Rental Criteria – Stone Valley Property Management

Purpose

Stone Valley is committed to fair housing practices and provides this guide so all applicants understand our rental qualifying policies. If you have questions, contact our management team.

Occupancy Policy

• Maximum occupancy is based on the number of bedrooms: two people per bedroom, plus one additional for the home.

• Specific properties (e.g., homes with septic systems) may have additional occupancy limits set by the owner.

Application Process

• ID Verification: A valid government-issued photo ID is required for all applicants. IDs are only copied if the application is approved.

• Application Submission: Complete your application online. Each adult must submit a separate application. Incomplete applications may be denied.

• Rental History: A minimum of 3 years’ rental history is required. Conditional approval may be given with a higher security deposit or guarantor if no prior rental history exists.

• Fees: $55 non-refundable application/processing fee per adult.

• Processing Time: Allow 2–3 business days for application review.

• Approval: Approved applicants must sign a Rental Agreement or Holding Deposit Agreement and pay the security deposit.

Requests for Modifications

• Residents with disabilities may make modifications at their own expense, with prior written approval, and all necessary permits.

• Modifications must be completed competently and safely.

Pet Policy

• Pets are allowed on a case-by-case basis, at the owner’s discretion.

• All pets must be covered by renter’s insurance naming Stone Valley as additional insured.

• Pet addendum required with lease.

• Service/support animals are allowed per federal/state laws; additional info may be requested.

Credit Requirements

• Credit reports are required for all applicants.

• Denial criteria: Five or more unpaid collections (excluding medical/student loans), recent bankruptcies (within 3 months), falsified info.

• Applicants without established credit may qualify with a guarantor.

Income Requirements

• Monthly household income should be at least 3× the monthly rent.

• Acceptable income includes wages, benefits, rental assistance, or any lawful, verifiable source.

• Unreported “under-the-table” income cannot be accepted.

Rental History Requirements

• Three years of rental history required.

• Denial if eviction within 7 years, multiple noise/disturbance complaints, NSF checks, or multiple “pay rent or quit” notices within one year.

• COVID-related rental debt will not affect eligibility.

Rejection Policy

• Applicants may request a copy of their credit report or correct any inaccurate information through the credit reporting agency listed on the application.