Rental Application Fee Disclosure Statement
As part of your rental application, a rental application fee may be collected to facilitate a screening and background check.
This Rental Application Fee Disclosure Statement (“Disclosure Statement”) outlines certain information related to your rent application fee.
You are notified of and acknowledge and agree to the following:
- Prior to paying the rental application fee, you have received a copy of the Disclosure Statement and all referenced exhibits.
- Your application will be judged based on the criteria attached as (the “Criteria”).
- We have disclosed the rental application fee to you, including in any advertisement and postings related to the available rental unit and the actual rental application fee charged is consistent with those disclosures.
- In the event the rental unit that you applied for is not available, you agree that we may place you on our waiting list for no more than 30 days.
- The screening process for our rental units includes a review of the referenced Criteria, including as may be completed through a third party. The name and contact information for the screening agency used is: AppFolio, Inc 50 Castilian Dr. Santa Barbara, CA 93117 866-359-3630
- The rental application fee listed consist of the the below charges. Applicant acknowledges that we may incur such costs which are reasonable and necessary to to complete the screening and background check process.
- $15.00 – 1 Credit, 1 criminal, 1 eviction screening
- $15.00 – Each additional credit, criminal, eviction screening
- $30.00 – Landlord Verification (2 years) , Employment and income verification (6 months)
- $25.00 – Office time to add the applicant to software and review application/background/credit, income and employment.
- $10.00 – Denial notification letters and mailings.
- You will be provided with any paperwork or copies of electronic correspondence generated as a result of the screening process, to the extent permitted by State and Federal Law. In the event that you are not approved for a rental unit, you will receive a notice explaining the reason(s) along with a list of resources that you may use to assist with future application processes. Any correspondence related to this Disclosure Statement will be mailed to the current address provided by the applicant via US Mail.
Within thirty (30) days of receipt of a denial, the applicant may, if he or she believes the City Ordinance has been violated, file a written complaint with the City Manager or the City Manager’s Designee, addressed to : City Manager, City of Grand Rapids, 300 Monroe Ave NW # 1, Grand Rapids, MI 49503, Attention: Rental Application Fee Ordinance Complaint.
We are an equal opportunity housing provider.
ALL APPLICATIONS MUST BE COMPLETE WITH PROOF OF GROSS INCOME FOR 6 MONTHS (before taxes) AND 24 MONTHS OF RENTAL HISTORY BEFORE PROCESSING WILL BEGIN. IF SUPPORTING DOCUMENTS ARE NOT RECEIVED WITHIN 72 HOURS YOUR APPLICATION WILL BE CANCELLED AND YOU WILL HAVE TO RE-APPLY.
The following is our procedure in evaluating applicants.
- Compass will process incoming applications in the following order:
- First: All complete applications received with an attached security deposit will be processed on a first come first processed basis.
- Second: All complete applications received without an attached deposit will be processed on a first come first processed basis.
- A rental home is removed from the market when we have an approved application with a security deposit paid with certified funds.
- Each person over 18 years of age must complete a separate application. Children under the age of 18 must be listed on the application only.
- Criminal history. No occupants can have a felony within the past five (5) years. No occupants can have more than one (1) felony.
- Income verification. Gross combined household monthly income for all leaseholders must be verifiable and a minimum of 3 (three) times the monthly rent for at least the last six (6) months.
- 2 Years of Good rental history. If you do not have any successful rental history, a cosigner may be required to guarantee the financial obligations of the lease. Housing references must be verifiable; family members and friends are not considered acceptable references. Unsuccessful rental history includes, but is not limited to: evictions, disturbances, unauthorized pets, pattern of late payments, damage to the residence or money owed to past landlord.
- Good credit history. Bankruptcies must be dismissed and have 1 year of good credit history. All utility accounts must be current for gas, electric and water. If you have a negative credit report, we will accept a co-signer or higher deposit to guarantee the financial obligations of the lease.
- Cosigners must prove gross monthly income of 5 (five) times the monthly rent. Instate co signers must have a minimum 650 Credit Score, out-of-state cosigners must have a minimum Credit Score of 700. The cosigner must be over the age of 18 and not living in the apartment you are applying for. The cosigner must complete a separate application. We will be running their credit report as well to verify their credit history.
- Many of our properties have different pet policies. If dogs are allowed, certain breeds are restricted such as Pitt Bulls, Doberman Pinschers, German Shepherds, Rottweilers, and more. There may also be weight restrictions. Cats must be declawed and neutered/spayed. Please check with the leasing department about pet policy. Dogs and cats are an additional rent charge.
- Fees – Non-Refundable — Application Fee per applicant. Lease Administration Fee: $100.00 is due at time of move-in, this is a one-time, non-refundable fee. Pet application fee – $250.00 due to have pet background check.
- Security Deposits – Must be paid with money order or cashier’s check. If application is approved, and applicant secures the property, the property is removed from the market and made unavailable to other applicants. The security deposit will not be refunded if applicant chooses not to sign a one-year lease. No property will be held more than 30 days off the market.
- The applicant agrees that all documents necessary for processing must be submitted when applying. Incomplete applications will be cancelled after three days. Any attempt to submit false information will result in automatic denial without exception.
- This criteria is subject to change without notice.
- This criteria subject to additional provisions on specific rental units not managed by Compass Property Management. Any and all additional screening criteria will be listed in the vacancy advertisement.
We aim to process received applications within 4 business days. When an application is approved or disapproved we will contact you. Disapproved applications will be mailed an adverse action letter explaining why the application was denied. This letter will be mailed to the current address listed on the application.
DISCLOSURE OF AGENCY: Michigan law requires real estate licensees who are acting as agents of Landlords (Sellers) or Tenants (Buyers) of real property to advise the potential landlords or tenants with whom they work of the nature of their agency relationship. COMPASS PROPERTY MANAGEMENT IS A LANDLORD’S (OWNER’S) AGENT. A Landlord’s agent, under an agreement with the Landlord, acts solely on behalf of the Landlord. A Landlord can authorize a Landlord’s agent to work with subagents, tenant’s agents and/or transaction coordinators. A subagent of the Landlord is one who has agreed to work with the listing agent, and who, like the listing agent, acts solely on behalf of the Landlord. Landlord’s agents and their subagents will disclose to the Landlord known information about the tenant which may be used to the benefit of the Landlord.
(Revision: October 18, 2018)