Valco Homes

Rental Criteria

1. Move-in date

  • Lease needs to start 21 days from acceptance

2. Income

  • Gross monthly income must be three (3) times the amount of the monthly rent. Occupants' income may be combined to meet the requirement. If employment income does not meet the criteria, documentation of other supplemental income must be provided (i.e. savings, stocks/bonds, social security, trust fund income, educational grants, etc.) Need to Supply Seasoned and/or Sourced Documentation of Supplemental Income with Application.

  • Employment must be current and verifiable

  • Other verifiable income equaling three times monthly rent

  • Verifiable income includes as confirmed by employer, trust officer, tax returns, or other satisfactory documentation as required

  • In a Roommate situation, the three times Income requirement can be split among the Roommates

3. Credit

  • A credit report will be processed on each applicant

  • No credit history will be counted as good credit

  • Bankruptcy: Chapter 7 must be Discharged with a date over 30 days from Application. Applicant to supply a copy of Discharge Letter with Application.

  • Bankruptcy: Chapter 13 must have an Order Date from the Court with a date of One (1) Year from Application.

  • Medical, Dental and Student loans will not be taken into account

4. Criminal History

  • Applicants that are registered sex offenders will be denied. 

  • Applicants must have no felony convictions less than 10 years old that involve violent crimes against persons or property, including but not limited to murder, arson, kidnapping, assault, bomb related offenses, robbery or burglary, terrorism OR that involve the manufacturing or distribution of drugs in any manner

  • All other felony convictions must be more than 5 years old

  • Conviction of any drug related offenses involving possession only, or alcohol related offenses where no one was permanently injured or killed, must be at least 2 years old

  • Successful completion of any felony sentence at least 2 years ago and no new criminal activity for at least 2 years before this application is also required

  • No Applicant with any outstanding warrants or crime that is awaiting trial will be accepted

  • If the Applicant would like management to review additional information regarding the felony conviction or the current arrest or warrant as part of their rental application, the Applicant is permitted to submit that information to management along with their application and Management will review that information on a case by case basis

5. Rental History

  • Rental history will be verified for each applicant

  • No more than (2) late Rent payments in a 12-month period

  • No more than one (1) NSF Rent Payment in a 12-month period

  • No non-compliance issues that resulted in non-renewal or eviction

6. Pet Qualifications & Rules

  • Large breed animals are classified as over 30lbs. Small breed animals are defined as 30lbs and under

  • Female cats must be fixed

  • NO MALE CATS

  • Certain breeds of dogs must be approved by the Owner and carry an extra liability policy naming the owner and Valco Homes as added insured parties. These breeds include, but are not limited to: Pit Bull, German Shepherd, Rottweiler, Doberman and Chow.

  • CRITERIA DO NOT APPLY TO ANY ASSISTIVE ANIMALS. (Documentation Required)

Tenants shall ensure that all pet(s) are well behaved and shall not allow the pet(s) to disturb any other residents or neighbors. Tenant to ensure the pet(s) cause no damage to the property. Tenant agrees the pet(s) shall only be walked on a leash and only in areas so designated by the Owner/Landlord and the homeowners association. 

Tenant will be responsible for any and all damages caused by the pet(s) on the property or in the community and will indemnify and hold harmless Owner/Landlord/Management for, from and against any and all claims arising because of the pet(s). 

Tenant agrees that the pet(s) will be licensed in accordance with all applicable governmental provisions. Owner/Landlord and/or Management reserve the right to require Tenant to immediately remove the pet(s) at any time upon any violation of Tenant of these rules.

7. Applicants will be denied for the following reasons:

  • Prior or pending eviction

  • Outstanding Monies owed to an apartment community or landlord

  • Pending Chapter 7 Bankruptcy/Non Discharged/Discharged less than 30 Days from Application

  • Pending Chapter 13/Non Ordered Date less than 1 Year from Application

  • Not Meeting Criminal History Requirements as Described above

  • Falsifying information on application

If an applicant fails to meet any of the above six (6) criteria, he/she may be asked to pay additional security deposit up to, but not exceeding 1 1/2 times the rent or given the option of obtaining a co-signer. If the applicant fails to meet two of the six criteria, applicant will be required to pay full 1 1/2 times the month rent in security deposit AND have a co-signer. Co-Signer Must Apply and Meet Rental Qualifications. 

Application Instructions

A rental application must be signed and processed on all prospective occupants 18 years of age or older. All prospective occupants will be qualified on the following four (4) criteria; 1) Income/employment 2) Credit 3) Rental history and 4) Criminal history. 

  • All applicants must be 18 years of age or older.

  • All occupants 18 years of age or older must completely fill out & sign a rental application and meet our qualifying criteria. Leave No Blanks, any Blanks will result in Application being denied

  • ID Copy and Income Documents must be scanned to lou@valcohomes.com or faxed to our secure server at (602) 314-3349

Please allow 2 business days to process the apps. Calling/emailing prior to the two business days will not speed up the process. 

Questions or for alternative Application submission methods please email: lou@valcohomes.com

Equal Opportunity Housing

Valco Homes does not and will not discriminate against any person based on race, color, religion, sex, handicap, familial status, national origin, or sexual orientation