Frequently Asked Questions for Altisource Rental Homes

FAQs – Frequently Asked Questions




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Qualification and Application Requirements »


FAQs

  • What is Altisource Rental Homes?

    Altisource Rental Homes is one of the fastest-growing property management companies in the US. We do not own the homes – we manage the leasing, repairs and customer service for the property owners. We strive to make leasing a home convenient and hassle free with our web-based technology platform. Through our 24/7 customer service and established network of local brokers, repair vendors and general contractors, we are able to deliver quality homes and services to all of our tenants. Customer service is our top priority!
  • What type of rental homes are available?

    Most of the rental properties are standalone, single-family houses. You will also find townhomes and condos available in select locations.
  • Where are the rental homes located?

    Rental homes are located throughout the United States, from Chicago to Charlotte, Houston to Orlando, Atlanta to southern California. More homes are renovated and listed on the market every week, so check back often to see what’s available to rent!
  • Are the homes renovated?

    Yes, Altisource Rental Homes utilizes a strong network of professional maintenance teams that investigate, renovate, and remodel all of our rental homes. We pride ourselves on our excellent move-in ready rental homes and strive to offer the best maintenance repair service in the nation.
  • Do you offer rent-to-own homes?

    At this time we do not offer rent-to-own home opportunities, however, if you are interested in purchasing a home, please visit our partner company sites:
    Hubzu.com
    Owners.com
  • What is the Pet Policy?

    You are required to disclose in your application all pets that will reside in the property. Maximum pets allowed is 3 and each pet will be approved on a case-by-case basis. Akitas, Akita Huskies, Alaskan Malamutes, Bull Mastiffs, Cane Corsos, Chows Chows, Chow Rottweilers, Dobermans, Doberman Pinschers, German Shepherds, Great Danes, Mastiffs, Pit Bulls, Pit Bull Terriers, Presa Canarios, Rhodesian Ridgebacks, Rottweilers, Siberian Huskies, St. Bernards, Staffordshire Terriers and Wolf-hybrids are not permitted on any Premises and we have the right to restrict other breeds or specific animals at our sole discretion. Pets are subject to a one-time non-refundable fee of $200 per pet due at move-in, except as prohibited by law. The pet fee does not apply to service animals* or for small caged animals. A resident may not keep more than two 30-gallon or larger aquariums in the home. Resident must provide a photograph and vet record showing that vaccinations are current for each pet. Resident will abide by the rules and regulations of any applicable Homeowner’s Association (HOA) and/or local ordinances with regards to pet and breed restrictions. *Service animal is defined as any animal that has been trained to perform tasks that assist people with physical or mental impairment. A service animal is not a pet.
  • Are any rental homes part of HOAs (Homeowners Associations)?

    Yes, some homes, particularly in Florida, are part of HOAs or Homeowners Associations. Every HOA has its own distinct rules, especially regarding pets, so please ensure you review and understand ALL HOA rules and regulations prior to applying. 
    Important: Some HOAs require renters to complete an additional application with more stringent income and background requirements than the one required by Altisource. Accordingly, it is possible for Altisource to approve an applicant, only to find out that the applicant does not pass the HOAs more stringent application criteria. In such situations, if there is no other home in our portfolio that you are interested in, we will return your deposit and any rental payments. Your application fees are non-refundable.
  • Do you accept Section 8 (HUD) vouchers?

    Yes, we do accept Section 8 (HUD) vouchers on all our properties. To learn more about our Section 8 requirements, click here.
  • What are your application requirements?

    Review our Qualification and Application Requirements sections to learn more.
  • How and where do I apply for a rental home?

    Applying is easy and can only be done on our website, www.altisourcerentals.com!
    Search and find the rental home on our website (click here or the “Search Rentals” tab above);
    On the search map or list view, find the rental home and click “More Details”;
    On the rental home’s listing page, click the “Apply Today” button to start your application.
  • What is your standard application process?

    The standard application process is as follows:

    • Fill out your desired property’s application form online;
    • Attach your documents and sign the DocuSign form;
    • Make the application fee payment and submit;
    • Once a complete application is submitted (including all documents), it will go through our screening and review process.
    • Note: our applications are reviewed and managed on a first come, first serve basis.
  • How long does the application process take?

    Once you have submitted all the required documentation, the application process may take 48 to 72 hours.
  • What is your application process for Section 8?

    You will go through the standard application process, with only a few differences:

    • With Section 8, the overall process will take longer (typically 30-45 days).
    • If you are applying for a home with the assistance of the Housing Choice Voucher Program, make sure to send in (i) your voucher and (ii) your standard income verification documents. These will be used to verify sufficient income and ensure we provide the most accurate results to your application.
    • To reserve the property and remove it from the market, you may be required to submit a hold deposit.
    • To learn more, go to our We Accept Section 8 info page.
  • What are your Application Fees?

    A nonrefundable Application Fee of $40 per adult occupant over the age of 18 is required ($20 in Wisconsin), prior to submitting the online Application. We use the fee to pay for a credit check, contact references, and administration.
  • Do I need to include my children on the lease?

    We only require occupants who are 18 yrs old and above to be on the lease. Many tenants include their kids on the lease for school or other legal purposes. You may include at your discretion.
  • I am a non-US citizen, but I work in the US. What do I use as my SSN on the application?

    You can put in zeros on the SSN field. Make sure to provide a copy of your passport and work visa so we can verify.
  • My company will pay my rent. What do I need to submit?

    You will still need to submit an application and list yourself as the primary applicant. A representative from the company must submit an application as your guarantor. The following documents must be submitted: IDs Board or secretary certificate of the company’s representative Income documents of the company i.e: latest income tax return and bank statements or any proof of income Certificate explaining how long they will be paying rent on behalf of the tenant
  • Do you run my credit?

    Yes, a credit check is required as part of the background screening. The credit check is performed by a third party company who currently runs them through the following credit bureau: Equifax. If you have any disputes, you will need to contact them to discuss (information will be provided).
  • How important is my credit score?

    Your credit score is one of several important factors we consider during the application process. We require a minimum average combined credit score of 500 or above. Applicants with average combined credit scores between 500 and 550 may be required to pay first and last month’s rent prior to move-in (or a double deposit in GA). Applicants with average combined credit scores below 500 will be automatically declined. Tenants will not be disqualified for not having a credit history. Credit checks are currently run through the following credit bureau: Equifax. Click the Qualifications and Application Requirements button above for more info.
  • My credit score is below 500. Will I be automatically declined?

    It depends. We will request a credit report on all applicants to verify credit worthiness. You will need a minimum average combined credit score for all Applicants of 500 or above (for example, if your score is 480 and the other applicant’s score is 560, the average combined credit score is 520); however, we do not disqualify tenants solely for not having a credit history.
  • Do you accept paycheck “stubs”?

    No, we do not accept paycheck stubs. We need a copy of formal paychecks with pay periods and number of work hours indicated. If formal paychecks are not available, a bank statement may serve as your proof of income document.
  • I am self-employed and do not have paystubs. What do I do?

    Please provide us with your latest personal income tax return and copy of 6 months personal bank statements. Documents must be under your name and not under a business or company name.
  • I do not have proof of income. What do I do?

    You can get a co-applicant who meets our application qualifications. You may also get a guarantor if no co-applicant is available.
  • I receive benefits as my proof of income. What else do you need besides bank statements?

    You need to provide a copy of your benefit contract (SSI, SSA, VA contract or court ordered child support document).
  • Why do you need my W2?

    If proof of income documents, such as paychecks, cannot be provided then the W2 is necessary for verifying your income and employment status. It is often required by the state or bank to open up a deposit account on your behalf (to hold your security deposit money).
  • I don’t have a W2, can I still be approved?

    It depends on what proof of income you can provide. If you do not have paychecks or a W2 available, then you will need to provide other proof of income, such as your latest income tax return and bank statements.
  • How many guarantors will you accept in an application?

    We can only accept one guarantor per application.
  • What if I need to add someone to an application?

    You need to submit a new application via our website and pay the application fee. This time, you only need to enter the new tenant’s information. Once submitted, we will merge it with your application.
  • How long is my application valid?

    Your application is valid for 30 days from the date the background screening was executed.
  • Why do you still accept applicants when somebody already got approved?

    We only take the property off the market once the approved applicant paid the deposit and signed the lease. Until then, the property remains available for all potential tenants.
  • What is conditional approval?

    If you are approved with conditions, it means you did not fully meet our standard qualifications and leasing the property will require additional information, a guarantor, and/or additional rent/deposits (Georgia residents may be required to pay an additional one month deposit while residents in all other states may be required to pay an additional one month’s rent, on or before your lease start date).
    Note: Should an additional deposit be required, any payment amount received will be applied to the deposit first before any other amount.
  • My screening result looks incorrect. Can you change it?

    If you feel that the screening report is inaccurate, we encourage you to call RealPage via the number provided on the notice so you can file a dispute. RealPage will send us an email if the dispute is valid and we need to rerun the screening.
  • My application was declined. Can I pay in advance to get approved and move in?

    We can reconsider the application if you opt to pay 1 full year of rent in advance. Note: This option is not available if the reason for denial is criminal record.
  • My application was declined due to low credit score. What do I do to get approved?

    You can get a co-applicant with a high credit scrore. If your average combined credit score is 500 and above, then we can reconsider the application. If you think your credit score is incorrect, then please contact the Realpage screening agency (contact info provided in Decline Notice) to discuss.
  • My application was declined due to evictions. Will getting a guarantor help me get approved?

    A guarantor can only be used if you cannot pay for the rent. As per our qualifications, you must not have evictions for the past 4 years for us to consider the application.
  • My application was declined due to evictions and landlord collections from two years ago. I cleared it and have documents to support it. Will you reconsider my application?

    As per our application qualifications and guidelines, an applicant must not have any landlord collections for the past 5 yrs and evictions for the past 4 years. While those were dismissed, we regret to inform you that we are unable to proceed.
  • How do I pay the deposit? Do you accept credit card?

    We only accept checking accounts for paying the deposit. If you are paying through yor debit card, make sure that it has an account and routing number. You may call your bank to get your routing and account number.
  • How soon can I move in?

    Move-ins must occur between 7 – 30 days of application approval, unless a relevant Homeowners Association mandates a different timeframe or the scheduling of a mandatory Section 8 inspection causes a delay. Move-ins earlier than 7 days require management approval. For example, if your application is approved on January 1st, the earliest you can move in is January 8th and the latest you can move in is January 31st. You are responsible for all rent payments starting from your selected move-in date. If you choose to move in after the 30-day period, you are responsible for paying rent starting at 30 days from application approval.
  • How much rent is owed at move-in?

    Tenants who move in between the 1st – 21st of any given month must pay the pro-rated current month’s rent. Said tenants will then fall into the normal monthly rent payment cycle with rent due and payable by the 1st of each month. Tenants who move in between the 21st and 31st of any given month must pay the current month’s pro-rated rent, along with the following month’s full rent, at the time of move-in. These rent payments are in addition to Security Deposit payments and any other fees that may apply.
  • Who is responsible for utilities?

    As the tenant, you are responsible for payment of all utilities in your new residence, unless otherwise stated in your lease. Your local leasing broker can assist you with identifying the utility providers in your area. You will need to arrange with the local utility companies to set up your accounts and start the service. Please note that it may take a few days to start your service so we suggest contacting the utility providers as soon as you know the start of your lease period. Altisource Rental Homes will not be responsible for utilities in the home after the start of your lease period. If the utility provider turns off your service due to non-payment or for any other reason, please contact the utility company directly for assistance. We are not a party to the agreement with you and the utility provider.
  • I need to get a copy of my fully executed lease so I can transfer my utilities under my name.

    Once you settle your remaining balance and provide us a copy of your renter’s insurance, we can provide the fully signed lease.
  • Do I need renter’s insurance?

    Yes, we require renter’s insurance for anyone who rents a home from us (a minimum of $100,000 liability coverage; $300,000 if you have a pet* in pet-approved dwelling). A renter’s insurance policy covers more than just your personal belongings. It also includes liability coverage in case someone injures themselves on the premises or your landlord claims that you have damaged the property in some way. You are welcome to use any insurance company, however, we have made the process of obtaining renter’s insurace simple, safe and secure in as little as 3-5 minutes. Click here for more information. *A service animal is not a pet.
  • Who is responsible for making sure my washer and dryer hook up properly?

    Washer and dryer hookups may be provided in your rental unit; it is your responsibility to ensure that your washer and dryer are compatible with the type of hookup (electrical / gas) provided. If washer and dryer hookups are provided in the unit, Altisource will not retrofit the hookups to match your type of washer or dryer (electrical / gas).
  • How do I pay rent?

    We have made it very convenient for you to pay rent online. Our secure and easy-to-use Tenant Portal allows you to make rent payments directly from your bank account (ACH). You can set up a one-time payment or a recurring automatic payment for the entire lease period. As a courtesy, ACH payments are free to process. Credit / debit card payments will be charged a processing fee (currently $30).
    Note: Debit card payments may come out of the same bank account as your ACH payments, but the processing is different – so to avoid any processing fees, we recommend using your debit card account’s ABA Routing and Account numbers.
  • How do I request a repair?

    It’s easy! Log on to your Tenant Portal, click the Maintenance tab, and click the “New Service Request” button to submit your request. One of our customer service representatives will contact you promptly . We are available 24/7 and will send a qualified service repairman to your home to resolve the problem as soon as possible. If the Internet or electricity is not working, you can call our customer service at 1-855-662-8988 to request a repair.
  • What am I responsible for maintaining in my home?

    Please refer to your lease for all tenant responsibilities, including changing light bulbs, mowing the lawn, and changing HVAC filters. It is imperative to maintain the inside and outside of your home in quality condition. Properly maintaining the property helps preserve your security deposit and minimize the inconvenience of repair service calls. You are not responsible for normal wear and tear. However, as provided in your lease, you will be responsible for repairs and damage due to negligence or misuse by a resident or guest.
  • Who is responsible for landscaping?

    Pursuant to the Lease, it is your responsibility to maintain that landscaping during your tenancy, including mowing the lawn, removing or killing the weeds, and cutting back the shrubs. When you rent a home with us, you get the landscaping “as is”.
  • Who changes the HVAC filters in the home?

    Pursuant to the Lease, you need to change the HVAC filters quarterly at your cost.
  • Who manages pest control?

    We treat all rental homes for pests prior to your move-in and inspect them for termites annually. It is your responsibility to rid the property of pests during your occupancy. To prevent pests entering your rental home, we recommend that you maintain clean housekeeping habits and do not leave your doors and windows open for extended periods of time.
  • Do you install garbage disposals?

    No, we do not install garbage disposals in any of our homes.
  • Do you install new ceiling fans?

    No, we will replace it with a flush-mount light.
  • Do you replace broken window screens or screened doors?

    No, we will remove them (except in Florida where we are obligated to replace window screens, not doors).
  • What are my responsibilities if the rental property has a private pool?

    If the home that you rent has a pool that is not operated by a condominium or homeowners’ association (COA/HOA), then your responsibilities include, but are not limited to:

    • Maintaining pool for normal use, including cleaning, chemical purchase, and equipment purchase
    • Properly storing, protecting, and maintaining condition of any covers or other equipment provided
    • Using test strips/kit to periodically check water for proper balance
    • Immediately resolving any water quality or chemical imbalance issues
    • Maintaining security and safety for pool guests
    • Limiting access and securing pool when not in use through use of locks, covers, or other means
    • Reporting any pool malfunction to landlord immediately
    • Providing access to landlord (or affiliated vendors) to monitor condition and upkeep of pool, when necessary
    • Providing renter’s liability insurance, including liability related to the pool no less than $500,000 (with max $500 deductible)
  • What changes can I make to my home?

    The following enhancements to the property are permitted, unless stated otherwise in your lease:

    • Planting of flowers or small plants in existing flower beds
    • Changing of curtains or other fabric window treatments, as long as original window treatments are re-installed prior to moving out without any damage
    • Hanging of a reasonable number of pictures on walls with small nails as long as holes are filled and repainted prior to moving out
    • Any and all other modifications to the inside or outside of the property, including painting and significant landscaping, must be submitted in writing through the Tenant Portal and approved by Altisource Rental Homes.