RENTAL REQUIREMENTS


QUALIFICATIONS:

- Good Credit Score
- Tenants must have a combined annual income of 40 to 45 times the monthly rent
- If the tenant does not meet the income requirement, guarantors must have a combined income of 80 to 85 times the monthly rent

REQUIRED DOCUMENTS:

- Copy of Photo ID
- Letter of Employment (stating position, salary and length of employment)
- 2 Most Recent Pay Stubs
- 2 Most Recent Bank Statements (US checking)
- 2 Most Recent Tax Returns (first two pages)

*If self-employed, you will need to provide a CPA Letter stating job, income, length of position, and projected annual income

LEASE SIGNING:

Once approved, you will be required to sign the lease and provide bank certified checks for first month's rent, security deposit and the broker's commission which varies depending on the building.

BROKERAGE FEES:

-    ½ month’s rent for a rental term between 1 and 6 months

-    One (1) month’s rent for a rental term more than 6 months

-    15% of the total annual rent in the event that Compass cooperates with a third-party agent (co-broker, or “exclusive listing agent”) where the commission will be split between Compass and co-broker

- “No Fee” for a rental when the landlord or management company is paying the brokerage commission (aka “OP”)