Applications / Forms

 

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. Click on this link to be directed to our online rental application page. If you need further assistance with online rent payment, please feel free to call or text DPM at (608) 217-1547 or use our Online Contact Form to send us an email.

 

Application Requirements

There is a $50 application fee. This goes towards your deposit if a lease is signed and is otherwise non-refundable. .  You will be prompted to pay the application fee online after filling out your application. This can be done electronically or by check/money order mailed to 131 W. Wilson St. #503 Madison, WI 53703. No cash.

 

1. Good rental history or home ownership.

Good rental history means one year or more of renting and being on a lease without any of the following: Eviction within the last 5 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. These are all grounds for rejection. Friends and relatives do not count as a rental reference. If you don’t have a year of rental history or home ownership, you will need a co-signer. The co-signer can be anyone with a credit score of 650+ and an income that is at least 4 times the rent. Why 4 times the rent? Because we need them to be able to pay your rent if you can’t.  A co-signer is on the hook for all unpaid rent and damages, just like you are.

 

2. Income

We require an income of 3 times the amount of rent in order to be considered. This can be in the form of employment, alimony, SSI, child support, or any combination thereof. If more than one applicant, we look for a combined total between all applicants.

 

3. Credit

We will run a full credit check. We require a credit score of 600 or higher with no bankruptcies in the last 4 years. If your credit is below 600, you will most likely need a co-signer (requirements listed in #1). Exceptions would be excellent rental history over many years or if your credit score is low due only to not having lines of credit open for very long (less than 6 months) but you’re current on payments. Too much debt relative to income also hurts the credit check.  No credit isn’t really a negative or a positive.

Tip – Some people think they have no credit because they don’t have debt. This is incorrect.  Just because you don’t have debt doesn’t mean you can’t have bad credit. If you have small claims against you for unpaid bills, this will negatively affect your credit check. If you truly don’t have credit and you have no small claims, this will not negatively affect your application. We then rely fully on rental history, criminal check, and income.

 

4. Criminal Background Check

No convictions involving drug dealing, violent crimes, or property related crimes within the last 7 years from release date.

 

All information on the application must be accurate. False information is grounds for denial.

If you are approved, we need a signed lease within 7 days. Failure to have a signed lease within 7 days forfeits the application fee.