Rental Application
Filling out a rental application online is easy! The criteria for applying are listed below. Please review our requirements before submitting an application. Any adult 18+ planning to reside must fill out an application separately. All adults and any necessary cosigners must apply before an application is considered complete. Please keep in mind that if you apply without completing a showing, we cannot hold the unit until after you see it. Prospective tenants and cosigners can just click on this link to be directed to our online rental application page. If you need further assistance with online application fee payment, please call or text us at: (608) 729-8756 or use our Online Contact Form to send us email.
Application Requirements
The application fee is $25 per adult. This goes towards the deposit if a lease is signed and is otherwise non-refundable. You will be prompted to pay the application fee online after filling out the application. This can be done electronically or by check/money order mailed to 122 E. Olin Ave. Suite 255 Office A, Madison, WI 53713. No cash.
Cosigners:
If the applicant does not meet one of the following requirements, they must obtain a cosigner. Cosigners will need to fill out an application as well and pay the $25 application fee. If there are areas that are non-applicable (homeowners, for example), fill in the information as well as possible. Keep in mind, we will only be looking at the cosigner’s credit score and income. Cosigner requirements include a credit score of 675+ and an income that is at least 4 times the applicant’s portion of the rent. A cosigner will be on the lease and will be responsible for all unpaid rent and damages, just like the tenant.
Important:
Property owner’s individual policies may differ from Dobson Property Management company policies. In the event of any discrepancies, the owner policy will default over the company policy (listed below). If there are questions, concerns, or any confusion regarding the application requirements, please call or text us at: (608) 729-8756.
Dobson Property Management is first come, first serve when it comes to applications. Whichever applicant or group of applicants submits complete applications first, including cosigners if necessary, will be considered first in line for processing. A complete application means no missing fields and no fields that do not meet the requirements. If a field does not meet the requirement, you must obtain a cosigner and the application is considered incomplete until you do. This also includes application fees. An application is not complete until all application fees have been paid.
1. Credit
Minimum score 625
We will run a full credit check. We require a credit score of 625 or higher with no bankruptcies in the last 4 years. If your credit is below 625, you will likely need a cosigner.
There are exceptions to this requirement. For example, if your credit is low due to lines of credit recently opened but you’re current on all payments, we will take that into consideration as long as you meet or exceed the other requirements. Having no credit isn’t necessarily a bad thing as long as there are no negative lines of credit, small claims, collections, or unpaid bills.
2. Income
Income must be three times amount of rent
Applicants must demonstrate an ability to pay the monthly rent which is why we require an income of 3 times the amount of rent in order to be considered. Sources of income can be in the form of employment, alimony, SSI, UI, child support, Section 8, etc. If more than one applicant, we look for a combined total between all applicants. If an applicant does not demonstrate the ability to pay the monthly rent, a cosigner may be required to guarantee the financial obligation of the lease.
3. Good Rental History or Home Ownership
We require at least one year of good housing history including rental history or home ownership. Grounds for immediate denial include: eviction process within the last five years, money owed to current or previous landlord(s), disturbances, pest infestations, pattern of late payments, damage to the property, unauthorized pets, poor house keeping, etc. Housing history does not include time living in dorms or with parents/relatives.
We will not accept an applicant with any damage to property charges within the last 10 years. If there are charges from 10+ years ago, the applicant must have excellent rental history since last charge.
If there was an eviction process from 5+ years ago, applicant must be able to provide the contact information to prove excellent rental history over the last five years including no gaps in rental history. Any applicant with the inability to show good rental history each year after an eviction will be denied.
Applicants with less than one year of rental history will be asked to acquire a cosigner.
4. Criminal Background Check
Grounds for immediate denial include: convictions involving drug dealing, violent crimes, or property related crimes within the last 10 years from release date or any felonies within the last 15 years from release date. Convictions of sex-related crimes are grounds for immediate denial – no time limit.
All information on the application must be accurate and complete. False information is grounds for immediate denial.
If you are approved, the lease must be signed within 48 hours. Failure to have a signed lease within 48 hours forfeits the application fee.
