Below are some commonly asked questions by some of our residents.
Frequently Asked Questions
I need to take someone off the lease/add someone to the lease. How do I do that?
This would require the remaining party or the incoming party to apply for the home.
I’m having issues transferring utilities.
Please reach out to us with what bill(s) specifically you’re unable to transfer and clarity from the utility company as to why they are not allowing the transfer.
I would like to make changes to the home (paint, install a satellite, etc.) What do I need to do in order to do that?
We’ll need to send you a document called a Cosmetic Change Form. Fill that out with the specifics of what modifications you’d like to make and we’ll pass it along to the owner. As long as they sign off on it you’ll be free to move forward with those changes.
I want to change the day my rent is pulled/have you pull on a different day. Can I do that?
Unfortunately, in most cases our system doesn’t allow us to change the rental pull dates and we need to stick to the date listed on your lease.
I got an eviction notice and would like to discuss the amount &/or pay the balance.
You MUST pay in full and verify with Collections on what that final balance is, as there may be legal fees if we’ve sent your case to an attorney.
I want to terminate early. How do I do that?
We require a 30 day notice and there is also a Lease Break Fee the amount of which depends on the terms of your lease for terminating the lease early.
I’m looking to get my security deposit/why didn’t I get my full deposit back?
Your Property Manager will reach out once they have any update for you on the status of your deposit. It varies by State Law, but takes up to the full 30 days to get your deposit back.
Does this home accept Section 8?
We operate across the U.S. and things are constantly changing so there isn’t a way to definitely provide that information, but know that we will always abide by all local and state rental assistance laws.
What are the qualifications/what do you look for during the application process?
We look at your credit, background, rental history, & income
- Credit check: It’s a hard hit and we use TransUnion
- Background check
- Rental history (mainly looking for negligence, like evictions or collections, more info below)
- Proof of income:
- W2 Employees – Must provide a minimum of 2 most recent pay stubs totaling at least 1 month (30 days) of income.
- Pay stubs must legible and include employer name, address and phone. Pay stubs must also include applicant name, pay dates, YTD earnings and tax deductions.
- Self Employed – Must provide previous six (6) months personal bank statements as evidence of sufficient monthly income.
- Bank statements must have applicant name, bank name and address.
- Jobs that are commission only, base salary plus commission, tips, bonus or cash, will be considered self- employed and must meet the guidelines for self-employment.
- Offer Letters and Transfer Letters – All letters must be on company letterhead, signed by employer and include the employer contact information, employee start date and income. Start date must be within 30 days of application date.
- Child Support and Alimony – Must be court ordered along with six (6) months of current bank statements or payment statement from the state Child Support Enforcement Agency.
- Social Security Income – Applicants must provide current government issued SSI Award Letter reflecting the applicant as active recipient along with six (6) months of current bank statements or payment statement from the Social Security Administration.
- Pensions/Retirement Income – Applicants must provide six (6) months of current bank statements or Pension/Retirement statements.
- Military Housing – Basic allowance for Housing (BAH) document and Earnings Statement (LES) required and/or additional proof of verifiable income.
- Foster Child Income – Must provide formal letter from foster agency regarding foster income and age(s) of foster child(ren) and six (6) months of current bank statements or payment statement from the state Foster Care Agency.
- Other income: ask your Leasing Agent
- Marketplace Homes partners with Plaid to securely verify your income directly by connecting your bank account where income is received.
What if I have no rental history?
If this is the first time you’re renting, that’s not a problem at all. With rental history we’re mainly checking for anything negligent; like open collections to a previous landlord/management company or evictions.
I have a prior eviction/open collection, would this automatically disqualify me?
While your application will automatically come back as declined if you have an eviction or open collection on your record, the Homeowner may be willing to override with written documentation that the debt has been satisfied.
My move in date is in (a month or more), can I still see the home?
Our homes fill extremely quickly and we require that the lease begins within 21 days of when your application is approved.
What is the application fee?
The application fee is a one time, non-refundable $50.00 fee per applicant 18 and older. (NOTE: This fee is charged as soon as you send the application in. If we don’t receive the app fee, we can’t run the app.)
How do I apply/Do I have to see the home first?
The application will be emailed to you directly through our system shortly after a showing. While you can apply without seeing the home, we generally recommend a tour first as the application fee is non-refundable.
The application can also be found online on our website if you’re unable to do a tour.
Who needs to fill out an application?
Anyone living in the home over the age of 18 will need to fill out an application.
Is there a pet fee?
Yes, there is an upfront pet deposit that for most homes is $250-$350 per pet as well as a trailing fee per month per pet that is usually $25-$35 added to your rent. (The deposit alone is refundable along with the SD depending on the state of the home). Each home is different, though, so specific fees will be on the application.
What is the total move in cost?
At the very minimum it will be *Security Deposit, Rent, and Fees (**admin, pet, short term). There are so many factors that go into it, but we recommend a showing so the Leasing Specialist can give you all of that information if you apply.
*First months rent is prorated & Security Deposit may increase depending on the results of the application.
**$350.00 one time Admin/Processing fee = one time, set up fee. This covers the drawing up of your Lease, Utility Addendum, Breakdown of Move-in Funds, and any Addendums. It also includes the set up of your Ledger, processing move-in funds (as well as recurring payments), and getting you set up correctly in our system.
**$11.00/monthly admin fee = this covers a few things, the most important one being our 24/7 Maintenance Hotline. Our property managers always staff this line, so that no matter what time/day of the year, you are able to reach them with any concerns. This fee also covers your rent pull, and our Client Services Team who is available 7 days a week.
Is the price negotiable? Will they take $XX.XX for the home?
Our homes go very quickly so we tend to fill the home for the listed amount; you can always ask your Leasing Specialist once you apply.
Is it furnished/does it come with any appliances?
It does come with all the appliances you see. The other furnishings you see, like the furniture & decor, is just part of our virtual staging so you get a good idea of how the home may look occupied.
When will I hear back/how long does it take to process the application?
It takes about 1-2 business days* to process the application, possibly longer if we’re waiting on final approval from the owner. Our Leasing Agent will always reach out to you once we have an answer for you.
Do I need renters insurance?
Yes we do require renters insurance to rent one of our homes. If you don’t currently have a policy, we can provide you with one! We work with a renters insurance company called AssetProtect, & they will provide you with $100,000 Liability and $10,000 Personal Property for just $16/month if you’re unable to get it elsewhere.
- To submit a claim: 888-814-6950
- When they submit a claim it may ask them for a zip code, that’s going to be OUR zip code here (48207), then they’ll select “Marketplace Homes” and can submit from there.
- After a claim has been submitted: 888-788-0873