RENTER QUALIFICATIONS

Our Residents are Partners too.

Here’s everything you need to provide as a potential resident to ensure a smooth application process.

Applicants

Each person who reside in the home over the age of 18 must complete a rental application. The Application fee is non-refundable and is $40 per applicant. This fee is used to process credit and criminal background checks.

Lease Terms

Our standard lease term is a minimum of 24 months on single family homes. We will consider a 12 month lease on Multi-Family units.

Qualifications — the following items below will be evaluated towards selecting the best qualified individual to move into our homes. 

  • Provide a valid state ID & social security card
  • Provide a recent MLGW bill with a $0 balance
  • Credit score will be evaluated to assess the eligibility to effectively pay the rent on time
  • No prior evictions or bankruptcies within 5 years
  • Criminal background screening
  • Proof of good rental history. Make sure you have already given notice to vacate to your current landlord. Most landlords will not verify rental history until the resident has presented their notice to vacate
  • Responsible payer(s) for the rent ideally must make 4x the rental amount. If 4x rent is not possible, we will evaluate the income and debt obligations that would show up on a credit report to assess the ability to pay rent on time. To verify income, we require the 2 most recent pay periods. If you are starting a new job, an offer letter from your employer on company letter head with your managers work phone number will be required. Documentation of any additional income, SSI, alimony, child support or any other benefits must be provided
  • Self employment income must be supported with the previous year tax return, current year profit and loss statement and 6 month worth of bank statements.

Pre-Payments – Move in Cost

We do not take a deposit, rather we charge a non-refundable reservation fee that will take the property off the market and reserve for you until the lease signing day.

  • Depending on your credit score, the reservation fee will be up 1x to 1.5x the rent amount. That fee reserves the property for you. Because we remove the property from available status, under no circumstances will this be refunded if you change your mind about moving into the property
  • Pet fees are due at the time of lease signing
  • On the day of move in, there will be a $175 non-refundable administration fee

At CB Properties we believe that everyone deserves to be treated fairly at all times. As an equal opportunity housing provider, CB Properties provides housing opportunities regardless of race, color, national origin, religion, sex, physical or mental disability, familial status or any other classification protected by applicable federal, state or local law. Our commitment to fair housing provides an opportunity for all individuals living in one of the properties we manage to call “home”

1060 Brookfield, Memphis, TN 38119

(901) 620-6787

info@cbpropertiesmemphis.com