We want to make your experience in finding your next home an enjoyable one! Please see below to view all of the homes available for rent and find out more information. To reach our leasing line directly please text or call (910)236-6370. You may also email us at firstname.lastname@example.org and we will be glad to help you find your next home!
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Interested in learning about the requirements needed in order to rent a home from us?
In all cases, Cotton Property Management (“CPM”) makes a good faith effort to evaluate all candidates in light of the same objective criteria. In accordance with the FederalFair Housing Act we do not discriminate or make determinations with regards to persons because of race, color, religion, sex, disability, familial status, or national origin as this is prohibited by federal law. The minimum criteria for approval to rent one of our homes with a standard (1) month security deposit is as follows:
Minimum Credit score of 600*.
Monthly income that meets or exceeds 3x the monthly rent for the property in question**.
Clean rental history with no past due balances owed to landlords or evictions.
Move in date within 15 days of available date is preferred, move in within 30 days of available date is acceptable.
* - While 600 is our minimum credit score unless otherwise noted, this will depend upon the actual rent rate of the subject property. The following represent the rent rate ranges and what the corresponding minimum credit score requirements are:
Homes renting from $1,200 - $1,699/month – 600 Minimum Credit Score
Homes renting from $1,700 - $2,499/month – 650 Minimum Credit Score
Homes renting from $2,500 - $4,000/month – 700 Minimum Credit Score
** - In our industry it is almost universally recognized that the gold standard for qualifying income requirements is that gross income should be 3x or more what the home rents for each month. However, in our local economy, it is frequently the case due to our low mean area income in comparison to home prices, that this may not always be feasible. For this reason, we request and prefer that income be 3x what the home rents for each month, however we will accept as low as 2.5x.
Verification of Income:
The (3) Most recent paystubs must be provided for employees
For self-employed individuals, the last (2) years of taxes returns is required.
If someone has recently started or been offered a job, we need to receive a job offer letter.
If someone is unemployed, we need proof of SS income, retirement or other supplemental income.
For any other scenario when someone is not currently employed and earning income, we need bank assets that are equal to or greater than 3x the monthly rental income for the entire lease period.
Evaluating applications one at a time:
This process is easier and more straight-forward. The first applicant to apply who meets the minimum requirements is awarded the home. Provided that they agree to the terms and conditions, sign the lease document and pay the required security deposit they will be eligible to rent the home.
Evaluating multiple applications side-by-side:
If (2), (4), or even (6) applications are received at once, or if more applications are received while one is being evaluated but for which we do not yet have enough information to be able to approve an applicant (ex: applicant has failed to provide pay stubs or verification of income) then CPM will rank ALL applicants to determine which is the most qualified applicant presenting the least risk to the homeowner using a merit based point system to eliminate bias.
Free Rental Analysis
Reach out to us any time to discuss your rental investment management needs.
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