Valor Homes 100 LLC
"We will be the best landlord you ever had!"
Standard Qualifying Policy
In order to qualify for a home you will need to show proof of earnings. Please refer to the Earnings Chart below for our qualifying standards. Income must be in the form of recent paystubs, or 2 years of 1099's, W2's or tax returns showing employment with the same company. Your application and proof of income must also be submitted and approved before we will reserve a house for you. If you have paid money to reserve a house, we cannot qualify you until we receive copies of 30 days worth of pay stubs. Once you are approved, you must also provide a clear legible copy of the Drivers Licenses of all those who will be on the lease. All parties on the lease must be present at lease signing or be available to come to the office to sign the lease beforehand. Once we receive all the required information, we are usually able to approve you within one day. We are happy to qualify customers in advance of putting down a deposit. If Valor Homes tries to get in touch with you regarding your lease signing or anything that involves the approval of your application and we are unable to reach you or hear back from you within 3 business days, Valor Homes reserves the right to put the house back on the market. Please be truthful on your application. A prior eviction does not always disqualify you. If you send in your application, you are truthful on your application, you provide your proof of income along with your deposit, we can usually qualify you the same day and you will not risk losing any part of your deposit if you do not qualify. We cannot accept letters from employers who claim to pay cash or income from tips that are not reported to the IRS. Qualifying income includes hourly pay, salary, social security, food stamps, or disability. In order to use Child Support as income, you must show receipt of child support for 6 straight months. We do not accept unemployment income. We want our customers to be in a position to comfortably afford the rental cost as well as other costs of living such as food, utilities, transportation, etc. Based on your earnings, you can determine how much rent you can afford. If you cannot provide proof of income through our approved means, please see our Exceptions to Standard Qualifying section below.
Earnings Chart
Rent: $0-$600- need to make rent plus $1500/month
$601- $700- need to make rent plus $1800/month
$701-$900- need to make rent plus $2000/month
$901-$1100 need to make rent plus $2200/month
$1101 + $1200 rent plus $2400/month
$1201- $1300 rent plus $2600/month
$1301- up need to make rent plus $2800/month
Jim
Exceptions to Standard Qualifying
If an Eviction has been filed on you within the past 2 years from date of this application, and you would still like to rent from Valor Homes, you have the option of paying 3 Security Deposits, one of which can be used as your last months rent. If you've had a felony conviction, you have the option of paying 3 Security Deposits, one of which can be used as your last months rent. You must have been released from prison for 10 years in order to rent one of our homes for a felony conviction. If you were given probation, the date of conviction must be at least 10 years ago. One Security Deposit is equivalent to one months rent. If you are unable to provide proof of your income, you also have the option of paying 3 Security Deposits, one of which can be used as your last months rent.
Explanation of Prorated Rent
If you move in after the first day of the month, your initial rent payment will be applied to the next full months rent. On the First day of the next month, you are only required to pay for the days you occupied the home the month before. This is to get everyone on a first of the month due date. EX: If you move in on 9/20/10, then you are required to pay the first full months rent and the full security deposit which will be applied to 10/1/10-10/31/10 rent. Then on 10/1/10, you pay only for the days you occupied the home in September (9/20-9/30). Valor Homes reserves the right to decline any customer who has attempted to commit fraud with regards to their application and/or paystubs.
Choosing a Home:
On the home page you can search for your dream home. Clicking the search button will display all our homes currently available for rent. To narrow your choices you can enter parameters such as minimum or maximum rent, zip code, city, etc. The list of homes available may be on several pages. As you view the homes, you can click on the "map it" icon to view the location on Google maps. You can also click "More Information" to see additional information about a particular home. Once you have selected a few choices, we suggest you ride by the different selections to determine whether you like the neighborhood, the school system, etc.
Viewing a Home:
When you are ready to view the inside of the home, please call our office at 404-647-9174 Monday-Friday between 8:30 AM and 5 PM. We will then set you up with an appointment with one of our representatives to view the inside of the home. Showings are available Monday - Saturday between 9 AM and 7 PM.
At the time you make make an appointment, we will give you the cell phone number of our representative. You must call our representative within one hour of the appointment to ensure that you will both be there on time. This prevents both parties from making a trip and then having to wait. During the call you can better determine the exact time of the meeting in case one or both parties are running late. Our representatives will not travel to make a showing without a confirming phone call.
Reserving a Home:
It is very important that you are sure about your choice BEFORE you reserve a home. If you reserve a home and then change your mind after 48 hours, we keep $200 of your initial deposit. The $200 we retain is to compensate us for taking the home off the market, updating the website and processing the paperwork and running your screening. If you change your mind before the initial 48 hours but a screening has been completed for you, you will get your money back minus $50 for the screening. In order to reserve a home, you must pay half a month's rent in cash or money order. Payment can be made by giving the funds to a Valor Homes employee or by depositing the funds directly into our bank account. You can call the office to get our bank account information. To hold a property for 2 weeks we require a deposit equal to 1/2 a month's rent (cash or money order). To hold a property for 1 month we require a deposit equal to 1 month's rent (cash or money order). If you change your mind before 2 weeks, we will return the deposit minus $200. If you change your mind after two weeks, we will retain the equivalent of half a months rent. The money we hold back is to cover the costs of taking the home off the the market, updating the website and processing the paperwork plus compensation for time we lost where we could have rented the home to someone else. If you put money down on a property and the property is then reserved for you, a background check is then run. If you lie on your application and state you do not have any recent evictions, yet recent evictions appear on your background check, there is a $50.00 non-refundable fee unless you opt to pay the extra Security Deposits.
Moving Into a Home:
You must show your Drivers Licence to the Valor Homes Agent at the lease signing. You must sign a one year lease. At the lease signing you will do a walk through of the home and list any items that need to be repaired however it will be up to Management to determine which items will be repaired and which ones we will make a note on so you will not be responsible for the damages at move out. We will repair approved items within 30 days, but normally it takes much less time.