Frequently Asked Questions
FOR PROSPECTIVE RESIDENTS
I want to rent or buy from 40 Oaks. What are your resident qualification requirements?
- Prefer 3x monthly rent in gross income (2.5x considered if all other qualifications met)
- Credit score of 550 or higher, for a lower score we would consider a higher security deposit
- No evictions within the past 5 years
- Will consider the following convictions on a case by case basis: alcohol offenses like DUI if more than 5 years old, marijuana charges at anytime, financial non-violent offenses more than 3 years old, non-violent offenses more than 3 years old
- Will NOT be approved with any of the following convictions: violent crimes/assault, non-marijuana drug possessions, drug trafficking/manufacturing, sexual offenses, weapon offenses
- Bankruptcy must be discharged and we must have a document proving this
- Payments must be current for items in collections (excluding medical bills), especially monies owed to prior landlord(s)/properties
I want to rent a unit with 40 Oaks, but I'm not sure which unit I want. Which unit do I select for screening?
Your application will transfer across units, so you can pick any available unit OR our generic unit is “1234 Application Street.”
I'm interested in multiple units. Do I have to fill out an application for each unit?
No! Your application will transfer across units and is good for up to 30 days.
How long will it take to process my application? How will I be notified of the outcome?
Once an application is submitted, they’re typically processed by the end of the next business day. Sometimes we may need to reach out for more information or documentation. If your application is denied, you will receive an email detailing why. If your application is approved, you will received both an email and a phone call.
How much is the application fee? Can I get a refund if I'm denied?
The application is $40. The fee is paid to a third party screening service and is therefore nonrefundable.
I want to check out a rental unit before I apply. How do I do that?
All of our available rental units are available on our website here, just click the SCHEDULE SHOWING button on the unit to schedule a self-showing at a time that works best for you!
I want to check out a mobile home for sale or "rent-to-own" before I apply. How do I do that?
Since we consistently have a steady stream of potential buyers, priority is always given to approved applicants to ensure we are making the best use of both parties’ time! If you’d like to discuss further, contact our sales team at email@example.com.
How much is the security deposit?
It is 1.5x the monthly rent. You can do a traditional security deposit, paying the full amount up front. Or you can work with Assurant to get what’s called a FlexDeposit. What’s a FlexDeposit? FlexDeposit is a surety bond, which essentially means residents pay Assurant a nonrefundable fee and FlexDeposit pays the property up to the bond limit amount to cover costs related to rental property damage or an unfulfilled lease agreement. If FlexDeposit pays the property, then you pay Assurant back. If not, then you’re good to go — with more cash to spend on fun stuff like getting your new mobile home or apartment squared away just the way you like it.
Do you accept Section 8?
At this time we are not accepting Section 8.
FOR CURRENT RESIDENTS
When is rent due?
Rent is due on the 1st, and it is late after the 5th. On the 6th, a 5% late fee is added to your balance.
How much is the late fee?
Pursuant to § 42-46, the late fee is 5% of the monthly rent.
What is your payment policy?
Rent is due on the 1st, late on the 6th (with a 5% late fee), and if rent is not paid by the 16th the eviction process will begin.
Can I pay part of my rent on the 1st and the rest later in the month?
We do not accept “partial payments.” But we do work with a company called Flex that allows you to split your rent into two payments and pay on your schedule. With Flex, you choose when and how you pay rent. Each month, you pay half of your total rent and finance the other half with a Flex line of credit. You have the flexibility to choose your second payment date to better align with your paycheck. So, you pay half right away, they pay the total amount when rent is due, and you pay Flex back the other half later in the month.
FOR PET/ANIMAL RESIDENTS
Do you allow pets?
We know animals are important to many of you, so we allow most animals (up to 2 per unit) in most of our rental properties. To create the best environment for our animal friends, we use a third-party service, PetScreening, to ensure all tenants understand how to adhere to the pet and animal policies. For renters and residents financing a mobile home, there will be associated pet fees. For those who own their mobile homes, there will be no pet fees.
What is Pet Screening?
PetScreening provides a risk level assessment for each pet and monthly Pet Fees are based upon those risk levels. Pet Screening Profiles are required for every tenant, even if you don’t have a pet. Pet Screenings & Policy Affirmations must be completed at 40Oaks.PetScreening.com.
How much are pet fees?
40 Oaks Properties charges a pet fee each month for each of your pets (up to 2 pets per unit). The term “pet fee” is simply a fee you will pay for the allowance of your pet to occupy the rental unit with you. Regardless of prior consent, we reserve the right to have any pet removed from the property if it is determined that the pet poses a threat to the safety or condition of the property or any people in the property or the community. There is a one-time $150 non-refundable fee per pet, and a recurring monthly fee that can range from $20-$40 per month for your first pet based on their risk assessment, and an additional $5-20 per month for your second pet based on their risk assessment.
What pet rules should I be aware of?
We will not accept any animals living in our communities below the very high standards we have for their safety and well being. For that reason, two severe fines/violations will be strictly enforced:
- If you leave your dog outside (tied up or off leash), you will be fined $500. The second time, you will be evicted.
- If you have any unauthorized/un-screened pets, you will be fined $500. The second time, you will be evicted.
I have a pet but I can't take proper care of it. What should I do?
We work with resources in the community to find homes for pets in need. Please contact us immediately at firstname.lastname@example.org if you do not feel you can give your pets the quality of life they deserve! We will help them find a good home.