What are your qualifications?

  • 525 (or higher) credit score
  • No evictions or eviction filings in the last 3 years; no more than 1 in the last 5 years
  • Proof of local income for the past 60 days
  • No section 8 accepted
  • You must pay first month's rent plus security deposit to move in (security deposit is same amount as one month's rent)

Earnings Chart:

Rent   Required Income
$500 - $700                      $1800 + Rent
$701 - $900   $2000 + Rent
$901 - $1100   $2200 + Rent
$1101 - $1200   $2400 + Rent
$1201 - $1300   $2600 + Rent
$1301 and up   $2800 + Rent

 For example, if a house rents for $800, you will need to have a monthly income of $2800 to qualify ($800 + $2000 = $2800).

*Additional restrictions may apply for individual houses

Why do we pay a deposit prior to getting a credit check?

We don't charge an application fee.  However there is a cost to us for running someone's credit.  We happily bear that cost as long as the customer is being honest with us and subsequently rents from us.  The $50 we ask you to pay will be refunded to you if you don't qualify for a home, but have been honest on your application.  If you have not been honest on your application, then the $50 will not be returned to you. 


Why can't you bend the rules for customers who don't have enough income or a good enough credit score to qualify for a home?

Our mission is to provide long term affordable homes for families.  In achieving our mission we have to strike a balance between helping customers and making enough income to stay in business.  We have developed our tenant requirements with a lot of grace built into the system.  We treat our customers well and try and work with them through difficulties.  However we have seen the pain families endure when they are in a home and cannot afford to pay the rent and stay.  The trauma of getting evicted is horrible for a family to endure and something we hate to have to do.  Therefore we have studied those factors that give customers a good chance of successfully renting a home.  We therefore insist, without exception, that people must meet the requirements in order to rent a home from us.  Because we are governed by law, we are not allowed to discriminate.  Therefore, once we set a policy, we must treat everyone the same.  

 

Do you allow pets?

Valor Homes does not allow any inside pets. Exceptions to this rule would be fish, gerbils or hamsters. If it is discovered you have a pet there will be a required non-refundable deposit of $350.00 issued that must be paid within 30 days of the issuance. Failure to pay the deposit in full within 30 days will result in an eviction filing for violation of lease.


Why don't you accept Section 8?

Our decision to not accept Section 8 is not based upon the actual tenants but the Section 8 PROCESS. When Valor Homes decided to stop accepting vouchers, there were 23 Section 8 tenants in our properties.  We did not remove the Section 8 tenants from the properties but let them continue to stay until they wanted to leave.  Currently five tenants with Section 8 vouchers still remain in our properties.

Section 8 requirements made it difficult to service ALL our tenants in a fair and respectful manner.     Tenants should be expected to change light bulbs, change air condition filters and not damage the property just because they don’t own it. Yet when a tenant damages the property, landlords are expected to make the repairs at their own expense; no matter whom or how the property was damaged when on Section 8. The constant demands of accepting vouchers did not justify the higher cost and negatively impacted our model of providing long term affordable housing to everyone.