Woodminster at your Service
Rental Application FAQ
We receive an enormous volume of email for rental application related questions, so we ask that you please our FAQ section carefully prior to contacting us.
If you do have a question not covered in this section or require additional clarification, please contact one of our application specialists for assistance.
How much of a deposit do I need?
Under normal circumstances we require a deposit equal to one months rent. There are scenarios where we may require an increased deposit (income or credit issues for example) to approve an application.
What happens if multiple applicants apply for the same property?
In the case of multiple applications we will accept the most qualified applicant. We review credit and rental history on all processed applications and our approval decision is derived from a point system driven mainly by credit history. We do not operate on first come, first save basis for applicant approval.
What are you income requirements?
At a minimum, all applicants must earn a combined gross income equal to or exceeding three times the monthly rent. A co-signer and increased deposit may be required if your income does not meet minimal requirements.
What are your credit requirements?
All rental applicants must have a minimum 600 FICO score to qualify. If your FICO score is between 575 and 600, you may qualify with the addition of a cosigner. The cosigner must have a minimum FICO score of 600. An increased deposit may be required.