PREMIER PROPERTY MANAGEMENT GROUP
134 Timber Creek Drive, Cordova TN 38018
Leasing Office Hours of Operation: Monday - Friday 8:00 am - 4:30 pm
Telephone: 901-334-1919 Facsimile: 901-201-5731
Application & Lease Standards
Applicants - All persons who will reside in the property and are eighteen (18) years of age or older must complete the application process.
Application Fees - $40 per Applicant. Application fees are non-refundable and are used by Premier Property Management Group to pay for the processing of the application.
Lease Terms - The standard lease term is twenty-four (24) months. A lease term of eighteen (18) months is available for an additional fee of $25 per month, and a lease term of twelve (12) months is available for an additional fee of $50 per month.
Credit Requirements -
-Credit 499 and lower will be automatically Turned Down.
-Credit 500-549 will automatically be charged additional $300 on security deposit.
-Credit 550+ will be eligible for no additional deposit, based on credit alone. **Please�?? note, deposit could still increase based on rental history and additional screening information**
Credit history should have no open or recently closed bankruptcies and no monetary judgments.
Employment History - At least six (6) months of steady employment history is required. If current employment is less than six (6) months, previous employment history is required. If self-employed, please provide 3 months bank statements along with 2 years full tax returns.
Rental History - Rental history should show no prior evictions or lease infringements / violations. **Deposit may increase due to outcome of VOR**
If you do not have previous rental or mortgage histroy you will be subject to pay a higher deposit amount.
Income Requirement & Verification - The applicant's individual income, or the combined income for multiple applicants, must be equal to or greater than three times the monthly rent. To verify income, we require a copy of the two (2) most recent pay stubs for each applicant, in addition to a copy of the most recent bank statement for each applicant receiving pay via Direct Deposit. Documentation must be provided for any and all income the applicant wants to include as 'Monthly Income', such as child support, alimony, social security, disability, annuities, trust funds, times shares, etc.
Security Deposits - Security Deposits are no less than 100% of the monthly rent. Upon application approval, any deposit paid is to remove the specified property from the open market, if still available, and hold the property for the approved applicant. If applicant is approved but decides they no longer want the property that has been removed from the open market and held for them, their deposit is forfeited and retained by management.
**Make sure each of these items is completed before submitting the application. Incomplete applications will not be processed.**
___ All parties have properly signed and intialed where required on the application.
___ Accurate employment history is provided.
___ Accurate residence and prior residence information is provided.
___ A copy of Driver's License / Photo ID is attached.
___ A copy of the two most recent pay stubs is attached, along with a copy of the most recent bank statement for pay received via Direct Deposit.