317-883-9790

Application Process and Tenant Selection Criteria

Learn about the ES Property Management application process and tenant selection criteria.

4.9
215 Google Reviews
image-information-you-need

What To Know Before Applying for a Rental Home

   All adult applicants 18 and older must submit a fully completed, dated, and signed rental application and pay the application fee.

   You will need to create a pet profile as part of your application. Please follow the directions on the application when asked to create your pet profile. Every applicant must do this, even if they are applying in a group and do not have a pet.

   Shortly after paying for and submitting your application, you will receive a link to upload your income documentation to our third-party income verification service.

   No rental property will be held vacant for more than two (2) weeks unless approved by ES Property Management.

   Current occupancy standards are a maximum of 2 persons per bedroom, except for infants under 4 years of age.

   Incomplete applications will not be processed.

Cost

If you decide to apply to rent one of our properties, there is a non-refundable application fee of $75 per adult that must be submitted with your application. Incomplete applications will not be processed.

Income Verification

We use a third-party income verification service. They help detect fraud and allow us to verify an applicant's income better. After an application has been successfully submitted, we will send you an email to upload your income documentation to our third-party income verification service.

img-application-process

The Application Process

Upon receipt of your rental application and application fee, we will:

   Check your credit report

   Check the public records for any past interactions with the eviction process

   Verify your employment

   Verify your previous rental history and references

   Conduct a criminal background check

Tenant Selection Criteria:

  Applicants must have a combined gross income of at least three (3) times the monthly rent. Incomes must be verified in writing, and applicants may provide recent pay stubs.

  A minimum of two years of residential history is required. Rental history must be rated satisfactory or better, with no record of interactions with the eviction process. We reserve the right to require a higher security deposit.

 Credit history and/or Civil Court Records must not contain rental judgments, eviction filings, rental collections, or liens, unpaid child support, more than 4 unpaid bills in collection, records of lease violations, and unpaid judgments to landlords.

  If you have bad credit, bad rental history references, have been engaged in the eviction process, or have any felonies within the last 7 years for illegal manufacture or distribution of a controlled substance, felonies resulting in bodily harm or intentional damage or destruction of property (for example, “arson”), you will either be declined or may be required to post an additional security deposit as a part of your approval. In addition, Co-signers/Guarantors may be considered on an individual basis. Sexually related offenses for any time period will be declined.

 A co-signer is required for all applicants who have a "No Credit" credit score.

img-rhino

Security Deposit Determination

We use a risk-based deposit model.

The security deposit will never be less than one and a half months' rent. In some cases, we will ask for a higher deposit (up to 3 months' rent) depending on several factors detailed in our rental requirements. 

img-credit-score-01

Credit Score-Based Risk Mitigation Admin Fee

All lease transactions involve risk. Offering approval based upon a total credit score below 700 comes with more inherent risk.

However, we can offer approval even to tenants with very low credit as long as they can pay the additional fee associated with their credit scores to offset the risk involved. If there are co-applicants, there is only one Risk Mitigation Fee per lease.

Risk Mitigation Admin Fees for Applicants:

credit-score-chart-1


Note: any credit score under any credit score under 600, (300-599) will be automatically declined due to bad credit. A cosigner cannot assist an applicant with a credit score below 600.

A co-signer can only assist if an applicant has no credit. However, a credit score above 600 does not automatically guarantee acceptance.

Common Denied Lease Approvals

Note: This list is not exhaustive.

   An incomplete application. Applicants will have one week to provide all documentation and information needed to process their application after submitting it. If there has been no communication during this week, the application will be denied.

   Previous rental history reports from current/previous landlords that reflect too many late payments/NSF checks, lease violations, outstanding debt, or damage to the property can result in a denial.

   No pets (with the exception of legally defined assistance or service animals) of any kind are permitted without knowledge and approval by ES Property Management.

The following pets will not be accepted under any circumstances:

  • Wolf Dog/Wolf Hybrids
  • German Shepherd
  • Doberman
  • Pitbull
  • Chow
  • Presa Canario
  • Akita
  • Mastiff/Bullmastiff
  • Caucasian Shepherd Dog
  • Cane Corso
  • Great Dane
  • Rottweiler
  • Belgian Shepherds (all types)
  • Or any mix of above breeds
Dogs in excess of 75 pounds will need owner approval. If a pet is authorized by ESPM, there will be an additional $500 added to your risk-based security deposit and a one-time $75 pet administrative fee per pet (max 2 pets).

Once Approved

   Once you have been notified of your approval and you have chosen to accept your offer, you must send a written acceptance to us. You will then be sent a lease.

   You must sign your lease and pay your Security Deposit and any Risk Mitigation Admin Fee, via certified funds, within 48 business hours of your approval notification. Once approved and these amounts paid, they are non-refundable.

   In the event that you fail to enter into the lease agreement or refuse to take possession of the property on or before your approved move-in date, you shall forfeit these funds as liquidated damages.

   The first month’s rent must also be paid via certified funds within 72 hours before your approved move-in date.

   If an applicant applies for a property not yet ready for an in-person viewing, the applicant may waive viewing the property before applying. If an application accepts an offer prior to viewing the property, the applicant agrees the property is accepted “as is.”

  Once a lease has been executed, the applicant waives the right to withdraw from the lease due to the failure of the applicant to view the property for any reason and assumes all risks associated with their failure to view the property.

We want to talk to you if you own one property or a hundred. We’re here for you if you’re planning a purchase, looking to sell, or needing help with property management in Indianapolis.

Contact Us
Navigation
Contact Us
3091 E. 98th St., Ste. 280
Indianapolis, IN 46280

Phone:
T 317-883-9790
F 317-465-1601

Subscribe to Our Blog

Subscribe to receive real estate investing best practices and news.
property_management-indianapolis-2020-clr
in_indianapolis_property-management_2020_inverse
in_indianapolis_property-management_2022_inverse
in_indianapolis_property-management_2023_inverse
in_indianapolis_property-management_2024_inverse
Trust ANalytica logo
logo-narpm
Equal-Opportunity-Logo-01
logo-realtor
logo-mibor
CIV-Logo-gold
EPA_Leadsafe_Logo_NAT-F256397-1
2024 All Rights Reserved.  |  Privacy Policy   |  Employee Login

ES Property Management is committed to ensuring that its website is accessible to people with disabilities. All the pages on our website will meet W3C WAI's Web Content Accessibility Guidelines 2.0, Level A conformance. Any issues should be reported to Rentals@indianapolispropertymanagement.com

Provide equal professional service without regard to the race, color, religion, gender (sex), disability (handicap), familial status, national origin, sexual orientation or gender identity of any prospective client, customer, or of the residents of any community.

Back To Top