Leasing Procedures

  • Application & Deposit Procedures

    There is a $35.00 fee per application (can be paid online or in person if paper application is used)

    An application alone will not reserve an apartment.

    Applications will not be reviewed until a security deposit is placed on the apartment.

    An apartment will not be reserved until a security deposit equivalent to one month’s rent is brought into our office.

    A Security Deposit Acceptance Agreement must be signed when the deposit is paid.

    The deposit must be in the form of a certified check, (Cashier’s Check, Money Order, etc.)

    For apartments of two or more residents, all tenant applications, app fees, and the full deposit must be brought in at the same time. If you are required to have a guarantor, all guarantor applications must be in NO LATER THAN 24 hours after putting down the deposit.

    Unless otherwise advertised, the deposit is equivalent to one month’s rent.

    Approval is based on income, credit, and rental history. If applicant is unable to qualify on his/her own, cosigners are welcome.

    If a security deposit is paid and the applicant does not qualify for the apartment, the security deposit will be returned in full.

    If you do not take the apartment and your application has been approved, your security deposit will be forfeited in full unless the apartment is re-rented by the initial lease start date (as indicated on the application and acceptance form). If the apartment is re-rented and the new lease start date is prior to or the same as the initially requested start date, a $100.00 re-lease fee will be charged and the remainder of the deposit will be refunded.

    Approval Criteria

    • FICO Credit score of at least 600
    • No judgments/evictions from past rental companies (A rental verification will be obtained from the most recent Landlord).
    • Rent cannot exceed 30% of the gross monthly income

    *If applicant does not meet the above criteria, a Guarantor is required. The Guarantor MUST be located in the state of Virginia and have a FICO credit score of at least 670. The mortgage or rent for the Guarantor + the applicant’s portion of the rent, cannot exceed 25% of the gross monthly income.

    *If applicant is denied due to a past judgment/eviction the Guarantor MUST be located in Richmond, Virginia and have a FICO credit score of at least 670. The mortgage or rent for the Guarantor + the applicant’s portion of the rent, cannot exceed 25% of the gross monthly income.

    *Consideration for a double deposit will be assessed on a case by a case basis at the discretion of the Landlord*

    Criminal Background Screening

    Metro Properties, Inc. has a responsibility to provide a safe and healthy environment for our residents.

    A criminal background check will be run on all applicants.

    An applicant will be denied (with no exceptions) if they have been convicted of:

    • Violent Offenses against Persons
    • Sexual offenses against Persons

    If an applicant has been convicted of illegal manufacture or distribution of a controlled substance, 7 years must have passed with no related offenses in order for the application to be considered.

    Guarantors

    If an applicant does not qualify for the apartment on their own, it is possible to qualify with a guarantor (one who is willing to guarantee the lease for applicant). Please talk to the rental agent concerning this option.

    Lease Signing

    Once the application has been approved, the lease will be typed. A rental agent will contact the applicant(s) when the lease is ready to be signed.

    Move In Day

    The following conditions must ALL be met before ANY keys are issued:

    1. The lease must be signed by all tenants.
    2. The full first month’s rent must be received.
    3. All *original* Guaranty Agreements, if applicable, must be received in the office.

    * The lease starts at 3:30 PM. Keys will not be distributed any earlier than this time.

    Pets

    Dogs are prohibited.

    Cats are permitted with written approval only. There is a $20.00 pet fee per cat per month. There is no pet deposit required. Lessee must sign a pet addendum before a cat can occupy the apartment. In most cases there is a limit of two cats per apartment.

    Any other type of pet must be approved.


Tenant Forms


Our Location

200 W. Franklin Street
Richmond, VA 23220
TEL (804) 225-8655
FAX (804) 225-8658


© 2017 Metro Properties, 200 W. Franklin StreetRichmond, VA 23220