Rental Qualification/Terms and Conditions
The following is an abbreviated version of the LS4R LLC, d/b/a Lone Star 4 Rent rental terms and
conditions. Please read the full terms and condition on the application before applying.
Age – Applicants must be 18 years of age or older unless deemed to be an adult under applicable law
with respect to the execution of contracts.
Credit – A credit report will be completed on all applicants to verify credit ratings. Income plus verified
credit history will be entered into a credit scoring model to determine rental eligibility and security deposit
levels. Unfavorable accounts which will negatively influence this score include, but are not limited to:
collections, charge-off, repossession, and current recent delinquency. Open bankruptcies will result in an
automatic denial of the application. Additional security deposits will be required for all credit
recommendations below an accept level, not including a denied application.
Credit Score
580-620
621-649
650 or more
Criteria
Double Deposit
1.5 times Deposit
Normal Deposit
Income – Gross income for all applicants in one home will be combined and entered into the credit
scoring model for income eligibility. Applicants must have a minimum combined gross income of 2.5 times
the monthly rent.
EXAMPLE*
Monthly Rent = $1,000.00
Minimum Combined Monthly Gross Household Income = $2,500.00
*We consider many factors when evaluating applicant’s ability to pay rent.
The example above is for illustrative purposes only and does not guarantee that you will be approved.
Some credit scoring results will necessitate further income verification. Employment verifications with
employer will be completed and/or applicant may be asked to produce additional financial
statements/records.
Additional sources of verifiable income may be considered. These sources may include: child support,
grants, pensions, GI benefits, disability, trust funds, social security and savings accounts.
Self-Employment, Retired or Unemployed – Such applicants must provide the previous year’s income
tax return and the previous two to three month’s bank statements, or twelve months of financial
statements and must exhibit no negative references. Seasonal employment must be verified by providing
the prior year’s tax return.
Rental History – Some credit scoring results will necessitate an evaluation of verifiable rental or
mortgage payment history for the last 24 months. In these instances, applicant must have a minimum of 6
months cumulative verifiable rental or mortgage payment history within the last 24 months. In such
instances, if a previous landlord cannot be contacted, 6 consecutive months of proof of payment must be
verified and a copy of the lease contract must be provided. Applicants not having verifiable rental or
mortgage history will have to pay an additional security deposit equal to one month’s rent.
Guarantors – Guarantors will be accepted for applicants who do not meet the required rent-to-income
ratio or who are denied on credit. Only one guarantor per home is permissible. For guarantor-supported
applications, an additional application fee will be required. The security deposit level will be based on the
credit analysis. The guarantor will be required to complete an application and pay a full application fee.
Guarantors must have a gross monthly income of 4 times the monthly market rent and meet all other
qualifying criteria identified in this screening policy. The guarantor will be asked to sign a Residential
Lease Guaranty and Application for Guarantor of Residential Lease to support the application.
Guarantors may be relatives or an employer.
Occupancy Guidelines – The following general occupancy standards apply based on 2 persons per
bedroom, plus one per home. (Occupancy standards may vary by region based on local laws.)
One Bedroom
Two Bedroom
Three Bedroom
Four Bedroom
Five Bedroom
Three Persons
Five Persons
Seven Persons
Nine Persons
Eleven Persons
Residents, who exceed these occupancy standards during the lease term, will be required, upon the end
of the current lease term, to either:
• Transfer into another available home which has more bedrooms; or
• Move out
Security Deposit Levels – The results of the credit score will determine the amount of the security
deposit. Security deposits will range from one to two month’s rent which is contingent on credit scores.
Pets and Animals - Pets are generally allowed, but must be approved. (Service animals assisting
residents and guests with disabilities are always permitted.) No more than three animals are allowed per
home, except for fish. Animals must be no less than six (6) months of age. Pet fees will be charged.
Aquariums will be allowed with a 20-gallon maximum only with proof of insurance for the entire term of the
lease.
Pet Policy & Pet Deposit: A Pet Addendum must be filled out and signed by residents at the time of
lease signing. *$500.00 Pet Deposit per pet, of which $250.00 is non-refundable (Must be paid in
separate money order/cashier checks). Maximum of three pets are allowed. We also require pictures
and pet records for our resident files. We do not currently charge a Pet Fee/Rent. No aggressive breeds
are allowed, such as Rottweiler, Pit Bull and German shepherd. Violation of Pet Policy will be fined at an
initial amount of $500 and $10.00 per day thereafter per pet for each day Tenant violates the pet policy.
*Restrictions do apply*
Please confer with your leasing agent on any questions not answered here.
Poisonous Animals:
Exotic Animals:
RESTRICTED ANIMAL LIST (included but not limited to)
Tarantulas, Piranhas
Ferrets, Skunks, Raccoons, Squirrels, Rabbits, Birds (parrots, cockatiels,
macaws…etc)
Criminal History – A criminal background check will be conducted for each applicant and occupant age
18 years or older. Please read our complete terms and conditions for further information.
OFFENSE
Crimes against a person or
property
Drug Related Offenses
Theft by Check Related Offenses
Worthless Check and/or Bogus
Check Related Offenses
Sex Related Offenses and
Terrorism Related Offenses
Prostitution Related Offenses
Weapons Related Offenses
Cruelty to Animals Related
Offenses
Any Other Felony Offense
Deferred Adjudication and/or
Adjudication withheld
Pending Cases and/or Arrest
Warrants
Active Status on Probation and
Parole
FELONY
MISDEMEANOR
10 Years
3 Years
10 Years
10 Years
10 Years
3 Years
Approved
Approved
Declined regardless of time
10 Years
10 Years
10 Years
3 Years
3 Years
3 Years
Felony offenses that do not fall within categories above, (ex: traffic,
DUI) 10 year timeframe; 5 years for felony DUI
Off probation/parole for 5 years
Approved
Off probation/parole for 5 years
Renter’s Insurance Requirement – Residents are required to carry Property Loss and Personal Liability
Insurance coverage. In addition, we ask that you identify the home as a “Party of Interest” or “Interested
Party” (or similar language as may be available) on the renter’s liability insurance policy. Proof of this
coverage is required at lease renewal and/or time of possession. Water Furniture will only be allowed with
proof of fully paid insurance for the term of the lease.
Commitment to Equal Housing - Lone Star 4 Rent is pledged to the letter and spirit of all applicable
state and federal fair housing laws, including, without limitation, the Fair Housing Act (Title VIII of the Civil
Rights Act of 1968, as amended), for the achievement of equal housing opportunities for all rental
applicants and tenants throughout each of the states in which we operate. We encourage, foster and
support affirmative advertising, marketing and rental program in which there are no barriers to obtaining
or enjoying housing because of race, color, religion, sex, handicap (disability), familial status, national
origin or any other class of persons recognized under any applicable federal, state or local laws, rules or
regulations. In addition, it is Lone Star 4 Rent policy to make reasonable accommodations for persons
with disabilities in accordance with applicable fair housing laws.
Reason for Conditional Recommendation- This occurs on applicants with little or no credit history. In
such cases, additional checks for rental and income/employment will be completed. If the criterion is met
in these checks, an additional security deposit may be required. On rental history, applicant must have 6
months of positive rental history within the past 24 months. When no rental history exists, an additional
security deposit is required. A criminal background check must be approved before further approval
consideration is given.
Reason For Denial - If this Application is denied, Landlord or Landlord’s agent shall within ten (10) days
thereafter and upon the written request of applicant, state the basis for said denial to Applicant.
Falsification of Application - Any falsification in Applicant’s paperwork will result in the automatic denial
of Application. In the event that an Applicant falsifies his/her paperwork, owner has the right to hold all
application fees and hold deposits paid to apply towards liquidated damages. Owner may also terminate
the lease if falsification is discovered after lease signing.
Application Does Not Create a Lease - This application, even if accepted, shall under no circumstances
be considered a lease agreement between Applicant and Landlord, or an offer to lease. No lease shall
exist between Applicant and Landlord unless and until the parties enter into a formal Lease Agreement
and Applicant pays all required fees, security deposits and rent.