Thank you for your interest in one of our properties and for allowing Intracoastal Realty the opportunity to provide rental services to you. To ensure that the process goes smoothly for all parties and that the governing laws of the North Carolina Real Estate Commission are met, the following guidelines are in effect for all applications.
Disclosure of Landlord
Sub-agency: When showing you and assisting you in leasing a property, the agent and firm will represent the LANDLORD.
Application Submission
- Application must be completed in its entirety and signed by all lease holders.
- All applicable fees must be paid in full at the time of application submission. We accept credit cards (MasterCard & Visa), money order and personal check only. Fee is non-refundable.
- Single applicant $80.00. Due to state rates, the fee is $160.00 for current or previous NY residents and $90.00 for KY.
- Married couple $150.00. Due to state rates, the fee is $310.00 for current or previous NY residents and $170.00 for KY.
- Guarantor/co-signer $80.00 each applicant. Due to state rates, the fee is $160.00 for current or previous NY residents and $90.00 for KY.
- Occupant/Over 18 yrs. $60.00 each occupant (criminal background only). Due to state rates, the fee is $140.00 for current or previous NY residents and $70.00 for KY.
Application Processing
Upon receipt of completed application and applicable fees your application will be sent to processing.
On average applications are sent to management for approval within 48 hours, provided all the information you provide is correct and can be verified. In the event that your information cannot be verified as submitted, you may be asked to provide additional information to complete the processing.
Applications remain in processing until the following requirements are received and processed:
- Employment/Income: Monthly gross income must be 3 times the rental amount. Otherwise, a co-signer may be allowed for applicants not meeting the income requirements. If applicant is retired or unemployed, a statement indicating the source and amount of income may be required. If applicant is a full-time student, a co-signer may be required to guarantee performance of the lease. Each applicant must qualify to pay the rent in its entirety. Phone and fax numbers are required on all verification sources.
- Rental History: Previous and/or current housing information will be obtained from previous and/or current landlord or Mortgage Company. References should reflect the applicant’s ability and willingness to comply with lease terms and community guidelines. Any money judgment or collection issued within the past three (3) years may disqualify an applicant. Phone and fax numbers are required on all verification sources.
- Criminal Background: A criminal background check will be run on all applicants and occupants the age of 18 yrs. and over. Application rejection may occur for any of the following reasons, including but not limited to: felony conviction, misdemeanor, active probation status or any active status as well as any sexual related convictions.
- Eviction Search: An eviction background will be run on all applicants. Application rejection may occur for any evictions within the past three (3) years.
- Credit History: Each applicant must have an acceptable credit report with no judgments, collections, or charged off accounts within the past twelve (12) months. Credit history should positively reflect the applicant’s ability and willingness to make payments as required by the lease. Exceptions may be allowed for medical bills and student loans.
- Occupancy: No more than two (2) persons per bedroom and no more than three (3) unrelated persons are allowed in a dwelling. Anyone occupying the dwelling for more than two weeks at a time is considered an occupant and must be listed on the lease.
Application Approval
Upon receipt of all required verifications and references applications will be sent to Management for approval. Once approved by management, the applicant will be notified that they are approved and arrangements for lease preparation and move-in will be made.
First Month’s Rent Payment
I understand that I must pay the entire first month’s rent within 24 hours of approval of application. If I do not pay the entire first month’s rent within 24 hours, the property will not be held for me. I understand that this is a non-refundable fee if I decide not to take possession of the property. Otherwise it will apply towards my first full month’s rent.
Multiple Applications
In the event a property that you have interest in has an application(s) currently in process at the time you submit your application, you will be told that we have an application in process. We encourage you to submit your application and to complete the approval process. If this property is taken before your application process is completed and approved, there are others to choose from and you will be able to move forward quickly.
Properties are not placed on hold or made unavailable to other applicants because an application is in process. It is our responsibility to the owner to make their property available to all applicants until an applicant is approved and has secured the property.
Leases
Once the first month’s rent has been paid, the lease must be signed within 24-48 hours; otherwise, the property will be placed back on the market again and the first month’s rent will be forfeited.
Please complete the questionnaire below to start the application process.
Prospective Tenant Questionnaire
Learn more about our long-term rental properties here.
