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OKCREAL Qualification Requirements:

OKCREAL wants you to succeed! We will make every effort to approve you!

Please review the rental criteria below before completing your application. Please be aware that OKCREAL may receive multiple applications per property. As a result, all applications are processed on a first-come, first-serve basis. OKCREAL only reviews and considers completed applications. Applying to lease a property from OKCREAL does not guarantee approval or create a binding lease agreement for the home. Approved applications will only be valid for 30 days from the approval date.

 

Application Terms: 

  • Primary Applicant / Co-Applicant: All individuals aged 18 and over who will reside in the home, are financially responsible for making lease payments, and will sign the lease agreement and uphold the lease obligations. The applicant who starts the application process is referred to as the “Primary Applicant.” All others with similar responsibilities are referred to as “Co-Applicants.”

  • Adult Occupant: All individuals aged 18 and over who will reside in the home who are not financially responsible for making lease payments but must uphold all other lease obligations. All adult occupants will undergo a standard criminal background screening.

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A completed application consists of:

  • A filled out and submitted application via the secure OKCREAL application portal, including all individuals 18 years or older who will be occupying the home. All sections of the application must be completed for the application to be processed. This includes all required documents under the employment/income verification section below.

  • A clear and legible copy of a valid & up-to-date government-issued photo I.D. document must be uploaded in pdf, jpg, jpeg, or png format. Acceptable forms of I.D. include:

    • State-issued driver’s license

    • State-issued identification card

    • U.S. Passport or Passport Card

    • U.S. Permanent Resident Card

    • Valid foreign passport (must provide a valid work visa issued by the U.S.)

  • Payment of all necessary fees (see “Fees” section below); and

  • Completion and passing of criminal, rental, and credit history background checks**

 

Please allow 24 to 72 hours for your application to be processed. If an application is submitted during the weekend or a holiday, that application will be processed the following business day. If you need to call back with more information regarding your application, please do so within this time frame.

Please remember to stay safe on the web and avoid rental fraud. Our rental applications can only be submitted through our secure online portal at okcreal.com.

OKCREAL reserves the right to request additional documentation at any time during the screening process to validate applicant(s) disclosed qualification requirements. By signing and submitting an application via the OKCREAL website, the applicant consents to such additional documentation requests, which may be necessary to review and validate applicant qualifications. 

** All applications are reviewed following established screening criteria and using services of TransUnion, a third-party screening provider, for credit and criminal background checks. TransUnion Dispute Department is located at P.O. Box 2000, Chester, PA 19016 and can be reached by visiting www.transunion.com or calling 888-710-0270.

 

Occupancy Limits:

The allowable occupancy cannot exceed two persons per bedroom unless dictated by local, state, or federal law.

Occupancy Standard:

One Bedroom: Two Persons

Two Bedrooms: Two Persons

Three Bedrooms: Six Persons

Four Bedrooms : Eight Persons

Five Bedrooms : Ten Persons

Occupancy Limits
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Job & Income Verification

Employment & Income Verification:

Income Recommendations:

- Preferred Applicants will  have a minimum combined, verifiable gross income of 3.0 times* the monthly rent amount.

-All applicants must provide their previous month’s pay statements/stubs and the prior two months’ personal bank statements. -You may instead provide financial statement(s) verifying the income on your application.

 

** Additional income documentation may be requested for verification purposes. .

Employees::

Employment will be independently verified during the screening process. Any delayed response to the employment verification request may result in a delay or declination of the application approval.

See below for more information on the income verification requirements based on employment status:

Employee Verification Requirements: Currently EmployedPay stubs for the last 30 days (Weekly pay period = 4 paystubs, Bi-Weekly = 2 paystubs, Monthly = 1 paystub), AND 2-months worth of bank statements. Applicants who have been with their current employer for fewer than 30 days shall provide all paystubs received AND an Employment Verification Letter confirming the date of employment and the terms of compensation.

Future Employment (starting a new job)Offer letters on their own will not be accepted as proof of verifiable income. Applicant(s) must provide an offer letter with at least one (1) corresponding paystub and at least three (3) months of bank statements. 

Self-Employed Business must have been in operation for at least 90 days prior to the application date. Three months of most recent bank statements AND a copy of the business license evidencing ownership.

Retired Residents Current statement showing pension, IRA, or any other supporting retirement income from the issuing agency, AND three months of most recent bank statements showing the deposits of retirement income.

Social Security, Disability, GI, or other benefits: An Award letter or a statement from issuing agency, or a recent bank statement showing deposits Child Support and AlimonyAward letter (if available) AND three months of most recent bank statements showing the deposits of support.

Financial statements may include proof of funds from checking/savings accounts, stocks/exchange-traded funds, mutual funds, and money market funds. Funds cannot include 401k/retirement accounts unless the applicant is the required age/eligible to withdraw from retirement accounts without penalty.

Additional notes:

  • Additional documentation may be requested in addition to the documents listed above.

  • Do we accept Section 8 in Oklahoma? Landlords in Oklahoma are required to comply with state and local fair housing laws and equal opportunity initiatives—including Section 8. So as long as you meet the application requirements no landlord can deny an applicant because of a voucher.

 

Credit Requirements:

OKCREAL takes a progressive approach to evaluating your credit, we want you to succeed and will look for ways to approve you at all times!  A credit report will be obtained from a third-party agency on all applicants who are financially responsible for lease payments. Collections, charge-offs, absence of credit, foreclosures, repossessions, inquiries, and delinquencies may be considered during the credit report review.   All bankruptcies must be closed for at least 30 days for an application to be considered. Only one closed bankruptcy during the past seven years is allowed (debts must be paid off or discharged); any open or additional bankruptcies could be cause for application declination.

*LOWER CREDIT SCORES/INCOME CAN BE ACCEPTED WITH HIGHER DEPOSIT! CALL FOR SPECIFIC DETAILS ON THE PROPERTY YOU WANT. 

Default property credit ratings generally determine security deposit levels as shown below:

600 or higher:  1-month security deposit

560-599:  1.5-months security deposit

550 or below: Declined

(some homes may have different policies)

Non-Resident Co-signers regardless of state/city, are required to have a credit score of 620 or higher and must earn 4x net the monthly rent.

No credit score If no credit score is available AND no credit report is available, the application may still be considered, but the applicant(s) must earn a gross monthly income equal to 5.0 times the total rent for the home selected, and a 2-month security deposit would be required if approved, subject to state and local laws.

Credit Requirements
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Rental & Criminal Records

Rental History:

 

We may contact your prior residence to determine payment history and the condition of your last residence when you moved out. Applicants rental history shall be evaluated for an approval determination, subject to all state and local laws. Applicant(s) that reflect Landlord/Tenant records of any kind and rental housing related civil judgments within 3 years of the application date require management approval. If you have been evicted, or even had the eviction process started in the last 3 years you will be declined and we recommend you save yourself the application fee by not applying. If you feel you have a special scenario that may not fit into these guidelines, feel free to contact our office. 

 

Criminal History:

Safety of our residents is taken very serious. We want peaceful communities that thrive and grow together. A criminal history verification will be conducted for all applicants over the age of 18 using a third-party agency. Your application could  be denied for the following criminal convictions/records:

  • Any felony conviction/record within the past seven years

  • A felony conviction/record for certain types of violent crime(s), arson offenses, robbery-related offenses, drug sale and manufacture offenses, and/or non-forcible sexual crimes within the past ten years

  • Misdemeanor convictions/records within three years

  • All forcible sexual crimes and sex offender registrants will be declined regardless of time.

  • An OFAC (Office of Foreign Assets Control) search report will be completed for each application. Any applicant that appears on an OFAC list is subject to automatic denial.

 

These requirements do not constitute a guarantee or representation that residents or occupants currently residing in our homes have not been convicted of or are subject to deferred adjudication for a felony, certain misdemeanors, or sex offense requiring registration under applicable law. There may be residents or occupants that have resided in one of our homes before the implementation of this policy. OKCREAL's ability to verify this information is limited to the information made available by the applicant and third-party credit reporting services utilized. Applicants and/or residents who are convicted of any of the above-listed offenses after lease application may be subject to the forfeiture of all fees paid to reserve the home or eviction if the conviction/record occurs after occupancy.

 

Application Denial: 

Failure to provide all required documentation will result in a denied application and the forfeiture of all fees paid to reserve the home. Any determination of falsification of an application is grounds for immediate and automatic denial, as well as forfeiture of all fees paid to reserve the home and will deny the right of future occupancy.

Pet Policy
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Pet Policy: 

Due to the wide variety of properties OKCREAL offers each property may have a different pet policy so please call prior to applying. Below is our general guidelines, your property may have no deposit or a higher deposit please call. 

General suggested requirements:

A maximum of three pets is allowed in the home.

  • Pet Fee*: Pet owners are required to pay a non-refundable pet fee of $350 for one pet, $500 for two pets, and $700 for three pets, OR agree to paying the $20 per pet, per month fee during their lease. (specific properties may have stricter requirements)

  • ALL animals on the premises are required to have up-to-date vaccination. Applicants must submit vaccination records, along with other application documents, via the resident portal.

  • Livestock and exotic animals are not permitted on the premises or within the home. Exotic animals include but are not limited to snakes, spiders, lizards, and mice. Livestock animals include but are not limited to chickens, cows, goats, pigs, and roosters.

  • Dog Breed Restrictions: Breed restrictions vary by client and are subject to all local and state laws as well as HOA’s.

*Pet fees may be exempted for registered service or ESA animals with proper documentation

Fees

Fees:

 Once the properties security deposit is paid we will hold the property vacant for you up to 14 days rent free while you prepare to move in. Need longer hold times? Call with questions! 405-256-2156

  • Application fee(s) – $35* per adult occupant (all occupants 18 years of age or older) Application fees are non-refundable.

  • Pet fee(s) (if applicable) – $20 per month per pet*

*Application and pet fees may not apply to some properties.

 

Additional Monthly fees on some properties  may include: 

Landscaping Fees (if applicable) 
Trash Fee (if applicable) 
Utility Management Fee (only if power/water is included in rent) 
Pool Maintenance Fee – a monthly pool maintenance fee may be charged for homes with swimming pools 
SmartLock Fees –  (if applicable) 
Pet fee –
Fencing Options (if applicable) 
Septic Maintenance –

Homeowner Associations:

If a property is located in a community governed by an HOA, the HOA may have its own resident and lease approval process. OKCREAL’s approval of the lease application shall be subject to the HOA’s approval, and the HOA may require additional information and documentation. HOA approval may take up to 30 additional days to process. Please plan accordingly and contact us for more details.

 

Disclosures:

OKCREAL does business in accordance with the Federal Fair Housing Law (The Fair Housing Amendments Act of 1988). Agents understand that it is illegal to discriminate against any person because of race, color, religion, sex, handicap, familial status, or national origin. This applies to the sale or rental of housing or residential lots. It also applies to advertising, the sale or rental of housing, and the financing or appraisal process. In addition, blockbusting is illegal. To assure residents or buyers that we don’t discriminate, we display Equal Housing Opportunity posters in our office and have its logo printed on our application forms.

By submitting any application, the applicant(s) acknowledge(s) and accept(s) that the lease application will be approved or rejected based on the information above, and that a completed application(s), even if accepted/approved, shall under no circumstance be considered a lease agreement between applicant (s) and Landlord. Falsification of any information on the lease application, provided documentation, or incomplete documentation will result in a decline of the application. Applicant(s) also agree(s) to submit all documents necessary to complete the application within 72 hours of the application date. All information must be verifiable.

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