What are the Rental Property Requirements in Las Vegas?
Who Can Apply
All applicants must complete online rental application and provide all supporting required documentation. A NON-REFUNDABLE application fee must be paid online upon applying. All required fields must be filled in, if something does not apply to you, please enter N/A in the space provided. Please note that Faranesh Real Estate and Property Management accepts multiple applications and presents all applications to owner(s).
YOUR APPLICATION WILL NOT BE ACCEPTED FOR PROCESSING UNLESS ALL REQUIRED DOCUMENTATION AND INFORMATION IS PROVIDED INCLUDING APPLICATIONS FROM ALL CO-APPLICANTS. THE ADDITIONAL DOCUMENTS REQUIRED (PHOTO ID, PROOF OF INCOME, PHOTO OF PETS) CAN BE EMAILED. APPLICATION FEES MUST BE PAID BEFORE WE WILL PROCESS YOUR APPLICATION.
The owner reserves the right to give final approval on all processed applications and pets.
Requirements
Applicant(s) monthly gross income must be at least 3x’s the monthly rent and verified by supplying the three (3) most recent pay stubs or tax returns. Applicant(s) must have been employed by the same job or within the same industry for a 12 month minimum; this includes self-employed and tip-earning persons. Employment Transfer Applicants must provide proof of income/ employment verification on company letterhead from employer. If you are self employed, please provide a copy of last year’s income tax return and last (3) months of bank statements.
It is recommended that Applicant(s) to physically inspect premises, both interior and exterior, prior to submitting an application. All requests for improvements should be included on the fifth page of this application. Conditions presented after move- in are likely to be denied, as all requests must have owner approval prior to lease execution.
Tenants will be responsible for all MINOR maintenance up to $100 including but not limited to plumbing, garbage disposal, and landscape. If parking passes are required, tenant is responsible for payment.
How to Apply: Step by Step
Visit our Rental Listings page to view available properties to lease. Once you find a property you are interested in, click “Apply Now” for instructions.
Instructions
PLEASE COMPLETE THE ENTIRE APPLICATION; UNCLEAR OR INCOMPLETE APPLICATIONS WILL CAUSE A DELAY IN PROCESSING. PLEASE ALLOW (72) HOURS FOR APPROVAL FROM RECEIPT OF COMPLETED APPLICATION.
Applicant(s) must qualify and be approved after credit/ background check and verification of past rental history. All individuals 18 years of age or older residing in the home are required to complete an application, undergo the screening process, provide any necessary documentation, pay application fee, and be included on the Lease Agreement.
Last two (3) pay stubs, or if self-employed, the front page of the most recent IRS tax returns and (3) months of bank statements. Employment Transfer applicants must provide proof of income/ employment verification on company letterhead from employer.
Driver’s license, state issued ID or military picture ID for all adults.
Picture of your pet(s) and any vaccination/ registration records, if applicable.
Requests For Improvements
Before applying for this property, I (we) have thoroughly inspected the property and would like the following REQUESTS presented to the homeowner for approval. I (we) understand that the property will be leased in “as-is” condition and will listed all requests for improvements. THERE IS NO GUARANTEE THESE IMPROVEMENTS WILL BE APPROVED BY OWNER AND THEY ARE NOT A CONDITION OF LEASING PROPERTY.
Fees & Deposits You’ll Need
All fees must be paid in certified funds, NO EXCEPTIONS.
Security Deposit: Standard SECURITY DEPOSIT may be equal to or exceed one (1) month’s rent and may be increased for each of the following, not to exceed three (3) times the monthly rent: Bankruptcy (must be discharged), poor credit or rental history, Las Vegas resident for less than one (1) year, unless moving due to job transfer within the same company, pets, subject to property owner approval and picture(s), which are required.
Upon approval, Applicant(s) will execute lease package; pay any prepaid/ prorated rents, ALL DEPOSITS, connect utilities and obtain renters insurance prior to move in. If applicant(s) withdraws and/or decides NOT to rent said property for any reason after completion of lease and/ or receipt of deposits has taken place, the deposit shall be FORFEITED.
PLEASE NOTE: SECURITY DEPOSITS are not considered rent monies and, therefore, cannot be used toward future rents while lease is valid/ active. All rents are prorated to become due on the 1st day of each month.
Occupancy Limits
The occupancy standard per home is two (2) persons per bedroom, plus one (1)- subject to local laws. Residents who exceed these occupancy standards during the lease term will be required to either: Transfer into another available home with more bedrooms upon qualification; OR vacate property with notice.
Credit Requirements
Faranesh Real Estate and Property Management will attempt to obtain a consumer credit report for each applicant. This report must be generated by Faranesh Real Estate and Property Management and NOT the applicant. In addition to a credit report we also run a fraud search, eviction search, base check search, national criminal database scan, and a driver’s license verification. We may also contact current and previous landlords, employers, and/or references provided by you. Depending upon the credit score, rental history and other application findings an extra deposit may be required not to exceed local or state law. If you currently owe money to a former landlord, have unpaid utility bills, late payments on automobiles, repossessions, and/or have been evicted from a rental within the last five (5) years, your application will be denied.
Background & Criminal History Screening
We will abide by principles of equal opportunity, and welcome all responsible renters into our homes. If you have been convicted of a felony within the last 5, years your application will be denied. You will have the right to appeal any decision we make in this regard by providing additional information within three (3) days of the day your application is denied
(not including weekends/holidays). The owner has the right to accept other applications during this period.
All criminal records are evaluated from the date of disposition, regardless of the applicants or occupants age at the time such offense was committed.
The application will be denied for any felony conviction for any sex and/or terrorism related offense(s) regardless of conviction date.
Please note that this requirement does not constitute a guarantee or representation that Residents or Occupants currently occupying our rental properties have not ever been convicted of a felony or sex offense requiring registration under applicable law. Additionally, our ability to verify this information is limited to the information made available to us by the resident background and credit reporting services used at time of application submission.
Co-Signers & Guarantors
Guarantors will be accepted for Applicant who do not meet the required rent-to-rent-income ratio are denied. Only one (1) guarantor per home is permissible. The guarantor must complete an application and pay the application fee. Guarantors must have a gross monthly income of four (4) times the monthly rent amount and meet all other qualifying criteria identified in this screening policy. The guarantor will be required to sign the lease as a Leaseholder. Guarantors may be relatives or an employer; friends may not serve as a guarantor.
Pet Policy
All pets are subject to the property owner’s approval and Applicant(s) must supply a picture of the pet. The Security Deposit maybe be increased depending upon the size and type of pet. Regardless of temperament or training, all pets are approved at owner’s discretion. Shot records may be required upon request.
No more than three (3) animals are allowed per home (subject to local laws and HOA rules and regulations). Pet fees and/or pet deposits will be charged for all pets. Dog Bite Liability Insurance is required with evidence of coverage provided to the landlord.
Property Rules (Smoking & Vehicles)
We do not allow smoking inside any of our properties. Vehicles must be operational and have current registration. All vehicles must be in compliance with all state laws and municipal ordinances. Parking requirements of the municipality and HOA, if applicable, must be followed.
Boats or trailers are not allowed at any time unless approved in writing by the landlord.
Application Does Not Create a Lease
This application, even if accepted, shall under no circumstances be considered a lease agreement between Applicant and Landlord, or an offer to lease. No lease shall exist between Applicant and Landlord unless and until the parties enter into a formal lease agreement and applicant pays all required fees, deposits, and advance rent.
Authorization For Credit And Background Check
Applicant hereby authorizes landlord and landlord’s authorized agents to do background and credit check on Applicant which landlord or landlord’s agents deem appropriate. This may include among other things obtaining one or more credit reports on applicant. Such credit report(s) of the lease as part of any effort to collect rent, costs, fees and charges owed under such lease. Applicant acknowledges that merely requesting such report may lower Applicants credit score and applicant expressly consents to the same.
Use of Information
The information in this application or obtained as a result of the authorization given herein by Applicant will not be sold or distributed to others, However, Landlord and Landlord’s agents may use such information to decide whether to lease the Property to Applicant and for all other purposes relative to any future lease agreement between the parties including the enforcement thereof.
Commitment to Equal Housing
Landlord and Landlord’s agents are committed to providing equal housing opportunities to all rental applicants regardless of race, color, religion, national origin, sex, handicap, familial status, or other protected status. Faranesh Real Estate and Property Management welcome qualifying Section 8 voucher holders who have been approved for the Section 8 program by the local housing authority, and if owner has approved that the property be marketed as Section 8 approved.
Reason for Denial
If this Application is denied, Landlord or Landlord’s agent shall within ten (10) days thereafter and upon the written request of applicant, state the basis for said denial to Applicant.
Falsification of Application
If any information provided on your application proves to be false or misleading; your application will be denied. If you have already entered into a rental agreement on the property when we discover that you’ve provided false information, you will be subject to immediate eviction proceedings from the property. In the event that an Applicant falsifies his/her paperwork, owner has the right to hold all deposits and fees paid to apply towards liquidated damages.
Agency Disclosure
You (applicant) acknowledge that Faranesh Real Estate and Property Management represents the owner/s of the rental property.
