|Rental Application Procedure
The Rental Application procedure is done in multiple steps. It is a detailed process because Parasol Properties, LLC places
a great deal of effort and expense into each of its homes to make them special and maximize its Residents' comfort and
enjoyment. Consequently, Parasol Properties, LLC is very selective in choosing the Residents that move into these homes.
Our Residents enjoy homes that we feel stand out above most others in the rental market. Many of our homes are upgraded
with features normally found in high-end homes. And, we are committed to providing our Residents with excellent service.
Here is a summary of the Rental Application procedure:
1. Generally, a prospective Resident will call us or e-mail us to let us know that they are interested in a particular home or
homes. We will first obtain some initial screening information from the prospective Resident at the time of that initial contact.
We can then arrange a private tour of the home(s) of interest for the person if they meet the initial screening criteria.
2. The prospective Resident can decide if they would like to obtain a Rental Application at the time of their private
showing. A Rental Application will be given to them at that time. There is a nonrefundable fee of $25 that is paid then the
Rental Application is given to the person. We do not profit from this $25 fee since it covers the charge we must pay to another
company to do the initial background check. This portion of the background check includes a credit check, criminal and sex
offender background check, check of prior evictions, confirmation of identification, determination of income to rent ratio, and
listing of prior residences. The initial background check usually takes about 1 hour to complete. If the initial background
check is unsatisfactory, then the evaluation process is terminated at this stage.
3. If the initial background check is satisfactory, then our staff will then check various references listed by the prospective
Resident on their Rental Application. This process may be accomplished within one day or may sometimes take several
days depending upon how quickly the references respond to us.
4. The information we obtain is analyzed on a form with different pieces of information assigned various numbers of
points. The points are then added up to give a total. Prospective Residents are considered eligible to rent one of our homes if
their total points exceeds a certain number and they are considered ineligible if their points fall below a certain minimum
number. If the total points falls within a specific marginal area, then the person may be considered a conditional applicant
which means that they could still potentially be eligible to rent a home from us if they pay an additional amount of security
deposit, or if they obtain a cosigner for the Rental Agreement, or both.
5. The prospective Resident will be notified if their application has been accepted. The prospective Resident must decide
at the time of this notification whether or not they wish to proceed with renting one of our homes. Two things will be required
of the approved prospective Resident if they decide to proceed with renting one of our homes.
a. The prospective Resident is required to sign and return to us within 24 hours an Intent To Move-In Form listing the
agreed upon move-in date.
b. The prospective Resident is required to pay us a Rental Commitment Deposit within 24 hours. The Rental
Commitment Deposit equals the first month's rent when the rent is less than $1000 per month. For example, the Rental
Commitment Deposit is $900 if the monthly rent is $900. The Rental Commitment Deposit is $1000 for homes where the
rent is $1000 or month. For example, the Rental Commitment Deposit is $1000 when the rent is $1200 per month. Rental
Commitment Deposit is due and payable by cash, cashier's check, or money order. We will continue to advertise and show
the home and potentially rent the home to another prospective Resident if we do not receive the Rental Commitment Deposit.
Receipt of the Rental Commitment Deposit within 24 hours of approval notification holds the home for that prospective
Resident until the agreed upon move-in date.
6. The Rental Commitment Deposit is nonrefundable if the prospective Resident fails to move-in on the agreed upon
move-in date regardless of the reason. The reason for this policy is that we have had numerous prospective Residents make
verbal commitments to move-in on a certain date and later decide not to move-in.
7. There is no additional pet deposit for Residents that have pets. However, there is additional monthly rent of $25 for 1-2
pets, $30 for 3 pets, and $35 for 4 pets.
8. All Residents 18 years old and older will review and sign the Rental Agreement prior to move-in.
9. Payment of the first month’s rent is payable by cash, cashier’s check, or money order at the time of signing of the
Rental Agreement prior to move-in. If the initial period of tenancy prior to the due date of the 2nd month’s rent is less than one
month, then any excess payment will be deducted from the 2nd month’s rent payment.
10. A security deposit is required at the time of move-in. The previously paid Rental Commitment Deposit is applied to
this security deposit. The security deposit generally equals the first month's rent when the rent is less than $1000 per month.
For example, the security deposit is $900 if the monthly rent is $900. The security deposit is $1000 for homes where the rent
is $1000 or month. For example, the security deposit is $1000 when the rent is $1200 per month. The security deposit may
be higher than this standard amount if the prospective Resident’s application was considered conditionally acceptable as
defined in number 4 above. In these cases, the amount of required security deposit that exceeds the Rental Commitment
Deposit must be paid by cash, cashier’s check, or money order at the time of signing of the Rental Agreement. For example,
a conditionally acceptable prospective Resident may be required to pay $2000 security deposit. They would have to pay
$1000 security deposit at the time of signing the Rental Agreement if they had previously paid $1000 Rental Commitment
Deposit since the Rental Commitment Deposit ($1000) would be applied to the overall $2000 security deposit.
11. The security deposit is 100% refundable after move-out when a resident rents for 12 months or more. The security
deposit is 50% refundable after move-out when the resident rents for 6 months or more. The security deposit is not
refundable when the Resident moves after renting for less than 6 months. The cost of repairs of any damage and expenses
associated with failure to pay rent, eviction, and recovery of monies owed is deducted from the deposit. And, the Resident is
responsible for paying for the cost of any of these expenses that exceeds the amount of deposit.
12. The Rental Application process is done objectively and everyone is evaluated in the same manner in order to avoid
any favoritism or discrimination. It is our policy to rent our homes to persons without regard to a Resident's race, ethnic
background, sex, age, religion, marital or family status, physical disability, or sexual orientation. Parasol Properties, LLC is
committed to provide equal opportunity in housing.
If you have any questions or complaints regarding our rental policy, please call Parasol Properties, LLC at 870-762-0319