Thank you for your interest in Silver Bay. We offer a variety of floor plans, and pet friendly homes in the most desirable metro areas nationwide. Please feel free to browse our available properties Find A Home. You will find Great Homes that have been refreshed to our standard of excellence and Better Living with the convenience of a property management team.
Each adult (18 years or older) expecting to reside in a home managed by Silver Bay Property Corp. must fill out a rental application and show a valid government issued ID or proof of legal residence status with a visa. Inaccurate, incomplete or falsified information will be grounds for denial and may be grounds for breach of any lease you may sign.
Applicants must have documented gross monthly income equal to or greater than 3 times the monthly market rental rate or liquid assets (regular savings, mutual funds, short-term certificates of deposits, etc.) that are equivalent to at least 3 times the total lease value. Commissions will be accepted as part of the gross income calculation, if documented over a 6 month period. Income will be verified by one or more of the following methods as required by management:
Co-signers may be used for applicants who have inadequate income/salary, credit or rental history. Co- signers must fill out a rental application that must be processed and evaluated based on the Rental Occupancy Standards, must have an annual gross income equal to or greater than 4 times the annual gross rental rate excluding all specials, if any. In accordance with the policies of Silver Bay Property Corp., these guidelines are used to ensure fair and equal service to prospective and current residents. Silver Bay Property Corp. is dedicated to providing a quality living environment and exceptional service. If we reject or impose additional conditions due to credit information, we will send an adverse action letter.
We require that applicants have good credit. In the case that an applicant does not have established credit, it is management’s sole discretion to determine if background and income verification is sufficient to approve the application. Applications may be denied if an applicant's credit report shows that the percentage of derogatory credit items exceeds 50% of all credit items or an un-cleared bankruptcy. We do accept co-signers or payment of lease value in full in lieu of fulfilling credit history requirements.
We will verify at least two years of acceptable rental history for each applicant. If your rental history discloses an eviction or a skip in the last 7 years, any unfulfilled rental agreements for which you have not made full restitution, three (3) or more late payments or two (2) or more non-sufficient funds payments in a one-year period, your application will be denied. For evictions, skips, or unfulfilled rental agreements, if you provide verifiable evidence from the prior landlord that all balances have been paid in full, your application may be approved with conditions as described below. We do accept co-signers or payment of lease value in full in lieu of fulfilling rental history criteria.
A criminal background check will be conducted for each applicant. Applicants with certain violent crimes, crimes against children, sex crimes, or certain theft/fraud crimes will be denied. Certain other felonies and misdemeanors may result in denial if conviction is within the last 7 years or if there are multiple convictions within the last 5 years. We do not accept co-signers or payment of lease value in full in lieu of fulfilling our criminal background requirements.
An application may be approved with conditions if it is found that the income, credit or rental history requirements are not met. Applicants recommended as "Accept with Conditions" will be required to pay an additional security deposit. The standard security deposit requirement is equal to one month's market rental amount.
We do not participate in Section 8 home rental programs.
The occupancy standard is 2 persons per bedroom and one additional person.
Renter's insurance is required with a minimum coverage of $100,000 in liability and property damage for loss, theft, damage, or destruction of any personal property owned. Silver Bay must be named as an interested third party on the Renters Insurance policy.
Some Home Owners Associations (HOA) may require an additional application. In this case, Silver Bay application approval does not guarantee association approval.
|Prohibited Dog Breeds ─ full or mixed (including, but not limited to):|
|Akita||American Bulldog||Cane Corso|
|Pit Bull||Presa Canario||Rottweiler|
|*Or any other breed or type that Landlord deems to have similar characteristics|