Potential Applicants must submit a fully completed PPMI Rental Application along with the processing fees and an earnest money deposit.
Until a fully executed and signed application along with any additional required documentation and checks for processing fee and security deposit properly made out to PPMI are received in PPMI’s office, there is no application to be considered. All parties over 18 years of age who are not presently a full time college or technical school students and who will reside in the property must complete and sign an application and be processed; whether their income is to be considered in qualifying for the home or not.
Applications received in PPMI’s office are held until 4pm the day they are received. At this time a review of all applications received for the same property is performed. The application with the best qualifications pertaining to financing, pets and or start date will be selected for processing beginning the following work day. This application review may require a formal discussion with the Landlord, which may delay the start of processing. Based on the application information verified, credit report, criminal report and other verified criteria PPMI will either approve or deny said application. Should there have been multiple applications and should one or more of these applications have desired to become “back up” applications; then PPMI shall follow the same procedure as outlined above and select another application to process if the first application is denied. If an application is denied then the earnest money deposit presented with the application is available to be picked up by applicant(s), their agent or is destroyed by PPMI. The processing fees will not be refunded.
Once an application has been formally approved, PPMI prepares a lease and applicant(s) are required to execute same within 3 days of being notified, either verbally or in writing, that they have been approved. After that point the applicant(s) earnest money deposit becomes at risk should they fail to execute a lease thereafter. In order to avoid delays PPMI provides a copy of a blank lease on this website or one can be picked up or faxed so as to facilitate a speedier completion of the lease execution. This allows applicant(s) to read, review and ask to have answered any and all questions regarding the lease in advance of the actual approval and the 3 day time clock for them to execute said lease. With varied time and location issues most leases are forwarded to Landlord(s) executed and returned to PPMI long after the lease has actually begun. If an approved applicant(s) fail to or refuse to sign PPMI’s standard lease then the process of finding another applicant(s) shall commence again. Listing agents shall be informed of the need to either change status of the listing to application registered, rented or back to fully available within 24 hours of approval, denial, or applicant(s) refusal to sign a lease.Rental Application Qualifying Criteria