APPLICATION CRITERIA
Moreover, a Rising Tide property is still considered “available” and/or “vacant” until:
- Landlord accepts the security deposit
- Landlord and applicant sign a Rising Tide lease.
Frequently Asked Questions
The maximum occupancy for our properties is two (2) persons per bedroom, plus one (1) per home.
The primary applicant must be 19 years or older to lease a home.
Each applicant must be able to provide a government-issued identification card and/or Social Security Card or worker ITIN number. Non-U.S. citizens will be required to show proof of imigration status. The provided ID card must be issued by a federal, state or local government agency and include a photograph, name and date of birth.
A credit report will be obtained on all adult leaseholders to verify credit worthiness. We will also perform a search of Landlord/Tenant Court records and a Criminal Background check. A FICO score below 600 will likely result in a decline. Any history of bankruptcies, especially open and/or pending, may result in the denial of your application.
If an applicant has a bankruptcy on record, the bankruptcy must be discharged for at least 24 months. If a bankruptcy was discharged within the past 24 months, or a balance is owed on any judgement made against the applicant, the rental application will be automatically denied. Any unlawful detainer or judgement against a tenant within 5 years of application date is an automatic disqualifier, even if the amount owed was paid in full.
Applicants must have net (bring home) monthly income equal to or greater than three (3) times the monthly rent amount, or liquid assets (bank deposits, mutual funds, brokerage account assets, etc.) that are equivalent to a minimum of 3 times the amount of the total lease value. Income will be verified by one or more of the following methods as required by the Manager. If you have poor credit and/or no rental history the amount of time on your job will be taken into consideration! Acceptable forms of income verification are: 2 most recent original paystubs; employment new hire letter on company letterhead; prior year’s tax return; or past 3 months’ bank statements. We do not accept cash income in the total net income calculated. For self–employed applicants, Rising Tide Management will accept a copy of the prior year’s tax return or a certified verification from your bank along with documentation of “doing business as” registration. Housing allowances are acceptable as verified income, and disability payments will be accepted as income if the payments are government-backed. Social Security will also be treated as standard income. Court ordered income, child support, and alimony will be accepted as verifiable income if the appropriate documents show that the balance owed is current and the applicant has received 6 months of recent consistent payments.
Two of the most recent pay stubs for each applicant;
An offer letter from your new employer on company letterhead;
A copy of previous year’s tax return or a copy of your W-2 statement with phone verification of employment;
An official letter providing retirement or disability income or social security benefits if applicable;
An original court ordered document reflecting payments of child support or alimony;
Proof of pension fund payments, 401k or other investment fund accounts if applicable.
***Any people wishing to reside together that are unmarried must qualify individually for the property unless each tenant has a credit score of 700 or better***
Management will verify at least two (2) years of acceptable rental history. If your rental history discloses an eviction or judgement within the last 5 years, your application will be denied. For homeowners of two years or more, positive mortgage payment history must be provided evidencing no more than 3 late payments per year. If an applicant has no prior rental history, it will not be used in determining whether the applicant is approved or denied.
Co-signers and Guarantors may be used for applicants who have inadequate net monthly income, credit or rental history. A Guarantor cannot be used where applicants have a criminal record. Co-signers must fill out a separate rental application, pay the application fee, provide proof of a monthly income of at least five times the monthly rent for the house they are guaranteeing and will be accepted at the sole discretion of Management.
***Any people wishing to reside together that are unmarried must qualify individually for the property unless each tenant has a credit score of 700 or better***
Often times roommates and unmarried couples wish to reside together but circumstances change leaving one tenant residing in the property and another one choosing to vacate. Because these type of disputes are not settled in court as a divorce is it is required that tenants applying as roommates or unmarried couples qualify individually. Rising Tide may make exceptions to this policy.
A security deposit is required upon execution of a Lease. The standard security deposit is equal to one month’s rent. Deposits are refundable upon move-out, less any charges assessed for damage to the property and any unpaid balance owed at the time of move-out. Deposits may not be applied to first month’s rent or towards rent at any time during the residency. Further, FICO scores below 600 could possibly require a 2-month deposit. In the event that we are unable to verify rental history, the minimum deposit requirement is 2 months’ rent.
Landlord will perform a criminal history investigation in order to verify the information you have provided on the rental application. A criminal background check must be conducted for each applicant and occupant age 18 years or more. Any decision regarding the rental property may be influenced by the information contained in the criminal investigation report. The Landlord reserved the right to refuse leasing to an applicant with any criminal history (arrest and/or conviction).
A Rental Application will be automatically denied if any applicant or occupant has been convicted of or has received deferred adjudication for:
❖ Any federal felony offense (or offense in another jurisdiction classified in a category similar to a federal felony offense) related to property damage or of a violent or sexual nature.
❖ Misdemeanor offenses for which a person is required to register as a sex offender.
❖ Any federal felony offense (or offense in another jurisdiction classified in a category similar to a federal felony offense) related to the manufacture or distribution of controlled substances occurring within the past seven years.
Pets are prohibited unless expressed written consent is provided Management at the time of leasing. All requests to have pets must be made to the Landlord in writing if obtaining a pet post-leasing. All pets must be approved in writing and pet fees paid in full prior to incorporating said pet into the home.
Stipulations: No more than three (3) pets may be at the Premises regardless of whether a pet is visiting or approved in accordance with the Lease. The combined weight of all animals in the home may not exceed 150 pounds, and no single pet may weigh more than 85 pounds.
Pet Fee: Any occupant with an approved pet (cat or a dog) shall pay Landlord a non-refundable Pet Fee of $500 covering up to three pets. The Pet Fee shall be waived for any verified guide dog or assistance animal. Any animal may be deemed unacceptable by Landlord if such animal is not considered appropriate for the rental situation. No chained animals will be permitted. The following dog breeds and types, whether full or mixed, may be prohibited: Akita, American Bulldog, American Pit Bull Terrier, Bull Mastiff, Chow, Doberman, German Shepard, Great Dane, Husky, Pit Bull, Rottweiler, Wolf or any other breed or type Landlord deems to have similar characteristics.
Exceptions: Notwithstanding the foregoing, any guide dog or other assistance animal needed by a disabled occupant will be permitted upon verification that the resident qualifies as disabled and requires animal assistance.
Any falsification in Applicant’s paperwork will result in the automatic denial of application and applicant will not be given the opportunity of reapplying. In the event that an applicant falsifies his/her paperwork, applicant will forfeit all deposits and fees paid.
Any falsification in Applicant’s paperwork will result in the automatic denial of application and applicant will not be given the opportunity of reapplying. In the event that an applicant falsifies his/her paperwork, applicant will forfeit all deposits and fees paid.
**** We no longer accept Rhino Insurance for our homes. ****
What is Rhino?
Rhino is a third-party company that insures tenant damages and rent should there be damages or unpaid rent upon move out.
Rhino payments are paid directly to Rhino.
Rhino claims are only executed if there is a balance due from tenant damages, a broken lease or back rent.
Rhino auto-renews every year and must be maintained during the tenant’s entire duration of tenancy unless the tenant pays a security deposit in full.
Money paid to Rhino is not refundable to the tenant like a security deposit. It is an insurance premium like car insurance.
What happens at the end of my lease?
At the end of your lease the policy will AUTO-RENEW unless you specify otherwise. If you decline to renew your policy you will have to pay the full security deposit. Rising Tide must maintain either a security deposit or Rhino policy each tenant. This is non-negotiable.
If Rising Tide must file a claim with Rhino on your behalf any payment made from Rhino will apply to your account with Rising Tide and any financial obligation to Rhino will be handled with them directly.
Can I cancel my Rhino Policy?
-No, you cannot cancel the Rhino Policy unless all obligations with Rising Tide are fulfilled. Rhino policies cannot be cancelled during tenancy and if you decline to renew coverage an automatic security deposit charge will be put on your ledger. Any payments received will automatically apply to the security deposit first. Canceling your Rhino Policy without agreeing to pay your security deposit in full is a violation of Rising Tide’s lease.
Do I still need Renter’s Insurance?
Renters insurance is separate from a Rhino Policy. You are responsible for renter’s insurance as it will cover your belongings and expenses should you be impacted by something covered by your renter’s insurance policy. Rising Tide will not cover any expenses from failure to obtain a renter’s insurance policy.
If you have questions about your Rhino Policy, you can reach out to Rhino by emailing SUPPORT@SAYRHINO.COM.
The maximum occupancy for our properties is two (2) persons per bedroom, plus one (1) per home.
The primary applicant must be 19 years or older to lease a home.
Each applicant must be able to provide a government-issued identification card and/or Social Security Card or worker ITIN number. Non-U.S. citizens will be required to show proof of imigration status. The provided ID card must be issued by a federal, state or local government agency and include a photograph, name and date of birth.
A credit report will be obtained on all adult leaseholders to verify credit worthiness. We will also perform a search of Landlord/Tenant Court records and a Criminal Background check. A FICO score below 500 will likely result in a decline. Any history of bankruptcies, especially open and/or pending, may result in the denial of your application.
If an applicant has a bankruptcy on record, the bankruptcy must be discharged for at least 24 months. If a bankruptcy was discharged within the past 24 months, or a balance is owed on any judgement made against the applicant, the rental application will be automatically denied. Any unlawful detainer or judgement against a tenant within 5 years of application date is an automatic disqualifier, even if the amount owed was paid in full.
Applicants must have net (bring home) monthly income equal to or greater than three (3) times the monthly rent amount, or liquid assets (bank deposits, mutual funds, brokerage account assets, etc.) that are equivalent to a minimum of 3 times the amount of the total lease value. Income will be verified by one or more of the following methods as required by the Manager. If you have poor credit and/or no rental history the amount of time on your job will be taken into consideration! Acceptable forms of income verification are: 2 most recent original paystubs; employment new hire letter on company letterhead; prior year’s tax return; or past 3 months’ bank statements. We do not accept cash income in the total net income calculated. For self–employed applicants, Rising Tide Management will accept a copy of the prior year’s tax return or a certified verification from your bank along with documentation of “doing business as” registration. Housing allowances are acceptable as verified income, and disability payments will be accepted as income if the payments are government-backed. Social Security will also be treated as standard income. Court ordered income, child support, and alimony will be accepted as verifiable income if the appropriate documents show that the balance owed is current and the applicant has received 6 months of recent consistent payments.
Two of the most recent pay stubs for each applicant;
An offer letter from your new employer on company letterhead;
A copy of previous year’s tax return or a copy of your W-2 statement with phone verification of employment;
An official letter providing retirement or disability income or social security benefits if applicable;
An original court ordered document reflecting payments of child support or alimony;
Proof of pension fund payments, 401k or other investment fund accounts if applicable.
***Any people wishing to reside together that are unmarried must qualify individually for the property unless each tenant has a credit score of 700 or better***
Management will verify at least two (2) years of acceptable rental history. If your rental history discloses an eviction or judgement within the last 5 years, your application will be denied. For homeowners of two years or more, positive mortgage payment history must be provided evidencing no more than 3 late payments per year. If an applicant has no prior rental history, it will not be used in determining whether the applicant is approved or denied.
Co-signers and Guarantors may be used for applicants who have inadequate net monthly income, credit or rental history. A Guarantor cannot be used where applicants have a criminal record. Co-signers must fill out a separate rental application, pay the application fee, provide proof of a monthly income of at least five times the monthly rent for the house they are guaranteeing and will be accepted at the sole discretion of Management.
***Any people wishing to reside together that are unmarried must qualify individually for the property unless each tenant has a credit score of 700 or better***
Often times roommates and unmarried couples wish to reside together but circumstances change leaving one tenant residing in the property and another one choosing to vacate. Because these type of disputes are not settled in court as a divorce is it is required that tenants applying as roommates or unmarried couples qualify individually. Rising Tide may make exceptions to this policy.
A security deposit is required upon execution of a Lease. The standard security deposit is equal to one month’s rent. Deposits are refundable upon move-out, less any charges assessed for damage to the property and any unpaid balance owed at the time of move-out. Deposits may not be applied to first month’s rent or towards rent at any time during the residency. Further, FICO scores below 600 could possibly require a 2-month deposit. In the event that we are unable to verify rental history, the minimum deposit requirement is 2 months’ rent.
Landlord will perform a criminal history investigation in order to verify the information you have provided on the rental application. A criminal background check must be conducted for each applicant and occupant age 18 years or more. Any decision regarding the rental property may be influenced by the information contained in the criminal investigation report. The Landlord reserved the right to refuse leasing to an applicant with any criminal history (arrest and/or conviction).
A Rental Application will be automatically denied if any applicant or occupant has been convicted of or has received deferred adjudication for:
❖ Any federal felony offense (or offense in another jurisdiction classified in a category similar to a federal felony offense) related to property damage or of a violent or sexual nature.
❖ Misdemeanor offenses for which a person is required to register as a sex offender.
❖ Any federal felony offense (or offense in another jurisdiction classified in a category similar to a federal felony offense) related to the manufacture or distribution of controlled substances occurring within the past seven years.
Pets are prohibited unless expressed written consent is provided Management at the time of leasing. All requests to have pets must be made to the Landlord in writing if obtaining a pet post-leasing. All pets must be approved in writing and pet fees paid in full prior to incorporating said pet into the home.
Stipulations: No more than two (2) pets may be at the Premises regardless of whether a pet is visiting or approved in accordance with the Lease. The combined weight of all animals in the home may not exceed 150 pounds, and no single pet may weigh more than 85 pounds.
Pet Fee: Any occupant with an approved pet (cat or a dog) shall pay Landlord a non-refundable Pet Fee of $300 for 1 pet and $500 for two pets. The Pet Fee shall be waived for any verified guide dog or assistance animal. Any animal may be deemed unacceptable by Landlord if such animal is not considered appropriate for the rental situation. No chained animals will be permitted. The following dog breeds and types, whether full or mixed, may be prohibited: Akita, American Bulldog, American Pit Bull Terrier, Bull Mastiff, Chow, Doberman, German Shepard, Great Dane, Husky, Pit Bull, Rottweiler, Wolf or any other breed or type Landlord deems to have similar characteristics.
Exceptions: Notwithstanding the foregoing, any guide dog or other assistance animal needed by a disabled occupant will be permitted upon verification that the resident qualifies as disabled and requires animal assistance.
Any falsification in Applicant’s paperwork will result in the automatic denial of application and applicant will not be given the opportunity of reapplying. In the event that an applicant falsifies his/her paperwork, applicant will forfeit all deposits and fees paid.
Any falsification in Applicant’s paperwork will result in the automatic denial of application and applicant will not be given the opportunity of reapplying. In the event that an applicant falsifies his/her paperwork, applicant will forfeit all deposits and fees paid.
**** We no longer accept Rhino Insurance for our homes. ****
What is Rhino?
Rhino is a third-party company that insures tenant damages and rent should there be damages or unpaid rent upon move out.
Rhino payments are paid directly to Rhino.
Rhino claims are only executed if there is a balance due from tenant damages, a broken lease or back rent.
Rhino auto-renews every year and must be maintained during the tenant’s entire duration of tenancy unless the tenant pays a security deposit in full.
Money paid to Rhino is not refundable to the tenant like a security deposit. It is an insurance premium like car insurance.
What happens at the end of my lease?
At the end of your lease the policy will AUTO-RENEW unless you specify otherwise. If you decline to renew your policy you will have to pay the full security deposit. Rising Tide must maintain either a security deposit or Rhino policy each tenant. This is non-negotiable.
If Rising Tide must file a claim with Rhino on your behalf any payment made from Rhino will apply to your account with Rising Tide and any financial obligation to Rhino will be handled with them directly.
Can I cancel my Rhino Policy?
-No, you cannot cancel the Rhino Policy unless all obligations with Rising Tide are fulfilled. Rhino policies cannot be cancelled during tenancy and if you decline to renew coverage an automatic security deposit charge will be put on your ledger. Any payments received will automatically apply to the security deposit first. Canceling your Rhino Policy without agreeing to pay your security deposit in full is a violation of Rising Tide’s lease.
Do I still need Renter’s Insurance?
Renters insurance is separate from a Rhino Policy. You are responsible for renter’s insurance as it will cover your belongings and expenses should you be impacted by something covered by your renter’s insurance policy. Rising Tide will not cover any expenses from failure to obtain a renter’s insurance policy.
If you have questions about your Rhino Policy, you can reach out to Rhino by emailing SUPPORT@SAYRHINO.COM.