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. Just 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 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. Credit

Minimum score 600 (see details below).

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. 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.

Exceptions to this requirement 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.

 

2. Income

Income must be 3 times amount of rent (see details below).

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. We will allow co-signers for a lack in income.

 

3. Good rental history or home ownership

  • We require 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.
  • We will not accept an applicant with any damage to property charges within the last 7 years. If there are charges from 7+ years ago, the applicant must have excellent rental history for the last 7 years.
  • 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.

 

4. Criminal Background Check

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

 

 

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.

 

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.