Rental Application Process with 5 Star Property Management

As an interested applicant, you will always want to make sure that you complete the application process promptly. Whether it’s your first time submitting a rental application or not, it’s important to know that completing the rental application is vital to get approved. 

Applications are processed on a FIRST-COME, PRE-QUALIFIED, FIRST-SERVE BASIS; and, without regard to race, color, religion, disability, sex, sexual orientation, gender identity or expression, age, national origin, veteran status, genetic information, union status, and/or beliefs, or any other characteristic protected by federal, state, or local law.

What does a pre-qualified applicant look like? An application is considered pre-qualified if the below has been successfully satisfied/completed:

• All Occupants/Tenants above 18 years of age have submitted an application.
• The application fee has been paid for each occupant/tenant above 18 years of age.
• Completed all necessary documents listed on the rental application form.
• Valid Social Security number or Tax ID number
• Verifiable income showing collective net income of at least three times the monthly rent.
• Have at least 12 months of verifiable rental or mortgage history on present or previous residences, showing a positive rental history without evictions, failure to pay rent records, improper notice to vacate records, or lease complaints/violations.
• Be able to take possession of the property within two weeks from the availability date
• For benefit holders:
  • Verifiable income showing collective net income of at least three times the tenant's rent portion.
  • Benefits verification letter

Table of Contents on the Rental Application Process

Written below are the steps on what the rental application process looks like. Typically, this will take one to three (1-3) business days. However, there are times when one application might take longer than usual due to uncontrollable circumstances. 

1. Applicant Information
2. Payment of Application Fee
3. Credit and Background Check
4. Employment and Income Verification
5. Rental History Verification
6. Animal Screening Verification
7. Rental Owner Approval
8. Lease Draft and Signing

Applicant Information

Applicants are asked to enter their

• Name
• SSN
• Birthdate
• E-Mail, 
• Phone
• Current address
• and a few other questions that’ll be relevant to the application. 

Please be aware that any false information provided on your application will be grounds for denial.

Payment of Application Fee

The application fee will be charged to the account once it’s your turn. The fee is used to cover the administrative, hard, and soft costs of processing individual rental applications. They cannot be ordered/processed collectively or combined.

Credit and Background Check

In evaluating the application, the consumer reporting agency (TransUnion LLC) provides information that in whole or in part influences the approval or denial decision. TransUnion LLC and Vantage Data Solutions provide us with credit and criminal record information. For applicants who have questions about their report(s), they have the right to dispute the matter with the reporting agency that has provided the report, not through 5 Star Property Management. The reporting agency can be reached through RentPort consumer relations at 1- 800-230-9376 or consumer_relations@rentport.com.

Employment and Income Verification

This is one of the essential parts of the tenant screening process. These data ensure that one can afford the rental property desired by an applicant. While 5 Star Property Management relies on various forms of information to determine if a tenant can afford to rent the property, it’s recommended that these be filled out with all honesty with sources showing the current total net income.

Animal Screening Verification

Each animal that will live on the property is required to undergo a screening process with our affiliated company - PetScreening.com 

What is PetScreening?

“PetScreening is a simple and secure way to manage important information about your pet or assistance animal. If you have no pet or animal, you are not required to complete the screening process.

The per-pet application fee is as low as $20 for the first pet and $15 for every additional pet. Each pet profile must be processed separately, but the multi-pet discount will be automatically applied to any additional pet profiles processed.

There is no charge ($0) for submitting a reasonable accommodation request for an assistance animal. It will be reviewed by our legal review team per the Fair Housing Act guidelines. Please be aware of your state's statutes or local ordinances, if any, for criminal offenses and/or penalties for committing assistance animal fraud.”

Source: Petscreening.com

Rental History Verification

The rental verification assists 5 Star Property Management in verifying the rental history of an applicant. In this process, the applicants are asked to sign the Authorization to Release Information to allow us to call/email/text their listed landlord and ask for information in reference to their rental history. This allows us to get more accurate data on how rent payments were delivered, if there were any problems during the lease, or if there had been any complaints. Please know that our decision is based on the information only and not on hearsay; thus, we make sure that we do this objectively.

Rental Owner Approval

Once all the above information has been gathered, 5 Star Property Management objectively summarizes them and presents it to the rental owners for final approval. Once the decision has been made, it’ll be relayed to the applicant(s).

Lease Drafting and Signing

Upon getting approval, two things take place immediately:

Finalizing Move-in Date

Move-in date is tentatively scheduled as submitted on the rental application. The applicant is asked if there are any changes to it and arThe move-ine reminded how the keys will be handed off.

Lease Packet Drafting and Signing

The lease packet will be drafted within 1-2 business days and sent to the applicant electronically for review and signature. The lease packet contains all the necessary documents related to the tenancy, including but not limited to:

• Residential Lease Agreement
• Property Rules and Regulations
• Lead-Based Paint Disclosure (if applicable)
• Move-In Procedures
• Utility Information
• Addendums and Disclosures
• Pet Addendum (if applicable)

All applicants listed on the lease who are 18 years of age or older are required to review and electronically sign all lease documents before move-in. Failure to complete the signing process within the specified timeframe may result in delays or forfeiture of the approved application.

Security Deposit and Initial Funds

Once the lease has been signed, applicants will be required to submit the security deposit and any other required move-in funds within the timeframe provided. Approved applicants will receive detailed instructions regarding payment methods, due dates, and move-in procedures.

Please note that the property will not be considered secured until all required funds have been received and all lease documents have been fully executed by all parties.

Move-In Preparation

After all documents have been signed and funds have been collected, our team will coordinate the final move-in details. Applicants will receive information regarding:

• Key pick-up instructions
• Utility transfer requirements
• Resident portal access
• Property condition documentation
• Emergency maintenance contact information

Residents are encouraged to complete a thorough move-in inspection and document any existing conditions within the timeframe specified in the lease agreement.

Application Approval and Denial

Applications are evaluated according to the rental criteria set in the property's owner 5 Star Property Management and the owner of the property. The minimum rental requirement is not a guarantee of approval, since multiple applications that meet the criteria could be submitted on the property.

In the event that an application has to be refused or granted with additional conditions, based on information from the consumers report, the applicant will be issued the Adverse Action Notice as required by law. This notice will provide details about the consumer reporting agency used in the screening procedure.

Important Reminders

• Applications are processed in the order they become fully completed and pre-qualified.
• Incomplete applications may delay processing and affect an applicant's position in the application queue.
• All information provided during the application process must be accurate and verifiable.
• Approval decisions are based on established rental criteria and property owner requirements.
• Application fees are non-refundable once screening has begun.
• Approved applicants are expected to take possession of the property within the approved timeframe.

We are grateful for the interest you have in renting with 5 Star Property Management and are looking forward to supporting with the application and move-in procedure. If you have any questions about your application status, or the renting process, please call our office for assistance.