Rental Policy
In order for Cambridge Corporation's Property Management division to serve its owners, certain measures must be taken to ensure proper tenant selection. The following is a list of items than an applicant can expect to have performed before acceptance for any property applied for through Cambridge Corporation.
- There is a $25, non-refundable, application fee per applicant. This is to cover the cost of the time, paperwork and credit report required to properly process the rental application. Any rental application received without the application fee will not be considered until the application fee has been received.
- A credit report will be acquired from Equifax Credit Bureau. Any collections, judgements or liens (paid or unpaid) will be cause for application denial. Any bankruptcy claims, less than 5 years old, will also be cause for application denial.
- Both present and past landlords will be contacted regarding the applicant's tenancy at the provided addresses. Late payments, court filings and evictions will be cause for denial.
- Present employers will be contacted regarding employment dates and income amount. The income figure that we require is three to four times the amount of the rental expense. If the figure is any lower, this will be cause for denial. (Ex.: A property with a rental amount of $500 would require applicants to make at least $1500 per month.
Please understand that we have to represent the best interest of our owners and a thorough application process is the first step towards meeting our goals.
*Note: If you fail to meet any or our requirements you may apply with a co-signer. If a co-signer is required, the co-signer MUST meet all requirements!