-------------Recap-------------
At Catalyst Property Management, we aim to make your rental experience straightforward and transparent. Below is a summary of key requirements for leasing one of our homes:
Application Fee: $45 per adult (non-refundable)
Who Must Apply: All applicants 18 years or older
Credit Score: 600 or higher is preferred, but lower scores are considered
Income Requirement: Combined gross monthly income must be at least 2.5 times the rent
Documentation Needed: Recent pay stubs, W-2s, offer letters, or proof of self-employment
Guarantors: Accepted if income or credit does not meet requirements (must earn 3.5 times the rent)
Pets: Allowed only in designated pet-friendly homes with owner approval and applicable fees
Security Deposit: Equal to one month’s rent; $100 of this is a non-refundable administrative fee
Background Check: Includes credit, criminal history, and rental history
Renters Insurance: Required, or enroll in our $11/month Accidental Damage Waiver
Occupancy Limits: Two persons per bedroom, plus one additional occupant per home
Please refer to the full details below, or contact our leasing team with any questions before applying.
-------------How to Apply-------------
Please Read the “Qualifying” Section Before Applying
All rental applications must be completed online. To begin, click the “Rentals” tab at the top of our website, choose the property you’re interested in, and click the blue “Apply” button.
Each applicant must provide a unique email address, as documents will be signed electronically. If you're adding a co-applicant or guarantor, the system will prompt you with specific instructions. If you change your mind about which property to rent after applying, your application can be transferred to another available property upon request.
Application Processing
Once your application is submitted, we will begin processing it. You’ll receive a Credit Card Authorization Form to pay the $45 application fee (required for each applicant 18 or older), and a Consent for Release of Information Form that allows us to contact your current landlord. Both forms should be signed and returned via email to [email protected].
We strongly recommend viewing the property in person before submitting your application and paying fees. If you decide to move in without seeing the unit, a double deposit may be required. Please note that application fees are non-refundable, even if you’re unsatisfied with the unit after inspection.
Required Documentation
In addition to your application, you must email a copy of your valid ID and proof of income to [email protected]. Your application must also include three years of residential history and information about your current monthly income. To qualify, your gross monthly income must be at least 2.5 times the rent amount.
Verification Process
We will verify both your income and rental history. Your current or previous landlord will be contacted directly, so please ensure that you provide accurate and direct phone numbers and email addresses. This helps speed up the process. Additional documentation may be requested as outlined in the Qualifying section.
If you haven’t rented in the past five years or rented from a direct family member, we may waive the rental history verification.
Group Applications
Applications for two or more people will not be processed until all group members have applied. Every applicant — whether resident or guarantor — must apply using their legal name as it appears on their ID. Be sure to review the parking and pet policies, as they may vary between properties. No more than 1 guarantor shall be permitted on a lease agreement, unless otherwise agreed upon in writing by the landlord. 2 may be accepted for leases with more than 3 applicants.
Timeline & Holding a Property
Our review process usually takes up to four (4) business days, though it may be quicker if all required documents are submitted promptly. Applications are processed strictly on a first-come, first-served basis. Once approved, we can hold a property for up to two weeks with a paid security deposit.
Equal Housing Opportunity
Catalyst Property Management complies with all Fair Housing laws and Equal Opportunity Housing standards.
-------------FAQ/Qualification Criteria------------
Welcome to Catalyst Property Management!
Before applying to lease one of our homes, please take a moment to review the following!
All applicants 18 or older must submit a separate application. These criteria are our current standards, and while they reflect our usual practices, they do not guarantee that all current residents meet these requirements. All applicants 18 years or older must apply and pay the non-refundable application fee of $45 if first in line.
What are the Occupancy Standards?
We follow a guideline of 2 persons per bedroom plus one for each home, for example:
- 1 Bedrooms: 3 people
- 2 Bedrooms: 5 people
- 3 Bedrooms: 7 people
What is the policy for Credit, Debt & Bankruptcy?
We conduct a thorough review of your credit, rental, and criminal history. A credit report is completed for all adult applicants, and we also check Landlord/Tenant court records and perform a criminal background check. We assess creditworthiness by considering FICO scores, household income, and monthly debt together; while we look for a credit score of 600 or higher, a low credit score alone is not a disqualifier. For outstanding debt to prior landlords, you must provide proof of payment or evidence that the debt is not yours within 48 hours, or your application may be declined. Any debt related to utilities or payday loans exceeding $500 in the past seven years will result in an automatic decline, while smaller debts must be settled within 48 hours after a conditional approval. Chapter 13 bankruptcies will result in automatic denial, but discharged bankruptcies may still allow you to qualify.
How much is my Security Deposit?
A partially refundable security deposit is required before move-in. The amount of the deposit will be the same as the monthly rent, $100 of it being applied as an administrative fee. This deposit cannot be used toward your first month’s rent or applied to rent at any point during your lease. After you move out, the deposit will be returned, minus any charges for property damage, cleaning, or outstanding balances. This payment must be made using certified funds (money order or cashier’s check).
Are Pets Allowed in Rentals with Catalyst Property Management?
Pets are only allowed in homes that indicate “Pets Accepted” (restrictions may apply). If pets are allowed, they must be approved by the property owner, and additional requirements, such as a pet deposit and monthly pet rent. Proof of vaccination and licensure may be required. Each pet must be listed on the application and receive their own approval.
Will I need a guarantor to qualify for a rental?
In cases where applicants don’t meet the financial or credit requirements, we accept guarantors. The guarantor must meet the same criteria as the applicant, except for a gross monthly income of at least 3.5 times the rent. Guarantors must also complete an application and pay the application fee. No more than 1 guarantor shall be permitted on a lease agreement, unless otherwise agreed upon in writing by the landlord. 2 may be accepted for leases with more than 3 applicants.
Do I need Renter's Insurance?
We require that tenants either obtain renters' insurance or enroll in our Accidental Damage Waiver Plan for an additional $11/month. The plan will protect you from paying for the cost to repair accidental damage done to the property, but it is very different from renters' insurance, as this plan does not protect your personal belongings in the event of a fire, natural disaster, etc. More details on the coverage included in the plan can be found at this link: https://www.rentersassurancecompany.com/terms-and-conditions/.
Again, you have the option to obtain renters' insurance if the program doesn't sound like something you'd be interested in. Each tenant must be named on the policy. Make sure to have your insurance provider list Catalyst Property Management as an "Additional Insured" and ROAMA (Rental Owners and Managers Assurance) listed as an "Additional Interest" on your policy if you decide to go that route.
How Much Income Do I Need to Qualify for a Rental?
To qualify financially, your combined gross household income must be at least 2.5 times the monthly rent. Acceptable income documentation includes two consecutive pay stubs from the past two months, W2 forms, along with a year-to-date pay stub, or offer letters with verification of prior employment. For those who are self-employed, we require the most recent tax return and six months of bank statements. Additionally, we will consider other income sources such as government benefits, child support, and savings, but these will require supporting documentation. Non-taxed income will be grossed up by 25%.
Will Catalyst run a Criminal Background Check?
All adult applicants and occupants will undergo a criminal background check, which will include an evaluation of any felony offenses. Crimes against persons or property, theft, prostitution, weapons offenses, and cruelty to animals within the last seven years may result in a denial. Sex-related and terrorism-related offenses will result in an automatic denial regardless of when they occurred.
What is a Rental History Verification?
At least one rental history verification is required, and we will contact previous landlords to verify your payment history. If your previous landlords were direct relatives or if you have not rented in the last 5 years, we may be able to bypass the rental verification. Negative rental history, such as unpaid rent, NSF checks, lease violations, or multiple late payments, may lead to a decline.
What if I have an In-Home Care Business?
For those operating a licensed in-home care business, you may qualify to lease a property if you meet specific requirements, including valid licensing, paid by the state or county, and residency in the home.
Falsification of an Application
Falsifying information on your application will result in an automatic denial, and you will forfeit any paid deposits and fees. Once an application is denied, it will become inactive for 45 days. If approved, the approval is valid for 45 days, after which new documentation will be required. Even though your application is valid for 45 days, the property you are applying for may not be available that long.