F.A.Q.


Frequently Asked Questions

Are your homes difficult to qualify for?
How do I see the inside of the property?
How much do I need to get the property?
Is it possible to hold the property?
Is there an application fee?
How long does it take to get approved?
Do you allow pets?


Are your homes difficult to qualify for?

No! We find that most "good people" qualify for our homes. We even consider Bankruptcies if they are final. At Rainbow Realty Group we understand that people can get into financial trouble and often have "Bad Credit". All we are looking for is "Explainable Credit". Our application process is based on a point system with six separate items we check. They are as follows:

- Amount of Income
- Time On the Job
- Landlord History
- Eviction History
- Credit Report
- Criminal Report

Rainbow Realty Group is committed to improving the quality of living in our neighborhoods. We run extensive criminal arrest checks on all applicants. Our goal is to prevent felony criminals, drug dealers and thieves from moving into our homes and harming our neighborhoods.

When we consider applications, we look very close at the amount of monthly income and time you have worked at your job. However, a good landlord history and or good credit report can help with approving a new person transferring to the area or someone just starting a new job.


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How do I see the inside of the property?

To see the inside of any rental property is simple. Anyone can can take out up to three (3) keys. To see your next home simply:

- visit our office
- show your picture I.D.
- leave a $20.00 key deposit

When you return the keys we will gladly return your $20.00 deposit. 


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How much do I need to get the property?

In order to sign your lease and get the keys, you must pay the entire damage deposit plus the first months rent.


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Is it possible for Rainbow Realty Group to hold the property while processing my application?

Yes, it is possible to hold the property. Remember that good properties rent fast. Many times several customers have keys to the same property at the same time. It is for this reason we recommend you leave a "Hold Deposit" with your application. How much do I leave? Well; some buyers pay the damage deposit, others pay the full amount needed to rent the property.

Don't worry, any money you put down to hold the property will reduce the money needed when you sign your paper work. If your application is not approved your Hold Deposit will be returned to you in full. Just make sure you want the property. If for any reason you fail to take the property on the date requested on your application you could lose your Hold Deposit.


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Is there an application fee?

Yes, As part of our commitment to better neighborhoods, we thoroughly check out each applicant. We pay a private reporting agency for this service. In order to cover our expenses there is a $25.00 non-refundable fee per applicant.


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How long does it take to get approved?

Most of our applications are processed and approved within two (2) business days. Applicants who are moving here from outside of Indiana should plan on five (5) business days to allow  for a out of state criminal report.
 


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Do you allow pets?

Yes, We do allow pets. The costs to have a dog or cat at your property are as follows:

There is a one time $100.00 NON-REFUNDABLE PET FEE PLUS A CHARGE OF $20.00 PER MONTH PER PET. 


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