If the home up are applying for is labeled a Class “C” Property, please visit Qualifying Instructions for Class “C”
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Bella Vegas Homes Realty rents to the first qualified applicant. Completed applications are considered on a first come first serve basis. Incomplete applications will be put back in queue. If your application is not processed, you will receive a refund in 5 business days once the property is no longer available. Each adult resident must submit a separate rental application. All leases are 1 year unless stated on listing.
The $50 application fee is not refundable with exemption stated above. Bella Vegas Homes Realty will verify income, credit history and landlord history. Here is what we look for…
- Documentation: Upload with an application.
b) Most recent three months of full bank statements, not screen shots or summary page.
c) Proof of income as outlined in the next section.
- Income: See income sources below. Income must meet minimum 2.5x rent. Failure to qualify will result in double deposit. Credit score above 720, income requirements are waived, see Section 4. All income is verified by bank statements. Applicants with subsidized rent vouchers please skip and go to Section 3. Not considered: Undocumented income such as tips, cash, under the table, help from friends or family.
a) Employed: A most recent and a three-month old paycheck stub is required and will be verified. Gross average income will be used.
b) Independent Contractors: Contracted professionals receive income from a single source. Bank statements will be used to verify.
c) Self-Employed: Applicant may show income in one of two ways:
i. Most recent prior year filed tax return, filed by an independent certified tax filer. -OR-
ii. Transfers or checks from business banking account to personal banking account.
d) Private Pension, Royalties, Government: Award letters or other proof of award.
e) Alimony, Child Support, Court Ordered: Court filed paperwork showing dedicated payments for a minimum future one year.
- Southern Nevada Housing Authority (SNHA):
a) Applicant must upload the documents; “How to Determine Rent” and “Voucher”. A “Landlord Package” must be in your possession. We do not wait for porting.
b) All vouchers are accepted for ONLY the amount of bedrooms as listed. Larger or smaller amount of rooms will not be accepted.
- Credit: 620 and up qualifies. 720 and up qualifies with no income requirements. Below 620 will double deposit.
a) No bankruptcy within 3 years, score provided by Experian.
b) With multiple applicants, top two highest scores will be averaged
c) If the credit report is locked out, or if applicant enters incorrect information which results in the credit agency not able to access information, applicant will need to re-apply.
d) No credit score is interpreted as a credit score below 620.
e) Foreign applicants or applicants who reside internationally will need to show proof of such.
- Co-signers are allowed in assistance with credit and income issues. If applicant does not qualify for credit and income, deposit will be tripled.
- Residential History: 3 years of verifiable residential history is required. Verifiable means speaking to an owner, a hired property manager, or proof of ownership of residence. Roommates or unlicensed managers are not a verifiable source. Additional verification such as copy of lease or cancelled checks may be required when traditional backgrounds fall short. You will be rejected for any of these reasons:
a) Reports of damage
b) More than 2 late payments or 1 NSF check per most recent 12 months
c) Records showing evictions or money owed to prior landlords within the past 5 years. Covid-19 related evictions are not a reason for rejection.
- Maximum Occupancy of People and Pets: Using HUD guidelines, maximum occupancy of people is 2 persons per bedroom. Maximum pets when pets are allowed are 2 total (dogs, cats, ferrets). Weight restrictions are stated in ad when applicable.
- Acceptance: Move-in dates, and Payment of Deposits: Applicant must take possession within 2 weeks of application date. A deposit equal to one month’s rent is paid when signing, and the balance paid on move in date. All applicants must be present on day of move in with identification.
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