Rental Requirements
Everything you need to know before applying for one of our properties. Review each section carefully before submitting your application.
Financial Qualifications
Income
Applicants must earn at least 3× the monthly rent. For example, a home renting at $1,000/month requires a gross household income of at least $3,000/month.
All verifiable household income is considered. Applicants earning less than 3× the monthly rent will only be considered with a qualified co-signer.
Credit Score
A minimum credit score of 550 is required. Depending on the property, the minimum may be higher. Your full credit report will be reviewed during the application process.
Co-Signer
Co-signers must have a credit score of 650+ with no late payments, no collections, and no tax liens. They must also earn at least 4× the monthly rent and pay an application fee.
References
An additional deposit may be required if late payments are reported or if the applicant has less than 2 years of rental history. Two years of steady work history is required and income must be verifiable.
Self-Employed
Proof of income required: the two most recent tax returns and the last 3 months of bank statements.
Application Process
Application Fees & Guidelines
A $50 non-refundable fee is required for each occupant 18 years of age or older. Applications will not be processed until all fees are paid.
If multiple adults share a household, all must apply before processing begins. Payment accepted via Zelle, Cash, or Cashier’s Check.
Possession
Applicants are required to take possession of the home within 3 weeks of final approval. Please ensure you’re ready to move before submitting your application.
Background & Legal
Criminal Background
A criminal background check is run on each applicant. Any felony conviction or conviction of a sex crime will result in an automatic denial.
Bankruptcy
All bankruptcies must be fully discharged in order to qualify for any of our properties.
Policies
Pet Policy
Soholux Rentals is a pet-friendly company — we understand most households have animals. However, some property owners do not allow pets.
Our general policy charges a $300 non-refundable fee per pet. Breed restrictions may apply depending on the property.
Renters Insurance Policy
Renters insurance protects against losses to personal property (theft, fire, water damage, etc.) and liability claims occurring on the premises.
We have several local insurance agencies available to assist, or coverage can be purchased through your car insurance provider.
$100,000 personal liability coverage
Soholux Rentals LLC listed as “Interested Party”
Typical cost: $15–$30/month — a small price for significant protection.