Meridian Group Real Estate Management, Inc. – Rental Policies
Meridian Group Real Estate Management, Inc. is in the business of renting Residential and Commercial Properties and does not discriminate on the basis of race, color, creed, national origin, marital status, age, sex, source of income, sexual orientation or any other form of discrimination prohibited by law.
Viewing a Unit
- Vacant Unit: Units can be viewed by appointment. To view a vacant unit, you may request the lockbox code from our office, if available. (Note: Our normal office hours are Monday-Friday from 8 AM – 5 PM).
- Occupied Unit: Typically, an occupied unit can be viewed with 24-48 hours’ notice. An appointment will be made with the current resident to view the unit or someone from our office will show the unit. This shall be coordinated by our staff. Please call us at (805) 692-2500 or email us at firstname.lastname@example.org with requests. DO NOT DISTURB OUR RESIDENTS.
- Application: Each adult, 18 years old and older, must complete a Rental Application. Failure to complete the form completely or accurately could delay or preclude the processing of the application.
- Application Fees: At the time of submission, a processing fee of $30.00 per application must be paid online by checking, savings, debit or credit card account. The application fee is non-refundable. Itemization: Credit/Eviction Report cost $16.05, Landlord’s charge for reasonable value of time spent reviewing & verifying application data is $25.00. Total costs estimated to be $41.05.
- Application Processing: It takes approximately 2 working days to process an application. This time may be longer if the application is incomplete or references are difficult to contact. Applications are processed as they are submitted. If two applications come in at the same time, the best qualified applicant will be approved. If the first choice is not available, the applicant will be considered for other units at no additional charge for up to 30 days from the date the application was originally submitted.
- Scoring of your Consumer Credit Report: Meridian Group Real Estate Management, Inc. uses an empirically derived, statistically sound, credit scoring system to evaluate your consumer credit report. Credit scoring is based on real data and statistics, as it treats all applicants objectively. Your consumer credit report contains information about you and your credit experiences, such as your bill-paying history, the number and type of accounts that you have, late payments, collection actions, outstanding debt, and the age of your accounts. Using a statistical program, we compare this information to the credit performance of other applicants with similar profiles which allows us to predict how likely it is that you will pay your rent in a timely manner and fulfill your other lease obligations. If you would like information regarding how to improve your credit score, please let us know and we will provide you with more detailed information regarding this process. Based you’re your credit score, your application will either be accepted, rejected or accepted on the condition that an additional security deposit be paid or that you apply with a guarantor, if applicable. If your application is rejected or is accepted with conditions, you will be given the name, address and telephone number of the consumer reporting agencies, which provided your consumer information to us. An applicant rejected for unsatisfactory credit is encouraged to obtain a copy of the credit report, correct any erroneous information that may be on the report and submit a new application for further consideration.
- Amount of Income: Total gross monthly income of all adult occupants shall be at least three (3) times the monthly rental rate. If income is less, the application may still be considered if it can be demonstrated that the applicant will be able to meet the rental obligations. In some cases, a third-party guarantor may be necessary and/or accepted.
- Employment: The length of time at a job, and/or the stability of other income sources will be considered.
- References: We check previous rental references. If we receive poor references, we may deny the application or require a higher security deposit and/or third-party guarantor.
- Credit: We check the credit history of all adult applicants. Credit checks may include submission to credit rating services such as TRW, Equifax and Trans Union, as well as researching any unlawful detainer eviction against an applicant. No credit history reports are not necessarily negative reports. If we receive a poor report, we may deny the application or require a higher security deposit and/or third-party guarantor.
- Occupancy: To avoid overcrowding, the number of people that may occupy a rental unit is limited to two (2) people plus one (1) per bedroom (i.e. 3 people in a 1 bedroom, 5 people in a 2 bedroom), unless otherwise noted or advertised. Children under the age of eighteen months are not counted when calculating occupancy limits.
Approval/Move – In
- Notification: Applicants will be notified by phone or email as soon as the application has been completely processed.
- Rent: Rent begins upon occupancy or within five (5) days of approval, whichever comes first. If an applicant does not wish to occupy a unit that is available immediately, the unit will be held on a “first right” of refusal. Thus, if another application is submitted for the same unit and the second applicant can move in immediately, the first applicant has the first right to begin paying rent immediately or relinquish the unit to the second applicant.
If a unit is not available, possession and rent must start within 5 days of availability. The unit is considered available when necessary repairs, maintenance and cleaning have been completed.
- Move-In: Before you move in, the following must be completed:
- Rental Agreement signed by all occupants.
- Security Deposit paid in full by cashier’s check, money order or online payment.
- Full first month’s rent must be paid by cashier’s check, money order or online payment.
- The second month will be prorated, if applicable, as noted below under pro-rate.
- Responsibility: All residents and/or third-party guarantors are jointly and severally responsible for any and all charges incurred under the terms and conditions of the rented unit.
- Pro-Rate: Regardless of the number of days during the month, pro-rated rent is calculated by dividing monthly rent by 30 to get a daily rate, which is then multiplied by the number of days occupied in the second month.
- Animals: All animal and pet rules are strictly enforced. All animals and pets must be approved in advance in writing.
- Utilities: All utilities paid by tenant per the terms of the lease should be on in the tenant’s name by the move-in date.
Meridian Group was founded on 3 simple virtues; honesty, integrity, and fairness. We have always managed our business with these simple concepts in mind. Today, we still use honesty, integrity, and fairness as the guiding forces behind our work. For our clients, this means focusing on management issues and maintaining the owners’ investment goals, for our tenants, this means being responsive and professional, and for our community, this means being invested and involved.