Our apartments are rented on a first come, first served basis.
We evaluate every rental application in the following manner:
- Each prospective tenant needs to complete and submit a rental application, pay a *non-refundable $18 screening processing fee per applicant, along with a promise to pay $1,000 holding deposit once your application is approved. (*screening processing fees are not charged for Portland properties).
- We will process your application through our screening process*, which will check your credit report, criminal history, rental background, and verification of proof of income to confirm that you fully meet our criteria. Based on this screening criteria, you will either be approved, conditional with the need of a qualified guarantor or denied for the apartment.
*We are required by Maine law to provide you, the applicant, with a complete copy of the information obtained by the screening process.
- Once we receive all necessary applications along with your holding deposit, we will reserve the apartment for you for a period of 24 hours. During this time, the unit is taken off the market, and no other applicants can apply. We also encourage you to review the lease, along with our policies and procedures, and to ask any questions that arise.
**As soon as you are APPROVED, the $1,000 holding deposit is automatically drafted from the account in which you paid your screening fees from and will be applied towards your Security Deposit.
- If you choose not to rent this apartment within this initial 24-hour period, we will issue you a check refunding your $1,000 holding deposit with 2 business days.
- If you choose not to rent this apartment after the 24-hour period has expired, you will forfeit your holding deposit. If the apartment re-rents and a new tenant begins their lease within 30 days of what would have been your lease start date, we will refund any monies due to you after the prorated rent is deducted.
To qualify for an apartment with Port Property, you must meet the following criteria, or be an applicant from a Project Home approved program:
INCOME: Your verifiable gross monthly income should be at least two and a half times the monthly rent. If you don’t meet our income criteria, you may need to provide a qualified guarantor. Please see below for guarantor criteria.
RENTAL HISTORY: Negative rental history, such as a past eviction, owing a previous landlord money, or being sued by a prior landlord will result in your application being declined.
CREDIT HISTORY/BACKGROUND CHECK: We use a software system that determines a “Risk Score” for each applicant. This “Risk Score” is determined by running a credit and criminal background check on every person over the age of 18 residing in our apartments. If a felony of any kind or a criminal charge/misdemeanor involving dishonesty or violence is found in your background check, or if you are on a sex offender registry, your application will be denied. To obtain a copy of your screening report, please visit RentGrow.com.
Risk Score: Applicants with a “Risk Score” between 501-619, or no credit history, require a guarantor to rent an apartment. We cannot approve an applicant with a Risk Score of 500 or below, with or without a guarantor.
If applicant doesn’t have a Social Security Number:
- Verification of credit score in your country of origin. Please have your bank institute from your country of origin send verification of your credit score directly to Port Property at admin@portproperty.com or fax 207-761-0770. We will determine the strength of your credit score based on your country of origin’s credit range.
- Verification of one of the following:
- Certificate of Eligibility for Exchange Visitor Status DS2019 and Visa and/or Passport – must show work placement and/or offer agreement
- Certificate of Eligibility for Nonimmigrant (Student) I-20 and Visa and/or Passport – must show income for school costs and housing
Security Deposit: Your security deposit amount will be equal to one full month’s rent. The $1,000 Holding Deposit will be applied to your Security Deposit, and you will only need to pay the remaining balance.
Guarantor Requirements: If you do not meet the income, rental or credit history criteria mentioned above, you may still qualify for an apartment by having a third party guarantee your lease. A qualified guarantor must have a social security number, a “Risk Score” of 680 or above and verifiable income of at least four times the monthly rent. Guarantors will fill out an application and submit a *non-refundable $18 screening processing fee. (*fees are not charged for Portland properties).
Move in Costs: We require first month’s rent, a security deposit equal to one month’s rent, a $100 Lock & Key Fee, and any other recurring monthly fees to be paid before moving in. Proof of renter’s insurance with minimum liability coverage of $300,000 is also a requirement, or you will be automatically enrolled into our master policy for liability coverage for $20/month.
Pet Policy: We permit up to two pets in an apartment when the renter qualifies and agrees to the terms of our pet addendum. There is a one-time nonrefundable Pet Owner fee of $250 per pet. The monthly pet fee is $75 per pet. Dogs may need to be met and approved (by our staff) prior to accepting an application/holding deposit. Please read the full Pet Policy to obtain more information.
We are an equal opportunity housing provider and fully comply with the Federal Fair Housing Act.
