Thank you for considering a property from Professional Asset Management & Sales. We look forward to having you as a resident! We’ve listed some important information below to help get you into your new home quickly and smoothly.
Professional Asset Management & Sales
2201 N. Collins Road, Suite 240
Arlington, TX 76011
(682) 558-5900 Office
(682) 558-5801 Fax
Monday – Friday
9:00am to 5:00pm
QUALIFYING CRITERIA FOR TENANTS
Below, we’ve provided the criteria we use to qualify you for our properties. If after reading the criteria, you feel you may have difficulty getting approved, please discuss the issue with your leasing agent before proceeding or call us with any questions.
Our company represents individual investors. The owner of the property that you have chosen will make the final decision on your application. Professional Asset Management has the right to deny any application if the criteria below are not met.
Our basic qualifying criteria are as follows:
- We ask that all applicants have income that equals at least 3 times the monthly rent (gross income). This can include Social Security income, child support, disability, etc.
- We conduct a credit and criminal background check. Any criminal conviction appearing on an applicant’s background screening will be reviewed on a case-by-case basis.
- We verify the last two places of residence to ensure that you provided sufficient notice before leaving. We also verify that you took proper care of your account.
- We verify both current and previous employment to check employment dates and income.
- We cannot accept the following pets on any of our properties: Akita, Chow, Doberman, Pit Bull (or Pit Bull derivatives), Presa Canario, Rottweiler, Staffordshire Bull Terrier, Wolf Hybrid, exotic pets or animals. We require photos of pets and current vaccine records for all animals living with you.
- Smoking is not permitted inside any rental unit.
Falsification of any information on your application is grounds for immediate denial and/or immediate eviction.
CHECKLIST: Listed below is everything you need to submit an application. If you have any questions or concerns, please call to speak with a representative..
- Residential Lease Application – EVERY person over the age of 18 who will be occupying the property must complete a lease application. No exceptions.
- Application fee –Application fees are due when submitting an application on line. You will be prompted to make the payment on line once the application is completed. If an application is dropped off at the office a Cashier’s check or money order only will be accepted. Please make payable to Professional Asset Management. Application fees are $55 per individual.
- $100.00 hold –Once an account is set you may pay the Hold Fee on line as well or drop off a Cashier’s check or money order only. Please make this payable to Professional Asset Management. The hold fee must be paid in a SEPARATE cashier’s check or money order. Please do not combine the application and hold fee payments.
- Employment history: Two recent pay stubs, or a letter from your employer on company letterhead stating that you work for the company, the length of time on the job, the amount you are paid, and a contact name and number to verify the information. If we cannot verify employment, your application will not be processed. If you are using child support, retirement, or Social Security benefits as qualifying income we require a copy of the payment letter from the agency or bank statements proving receipt of the income.
- Identification: Copies of a valid state or government ID (driver’s license).
- Application delivery: If you apply on line it will come to the office immediately and you will receive the next action letter from us. You can scan and email all documents or you may drop the application off directly at the office. Our office business hours are Monday through Friday 9:00 AM to 5:00 PM.
Please check the above list carefully. If we are missing any of these items, your application will not be processed. The property will remain on the market until all items are submitted to our office, and can be leased to anyone who s
~~CASH OR PERSONAL CHECKS WILL NOT BE ACCEPTED~~
We make every effort to process your application as quickly as possible. However, we have 7 days to process your application. We will notify you within those 7 days if you have been approved. If you withdraw your application at any point during this process, all application fees will be non refundable.
Once you have been approved, you must sign your lease and pay the remainder of your security deposit within 48 hours. If you do not sign the lease and pay the remainder of the security deposit within the 48 hours, you forfeit your $100.00 hold and your application fee.
~~Keys will not be issued unless all funds have been collected and the lease has been signed~~
After application approval, we will prepare your lease agreement and contact you to set up the Lease Signing appointments. Regardless of your desired move-in date, your fully executed lease agreement and certified funds for the security deposit MUST be turned in to the office within four (4) days. The balance of your move-in costs (i.e., rent, pet deposit, etc.) can be paid with certified funds on the day you move into the property. At this time, you will also receive keys along with a Residential Lease Inventory and Condition Form (click to print form). This form must be filled out and returned to the office no later than 5 days after you move into the home. The form is a way for you to note things in the property that you don’t want to be responsible for when you move out.
— Renters insurance is required prior to move in.
— Utility account numbers need to be provided to the leasing agent prior to move in.
PLEASE NOTE: Once an application has been approved and there is an agreed upon move-in date, that move-in date cannot be changed to a later date.
To facilitate your transition to one of our properties, please use the information below:
SECURITY DEPOSIT—To reiterate, your full security deposit (along with your signed lease) is due four (4) days after you have been approved for one of our properties.
PRORATED RENT—If your move-in date is after the 1st of the month, your rent will be prorated. If you move-in up to five (5) days before the end of the month, you are required to pay the prorated amount for the current month AND the first full month’s rent for the following month.
Rent payments are due no later than the 1st of each month, regardless of the day you move into your property. Rent must be in our office by the end of business on the 3rd of the month in order to avoid late charges. The late fee is equal to 10% of your total rent, and $10.00 a day thereafter. Any rental payments received after the 3rd of the month MUST be in the form of a certified check or money order ONLY, and must include all late fees.
When completing your rent check, money order, or cashiers check, please indicate your property address in the memo section to ensure proper credit. Make all funds payable to Professional Asset Management and mail or drop off your rent payments to the following address:
Professional Asset Management & Sales
2201 N. Collins Road, Suite 240
Arlington, TX 76011
For your convenience, we have two (2) secured drop boxes. One is located inside the building, outside of our suite and the other drop box is outside on the east side of the building with our name on it. These boxes serve as a convenient way to drop off your rent checks after hours and are picked up daily.
Returned Check Policy: Any returned checks incur a $50 penalty charged to the lessee. If checks are returned, you are not permitted to pay with a personal check any longer. Only certified funds (money order or cashiers check) will be accepted as payment.
MAINTENANCE REQUESTS: Non-Emergency Maintenance Requests are taken during our business hours listed above, by calling the office at (682) 558-5900. All Non-Emergency Maintenance Requests are to be reported during regular office hours and are responded to promptly within 24 hours of
Maintenance requests can also be processed ONLINE under the 24/7 Resources section at the top of the page or by logging into your account. Such work orders will be received and processed by our maintenance team in the order they are received.
Residents are responsible for activating accounts for ALL utilities. If you fail to set up such accounts, you risk having your utilities shut off. Please let the utility companies know to start charging you from the day you agree to move in by providing them with your property address and your move-in date. You must provide our office with confirmation that you have set up your utilities prior to obtaining keys.
Renters insurance covers your personal property in the case of fire, theft, vandalism, smoke, flooding and other incidents. Our residents are solely responsible for insuring their own personal property that is located or stored in the leased property. Any loss from various hazards, incidents and casualties are the sole responsibility of the tenant and not the owner or management company. The cost of renters insurance can range from around $135 to $350 per year, depending on your desired coverage. You can purchase renter’s insurance from most insurance agencies. Please note that we require our tenants to obtain renters insurance.