Screening Criteria and Fee Disclosure

THE APPLICATION FEE OF $35.00 PER ADULT IS NON-REFUNDABLE

Each adult 18 and over must complete a separate online application. It is in your best interest to read and fully understand our rental criteria to ensure that you meet the rental requirements before applying.

NOTE:  If you are a group, we will not begin the screening process until all online applications for the group have been submitted.

 

APPLICATION PROCESS AND SCREENING CRITERIA

Clockwork Property Management is committed to conducting business in accordance with Federal and California fair housing laws. Each occupant 18 and over must complete an online application and pay the $35.00 application fee. Our screening process looks at a combination of factors, including but not limited to:

  • Credit History
  • Employment Verification and History
  • Income Verification
  • Rental Verification and History
  • Criminal Background Check
  • Terrorist Database Search
  • Animal Criteria

Identification

Each applicant is required to provide a copy of a legible government issued photo identification card.

Income & Employment Verification

Income is verified through various documents including pay stubs, bank statements, earnings statements, tax returns, etc. Self-employed applicants s are required to submit at least 2 years of tax returns and 3 recent months of business bank statements. Your employment history should reflect at least 6 months with your current employer. Transfers or relocations must have correspondence showing an accepted job offer. Any verification fees required by the employer must be paid by applicant.

Rental Verification & History

We require verifiable residence history for at least 3 years. Applicants are responsible for providing information including the names, addresses, and phone numbers of landlords with the dates of tenancy for the previous 3 years. Applicants should also notify their previous landlords and advise them that a rental verification will be made. Home ownership will be verified from a current credit report and MLS reports. Any evictions in your rental history will severely lower your chances of being approved. All extenuating circumstances will be considered and may lead to a maximum security deposit and additional charges.

Credit History

We will obtain a copy of your screening report and FICO score from AppFolio, Inc. and Experian. You cannot provide your own report, we are required to obtain this information ourselves. Favorable credit histories and scores will give you a higher chance of being approved. Any applicant with a bankruptcy in the past three years will not qualify.

Multiple Applicants in Group

All applicants will be screened and given consideration as an overall group. If applicants with strong credit profiles apply with weaker applicants, we consider the whole group and base our decisions on a combination of factors. One strong credit profile in the group does not automatically guarantee an approval.

Criminal, Sex Offense, and Terrorist Database Check

We check these databases for all applicants 18 and over. As a precaution to the safety of other residents and neighbors we do not rent to any person required to register as a sex offender. Circumstances related to criminal convictions are evaluated on an individual basis. Criminal backgrounds involving violent crimes, prostitution, domestic violence, the illegal possession of weapons, or the sale or manufacturing of illegal substances can be grounds for denial. We do our best to evaluate all circumstances fairly and objectively. Provide as much detail as possible concerning any criminal conviction.

Errors & Omissions

Every effort is made to provide you with reliable and accurate information regarding the home you are applying for. However, changes can and do happen to cause inaccurate information to be accidentally presented. We encourage all tenants to verify schools, allowable pets, expected features, or any HOA concerns prior to signing a lease agreement. Any information posted in our printed and online advertisement does not constitute a written agreement or guarantee of the facts stated.

 

RISK MITIGATION PROGRAM

Our history has shown that applicants with FICO scores of 619 or lower generally pose a greater risk to our homeowners and the management company. To offset this risk and to give such applicants an opportunity to rent a home, we have introduced a risk mitigation program that adequately addresses these risks for our homeowners.

Applicants with a FICO score of 619 or lower may be subject to a Risk Mitigation Charge as outlined below:

FICO scores of 600-619 will incur a charge of $250. FICO scores of 580-599 will incur a charge of $750. FICO scores of 560-579 will incur a charge of $1250. Any score of "N/A" or "No Credit" will be considered less than 620 for screening purposes.

FICO scores under 560 do not qualify and will not be considered.

Clockwork Property Management maintains the right to offer this program on a case-by-case basis. We offer it only after other compensating factors in the screening process have indicated that the applicant will be able to succeed in the program. We will not offer risk mitigation to those applicants who we determine do not have the financial capacity to be successful in this program.

 

REQUIRED LEGAL LIABILITY TO LANDLORD INSURANCE

All tenants are required to carry liability insurance. Coverage is required in the amount of one hundred thousand dollars ($100,000.00) for damage to the landlord’s property during the term of their lease. The provisions should at least cover losses for fire, smoke, explosion, water damage, backup or overflow of sewer, drain or sump, falling objects, riot, or civil commotion. Tenants are also required to name Clockwork Property Management as an “Interested Party”. Such a policy shall be written not contributing with, and not in excess of, coverage that the landlord may carry, and must waive all rights of subrogation against the landlord and the management company. It is agreed that the landlord carries insurance for their protection, and that the tenant is not a beneficiary of such insurance. The tenant shall be responsible to the landlord for all costs of repair for damages as stated in the lease regardless of any existing landlord insurance.

Clockwork Property Management will automatically purchase a Property Damage Liability Insurance policy for a tenant and add the cost of the monthly premium to the rent each month. The rent and the monthly insurance policy premium are due on the 1st day of the month. Tenants may OPT OUT of this automatic policy at any time by providing written proof of the following three items:

  • Evidence of required insurance levels to show the policy is in effect, when it will start and end, and who is named on the policy.
  • Clockwork Property Management must be named as an “Interested Party” to the insurance binder provided by the tenant.
  • Coverage must be $100,000 or greater in tenant liability coverage for the property.

Cost of this policy through Clockwork Property Management is $9.50 per month plus a $3.00 administration fee for a total of $12.50 per month.

Failure to Maintain Insurance

If the tenant’s coverage for their independently self-procured tenant liability insurance is lapsed by either non-payment or non-renewal after lease execution, Clockwork Property Management will automatically purchase a policy for the tenant and add the cost of the monthly premium to the rent each month. A one-time set up fee of $75.00 will also be charged.

IMPORTANT:  Limited Coverage Notice

Legal Liability to Landlord insurance is not personal liability or renters insurance. The policy does not cover any of your personal belonging, additional living expenses, or liability arising out of bodily injury or property damage to any third party. If you require any of this coverage, you should contact an insurance agent or insurance company of your choice and sign up for a Renters Insurance Policy.

 

INFORMATION ON ANIMALS 

Animal policies vary from one homeowner to another. Some owners do not permit animals, while others restrict type and/or size of allowable animals. No more than two animals per household are permitted without specific owner’s approval.

Most property insurance companies do not allow certain breeds of dogs, either purebred or mixed. Therefore, dogs fully or partially of the following breeds will be rejected: Pit Bull Terriers, Staffordshire Terriers, Rottweilers, German Shepherds, Presa Canarios, Chows Chows, Doberman Pinschers, Akitas, wolf-hybrids, Mastiffs, Cane Corsos, Great Danes, Alaskan Malamutes, Siberian Huskies, and any combination of these. Tenants may be evicted for misrepresenting any of the above type of dog, as well as for being in possession of any poisonous, dangerous, endangered species or otherwise unauthorized animal. Our animal policies are strictly enforced and may be grounds for eviction. Special consideration is given to “Service Animals” that assist a tenant with special medical needs (proper and current documentation needed for verification). We require, with your application, a picture of each animal that will be on the property.

Standard Animal Fees and Deposits

$125 Animal Administration & Acceptance Fee per approved animal due upon lease signing.

$300 Pet Security Deposit per approved animal due upon lease signing.

 

FEE DISCLOSURE - START OF LEASE

Lease Preparation - $75

Applicants will receive their lease electronically and be required to sign electronically. A $75 fee is charged for lease preparation. This covers the costs associated with preparing the legal documents, acquiring the signatures, and collecting the move-in funds. This fee is also charged upon lease renewal.

Move-In Orientation - $85

A Move-In Inspector will contact the tenant a few days prior to move-in to schedule the orientation. The inspector will instruct the tenant on basic home maintenance, including changing air filters, unclogging a garbage disposal, water cut-offs, smoke alarms, fuse & breaker box locations, and GFCI resets. The written move-in inspection report will include interior and exterior photos. A copy of this report will be sent to the tenant. Any maintenance requests or work orders must be separately submitted, outside of the move-in report. An $85 fee is charged for the move-in orientation.

Routine Interior Walk-Throughs

Clockwork Property Management conducts periodic walk-throughs of the home you lease. We take pictures of the interior and exterior of the home and we share these pictures with the homeowner. It is understood and accepted by all applicants and tenants that this is a standard procedure for all homes we manage. If you foresee an issue with this procedure you should reconsider applying for one of our homes.

Late Rent Zero Tolerance

Rent is due on the 1st day of each month. If rent is not received by midnight on the 3rd day of the month it is considered late and a fee is charged from $100 and up. We encourage our tenants to pay rent via our online payment system for the most secure and traceable method of payment.

 

SUMMARY OF KEY POINTS IN THIS DISCLOSURE

  • $35.00 Application Fee per adult is NON-REFUNDABLE
  • Your application can be canceled or delayed, WITHOUT A REFUND, for failing to abide by the rental criteria, guidelines, and terms stated in this disclosure and the application pages
  • FICO scores of less than 620 may be subject to additional fees for risk mitigation
  • A fee of $75 is charged for lease preparation
  • A fee of $85 is charged for move-in orientation
  • There is NO SMOKING allowed inside the home or garage
  • All occupants must be disclosed on the application regardless of age
  • All animals must be disclosed on the application
  • A fee of $125 is charged per approved animal
  • Legal Liability to Landlord (tenant liability) insurance is REQUIRED and can be facilitated through Clockwork Property Management for $12.50 per month