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GRG requirements to rent

Lake County How to Apply

1. REVIEW OUR RENTAL REQUIREMENTS

OUR STANDARD REQUIREMENTS:

  • A credit score of 625 or higher
  • All applicants must demonstrate income equal to 3x the monthly rental payment for which they are responsible
  • A satisfactory, verifiable rental reference with current Landlord
  • All applicants intending to be Leaseholders must be age 18 or older

APPLICATIONS WITH ANY OF THE FOLLOWING WILL BE REJECTED WITHOUT FURTHER DISCUSSION:

  • Falsification of any given information on application
  • Any open bankruptcies
  • Any evictions in the past 5 years
  • Any debt to a current or previous Landlord in the past 5 years
  • Any utility collections within the past 5 years
  • We comply with all local and federal Fair Housing guidelines but any application with unfavorable background check findings will be reviewed and may be denied based on their nature. Any conviction within the last 3 years or any sex related offenses will be denied

BEFORE APPLYING, PLEASE HAVE THE FOLLOWING ITEMS READY FOR SUBMISSION:

  • Showing agent’s name and contact information
  • Current and valid Driver’s License or State ID
  • Valid Social Security number
  • Proof of Income (Paystubs, statements, etc.), all income regardless of source must be verified and contact information must be provided for verification

Self-Employed applicants please have all requested information collected, (See Documentation of Income)

  • Current Landlord’s contact information and dates of residency
  • Past Landlord’s contact information and as dates of residency
  • Pet Photos and vaccination records, if applicable
  • Military Applicants must upload current branch orders and provide Commanding Officer’s contact information

CREDIT:

  • All applicants must have a credit score of 625 or higher. A credit report will be obtained on each applicant to verify credit ratings. Income level plus verification of credit history will be entered into a scoring model to determine eligibility and security deposit levels. Unfavorable findings on credit reports that could negatively affect scores include but are not limited to: multiple inquiries, collections, foreclosures, charge‐offs, repossessions, open bankruptcies, late payments and delinquencies.

CREDIT SCORE:

625 credit score ‐ A credit report will be obtained from each applicant to verify credit ratings. Income level plus verification of credit history will be entered into a scoring model to determine eligibility and security deposit levels. Unfavorable findings on credit reports that could negatively affect scores include but are not limited to: multiple inquiries, collections, foreclosures, charge‐offs, repossessions, open bankruptcies, late payments and delinquencies.

  • One or more applicants (or all) 625 and above = security deposit equal to one month’s rent
  • One applicant 625 or above + one applicant 575‐624 = security deposit equal to two month’s rent
  • Two applicants 575‐624 = security deposit equal to two month’s rent, PLUS a qualified Co‐Signer, (see Co‐Signers)
  • No applicant under 575 will be accepted. The only exception may be an adult child that is a full‐time college student or not contributing to the combined family income in which they are responsible and a non‐leaseholder

CO‐SIGNERS:

A co‐signer may be accepted if credit scores are unfavorable or if applicant has no rental history. The Co‐Signer must also complete our application, meet all application criteria and have a minimum of a 700 credit score. Gross income of co‐signer must meet or exceed 4x the monthly rental price and must be listed as a leaseholder on the lease agreement. A Co‐Signer may be used to assist with credit scores or deficiencies in rental history however, household still must demonstrate income equal to 3x the monthly rental payment for which they are responsible apart from Co‐Signer.

OCCUPANCY GUIDELINES:

  • Maximum occupancy is 2 persons per bedroom. Minors sharing a room must be of the same gender and adults may not share a bedroom with a minor unless the minor is one year of age or under. Some homeowner’s associations or municipalities may have rental occupancy guidelines that supersede this general rule.

RENTAL HISTORY VERIFICATION:

A satisfactory rental reference is required from your current Landlord. If your current Landlord cannot be reached after 3 attempts, the application may get rejected. Any evictions and/or debts owed to a current or past Landlord within the last five years will result in an automatic denial. Applicants that are currently living with family and/or have little to no rental history will require either a Co‐Signer or additional security deposit. Security deposit levels may be increased up to three times the rent to overcome deficiencies in the application and a Co‐Signer may be accepted.

SECURITY DEPOSIT GUIDELINES:

The security deposit held will be equal to one month rent or unless designated otherwise in the listing or designated above, dictated by credit scores. We reserve the right to hold additional security deposit funds if applicant has little to no rental history or if one applicant’s credit score is less than 625, (please see CREDIT SCORE above). Pet deposits are additional and will be calculated based on PetScreening scoring models and/or owner or specifications. Regardless of security deposit levels and/or credit scores, household must demonstrate income equal to 3x the monthly rental payment for which they are responsible.

CRIMINAL HISTORY:

  • A background check will be obtained for each applicant age 18 or older. All criminal records are evaluated from the date of disposition regardless of age at time such offense was committed. We comply with all local and federal Fair Housing guidelines but any application with unfavorable background check findings will be reviewed and may be denied based on their nature. Any conviction within the last 3 years or any sex related offenses will be denied.

DOCUMENTATION OF INCOME:

  • Recent paystubs to cover the last consecutive 4 weeks, must include year to date earnings. If an applicant has more than one job or source of income, paystubs or proof of all are required. Must be able to prove combined income of all adult applicants. You may email any additional uploads or information to ClientCare@GrandRealtyGroup.com.
  • If any income is coming from SSI, child support, alimony, a housing voucher or any other source of income, proof must be provided in the form of a statement or official document. Some may require court documents or bank deposit records. Voucher holders must be prepared to furnish Request For Tenancy.

Self‐employed applicants must provide sufficient proof of income, we require the following:

  • Past two months of most recent bank statements
  • Past two year’s tax returns
  • Paystubs from self-owned company, if applicable

Additional documentation may be requested at Grand Realty Group Inc’s discretion if the submitted documentation is questionable.

PETS:

Pets are considered on a case-by-case basis and it is up to you, the applicant and/or your agent to verify whether or not the property you’re applying for will accept pets or if there are any limitations prior to submitting an application. The property listing on the MLS and/or other websites will reflect whether pets will be considered and if there are any restrictions and/or limitations for the property that you are applying for. You may call our office to inquire about the property’s pet policy prior to applying, 847.469.3101. There will be no refunds given to applicants that apply for properties that do not allow pets or if your pet is denied for any reason.

All pets must be fully vaccinated, spayed or neutered, at least 2 years old (no puppies or kittens) and not to exceed 100 pounds, limit 2 pets per household. A pet deposit will be collected for each pet based on PetScreening.com profile findings, Grand Realty Group, Inc reserves the right to request deposit amounts at will and in some cases, a monthly pet rent will be required.

ALL APPLICANTS MUST FILL OUT A PET PROFILE.

A pet profile must be created for each pet through PetScreening.com. Vaccination records and clear photos of each pet are required. This profile must be renewed annually at the expense of the Resident and vaccinations must always be current through the duration of a lease agreement and proof thereof uploaded to PetScreening.com profile when renewed. Grand Realty Group, Inc also reserves the right to deny any pet that does not meet our criteria or is deemed to be considered high risk based on their PetScreening.com profile.

The three types of profiles available are (ALL APPLICANTS MUST FILL OUT A PET PROFILE):

  • NO PET PROFILE: This is a FREE profile that you acknowledge and understand our pet policy. Also stating that you will not be bringing any pet/animal to the property for any reason and there is no visiting of any animal, no pet sitting, etc. without written consent of Grand Realty Group, Inc.
  • HOUSEHOLD PET PROFILE: This is a screening process for pets. Photos and vaccination records must be uploaded along with information on breed, weight, age, spay/neuter status, behavioral history, etc. Separate fees apply though their website.
  • ASSISTANCE ANIMAL: This is a FREE profile for any assistance, support or service animal. You must upload photos, medical documentation if required, input breed information, vaccination details and behavioral history. Please understand that the licensure must be verified by PetScreening.com and can take up to 5 business days for the approval from their animal review team.

Service/support animals are not pets and will not be treated as such. We comply with all local, state and Federal Fair Housing laws. Proper registration will be required and must be current at the time of application and throughout the duration of lease.

2. COMPLETE THE RENTAL APPLICATION

Please click the link below to access our application.

CLICK HERE TO APPLY

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