How long does it typically take to process an application? Applications will not be processed until at least (1) applicant physically views the property in which they are applying for. Typically, it takes 48 to 72 business hours to process an application depending on verification response time. To expedite this process, please make sure your application is complete and all requested documentation is attached. We are unable to process your application if information is missing.
How much is the application fee? Paramount Properties does charge a non-refundable $30 application fee. The application fee is itemized as follows: Credit Report: $15.00, Employment Verification: $5.00, Tenancy Verification: $5.00, Clerical Costs: $5.00. You have the right to request a copy of your credit report at no additional cost to you.
Can I provide you with my credit report? No, we do not accept credit reports generated outside of our office. All aspects of the credit report must be done through our office.
Do I need renter’s insurance? If so, what is the requirement? Paramount Properties requires that you provide proof of renter’s insurance within 14 days of your commencement date. We ask that you have a minimum of $100,000.00 Liability and $10,000.00 Personal with Paramount Properties named as an additional insured. The cost for this is approximately $10-20 per month. Most automobile insurance companies offer discounts for adding a renter’s insurance policy. If you do not provide proof of renter’s insurance by the 15th day, you will be automatically enrolled via Assurant at a cost of $14.95 per month and will be deducted from rental payments if the additional cost is not added.
What does it cost to Move-In? Move-In costs will vary depending on the day of the month you Move-In. Essentially, we calculate your Move-In in the following manner: Prorated Rent + Security Deposit (+ Pet Deposit, if applicable) = Move-In Costs. Move-In costs are to be paid at the time of possession and must be in the form of certified funds (money order, cashier’s check).
Do you allow pets? Properties we manage vary in which they allow pets. Please inquire about pets if you find a property you are interested in renting. An additional deposit will be required. Deposit amounts vary for each property and size, type of pet.
What if there are multiple applicants for one property? Paramount Properties processes applications on a first-come, first-serve basis. Should the first applicant not be approved, the second received will be processed and so on and so forth. Application fees are refundable for applications not processed.