Leasing FAQ
What is “deposit free move-in”?
We work with a system called Obligo! Essentially, Obligo will pay the deposit for you, so you do not have to front the cost of the deposit when you move in. When you move out, if there are any move-out charges, you would then pay Obligo back either the full amount or payments if needed. There is an annual fee to Obligo for this option.
I just started a new job. What if I don’t have 2 pay stubs?
We would be able to accept an offer letter from your new employer. The offer letter must have your name, the number of hours you will be working, what you will get paid, and have your manager’s signature and contact information.
I am self employed, what would you need for that?
In order to provide proof of income we could either take last year’s W2 or 3 months of bank statements.
What are the rents, utilities, deposit, amenities?
To find the answers to most of these questions you can take a look at our website ptmproperties.com/vacancies.
How much are the pet fees and pet rent?
For most of our properties, there is a $350 nonrefundable pet fee along with $15 pet rent per pet. Ask your leasing agent about pet fees for the property you are interested in.
What is the application fee and what are your requirements?
Our (non-refundable) application fee is $50 per applicant and only people over the age of 18 need to apply. We look for a credit score of 600 or higher, an income of 3x the amount of rent monthly (2.5x at properties where heat is paid for), we review the last 3 years of rental history, check for any debts owed to other property management or utility companies, and run a criminal background check.
What if I don’t meet the income or credit requirements?
We are happy to accept a cosigner in the case that you don’t meet these requirements. A cosigner must submit a separate application and must meet all application requirements including a 650+ credit score.
What if I have been evicted?
We require 3 years of positive rental history after an eviction.
What if I have a criminal charge?
Our policy separates offenses into categories with different waiting periods. Applications are reviewed based on the nature, severity, and recency of the conviction. In general, we require one year off probation for misdemeanors and five years off probation for felonies. Please reach out for more details on offenses that would result in a lifetime denial.
How long does the application process take and when can I move in?
In general, applications take 3-5 business days to be completed. Availability date is listed on the website for each unit or home.