Frequently Asked Prospective Resident Questions

+ What are your rental criteria?

EACH resident over the age of 18 must submit a separate rental application and meet the following criteria:

  • Credit score of at least 600 with no accounts in collections.

    • We use Experian Vantage Score 3.0
    • If your credit is between 600 and 639 you can be approved with an additional security deposit. Scores of 640 or above require a single month's security.
    • If you have no credit history you can also be approved with a double security deposit

  • Verifiable employment and/ or the combined income of lease holders must be 3x the monthly rental amount.

    • We require one month’s worth of paystubs starting from your most recent pay period
    • If you are relocating for a new job the signed offer letter will be accepted
    • If you are self employed please reach out before applying so we can discuss what proof may be acceptable

  • Positive landlord references from the past 3 years

    • A pattern of late payments, damages withheld from security deposits, or failure to pay can result in a denial
    • If you currently own your home we will use the mortgage payment history on your credit report

  • Acceptable criminal background check

    • If you have any criminal history that will appear on your background check please feel free to reach out to us for more detailed information regarding our polices.

Should you have specific questions about any of these criteria or how we process your application, please give us a call and we are happy to discuss in more detail.

+ Can I apply with a co-signer?

Yes. BPM allows co-signers for both students and non-students when the primary applicant does not meet income requirements on their own. All applicants, including both residents and co-signers, must meet BPM’s income, credit, and background policies.

While a co-signer can close a gap in the income requirement, their credit cannot overrule or negate the requirement for the primary applicant to meet credit and background policies. If the primary applicant’s credit does not qualify, adding a co-signer will not result in approval.

+ Does my co-signer need to fill out an application?

Yes. Both the applicant and the co-signer must submit separate applications and pay separate application fees. The co-signer’s application is reviewed in conjunction with the primary application and must include verifiable income, credit, and background information.

+ How much income does a co-signer need to show?

For Student Applicants: The co-signer may cover 100% of the income requirement, and the student does not need to meet any minimum income.

For Non-Student Applicants: The applicant must be able to qualify on their own for at least half of the required income. A co-signer may be used to help meet the remaining requirement, as long as the combined income meets the property’s income qualifications.

+ WHAT IF I HAVE FILED FOR BANKRUPTCY?

If you have filed for bankruptcy recently enough that it shows on your credit report you must meet all other criteria (credit, rental, income, background) and will have to pay a double security deposit to proceed.

+ WHAT SHOULD I DO IF I CAN'T COMPLETE THE ONLINE APPLICATION BECAUSE I DO NOT HAVE A TRADITIONAL JOB (RETIRED/STUDENT) OR RENTAL HISTORY?

Please attempt to complete the application as best as possible. You may have to put something slightly different in the required fields. For example:

  • If you are retired for employment you should list what you are getting monthly from any retirement or pension accounts. You can put your own contact information, but must upload documentation for proof of the amounts you list here.
  • If you are a student you may list student as your employment, $0.01 for your income, and yourself as the contact. Proof of full time student enrollment (a transcript) must be uploaded as part of your documentation.
  • If you own your own home you can put your address and yourself as your landlord and just explain you own it. We will check your mortgage payment history instead of rental history.

+ WHAT IF I HAVE A HOUSING VOUCHER?

  • Do you accept Vouchers?
    • Some of BPM’s properties accept vouchers and others do not, as they are exempt. It is best practice to call us if you have a voucher to determine if a property you are interested in accepts vouchers. Please call our office before applying.
  • How does BPM screen for income if I don’t make 3x the monthly rent?
    • We need to have proof that you make 3x your portion of monthly rent. The organization who issued you your voucher should be able to tell you how much you’ll be expected to pay per month.
  • Do I have to pass screening criteria?
    • Yes, BPM still screens each resident over the age of 18 for proof of income (see question #2), credit score, positive landlord references and an acceptable criminal background check.
  • Once I apply, do I need to submit anything extra?
    • Yes, the issuer of your voucher should have provided you with paperwork to submit to us, including a Request for Tenancy Approval, a Tenancy Addendum, and (Albemarle County voucher holders, only) a Unit Evaluation Form. Please share these with us so that we can process your application.

+ IS THE APPLICATION FEE REFUNDABLE?

Application fees are not refundable. There may be other applications pending. Please call us before applying to confirm a property's availability.

+ HOW DO I SCHEDULE A TOUR?

Tour priority is always given to approved applicants; however, we are able on a limited basis to provide pre-application tours when we have capacity AND you are able to confirm that all members of your household meet our eligibility requirements. To apply, visit www.bradenproperty.com/available-rentals. To request a pre-application tour please complete our this form.

+ HOW LONG DO I HAVE TO REVIEW AND SIGN THE LEASE?

Once your application is approved, you will have 2 business days to sign the lease. After that period, we will move on to other approved applicants. You can sign a lease sight unseen or can schedule a tour within that 2 business day window through Calendly, our scheduling tool.

+ WHEN IS MY SECURITY DEPOSIT DUE?

Your security deposit is due at lease signing. Your lease will not be countersigned by our team until that is received.

+ DO YOU EVER MAKE EXCEPTIONS TO YOUR PET POLICIES?

We get this question a lot and the answer is no. Our owners have set their own pet policies and very rarely change their mind. It’s best to assume the pet policy listed is firm.

+ DO YOU HAVE A RESTRICTED BREEDS LIST?

Braden Property does not allow the following breeds:

  • Pit Bull
  • Mastiff
  • Rottweiler
  • Alaskan Malamute
  • Siberian Husky
  • Doberman Pinscher
  • Akita
  • Chow
  • German Shepherd
  • Great Dane
  • Staffordshire Terrier
  • Pitbull Terrier
  • Bulldog
  • Wolf Hybrid

Or a dog that is reasonably determined by Braden Property Management to be a mix of any of these.

Proceed forward with the rental application process