.

8. RESIDENTS SELECTION CRITERIA (INFORMATION BELOW MUST BE VERIFIED AGAINST CRITERIA USED BY SCREENING COMPANY)

To qualify for the advertised security deposit amount you must meet the following criteria. If your credit, residence history, or income does not qualify, you may still be approved but at a higher security deposit amount and increased risk mitigation administrative fee.

Applicants must have a combined gross income of at least three (3) times the monthly rent. Incomes must be verified in writing, the applicant may provide recent pay stubs. A minimum of three year’s residential history is required. Rental history must be rated satisfactory or better, with no record of evictions. We reserve the right to require a co-signer/guarantor and/or higher security deposit. Co-signers are accepted at the manager’s discretion only, must meet all requirements independently.

Credit history and/or Civil Court Records must not contain landlord judgments, eviction filings, landlord collections, or liens. We will NOT provide you with the credit report or tell you of its’ contents; however, we will provide you with the name of the credit reporting agency so you may receive a copy from the credit bureau. All information collected for the approval or denial of this application is considered confidential in nature and for company use only.

9. CONTINGENT APPROVAL FEES – CREDIT SCORE BASED

All lease transactions involve risk. To mitigate this risk for both landlord and tenant, Vivid PM routinely inspects the condition of the properties before and after each tenancy, ending most security deposit claim disputes before they begin. Offering an approval based upon total credit scored below a 620 comes with even more inherent risk to the landlord and property manager. Much like with Apartment Communities, an approval can be offered even to tenants with less than perfect credit if they can pay the additional fee associated with their credit scores to offset the risk involved.

Risk Mitigation Admin Fees for Applications:

Average Credit Score (all adults) Fee Due at Lease Signing
620-850 $0
600-619 $199
550-599 $299
500-549 $399
300-499 Declined

10. PETS

We use a third-party pet policy service, all applicants must create a tenant only or a pet/animal profile. Applicants, please go to this link: https://rentvivid.petscreening.com/

Keeping pets on the premises is not a right, it is a privilege. Tenants must submit a pet application fee(s) of $15 and a minimum non-refundable pet fee(s) of $300 per pet paid online before receiving keys to the property. Fees and deposits are waived for medically necessary pets. A digital photo of your pet(s) must be submitted to the pet screening company.

Some Homeowner and Condominium Associations may require a separate application. If such is the case, you must also apply separately to such association and approval by the homeowners or condo association is a necessary pre-requisite to our approval of your application. Any exceptions to these criteria will need to be submitted in writing to Vivid PM for consideration. If approval is then given for such exceptions, additional security deposit, co-signers and/or “higher” rent may be required.

11. OTHER

Rents quoted are the rental amounts due if paid online, on time, (on or before the 1st of each month by 5:00 PM)

Keys will be released on the first (1st) day of occupancy as stated in the lease agreement. Request for keys earlier must be accompanied with additional pro-rated rent and must have Vivid PM prior approval.

Security deposits are security for faithful performance by tenants of all terms, covenants, and conditions of the lease agreement and tenants may not dictate that the security deposit be used for any rent due. Unless claimed due to a breach of the lease of damages, the security deposit is refundable when the tenants move out of the property at the expiration of the lease term. This security deposit may be used towards cleaning, carpet cleaning, damages, etc. as per the lease. Residents shall still be liable for amounts for damages, cleaning, etc. that exceed this security deposit amount.

Maintenance and Repair - When you rent a home from our company, we strive to ensure that all items are in good working order. Please report any maintenance or repair request during your first five (5) days of possession.

Multiple Applications - We process applications in the order they are received. Once processed your conditional approval or denial will be communicated to you. For Approvals: In order to secure the property for you and your family you are strongly encouraged to pay your hold deposit as quickly as possible. Additional applications will be processed as they are received. The first applicant(s) to pay the holding deposit will be awarded the lease and the property will be taken off the market. Other applications may be offered a backup position if they were already processed. If the approved applicant does not follow through with renting the property, the holding deposit may be retained to cover expenses from when the home was removed from being actively marketed. The payment of a holding deposit will give the applicant no more than 30-days to move into the home unless prior approval in writing was given to the applicant

This “Rental Process and Application Disclosure” is hereby made an integral part of my/our rental application. I/we do hereby acknowledge that I/we understand and agree to the terms of application and rental process as described herein. I/we further acknowledge that I/we have seen and previewed the rental property (both inside and outside) for which we are applying.

Reporting to Credit Bureau - Our company policy is to report all non-compliances with terms of your rental agreement or failure to pay rent, or any amounts owed to the credit bureau and/or a collection agency and if the amount is disputed, it shall be reported as disputed in accordance with the law.

Keys or Access Devices - We’ll furnish keys and/or access devices only after:

Thank you for applying to Vivid Property Management! If you need additional assistance with this process, please email