The busy rental season has officially begun! We want to help you understand the leasing application process, so we identified the most frequently asked questions. Enjoy this quick video!
Here are the questions and answers below:
What is the application process?
You will need to have 3 tenants apply. If you all do not make a combined 3 times the monthly rent, then we will require at least one cosigner to apply. Our entire application process is done by visiting our website at KRK Realty.com. Once on our website, at the top of the page you will see a portion that says available rentals. Click this, and search for the home you are interested in, click apply now.
Does the cosigner need to apply? Do they fill out a separate application?
Yes, the cosigner will need to also pay the $40 and fill out an application. No, the cosigner will fill out the same application as you did. Though all of the questions may not be applicable to a cosigner, we ask that the cosigner fill it out to the best of their ability.
How long after submitting my application can I wait to hear a response?
The answer to this question varies depending on the property. Typically, you can expect to hear back form a representative within 24 hours of receiving your application. Please keep in mind that this is not always the case in unique situations.
Do I get my $40 back if I am declined?
No, unfortunately once you have submitted the application fee it is not refundable.
What happens if KRK gets multiple applications for the same property?
We will review with the owner the best and most qualified applicants for the property.
Do I get my $40 back if another group gets the property?
No, however we are able to transfer your applications to another on of our properties.
Why did my application get declined?
KRK Realty will approve or decline the application based on income, credit history, rental history, and criminal background.
Once my application is approved does that secure the house?
No, the house is not secured until a lease is signed and the full security deposit has been paid. Once your applications are approved, you will need to come in within the next day or so to sign the lease and pay the deposit.