Rental Qualifications

Please read below before submitting an application.

Required Documents:

  1. ID for all applicants
  2. Most recent paystub with pay periods for all applicants (we will request additional documents if needed)
  3. 12 Month Rental Ledger (landlord issued ledger regarding rent payments for the past year) or signed letter of recommendation from landlord accompanied with a bank account summary of payments for the past 12 months
  • If you currently own your home and are selling it, you will need to provide closing documents or a sales agreement. You must be outside of your option period to be approved.

*Any false information provided will result in an application being cancelled and denied*

Rental Qualifications:

Credit – FICO score must be 580 or above. Please be prepared to provide documentation and/or explanation of any past due, late, or derogatory accounts. If credit scores are ALL below 535, the application will be declined. Otherwise, any scores that are in the 535-579 range will be a 1.5x deposit charge, and if all scores are 580 or above, this will be a regular approval. Bankruptcies must be discharged at least 30 days.

Rental History – Please be prepared to provide the last 3 years of rental history. This can be in the form of a tenant ledger or rental verification from your current landlord. Any eviction filings within the last 3 years will be grounds for denial. More than 3 late rent payments in the last 12 months are grounds for denial. Also, any open rental collects are grounds for denial.

Employment – Applicants must have stable employment and verifiable income. If not employed, proof of regular income must be submitted. If self-employed, please attach the previous year’s tax return and bank statements for the last 6 consecutive months. An offer letter or intent to hire letter should be submitted if employment has not yet started.

Income – The household income requirement is 3x the monthly rent amount with any existing mortgages (or rental amounts) deducted. Income is calculated on the gross YTD amount. Please submit the previous 2 pay stubs and/or bank statements for the last 6 consecutive months. Guarantor applicants must make 4x the monthly rent amount in standalone income and have a credit score of 580 or above.

We do not accept housing vouchers.

Background – A background report will be processed for each applicant. Criminal felonies will be declined.

Security Deposits – Security deposits can be paid electronically or by money order/cashier’s check made out to Open House Texas Property Management LLC. A one-time $150 admin fee is required with the security deposit. An increased security deposit will be 1.5x the standard deposit. SECURITY DEPOSITS MUST BE RECEIVED WITHIN 24 HOURS OF APPROVAL TO SECURE THE HOME. If we do not receive the security deposit within those 24 hours, we will move on to the next applicant. Once the security deposit is paid, it holds the home for a maximum of 21 days. The earliest move-in date is 10 business days after you pay the Security Deposit/Admin Fee. The latest move-in date will be the last business day within the 21-day holding period.

Pets – We accept pets at all of our properties. Pets will be subject to visual inspection (photos), and we do not allow aggressive breeds (Doberman Pinscher, Chow-Chow, Pit Bull, or Rottweiler). This does not guarantee the approval of any breed not listed. There is a $300 non-refundable pet fee per pet. The maximum number of pets is 3. Please attach photos of any pets to your application for review.

Leases – Leases will be sent electronically through DocuSign for your electronic signatures. Leases are typically sent 1-3 business days after the security deposit has been received. All leases must be signed within 48 hours of receipt. Additional admin fees apply to leases having to be re-drafted due to tenants’ change in move-in date. We must receive all tenant signatures within 48 hours or your lease will be canceled and we will start accepting new applications.

Move-in Day – Move-in is completed electronically between 8 AM-8 PM on WEEKDAYS. Move-in funds can be paid electronically, by cashier’s check, or money order. We are not able to accommodate immediate move-ins. The earliest move-in date is 10 business days after you pay the deposit. The latest move-in date will be the last business day within the 21-day holding period.

By submitting your application, you and all persons occupying the home agree to these terms.

**PLEASE NOTE THAT ALL INDIVIDUALS OF THE AGE OF 18 OR ABOVE MUST SUBMIT APPLICATIONS (CO-APPLICANTS, GUARANTOR APPLICANTS, ETC.) MUST SUBMIT SEPARATE APPLICATIONS PRIOR TO ANY APPLICATION BEING REVIEWED. ANY UNFINISHED APPLICATIONS WILL NOT BE PROCESSED.**

Company Leasing Process after being approved:

1. Pay the security deposit and admin fee

2. Your lease will be drafted after the deposit is received

3. A move-in coordinator will be in contact to assist with all move-in details

All application fees are non-refundable. Application fees collected from Open House Texas are $45 per person. Real Page Payment Services charges a $5.00 processing fee. The processing fee is non-refundable. All application fees must be paid, if not your application will not be considered. Any promotional credits will be applied upon approval/moving forward with a lease (waiving of application fees and/or admin fees)

*WE BASE APPROVALS IN ORDER OF COMPLETED APPLICATIONS – ALL SUPPORTING DOCUMENTS MUST BE RECEIVED AND APPLICANTS MUST BE QUALIFIED TO BE APPROVED*

*WE DO NOT SUPPLY REFRIGERATORS, WASHERS, OR DRYERS FOR DFW PROPERTIES*

*WE DO NOT SUPPLY WASHERS OR DRYERS FOR HOUSTON PROPERTIES (WE PROVIDE REFRIGERATORS FOR HOUSTON PROPERTIES)*

*WE DO NOT SUPPLY WASHERS OR DRYERS FOR GA PROPERTIES (WE PROVIDE REFRIGERATORS FOR GA PROPERTIES)*