Tenant Approval Criteria

HCM Property Management conducts business in accordance with the Federal and State Fair Housing Laws. We are pledged to the letter and spirit of the U.S. Policy for achievement of equal housing opportunity throughout the nation. We encourage and support a program in which there are no barriers to obtaining housing because of race, color, religion, sex, handicap, familial status, or national origin.

In order to process your application, we will need the following items:

  1. Completed application for every person over the age of 18 years that will be living in the property. Each adult must complete their own individual application. Applications must be completed on-line through our website at hcmpm.com. (Every individual applicant must pay $50 USD for each adult expected to live in the property) Please note that application fees are non-refundable. If a claim of fraud is made, the applicant will be held responsible for any related collection and court costs incurred to recover these fees.
  2. Copy of a valid photo ID
  3. Applicants must demonstrate a gross income exceeding a combined minimum of 2.5 times the monthly rental amount. Acceptable forms of income verification include but are not limited to:
    • W2 Employees
    • The last two paycheck stubs
    • Current full bank statement
    • If recently employed or early in the year, the prior year’s W2
    • Self-Employed
    • Current Profit & Loss (P&L) statement
    • 2 months of full bank statements
    • Corporation
    • Same as W2 employees
    • Full bank statement from the corporation
    • Additional Proof of Income
    • Proof of government income (e.g., Social Security, Disability)
    • Proof of retirement income
    • Proof of child or spousal support
  4. Non-Refundable screening fee of $50 per application. This fee is paid on-line during the application process.

Please note the following before applying:

  1. Each applicant is screened for Credit, Income, Rental History, and Criminal Background. We process applicants on a first-come basis, but if we receive multiple applications in a short time period, we will select the best qualified candidate, which includes consideration of lease start date.
  2. We incur costs to process and screen each application and as such, APPLICATION FEES ARE NON-REFUNDABLE.
  3. Only completed application packages will be processed. A completed application package includes the four items listed above. Please attach all documentation to your on-line application.
  4. Our application process generally takes 3-4 days to complete upon receipt of completed applications from all prospective tenants. Processing time frame can vary based on number of applicants.
  5. We STRONGLY encourage all applicants to view the property before submitting an application.
  6. Pet Policy – Please check out listing to confirm if pets will be considered. You must attach a photo of your pet with your application to be processed. Due to insurance purposes, we cannot allow the following breeds in any of our rentals: Doberman, Mastiff, Boerboel, Rottweiler, American Bulldog, Presa Carnario, Pit Bull and similar Terrier breeds, Chow, Dogo Argentino, German Shepherd, Husky, Bandog, Wolf Hybrids, Akita, Fila Brasiliero, or Tosa Inu. HCM assesses a pet administration fee of $40 per pet. This will be added to your monthly rent if applicable.
  7. If your application is approved, HCM Property Management will require 2-5 business days to get the property ready for move-in.
  8. As part of the lease signing process, a $150 Document Preparation Fee will be charged upon lease execution. This fee covers the administrative cost of generating and preparing the lease agreement and related documents.

    By submitting your application, you acknowledge and agree to this fee if your application is approved and a lease is offered.
  9. If your application is approved, HCM Property Management will require a non-refundable $1,000 Property Holding Fee to remove this property from the active market until your move in date. This fee is Non-Refundable but will be credited toward your security deposit at Move In. The property owner suffers a financial loss when the property is not being marketed for lease. If you cancel your scheduled move-in after paying the Property Holding Fee, the fee will be forwarded to the property owner to compensate them for their financial loss.
  10. All HCM Property Management residents are charged a $24.95 Resident Services Fee. This fee is intended to enhance the rental experience by providing convenient online payment options, 24/7 maintenance coordination, and phone assistance.

We utilize a risk-based deposit model. In some cases, we will ask for a higher deposit (or co-signor) depending on a number of factors detailed below:

Credit Scores

  • Our minimum credit score requirement is 680
  • Applicants with credit scores between 600 and 680 may be considered, but will require a higher security deposit
  • Applicants with credit scores below 600 will not be considered

Bankruptcy/Charge-offs/Collection Accounts

  • All bankruptcies must be charged off greater than 2 years ago to be considered
  • Medical collections are ignored
  • Applicants with negative utility accounts within the last 6 months will not be considered

Rental Payment History

  • Applicants with any unpaid rental debt or an eviction in the last 7 years will be denied
  • Applicants with any rental history reflecting 2 or more 30 day late payments in the last 24 months will be denied

Rent to Income Ratio

  • Combined gross income from all applicants should be a minimum of 2.5 x rent
  • Combined gross income from all applicants between 2.0 and 2.49 times the monthly rent considered but will require a higher security deposit (or co-signor)
  • The rent to assets ratio must be minimum 3x the rent in combined checking, savings, or retirement accounts.

Criminal Background

A criminal background check will be completed on each applicant. An applicant will be denied for any felony conviction within the past 7 years or if they have been convicted of any sex crime.

Co-Signers

Co-signers will be considered. Co-signers must have a credit score of at least 700 with no late rent/mortgage payments or tax liens. Co-signers must also make at least 2.5 times the monthly rent.

Resident Services Fee (RSF) – $24.95/month

This program provides tenants with the following benefits:

  • Online portal access for making payments and submitting service requests
  • 24/7 maintenance coordination and phone assistance
  • Home buying assistance
  • Access to our vetted vendor network
  • ACH tenant payment fee coverage (credit card fees not included)
  • One-time NSF fee waiver ($35)
  • One-time late charge waiver up to $150

If you don’t agree on any of the above PLEASE DO NOT APPLY.