FAQ: Questions and answers regarding renting a house in Memphis
Enterprise Property Management answers frequently asked house rental questions covering its payment policy, maintenance, lease terms, how to pay rent and more.
- What is your payment policy?
- What is classified as an emergency?
- Who do you call?
- How do I find out which properties are available?
- Why is there not a specific availability date?
- How do I view a property?
- How do I apply for a property?
- Who must complete an application and what are the requirements?
- How much is the application fee?
- What do the application cover?
- What if my application is denied?
- How much is the security deposit?
- Can I hold the home off the market while my application is approved?
- Is my holding deposit refundable?
- Are there any pet fees?
- What will I owe at move in?
- Is a personal check acceptable for my first month's rent and the security deposit?
- What are the standard lease periods?
- When is the rent due?
- What are the penalties for early termination of a lease?
- Do you run a credit check on every applicant?
- What about bankruptcy?
- What about smoking?
- What About Roommates, Visitors, and Sub-Leasing?
- Do you rent month to month?
What is your payment policy?
All rent is due on the first of the month with a grace period to the fifth. Rent paid on the sixth of the month or later is additionally charged with a late fee equaling 10% of the monthly lease price. Payments made after the 6th need to be in certified funds.Back to top
What is classified as an emergency?
An emergency is any situation, which causes a potentially immediate danger to an individual or the property. The best examples are fire and flooding, but any situation, which has the ability to endanger life or property, is considered an emergency.Back to top
Who do you call?
As is the case with any serious emergency, the proper authorities -- 911,
fire department, police department, etc. -- should be notified.
However, in the case of a possible emergency: (see above)
Emergency Maintenance: 901.260.0206
Follow the prompts to place your maintenance request.
How do I find out which properties are available?
Please visit "1, Find a Home" page hit the search button. Simply locate the city in which you wish to search, and press "Search!" If there are no available properties, but you would like to find out about properties that will be coming available in the near future, look in the "Future Listings". There you will see homes that will be coming online within the next few weeks. Still not seeing what you want? Please call us at 901.260.0206 or email us at: firstname.lastname@example.org.Back to top
Why is there not a specific availability date?
Regrettably, many factors can affect the availability of a home. The suggested availability is an approximation of when we expect the home may be ready for viewing. Precise dates are difficult to predict accurately due to, but are not limited to:
- Current tenants sometimes need to extend their stay
- Unexpected home maintenance or repair
- Completion of the make ready process
For more information, please contact the office about the specific availability of a home. Call the office at 901.260.0206Back to top
How do I view a property?
Call our office at 901.260.0206 ext. 1 or send an email at email@example.com, and we will set up a private property showing for you.Back to top
How do I apply for a property?
If you have not previously mailed or faxed us the online application, you will then fill out the application form and pay the non-refundable $50 credit application fee. The normal turnaround time for an application is three days. At that time, we will contact you with additional requirements (varying depending upon property.)Back to top
Who must complete an application and what are the requirements?
All adults age 18 and over must present photo identification and complete an application. The income requirement is 3 times the monthly rent. We will check your landlord and employment references to determine your ability to pay the rent on time and to take care of the property. You must also have minimum of 2 years employment history.Back to top
How much is the application fee?
All individuals completing an application must pay a $50 non-refundable fee with the application.Back to top
What does the application cover?
The application fee will cover the processing of credit, employment and residential history. We use Equifax to help process the background check.Back to top
What if my application is denied?
The application fee is spent when we process the background check. The "Home Holding fee" will be returned to you in full.Back to top
How much is the security deposit?
Usually the security deposit is equal to one month's rent. From time to time, some owners may offer special promotions to help lease their property more quickly. The security deposit is paid when you move in and must be paid by certified funds (cashier's check or money order).Back to top
Can I hold the home off the market while my application is approved?
A $250.00 home holding deposit can be paid to keep the home out of the hands of competitors, while we run a rental application.Back to top
Is my holding deposit refundable?
In the event the application for residency is not approved or accepted, or if the residence is not ready for occupancy on or before agreed move-in date, the holding deposit will be returned to the applicant. If, however, the applicant is approved, agrees to a move-in date, and the property is removed from the market, and the applicant then fails to sign the rental agreement, fails to provide the additional funds required for occupancy, or does not take occupancy on the agreed upon scheduled move-in date, the holding deposit will be forfeited. The holding deposit shall be applied toward the security deposit or rent when the rental agreement is signed.Back to top
Are there any pet fees?
Some homes allow pets, or certain breeds. If the breed of animal is approved (ask staff) then the pet deposit will be a non-refundable $300 per animal. Our professional standards require that the property be professionally treated for fleas and the carpet professionally cleaned, after each tenant with a pet, and the Pet Deposit goes to perform these actions.Back to top
What will I owe at move in?
The balance of the one-month's rent and the security deposit is due at move-in regardless of the day of the month. If you move in during the middle of a month the prorated rent charge will be due on the first day of the second month you are in the property.Back to top
Is a personal check acceptable for my first month's rent and the security deposit?
No. The first month's rent (including any pro-rated days), and all deposits (security and pets) must be presented in certified funds. After the first month, you may pay your rent in personal check, money order or cashier's check.Back to top
What are the standard lease periods?
Leases are for a period of 12 Months.Back to top
When is the rent due?
Rent is due in the office on the first of each month. A 10% late fee is assessed if we have not received your rent by the 5th day of the month. A postmark ofBack to top
What are the penalties for early termination of a lease?
If you decide to move out prior to the end of the lease term then you will be required to give us 30 days written notice, pay rent through that 30 day notice period, and pay a lease termination penalty of one month's rent upon moving out. The security deposit will be forfeited under the terms of the Lease Termination clause.Back to top
Do you run a credit check on every applicant?
We do run a credit check on all our applicants, even when your credit is good. This process is necessary for us, and a benefit to our applicants in that a credit check can sometimes uncover false, incorrect or outdated information in your credit report that you will want to address.Back to top
What about bankruptcy?
If you are currently in bankruptcy, we cannot rent to you. If you have a previous bankruptcy, but have since firmly re-established your good credit, we are willing to be flexible. Please call us for further consultation.Back to top
What about smoking?
We do not allow smoking inside of any property that we manage. Smoking can damage sensitive building materials and become an allergen to the tenants that occupy homes after the smoking party has left. By smoking inside of the property, you run the risk of eviction and lawsuit. Therefore, this policy is in force for any tenant that allows any smoking inside their residence. This includes, friends, family, guests, etc. If you are a smoker, or nonsmoker, and do not wish to pay for property damages that come from smoking, please do not allow smoking in your residence.Back to top
What About Roommates, Visitors, and Sub-Leasing?
Roommates will be subject to the same move-in procedures, background checks and requirements as our primary tenants. Roommates may not be moved in without prior written permission and a thorough check is completed and accepted by Property Works. Sub-leasing is never allowable for any reason.Back to top
Do you rent month to month?
We do let the lease go month to month with a 5% increase in rent after the initial term which is usually 12 months.Back to top