To: All Stakeholders

Subject:  JRealty Leasing Opinion and Recommendation

 

Dear Stakeholder,                               

 

JRealty gathers Prospective Tenant (PT) information and formulates an Opinion, which is shared with the Landlord (L).  Much like a bank, JRealty’s Opinion relates to the ability of the PT to complete the terms of their contract which includes, but is not limited to, the PT’s ability to pay the rent in full and on time for the duration of the term. We like to see a scorecard of 0.

 

#1  JRealty is an Equal Housing Opportunity 

JRealty DOES NOT discriminate on any of the following:

• Race (including hair texture and style)
• Color
• Ancestry
• Religion
• Sex
• Gender
• Sexual Harassment
• Sexual Orientation
• Gender Identity
• Gender Expression
• National Origin
• Source of Income
• Marital Status
• Familial Status (children under the age of 18, pregnant, or becoming a legal custodian)
• Disability (mental and/or physical)
• Medical Condition
• Military or Veteran
• Genetic Information
• Primary Language*
• Immigration Status*
• Age (if over 18)*
• Citizenship*

*Covered under the Unruh Civil Rights Act, which applies to most housing accommodations in California  

 

Please do not submit a personal letter, a picture of yourself, your family, or your roommates as we explicitly do not take into any consideration any of the attributes listed above.

 

We use the following criteria to formulate recommendations on all PTs.  

 

You can learn more here:

• Fair Housing Act 
• Fair Housing Rights and Obligations
• California Fair Housing Regulations

 

  

#2  Rent to Income Ratio

We like to see a rent to income ratio of less than 32%.  It is calculated by [Monthly Rent divided by Before Tax Monthly Income].  For the income to count, it must pass #4.  Income verification, such as pay stubs or 1099 statements, will be requested.

 

Rent to Income  (of your gross income)	Rent < 32%	0
	Rent => 32%	10

 

#3  Equifax Credit Score

The credit score must be tied to the same person who has the income. Please see A Guide to Equifax Credit Report Terminology document, understanding the FICO score range, and what your score may mean.

 

FICO Score	> 650	0
	<= 650	10

 

#4  Manager Discretion

JRealty reserves the right to exercise ‘Management Discretion’ within the process of pre-screening/showing/leasing units.  If a potential tenant otherwise meets the admission criteria but we are not comfortable leasing to PT due to dialog that we feel PT might not happy with the unit, or communication that is uncomfortable, confrontational, rude, threatening, or otherwise inappropriate, we may use the Management Discretion as the sole basis for recommending rejection. 

 

Manager discretion

0 to 10

 

 

 

Q&A Screening and Showing

 

1.  Q: How much does it cost to apply?  A: The non-refundable application fee is $40.  You will be prompted to pay via credit or debit card on the screen following the application questions.  We do not accept cash; however, you can pay with a cashier’s check or money order.

2.  Q: Can I supply my own credit report?  Sorry, but we want to verify the authenticity by pulling our own report.  We also want to make sure all applicants are measured on the same criteria.  We do not accept ‘Reusable tenant screening reports”, however, you can reuse a report that JRealty pulls for up to 30 days

3.  Q: How much is the security deposit?  A: The security deposit recommendation is based on the total strength of the Application.  It is most common for the security deposit to range from 1.25 to 1.75 times the monthly rent.  There are many factors that we consider, but the single greatest is FICO score.  Other factors include pets, length of current and previous employment, type of employment, length of current and previous residence, length of credit history, and manager discretion. How much extra is a security deposit if there is a pet? It will depend mostly on the quantity and type of pet(s).  It is factored into the total strength of the application.

4.  Q: I have the credit and s/he has the income.  Is our application okay if we apply together?  A: Sorry, but in order for income to count the individual must pass the JRealty Credit Test.  We would likely require two applications in this case, one application from each Tenant.

6.  Q: How long does it take to process an application? A: It normally takes 3 to 5 business days to process your application.  Delays are possible due to many factors.

7.  Q: Can you hold off on contacting my employer or current landlord until I notify you?  A: Yes.  We will not contact these parties if you specifically request us not to.