Note: $50 Application Fee must be paid with application. All Application fees are non-refundable.

Virginia Realtors Tenant Selcection Criteria

APPLICATIONS: All Applicants must meet the criteria for acceptance set forth in this Resident Selection Criteria. All

persons age eighteen (18) years of age and older must submit a Rental Application and qualify individually as a Resident. All

Applicants are required to provide either a social security number or individual taxpayer identification number issued by the

U.S. Internal Revenue Service in accordance with Section 55-248.4 of the Virginia Residential Landlord and Tenant Act. In

addition, all Applicants must sign the Agency Disclosure form as required by Virginia law. Supplying false, misleading, or inaccurate information, or omitting information may be grounds for disapproval.

Management complies with all federal, state and local laws including fair housing laws which prohibit discrimination based on

any protected class underal federal, state or local fair housing law or regulations, or the REALTOR Code of Ethics.

INCOME: The following guidelines are used in determining sufficient income requirements for Applicants:

• A. Gross income for single persons should be at least three times the amount of the rent.
• B. Combined gross income for married persons should be at least three times the amount of the rent.

All income must be verified through Applicant’s employer, or you must provide two recent pay stubs. A signed release from

Applicant may be necessary to obtain this information.

CREDIT: A credit check through a local credit agency is performed on all Applicants. A history of good credit must be

established. Evidence of a history of poor or delinquent credit, absence of credit, absence of gainful employment or income

to meet income requirements may be grounds for disapproval. Judgments or collections that appear on the report may be

cause for rejection of Applicant. Any Applicant with a bankruptcy must show a discharge more than one year ago and have

established new credit with a positive rating with at least one account. In the discretion of the Managing Agent, hospital

related debt may not disqualify you if you have entered into a written payment plan and you are current with your obligation

under the payment plan.

EMPLOYMENT VERIFICATION: Applicant must provide two years of employment history. If current employment history is

less than 2 years, previous employment will be verified. Current and/or past employment will be verified, including salary,

position, length of employment, and probability of continued employment (if employment history is not available, Applicant

must have good credit history, rental reference, and current or new employment must be verifiable).

RENTAL HISTORY: Two references are obtained from previous landlords, if possible, relative to payment history, length of

rental agreement, amount of rent, damages, and violation history. If Applicant is breaking an existing rental agreement, it

must be determined what liability the Applicant has under the current rental agreement, which may affect the Applicant’s

ability to pay current rent. Any adverse information relating to these areas is grounds for rejection of Applicant.

• A. You will be denied if you have a record of being late in paying rent two consecutive times, or more than four time collectively.
• B. You will be denied if you have a record of material noncompliances with the rental agreement, rules and regulations, or applicable local, state or federal laws.
• C. You will be denied if you have an unsatisfied collection and/or judgment with a previous landlord, or have an evictions from previous housing.

AGE: All persons age 18 and older must complete a Rental Application, and qualify individually as a Resident. No person

over age 18 may reside in the apartment without being approved as a Resident, and listed as a Resident on the Lease.

INFORMATION VERIFICATION: Applicant will be asked to provide verifiable information or documentation to support

application items. These may include, but are not limited to, “Leave & Earnings Statements”, pay stubs, evidence of taxes

paid in past years, personal identification, or notarized confirmation of employment. Failure to provide such documentation

may be grounds to reject Applicant.

C0-SIGNERS/GUARANTORS: Co-Signer/guarantors may be accepted for those applications where the Applicant has insufficient income or other credit deficiences as determined by Managing Agent. All co-signers/guarantors must be residents of the Commonwealth or Virginia.

PREPAID RENT:  If Applicant has insufficient income or other credit deficiencies, Landlord may offer Applicant a lease upon the condition Applicant pay prepaid rent.

CRIMINAL HISTORY: A criminal background check through a third party may be performed on all Applicants with approved credit. Evidense of a criminal conviction may be grounds for disapproval. All reports of criminal convictions will be evaluated with the opportunity for the Applicant to proivde additional information about the facts and circumstances surrounding the conviction. Any conviction for manufacturie and/or distribution of illegal drugs  shall be grounds for disapproval. 

DISAPPROVAL: The following actions by any occupant of a household may be grounds for disapproval of Applicant.

• Tenant Selection Criteria: Applicant's failure to meet any of the Tenant Selection Criteria may be cause for disapproval.
• Drug or Alchohol Use: Any current use of an illegal drug will be grounds for rejection fo an Applicant. Any evidence of current alcohol abuse that manifests conduct that poses a threat to the health or safety of other residents will be grounds for rejection of application. Any report of having  sold or used a controlled substance may result in disapproval.
• Inadequate Housekeeping: Any history of inadequate housekeeping may be cause for rejection of an Applicant, which generally includes any conduct, inaction, or neglect which could result in health or safety problems or in damage to the premises or any equipment, appliances, or other items therein.

All adults, age 18 years or older, who will be living in the property, as well as guarantors or co-signers, will need to complete an application.

The application fee is $50 per adult, non-refundable. 

The fee goes to the  administrative costs for reviewing the information, obtaining credit, background checks and references. 

Each property listing will show whether pets are accepted or not at the specific property. This varies depending on Owner, community and HOA requirements. 

If permitted, tenants must complete a pet screening, provided in the application form.

A refundable pet deposit of $250 per pet is required. 

A monthly pet fee of $25 per pet is charged. 

Of course, VIP Rentals is available to assist you, contact us at 804-404-5306 or email VIPRentalsrva@gmail.com.

We are licensed Real estate agents ourselves and welcome the opportunity to work with colleagues. Offering property owners the option of property management instead of selling is a great wealth building opportunity.

We offer agents a referral fee  of 1/2 of our first month's commission.

In addition, agent's retain that client. If  owner's decide to sell at a later date, they will be sent back to the original agent!

Upon Move out, Tenant will be responsible for the following:

1. Remove all personal belongings, furniture, clothing, trash, etc.

2. Thoroughly clean property.  Floors are to be swept and mopped.  

3. Wipe down all walls, treat any marks (marker, stains), and patch any holes (including nail holes) kitchen walls and cabinets must be free of grease and food particles.

4. Range, burners, broiler pans, oven racks, drawers, range and hood (including filter) must be cleaned

5. Refrigerator must be cleaned and defrosted.

6. Clean the interior of the dishwasher

7. Professional steam clean all carpets, provide receipt to management company as required by lease agreement.

8. Clean entry door. Interior doors damaged - holes, scratched, broken will be repaired and charged to Tenant. 

9. Any abnormal wear and tear on home, floors, walls, carpet, appliances, counters will be charged tenant.

10. Bathroom(s) must be thoroughly cleaned. All rubber mats removed. Clean tiles around tub.

11. Patios, balconies, sheds must be empty, and broom swept.

12. All door keys must be returned to management

13. All light bulbs must be in working condition.

14. Air vents, sliding door tracks are to be clean

15. Damage to doors, appliances, fixtures, screens, windows, countertops will be repaired or replaces and charged to tenant.

16. All rent and other outstanding charges must be paid through lease expiration date.

17. Utilities must be canceled as of the termination date of the lease, bills paid in full through termination.

18. Contact Management company to arrange move out inspection when property will be empty of belongings and fully cleaned. Tenant has the right but is not required to be present at move out inspection. 

Renters Insurance

Tenants are required to provide proof of Renter’s Insurance upon move-in. In addition to providing protection for the tenant’s personal possessions, this helps protect your properties from accidental tenant-caused damage (like kitchen fires or water damage).  If they fail to provide this, the tenant will be added to our blanket master commercial policy (at no cost to you). This policy will provide protection for your property that otherwise would have been provided by the renter’s insurance policy.  

Maintenance Authorization

Our management agreement authorizes us to spend an amount up to $350.00 without prior consent.  This allows us to do routine maintenance as is needed without having to wait or hassle you for approvals. This allows our service professionals to do their jobs in the most efficient and cost effective manner possible.  Of course, before doing any major repairs, we will contact you for pre-approval. 

Maintenance Account Reserve

When we have been notified by your tenant of their intention to move out of your property, you will be promptly notified.  For your convenience, we will withhold from the final rent a maintenance reserve in the amount of $350.  This is done to provide a fund to cover expenses during the time that your property is vacant.  These expenses include utilities expenses, property maintenance, repairs, lawn care, etc.  Otherwise, you would have to deal with having the utilities put back into your name and handle all these minor expenses during the short vacancy period between tenants.  This helps you avoid the time and hassle of dealing with all of this during this short period of time. 

Ideally, we will put a new tenant in place quickly and the reserve amount withheld less any expenditures used will be forwarded to you along with the new tenants first month’s rent.  You will be provided a monthly accounting of expenses used during that time.  

Renewal Fee

At the expiration of a tenant’s lease, a renewal fee will be charged in the amount of $150.  This fee provides for the following services:

• Reassessing current market rent rates.

• Arranging property inspections to assess current condition.

• Determine owner’s needs regarding lease extensions.  

• Reaching out to tenant to negotiate lease renewals.

• Obtain signed renewal letter or a new lease agreement.

Questions regarding the Standard Property Management Agreement

Non Resident Owners

The Commonwealth of Virginia requires non-residents to register their address with the state for taxation purposes.  We will be happy to provide a form to you upon request.  

If a non-resident owns 4 or more residential properties for lease, they are required to provide a Registered Agent as well.  

Liability Insurance

For your protection, and for your property, as well as ours and the protection of our staff we require our owners to carry property damage and liability insurance as outlined in the agreement. 

Mortgage Payment Questions

Section 48.  Property management agreement is checked only in the event that we are making your mortgage payments on your behalf.  This is not our policy.  We will be submitting your rental proceeds to you on a monthly basis for you to disburse as necessary.

Section 51. This section also refers to mortgage payments.  We require at the signing of the property management agreement the submission of a current mortgage statement verifying that all mortgage payments are current on the property.  We reserve the right to request this verification on request, annually, or upon renewals.