Rental Requirements
ICON Real Estate Group, LLC Application Policies and Rental Qualifications
Please read this page carefully before completing the application.
Be certain to email all required documents to info@theiconrealestategroup.com immediately after applying online to expedite your application.
Thank you for applying with ICON Real Estate Group, LLC for your housing needs. In order to best serve you, we feel it is imperative that you are made aware of, and fully understand our application policies and procedures. ICON follows all federal, state and local laws regarding the application process. Each application is screened without regard to race, color, religion, handicap, sex, familial status or national origin of the applicant. The staff at ICON Real Estate Group, LLC, is trained and educated on the latest local, state and federal statutes pertaining to rental regulations.
Required Documents to be emailed AFTER you complete the online application:
- Copy of a Valid Government issued ID
- Pet photo (if applicable)
The Application Process
The application screening is handled via 3rd party and processing will normally be completed within 24 to 48 hours; however, it can take longer if a complication arises such as difficulties contacting your past landlords or other references.
All occupants age 18 and older are required to complete an application even if their income/credit is not being used to determine eligibility. For minor children we only require names and dates of birth.
A $60.00 non-refundable application fee is required, per adult applicant and is paid online via credit/debit card.
All information you provide on the application must be complete, accurate and truthful. Misrepresentation or providing false information will be grounds for denial of your application.
Applications are processed in the order received and will not be reviewed in this office until all required documents have been received.
Additional applications will continue to be accepted until the approved applicant has signed the lease and paid the security deposit
As a representative of the property owner, we must act in their best interests and will choose the best application if more than one has applied.
A copy of applicant’s driver’s license or other federal issued ID is required and will become part of the completed application
Communication between Management and Resident is perhaps one of the most important parts of tenancy, therefore residents of all our properties are required to maintain a working telephone, an active email account & internet access throughout the term of their Agreement
All information on application is subject to verification. Must have acceptable or explainable credit.
Applications will be denied if falsified
Once approved, each applicant must sign the lease and be fully responsible for the lease, rent or any fees due
If application is denied, at ICON's discretion, an approved Co-Signer may substitute their application, sign the lease and accept full financial responsibility along with the applicant. A Co-Signer must live with-in the state in which the applicant has applied
Guideline requirements may be waived at the discretion of ICON Real Estate Group, if applicant pre-pays rent for the full term of the lease
ICON Real Estate Group bases its decision to accept an applicant on credit, previous landlord information, employment, and income and criminal record combined. For example, if you have excellent credit but you receive a negative reference from a previous landlord, we will look at the other items such as employment and criminal record to assist us in making a decision.
Income
Applicants must have a verifiable combined gross income of at least two (2) times the monthly rent. Co-signers must show verifiable income of at least five (5) times the monthly rent. We will contact your employer to confirm your length of employment, your job position/title, and the income amount you report on your application. Some employers will only verify employment details after payment of a fee and with your written authorization, so you may provide pay stubs that cover a period for the prior 60 days.
If this is a new job, you may provide an offer letter on company letterhead.
If an applicant is self employed, then proof of income can be shown by providing one or more of the following:
- Copies of bank statements for the previous 2 months.
- Copies of 1099 forms from contract labor performed.
- A signed copy of the most recent year's federal income tax return.
If you have income from another source or you are just “independently wealthy” send it to us in a written verifiable format. Some common “other income” sources are:
- Social Security benefits
- Retirement or pension benefits
- Disability payments
- Trust funds
- Substantial savings / money market accounts
- Alimony or child support
- Structured settlement payments
If income requirements can’t be met, then a qualified cosigner may be used to offset any income deficiency. Cosigner qualifications can be found below.
Cosigners
If your application requires a co-signer this person is going to provide strength in an area where your application has weakness. For instance:
- No verifiable income for full-time students
- Unsatisfactory credit rating
- Unverifiable rental history
- Unsatisfactory income requirements
The Co-Signer/Guarantor must pass the same application and screening process, pay appropriate application fee, meet all the same requirements as the applicant, have a strong credit rating and verifiable income of at least 5 times the rent. A co-signer will be signing the lease agreement along with you and they will become legally responsible for the rent along with you. No more than one co-signer per applicant will be considered. All co-signers must be a resident of the State of Georgia.
Rental History
Up to 24 months of residency history will be reviewed and must exhibit no derogatory references. Application may be denied for evictions, damages beyond normal wear and tear, illegal activity on premises, refusal to re-rent by previous landlord or a balance still owed to previous landlord and any utility companies.
Previous 2 years rental history or residency must be positive and verifiable. If you have rented during that period, then we must get a satisfactory or better landlord recommendation. We will ask about any late payments, bad checks, complaints against you, and the condition of the property when you left.
“Satisfactory” means that you gave proper notice when you left, you left owing no balance, and you had no dispossessory/evictions filed during your tenancy.
If the applicant has just sold their home or still owns a home, or if you owned a home and are now renting, your payment history should be reflected on your credit report and that will be verified. If the home was owner financed or not reported on your credit report then provide details that will allow us to verify your payment history.
Relatives are not acceptable as rental references.
Less than 2 years rental history may require additional security deposit or co-signer.
Evictions
Any eviction filing within the prior three (3) years will be grounds for denial of your application. Evictions resulting from a foreclosure of a home you owned or rented are not counted.
Criminal Background
A criminal record verification is made on all persons over the age of 18 who will occupy the property. Current or pending felony indictments will be grounds for denial.
Criminal History
Application will not be approved if applicant has the following convictions on their criminal record:
- First or Second Degree Murder
- First Through Third Degree Assault
- Kidnapping
- First Through Fourth Degree Criminal Sexual Conduct
- Arson
- Harassment and Stalking
- An Attempt to Commit one of the above crimes
- A conviction in another jurisdiction that would be a violation of the above crimes
Application will not be approved for 10 years after the completion of their sentence, if applicant has the following convictions on their record:
- Third Degree Murder
- Second Degree Manslaughter
- Criminal Vehicular Homicide or Injury
- Simple or Aggravated Robbery
- Any Felony Drug or Narcotics Convictions
- False Imprisonment
- Carrying a weapon without a permit or any other weapons charge
- Felony Theft
- Felony Forgery
- Felony Burglary
- Terrorist Threats
- Felony Controlled Substance
- An Attempt to commit one of the above crimes
- A Conviction in another jurisdiction that would be a violation of the above crime
Application will not be approved for 5 years after the completion of their sentence, if applicant has the following convictions on their record:
- Non-Felony Violation of Harassment and/or Stalking
- Fourth Degree Assault
- Any Misdemeanor Drug or Narcotics Conviction
- An Attempt to commit one of the above crimes
- A Conviction in another jurisdiction that would be a violation of the above crimes
Credit History
Your past payment history, debt to income ratio, rent to income ratio, and credit score from your credit report will be used in making a rental decision. We look for things like judgments & collections (especially from previous landlords), unpaid utility bills and generally how you have paid your bills in the past. Poor credit will not generally disqualify you from renting, but a higher security deposit, and/or co-signer may be required as well as an increased contingent approval fee depending on the overall application evaluation.
Bankruptcy
Any current or open bankruptcy filing will be grounds for denial of application. Three (3) years must have elapsed from the discharge or dismissal date of any prior bankruptcy filing.
Security Deposit
The security deposit amount varies from property to property and must be paid in advance and must be paid by certified funds (money order, cashier’s check, or certified check). Required security deposits are based on overall results of your application information. Standard security deposits are typically equal to one full month’s rent. Some applications can be approved with higher deposit amounts. The reality is this; we’re about to hand over the keys to someone's home that is worth a lot of money so we need to feel confident about your ability to pay rent each month and if your credit history and overall application doesn’t show something consistent with that then paying extra money to prove you have the ability to pay rent every month is the only way you’re going to be able to rent from us.
Property Reservation / Holding a Property
If you are approved and need some time before taking possession, properties can be held up to 14 days with a signed Holding Fee Agreement (HFA). Simply pay an amount equal to the first month’s rent and sign the HFA. When it comes time to move in you will sign your lease, pay the balance of any funds owed and the hold money you paid will be applied to the first month’s rent. If you fail to execute a lease or pay the balance of funds owed you will forfeit your hold on the property and any option fee paid.
Administration/Contingent Approval Fee
All leases have a $200 administration fee due at lease signing. All leases have a $200 tenant leasing fee due before move in. Depending on credit an additional contingent approval fee may be due. It has been shown through both statistical and historical analysis that an applicant's overall credit rating directly affects the risk and likelihood of default, damages and unpaid rent for the landlord. Applicants with a lower overall credit rating pose a significantly higher risk and liability. In an effort to mitigate that risk and allow applicants with a less than perfect credit rating to still gain approval for their chosen property we have implemented a scoring model that allows applicants to pay a fee to offset the increased risk and exposure the landlord faces in approving them with a lower than normal credit rating.
| Average Credit Score | Contingent Approval Fee |
|---|---|
| 650 - 850 | $0 |
| 620 - 649 | $200 |
| 600 - 619 | $300 |
| 550 - 599 | $450 |
| 500 - 549 | $550 |
| 300 - 499 | ** contact agent |
** For multiple applicants the scores are averaged. For example: Tom and Suzy apply for a property and Tom has a credit rating score of 665. Suzy has a score of 580. 665 + 580 = 1245. 1245 / 2 applicants = 622.5 average score. We always round up to the next whole number, so the score is 623. Looking at the table above Tom and Suzy would pay $200 as their Contingent Approval fee.
Applicants with no credit score showing will be assigned a score of 500 for the purposes of determining the contingent approval fee. All scores are based on Equifax’s FACTA BEACON FICO scoring model.
Multiple Applications
Many applicants are upset that they apply for a particular property and then lose that property to a competing applicant. Since ICON Real Estate Group, LLC legally represents the owner of the property; in the event we have multiple applications for the same property, we will process all approved applications based on the criteria we deem most beneficial to the owner. Only one application will be eventually approved and that may not necessarily be the first one received. In determining the best application that is “most beneficial” to the owner, we might as an example compare two approved applications where one desires to occupy immediately vs. another who cannot take possession for 2 weeks. In this example the most beneficial application is the one that can take occupancy immediately.
In the instance that you have an approved application but lose a property to a more beneficial applicant we will gladly transfer your application to another home of your choosing. Your approved application is good for 45 days. The best way to avoid losing your chance at an available property is to reserve/hold a property using the procedure outlined above.
Leases, Payment of Rent and Due Date
Every property managed by ICON Real Estate Group, LLC is rented for 12 months unless otherwise approved by the property owner and ICON Real Estate Group, LLC. At that time, you will have the option to renew and pay the renewal fee of $100 for a year lease or $75 for 6 months.
Once your application has been approved you will be contacted to arrange for lease signing within 48 hours. Be prepared to pay your first month’s rent, security deposit and any additional fees if applicable (pet fees, HOA, etc.)
Possession is not granted to any property until all supporting documents have been received by us, all funds have been paid in full and you have signed your lease. All utilities must be connected in your name at move in. Proof of connection may be required upon move in. If a utility provider requires documentation for account establishment, we can provide you with that at your request.
If you request to move in within 5 days of your Notice of Approval, a move in Rush charge of $150 will apply.
All rent payments are due on the first (1st) of each month and must be made via electronic funds transfer (EFT) from a bank checking/savings account, paid online via our tenant/management software.
Move-ins on a date other than the 1st of the month will have the second month's rent prorated.
How does that work? Well, regardless of the day you take possession of the property you will be required to pay a full month's rent before moving in. We will then prorate your second month's rent to reflect the actual days of possession. For example: You move in on June 20th and pay a full month's rent of $900. Your July 1st prorated rent amount due would be $330.00 ($900 / 30 days in June = $30.00/day x 11 days of possession for June). From then on your regular rent amount would apply.
Occupancy Standards
As a general rule a maximum of two (2) persons per bedroom not including infants age 4 years or younger are allowed to occupy a rental unit. Many county and municipal ordinances and some community associations limit the number of unrelated adults who may occupy a single dwelling to two (2) adults although this number varies by County and City. We have the following guidelines:
- Efficiency - 2 Occupants
- 1 Bedroom - 3 Occupants
- 2 Bedrooms - 5 Occupants
- 3 Bedrooms - 7 Occupants
- 4 Bedrooms - 9 Occupants
- 5 Bedrooms - 11 Occupants
Pet Policy
We love pets and welcome them to most of our properties! That being said, pets have the potential to cause huge amounts of property damage and significantly increase liability for the property owner therefore the privilege of housing a pet at one of our properties comes with extra responsibilities and obligations. All Pets/Animals are subject to Property Management Approval, which may be at the discretion of the owner. Please make sure to ask if the property you are interested in accepts pets. Pet Screening Profiles are required for every applicant applying for one of our properties. Pet Screening provides a risk level assessment for each pet profile which is based on the over risk of the pet. Pet Fees are based upon those Paw Score Risk Levels. Pet Screenings & Policy Affirmations can be completed by going to: https://theiconrealestategroup.petscreening.com
Regardless of prior consent, ICON Real Estate Group reserves the right to have any pet removed from the property if it is determined that the pet poses a threat to the safety or condition of the property or any people in the property or the community.
ICON charges a pet fee each month for each of your pets. The term “pet fee” is simply a fee you will pay for the allowance of your pet to occupy the rental unit with you. Pet fees are charged on a monthly basis and are paid with your property rent. The charges breakdown as follows for each paw score risk level and non traditional pets:
Pet Processing & Lease Addendum Fee for Pets*
- Pet Processing Fee $100 (Per Pet)
Pet Fee (Paid Monthly with Property Rent)
- Dogs & Cats
Based upon Paw Score - Birds (per cage)
Small Breeds (ie. Budgies & Finches) - Large Breeds (ie. Parrots & Cockatoos)
Small Breed - $10
Large Breed - $25 - Caged pets (per pet)
(Hamsters, Gerbils, Guinea Pigs, Reptiles, Ferrets, Amphibians etc…)
$10 - Water Filled Tanks “Fish Tanks”
(Per Tank Over 10gals) *max of 50 gal
$10 per 10 gallons - *Farm/Exotic Pets & Fish Tanks over 50Gal
Case By Case Basis
You will also have 2 annual pet inspections performed by an independent Agent each year to ensure no damage to the property has occurred at a cost of $150 each.
Resident Benefit Package
All tenants will be enrolled in the Resident Benefit Package. Icon Real Estate Group, LLC Resident Benefits Package (RBP) delivers savings and convenient, professional services that make taking care of your home second nature. By applying, Applicant agrees to be enrolled and to pay the applicable cost of $39.95/month, payable with rent.
Your RBP may include, subject to property mechanicals or other limitations:
- HVAC air filter delivery directly to your door approximately every 60-90 days
- Liability Insurance that meets all lease requirements from an A-rated carrier
- Move-in concierge service that includes a one call set up your utility services, cable, and internet services
- A resident rewards program that helps you earn rewards for paying your rent on time
- Credit building to help boost your credit score with timely rent payments
- $1M Identity Protection for all adult leaseholders
- 24/7 online maintenance reporting
- Home buying assistance for when the time is right to buy your “forever” home
- Online portal that includes access to your account, documents, communication and payment options
- Vetted vendor network: we find the technicians who are reputable, licensed, and insured
Liability Insurance requirements and options:
The Landlord requires Tenant to obtain liability coverage of at least $100,000 in property damage and legal liability from an A-rated carrier and to maintain such coverage throughout the entire term of the lease agreement. Tenant is required to furnish Landlord evidence of the required insurance prior to occupancy, at the time of each lease renewal period, and upon request.
To satisfy the insurance requirement, Tenant may either:
- Be automatically enrolled into a policy that satisfies the coverage requirements as part of the Resident Benefits Package; or
- Obtain alternative liability coverage from an insurer of Tenant’s choice.
The option Tenant chooses will not affect whether Tenant’s lease application is approved or the terms of Tenant’s Lease.
Option 1: Do nothing.
The tenant will be automatically enrolled into an insurance policy as part of the Resident Benefits Package. No further action is required. Coverage will begin on the effective date of Tenant’s lease and continue throughout the lease term. Please refer to the evidence of insurance that is supplied by The Icon Real Estate Group, LLC for additional coverage details.
Option 2: Buy a policy.
If Tenant prefers, Tenant may find, purchase, and maintain another policy that satisfies the Landlord’s requirements. The Resident Benefits Package monthly amount will be adjusted accordingly. Visit http://insurance.residentforms.com/ and follow the instructions listed there to provide evidence of the required insurance coverage to your landlord. The Resident Benefits Package monthly rate will be adjusted by the premium amount in the policy.
Please be sure that your policy meets the following criteria prior to submitting:
- Policy is purchased from an A-rated carrier
- Policy meets or exceeds the required $100,000 in property damage and personal liability
- The Icon Real Estate Group, LLC is listed as additional interest
- The Icon Real Estate Group, LLC address is listed as:
2537 Cedarcrest Rd suite 305-43 Acworth, GA 30101
Insurance Responsibility
It is Tenant’s responsibility to pay premiums directly to your insurance provider. If the policy is terminated or lapses, Tenant will be subject to a lease violation fee of $25 and agrees to be subsequently enrolled into the policy referenced in Option 1 above.
NOTE: The total monthly cost of the Resident Benefits Package is all-inclusive, and no discounts will be given if any element of the package is unavailable due to a lack of HVAC or another limitation at a specific property. All services are subject to the terms and conditions of the Resident Benefits Package Lease Addendum.
Association Applications
In rare instances some Homeowner / Community Associations may require a separate application. In the event that is necessary you must apply separately with the Association and that approval is a necessary prerequisite to our approval.
Non-Disparagement Clause
You will be required to sign a Mutual Non-Disparagement Clause with your lease. This Clause protects yourself and ICON Real Estate Group from disparaging comments, verbally or in writing that could be injurious to business, reputation, property or disparaging comments which are false. (Addendum Attached)
Leasing Consultants
ICON Real Estate Group, LLC provides leasing consultants to grant access to properties, distribute rental information, applications, rental process and application disclosures, and contracts to lease our available properties. The leasing consultant is not authorized to negotiate on behalf of ICON Real Estate Group, LLC and is not involved in the application approval process. Any verbal representations are not binding. Once your application is submitted; the approval/denial process and any negotiations will be handled by the account manager of the property for which you are applying.
Condition of the Premises
We believe we have a higher than normal standard in the preparation of our rental units, but our standards may or may not be equivalent to your standards. Unless you see something that you don’t like, or something that you would like added, our rentals are rented “as is”. We are happy to make your request(s) during the application process; we will gladly present it to the property owner. If the property owner grants our request, the modification will be made prior to you taking occupancy or otherwise annotated on the rental agreement. At no time does ICON make any promises or guarantees any work to be done to the property at any time unless stated in writing.
Site Unseen
Parties agree that tenants were given the opportunity to inspect the property prior to signing the lease. If Tenants declined to do so and chose to sign lease on subject property sight unseen for their convenience, parties acknowledge that Tenants will be fully obligated to the signed lease agreement should they not take occupancy of the property. Tenant does agree that any maintenance shall be done as stipulated by the Rental Agreement and not the preferences of the tenant since Tenant’s agreed to take property sight unseen. If any leaseholders have not physically seen the property prior to a lease being signed, a “Sight Unseen Addendum” will be required to be signed by all leaseholders.
Media Release
We routinely videotape and photograph the condition of our managed properties before, during and after each tenancy, as well as market our property and business with video tours, testimonials, etc. Applicant understands and agrees our company can use these videos for any legal purpose and accepts any risk or consequence from these videos being used in the course of business.
What Happens Next?
Once your application has been approved you will be contacted to arrange for lease signing, etc. Be prepared to pay one full month's rent. All initial move-in and/or property hold funds must be paid via tenant portal (we will provide you the link). Once moved in future rental payments will be made through your online resident portal.
Possession is not granted to any property until all supporting documents have been received by us, all funds have been paid in full and you have signed your lease. All utilities must be connected in your name to move in. Proof of connection may be required upon move in. If a utility provider requires documentation for account establishment, we can provide you with that at your request.
Mutual Non Disparagement Clause
The parties to this agreement mutually agree and covenant not to disparage one-another by publishing to any third-party, verbally or in writing, derogatory statements, “reviews,” comments or remarks that are, or could reasonably be construed as being, injurious to the other’s business, reputation or property and/or which are false, or would tend to cast a false or negative light on the other, including without limitation, statements of opinion, comparison or evaluation.
The categories of statements expressly prohibited by this agreement shall include, but are not limited to statements, including written, photographic or video-based reviews, testimonials or evaluations, published on any internet website, crowd-sourced review publication or database (including but not limited to Yelp, Facebook, Google Maps, Twitter, Angie’s List, Manta, Rip-off Report, Consumer Affairs, Google Reviews) whose subject matter is, whether in whole or in part:
- the performance or breach by the other party of any of such party’s obligations under any written agreement entered by the parties (whether prior or subsequent to this Agreement), including without limitation any lease or property management agreement;
- the performance or breach by the other party of any legal or regulatory duty;
- the physical condition of any real property, including without limitation required repairs or maintenance, or requests therefore;
- the payment, refund or accounting for any security deposit.
Anything to the contrary herein notwithstanding, the parties acknowledge and agree that this agreement is intended to constitute a voluntary, mutually agreed and mutually binding waiver and restriction of certain rights of the parties, including the ability to speak publicly, but shall not prohibit any party from publishing or making factual and accurate statements about the other party to any of the following:
- law enforcement agencies;
- regulatory agencies, including the Georgia Real Estate Commission or South Carolina Real Estate Commission;
- courts of this state, to the extent that such statements are made in connection with a legal proceeding;
- an attorney representing the party making the statement(s); and/or
- any credit bureau or other reporting agency, provided that the statements otherwise comply with applicable laws.
If any dispute arises regarding whether any remark, statement, or publication is disparaging or otherwise violates this agreement, the parties agree that for purposes of this provision, that any remark, statement, or publication shall be irrefutably deemed disparaging if:
- the other party requests, in writing, that the party publishing the same removes the statement and/or publication; and
- the statement and/or publication is not removed from publication within 72 hours of said written request.
The parties mutually agree that breach of this agreement shall subject the non-breaching party to damages, the amount of which are difficult to determine. Accordingly, the parties agree that damages for failure to comply with this provision shall be liquidated at $500.00 per day for each day that a disparaging statement remains in publication following the 72 hour notice and demand period herein specified.
The parties further agree that enforcement of this provision is appropriate through injunctive relief, notwithstanding any rights of the parties under the First Amendment to the United States and/or Georgia or South Carolina Constitutions or other codified statute, regulation, or code, and that any party who prevails on enforcement of this provision shall be entitled to recover from the non-prevailing party all costs and attorney fees associated with the enforcement hereof. The parties to this agreement agree that this provision shall survive the termination, expiration or cancellation of the lease and this agreement is enforceable at any time should any party publish a disparaging statement in violation hereof.