Frequently Asked Questions
For Potential Renter
-
What are your qualifications for getting approved?
Everyone over the age of 18 must submit their own application and pay their own application fee. Regardless of marital or employment status. We must run credit and background on all potential tenants. We will look at the credit history, background, past rental history, and calculate a debt-to-income ratio. Ideally, we would like tenants to be around 40% or less. To get an idea of your debt-to-income ratio you would calculate all debts you have including the new rent amount and divide it by your net income (after taxes and not including OT). Applications can get denied with any credit score. However, if the credit score (or average of scores if more than one person is applying) is between 550-599 the security deposit will get doubled automatically. Any score 549 or below is automatically denied. Evictions must be paid in full and at least 5 years old. Bankruptcies must be discharged for 5 years and no more negative debt accumulated. Money owed to a previous landlord is considered an automatic denial. The application process typically takes between 1-3 business days after we receive all required documents (proof of income, pictures of pets, photo ID, etc). We will not make a decision on an application without receiving rental verification from current/previous landlords. We do not reach out to friends or family for rental verifications.
-
What can I use as proof of income?
If you are military, then we will need your most recent LES. If you are a civilian, we will need your last (3) three months of your full paystubs (it will need to show the pay period, your pay rate, hours worked during pay period, and if any overtime was worked. We do not accept bank statements. If you are relocating or have just started a new job then you will need to provide us with an offer letter from your future employer (it will need to show start date, pay rate, hours anticipated to work during pay period, and frequency of pay). If you are a business owner, you will need to provide (3) three years of tax returns for your business.
-
Do you accept Housing Choice Vouchers (HCV/Section 8)?We do accept Housing Choice Vouchers. However, only certain properties participate in the program. Please call our office to see if we have any available rentals accepting the voucher.
-
Are 12 month leases the only lease term offered?A lease for less than 12 months requires prior approval from the homeowner. There are also additional fees for shorter term leases. Generally, a 6-month lease would be a $100 rent increase and a month-to-month lease would be a $200 rent increase.
-
How can I hold a property?We cannot hold a property without a full holding fee being placed. Holding fees are equal to (1) one month of rent. We accept holding fees on a first come, first serve basis. Holding fees are converted into your security deposit contingent to approval. Holding fees are only refundable if your application is denied for any reason. If you are approved but change your mind, the holding fee is non-refundable. You can place a holding fee via cash, cashier’s check, money order, or through Venmo.
-
How can I pay my security deposit?If your application has been approved and you did not place a holding fee while in the application process, you can pay your security deposit via cash, cashier’s check, money order, or Venmo. Our Venmo user name is “MyPlaceRealty”, our company logo will be displayed as our picture as well. If it asks for the last 4 digits of the phone number please use “1232”.
-
What should I expect to pay on move in day?We require the first full month of rent on move in day and the second month you’ll pay a prorated amount for the days you occupied the unit the month you moved in if the date was not on the 1 st of the month. We require a $200 non-refundable administrative fee be paid prior to receiving keys and pet charges/rent (if applicable).
-
Do you have a military clause in your lease?We follow the strict guidelines of the SCRA (Servicemember Civil Relief Act).
-
Do you allow pets?We allow a maximum of two pets per our pet policy. A majority of our properties require owner approval for all pets. We recommend prospected tenants calling our office to confirm their animal isn’t on our restricted breed list prior to applying. We do require non-refundable pet fees/monthly pet rent if owner approves pets.
-
What is the application process?Each person over the age of 18 that will be occupying the premises must fill out a completed application. You can apply for a property online at our website or in person at our office. You will be asked to provide proof of income, rental history, and information regarding any pets.
-
What are the application fees?A $40 application fee is required of each person over the age of 18. The fee can be paid online via a credit or debit card, or brought to our office in the form of cash or money order.
-
How long will it take for me to find out if I’m approved?We do a comprehensive background, criminal, rental history, and eviction check on each applicant. Our goal is to have a decision to you within 3 business days AFTER receiving all necessary documents.
-
Do you offer other lease terms other than 12 months?A lease for less than 12 months requires prior approval from the homeowner, in which there is an extra monthly fee of $100 for a 6 month lease, and $200 for month to month.
-
What company do I use to set up trash services?If you are occupying a single-family home and need to set up trash services you can choose any company that you would like. There are several available in the Clarksville. Our office uses Waste Connections. They are located at 50 Reynolds St Clarksville, TN 37040 and their phone number is (931) 552-3010. If you are in a property that has trash included you will still receive a bill from “Bi-County Solid Waste Management” that is your responsibility. Everyone in the bi-county area receives that bill. It used to be combined with electricity bills years ago but has since been separated. It is for all residents in the bi-county area having access to the landfill.
Where should I go to turn my utilities over into my name?
Clarksville Department of Electricity – “CDE” Lightband
2021 Wilma Rudolph Blvd.
Clarksville, TN 37040