Terms of Application Agreement and Resident Selection Criteria

As a company, we do business in accordance with the Federal Fair Housing Law and welcome Persons of all Race, Color, Religion, Sex, Sexuality, Handicap, Familial Status, or National Origin.

Application Processing and Time Frame:

Cost:

There is a non-refundable application fee of $60 per adult 18 years old and older that will be occupying the property that must be submitted with your application. Incomplete applications will not be processed.

The Application Process:

Resident Selection Criteria

To qualify for the advertised security deposit amount you must meet the following criteria. If your credit, residence history, income, and/or employment history does not qualify, you may still be approved but at a higher security deposit amount.

Basic Requirements for Approval

Monthly Rent is $1,200 or more (“A” Property):


Monthly Rent is $1,199 or less (“B” Property):

Contingent Approval - Credit Score Based

All lease transactions involve risk. To mitigate this risk for both landlord and tenant, Ritan Property Group, Inc. routinely video tapes the condition of properties before and after each tenancy, ending most security deposit claim disputes before they begin. Offering an approval based upon total credit score comes with even more inherent risk to the landlord and property manager. Much like with Apartment Communities, an approval can be offered even to tenants with less than perfect credit as long as they can pay the additional deposit associated with their credit scores to offset the risk involved.

No FICO Score:

Applicants who do not have a FICO score may be assigned a score of 400 for the purposes of determining their risk mitigation deposit.


Other:

If You Withdraw/Cancel Before Approval:

You and any co-applicant may not withdraw your application or the application deposit. If you or any co-applicant withdraws an Application or notifies us that you’ve changed your mind about renting the dwelling unit, we’ll be entitled to retain all application fees as liquidated damages, and the parties will then have no further obligation to each other.

Keys or Access Devices

We’ll furnish keys and/or access devices only after: (1) all parties have signed the contemplated Lease Contract and other rental documents referred to in the Lease Contract; and (2) all applicable rents, security deposits, and fees have been paid in full.

Signature

Our reception of this application is consent only to this Application Agreement. It does not bind us to accept applicant or to sign the proposed Lease Contract.

Thank you for applying to Ritan Property Group, Inc.!