Tenant Qualification Standards
CHICAGOLAND LEASING & MANAGEMENT, INC. (HEREINAFTER REFERRED TO AS CLM)
DOES BUSINESS IN ACCORDANCE WITH THE FAIR HOUSING ACT AND DOES NOT DISCRIMINATE
ON THE BASIS OF RACE, CREED, COLOR, SEX, RELIGION, NATIONAL ORIGIN, AGE, DISABILITY,
MARITAL STATUS, FAMILIAL STATUS, SEXUAL ORIENTATION, OR ANY OTHER STATE OR FEDERAL
PROTECTED CLASS. CLM IS THE MANAGING AGENT FOR MANY SEPARATE OWNERS; THEREFORE,
POLICIES AT EACH PROPERTY MAY VARY DEPENDING ON THE PARTICULAR OWNER'S PREFERENCE.
Thank you for considering Chicagoland Leasing and Management in your search for a home
to rent. We take pride in the quality of rental homes that we manage and are excited
to welcome each new qualified tenant into our homes. We not only look for good homes to
manage as rentals, we also look for good tenants. We do have standards, but want to be
fair and considerate of each person and situation. Please take a moment to review our
Tenant Qualification Standards below.
A separate rental application must be completed accurately, truthfully and as
completely as possible by each person 18 years old or older who will reside on
the property. An application fee is charged for each application. This must be
paid at the time your application is turned in. Your application will not be processed
without receipt of the application fee. If your application is turned in without the
application fee and another application comes in before your application fee is paid
the other application will be processed first.
The application screening process will take approximately 1 to 3 business days.
After acceptance and once the lease forms are completed, the rent/deposit/fees are
paid, your keys will be available for immediate occupancy (or upon the time that the
home is ready for occupancy).
Screening your application includes verifying your income or ability to pay, contacting former
and current landlords, running a credit check, criminal history, and public records check. By
digitally signing the online Rental Application, you have authorized us to contact such agencies
as necessary, and authorize them to release information to us so we may evaluate your application.
If we deny tenancy based on information discovered during the screening process, you have the right
to receive copies of such information upon written request from the credit bureau (Experian)
directly, to determine and dispute the accuracy of the information for which a denial is made. We
are not required to investigate or dispute matters on your behalf and/or to release or disclose
information except as required by law. Homes may not be held during an ongoing dispute resolution.
Chicagoland Leasing and Management's Tenant Qualification Standards
Preview the property first: You must schedule an appointment with your agent or our Showing Agent to see
the inside of the property. Chicagoland Leasing and Management does not rent properties "sight-unseen"
unless special circumstances apply.
Complete And Sign Rental Application: A separate Rental Application is required for each adult,
18 years of age or older, intending to occupy the Premises. Each Rental Application must be filled
out completely and signed by the applicant.
Complete And Sign Personal Information Release Form: All tenant applicants must legibly and truthfully
complete and sign a Personal Information Release contained in the application authorizing the landlord
or landlord's agent the right to obtain personal information about the applicant's credit, criminal,
rental and employment history.
Pay a Non-Refundable Rental Application Fee: A processing fee of $50 must accompany each Rental Application
(credit card info collection online with application). Personal checks are not accepted. The processing
fee is non-refundable. No Rental Application will be processed without a processing fee. Rent, deposits
or other fees are not accepted without an approved Rental Application. Applicants may submit their payment
in person when submitting an application or complete an online application through the website. Rental
application fees are non-refundable once received, except in cases where a prior applicant was approved,
or if the property becomes unavailable to rent.
Applicants Must Be of Legal Age: All tenant applicants must be a minimum of 18 years of age to enter
into a valid lease agreement in the state of Illinois.
Occupancy Maximums: The normal maximum occupancy is two persons per bedroom plus one additional occupant.
Persons under two (2) years of age may or may not be included in the count.
Valid Personal Photo Identification: A valid (non-expired), clear and readable photo identification
(driver's license, military ID, State or Government ID, Passport) must be attached.
Renter's Insurance Required: Active Renter's Insurance is required for all adult occupants
(18 years or older) residing upon the property. All may be listed on one policy, or optionally,
tenants may obtain their own individual policy. The policy must remain in effect for your entire
tenancy and is a requirement for lease renewal. Proof of insurance is required at time of possession,
failure to provide proof of insurance may result in delay of possession or cancellation of lease.
Minimum liability coverage must be $100,000, and Chicagoland Leasing and Management must be listed as
an "additional interested party" on the policy. If your preferred insurer will not name Chicagoland
Leasing and Management as an additional interest on the policy, contact us for references to insurers who will.
Verifiable Residency History: Residency must be verified for a minimum of the last twenty-four months (2 years)
with no interruptions. Rental history references must reflect timely payment, appropriate notice of intent to
vacate, no complaints regarding disturbances or illegal activities, no history of violence or threats and/or
intimidation of others, no NSF checks, no damage to previous rental units, and no failure to leave the premises
clean and without damage at the time of lease termination. Rental History must be verifiable from unbiased sources.
If you are related by blood or marriage to one of the previous landlords listed, or your rental history does not
include at least two previous landlords, we may require an increased security deposit on your lease. It is your
responsibility to provide us with information necessary to allow us to contact your past landlords. We reserve
the right to deny your application if, after making a good faith effort, we are unable to verify your residence
history. If you owned rather than rented your previous home, you may need to furnish mortgage references and
proof of title, ownership, or transfer.
A credit report from a national credit reporting agency will be obtained on all applicants. Any applicant with
a history of eviction or landlord judgment for past-due rent will be denied. All applicants must be creditworthy
and have no greater than reasonable, any charge-off accounts, accounts placed for collection, late payment
accounts, or bankruptcy within the past twenty-four months. Three (3) or more unpaid collections (not medical related)
in the past 24 months may result in denial of your application. In some cases, however, bad credit does not
automatically disqualify an applicant from consideration. Those applicants who demonstrate financial stability,
and/or have an acceptable landlord history, and/or post an increased security deposit may be given further
consideration. Chicagoland Leasing and Management may require a security deposit to be increased by not more than
two times the rental amount for an unfurnished home, and not more than three times the rental amount for a furnished home.
Credit Score Guidelines:
Above 640 - Approved
600-639 - Conditionally approved (other factors like income, job stability, and landlord reference will
influence final decision and additional deposit will most likely be required if aplicant(s) are approved.
Additional deposit is typically 1.5-2 times the monthly rent amount).
599 and lower - Declined. In certain circumstances, applicants going through a recent hardship
(i.e. foreclosure or short sale) may be approved with additional deposit).
Foreign Exchange Students: Typically approved with double deposit if no credit history in the U.S.
Verifiable Source of Legitimate and Sufficient Income: All tenant applicants must have a verifiable
source of legitimate income for the total household equal to at least two and one half times their
monthly rental rate.
Verifiable Ability to Pay: The ability to pay rent will be verified on all applicants.
Reliable documentation for income sources must be provided. Self-employed applicants may
be required to produce the previous year's Tax Return (1040), recent bank statements, or
other evidence of financial ability to pay. Applicant may, at applicant's discretion, provide
payroll check stubs or other income statements covering a minimum of the last six months as
additional documentation to assist in verifying current employment and income.
No Violent or Repeat Non-Violent Criminal Conviction History: All tenant applicants must
have no violent or felony criminal convictions and no violent or repeat misdemeanor criminal
convictions within the past seven-years. Any felony or misdemeanor conviction involving, drug
related offenses, property damage, weapons, assault, or any other conviction involving moral
turpitude may be grounds for disqualification. Pending charges or outstanding warrants for any
of the above will result in a suspension of the application process until the charges are resolved.
Upon resolution, if an appropriate unit is still available, the processing of the application will
be completed. No unit will be held awaiting resolution of pending charges.
All Animals Must Be Disclosed on the Rental Application and must complete separate Domestic Pet Application.
Animals are permitted only on certain properties at the sole discretion and approval of the Property Owner.
Only non-violent, common domesticated household pets will be allowed on any property that permits animals.
Unless specific zoning regulations permit, farm animals, snakes, other reptiles, exotic animals, and any
large or aggressive animal will not be approved. Rottweilers, American Staffordshire Terriers, Pit Bull
Terriers, American Bulldogs, Akitas, Shar Peis, Presa Canarios, Dobermans, Dalmatians, German Shepherds,
Chows, Huskies, Alaskan Malamutes, Great Danes, St. Bernards, Mastiffs, Wolf hybrids, and mixed breeds
including any of the above mentioned or any other breeds expressly prohibited by owner's home insurance
policy will not be approved. Rare exceptions may be granted for licensed breeders, trained military/K9
working dogs, or qualified service animals covered by a renters insurance policy. For any animal that
is approved, an additional security deposit of a minimum of $250.00 per animal is required or $175.00
non-refundable fee for City of Chicago properties, and a $50 annual renewal fee will apply. Fees or
security deposits in addition to these amounts may be required at the sole discretion of each individual
Property Owner. It is the policy of Chicagoland Leasing and Management to waive animal restrictions in
the case of a qualified "service animal" to accommodate a person with a disability. A clear and current
photo (attach online) of each animal expected to reside on the premises must be submitted with the Application.
Application Processing Timeframes: Typical application processing can be one to three business days.
Occasionally, it may take longer to process an application based on inability to contact your references.
If your references are unable to be contacted, your application may be further delayed. While Chicagoland
Leasing and Management will make reasonable efforts to verify the information provided, and will attempt
to contact the applicant if there is a delay in verification, incomplete or unverifiable information may
result in declining a Rental Application. Upon completion of processing the applicant will be notified
immediately that the Rental Application has been approved or declined.
Upon approval, Security Deposit must be paid in certified funds or online and sign a Lease Agreement
within 24 hours. No less than one business days prior to occupancy and present all monies due rent,
security deposit, animal fees, key deposits, and any other sums due. All first payments must be made
online via Paylease or in certified funds (official bank cashier's check or money order payable to
'Chicagoland Leasing and Management') prior to taking possession of Premises. Rents and security
deposits must be paid separately from one another, therefore two separate checks or money orders
are required. In the event that any applicant fails to post the security deposit within 24 hours after
approval, it will be assumed that the applicant has withdrawn his or her interest and the Premises will
be offered to others.
Applications will be processed in the order received: Rental Applications from other applicants are
accepted until a Rental Application is approved. Chicagoland Leasing and Management cannot guarantee
that any unit viewed will still be available by the time the Rental Application is processed. Because
of the fiduciary relationship Chicagoland Leasing and Management has with Property Owners, if more than
one Rental Application is submitted before approval can be completed, then the best qualified applicant
will be approved for placement.
Security Deposits and Surety Bonds: Applicant will be required to pay a security deposit at the
time of lease closing equivalent to the amount of one month's rent, minimum. Security Deposits will be
held in a non-interest bearing trust account managed by the Owner and will be returned to the tenant at
the termination of the lease in accordance with the lease and state law. Tenants leasing properties
located in the city of Chicago pay a $350-$700 non-refundable fee for a surety bond in lieu of a
traditional security deposit.
Co-Signers: In certain situations, at Chicagoland Leasing and Management discretion, a higher security
deposit, and/or additional pre-paid rent, and/or guarantors (co-signers) may be accepted in lieu of
acceptable credit and/or landlord history. A guarantor/co-signer must complete a Co-Signer Application
packet, pay the application fee, and be qualified in order to be a guarantor. We only accept co-signers
for full-time student applicants who are 24 years of age or younger.