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Application Screening Policies

Please read these screening policies carefully.  
If you have any questions regarding any specific policies, please contact us for clarification.

HUD Compliance
  • Dreamcatcher Properties considers all applicants without regard to age, race, color, religion, creed, gender, national origin, marital status, veteran status, disability, or any other legally protected status or class.
  • Dreamcatcher's application screening policies are in compliance with all HUD Fair Housing rules.  
  • In order to be in compliance with HUD Fair Housing rules, all of our screening policies are applied consistently to every applicant, with no exceptions.
  • If you have any questions regarding any specific policies, please contact us for clarification.

Application and Fees
  • Applications are accepted online by following the link within each properties advertisement.
  • Each application must be completed thoroughly and legibly.
  • Any items left blank or incomplete will delay the processing and could result in the denial of your application request.
  • All information provided on the application is subject to verification.
  • A $45 application fee must accompany each application (money order, or cashier's check only, sorry no cash).  No application will be processed until application fee(s) are received for all co-applicants.
  • No application will be processed until all co-applicant applications have been received.

Approval of application requires passing criteria in each of the sections below.
Denial in any category below may constitute denial of all applicants.

Income Requirements
  • Rent must be no more than 30% of applicant's verifiable combined income.
  • Application Acceptance Program is available for applicants who's income is between 30% & 40% of verifiable combined income.
  • Proof of income must be provided for employment, SSI, food stamps, child support, self employment, etc.
  • Unemployment is never considered income.
  • Income requirements may be waived if the applicant pre-pays for the full term of the lease.

Credit Requirements
  • Each application is evaluated individually for credit requirements.  Lowest credit score of all applicants determines approval.
  • We evaluate credit score based on the following system:
    • All Credit Scores 600+ are approved
    • Any Credit Score 0-599 may be denied, or eligible for our Application Acceptance Program.
  • Application will be denied for:
    • Any previous landlord in collections, regardless of outstanding balance.
    • Any utility companies (water, sewer, gas, power, etc) in collections, regardless of outstanding balance.

Criminal Background
  • Criminal record verification is made on all persons over the age of 18 who will occupy the property.
  • Any felony within 5 years will be denied.
  • Causes for the application to be denied include, but are not limited to:
    • Conviction of
      • Illegal drug or gang involvement of any kind
      • Any violent act against another person
      • Vandalism, arson, etc
      • Burglary
      • Criminal trespass
      • Stalking
      • Registered sex offender
      • Any felony within the past 5 years
    • Any felony older than 5 years will be considered under our Application Acceptance Program

Rental History
  • Application may be denied for:
    • Evictions
    • Damages beyond normal wear and tear
    • Illegal activity on premises
    • Refusal to re-rent by previous landlord
    • Outstanding balance owed previous landlord
  • Exceptions will be made for home owners with no recent rental history.
  • Relatives are not acceptable as rental references.
  • Evictions older than 5 years will be considered under our Application Acceptance Program

Pets
  • Many properties Dreamcatcher manages allow pets.  Be sure an check the specific ad for each property's pet policy.
  • An additional $200 security deposit per pet is required for pet approval.
  • Due to insurance restrictions, "Dangerous breeds" are not allowed in any Dreamcatcher property.  Dangerous breeds are defined (but not limited to)
    • Pit Bull
    • American Staffordshire Terrier
    • Rottweiler
    • German Shepherd
    • Doberman
    • Chow
  • Service / assistance animals are allowed in all Dreamcatcher properties.

Smoking
  • All Dreamcatcher Properties are non-smoking properties.  Smoking is not allowed on premises.

Co-Signer
    • Co-signer must have a credit score of 680 or greater to be considered
    • Co-signer must sign lease before keys will be given

    Application Processing Time
    • As of 2/2013 we have a new screening system and are striving to process all applications within 1-2 business days.   This time may be a little longer while we learn our new system.

    Application Denial
    • If your application is denied, you will be notified via telephone and/or email as soon as possible.
    • We are unable to provide denial reasons to anyone other than the individual who the denial was based on.
    • If denial was based on anything obtained from a credit report, we will provide an Adverse Action letter as required under the Fair Credit Reporting Act.

    Application Approved
      • If your application is approved, you will be notified via telephone and/or email as soon as possible.
      • With a verbal approval of your application, you will have 2 business days to provide:
        • Holding deposit equal to the advertised security deposit (including pet deposit(s)).
        • Holding Agreement signed by all applicants.
        • Verification of all applicant's income as stated on your application(s).
          • Copy of check stub, 1040 tax return, bank statement, etc.
        • Photo ID verification of  all applicant's identity and date of birth.
          • Copy of Driver's License, State issued ID, Passport, etc.
      • Rent will commence and be due no later than the 15th day after receiving a completed Holding Agreement, regardless of occupancy of the unit. (Dreamcatcher will hold the unit for 14 days, after that, rent must begin)
      • If you choose not to occupy the unit after the Holding Agreement has been received, the holding deposit is non-refundable.
      • Once a lease is signed, the holding deposit is applied to the security deposit and then falls under all rules and requirements of the security deposit as outlined in the signed lease.

      If you have any questions regarding any specific policies, please contact us for clarification.

      This page was updated 2/13/2013