The application process for rentals at MidcoastHome, Inc.

 

Thank you for your interest in applying for and viewing MidcoastHome properties.  Please call ahead to schedule an appointment to ensure that time is available to see properties that interest you.  Same day appointments are not guaranteed.  If a property is currently occupied, appointments must be scheduled at least 24 hours in advance.

How does the application process work?
Applications are processed on ALL interested parties renting long term rental homes.  Long term can be as long as one month, up to two years.  The application on short term or seasonal rentals is at the discretion of the landlord.  Once your complete application and processing fee are received, it typically takes  48 – 72 hours to process an application, depending on how quickly we are able to reach your supplied contacts and references.

Is there a fee for application processing?
 The application fee is $55 for one primary applicant.  In some cases, a landlord may wish to review applications for all adults occupying a home.  In this case, the fee is $55 per person.

Applicants must be at least 18 years of age.  Children under the age of 18 can be listed as occupants.

What kind of information are you looking for on the application?
While credit and background information are taken into consideration, we try to consider applications as a whole.  In addition to credit in good standing, we are also seeking  verification of income or proof of funds to pay rental obligations, a positive rental history, good credit history and  background checks.   Background checks may include review of local and national courts, eviction records, liens, judgements, bankruptcies, and information that is considered “public knowledge” which may include information found on the internet.

CreditCredit checks are processed on all applicants.  Credit information is considered confidential and is used exclusively for the purposes of rental application processing.   In general, we are looking for an earnest effort in good money and credit management, and reasonable debt to income ratios.  Other factors may be considered when looking at creditworthiness.

Residential Verification/References:   Rental references help us understand your past rental relationships.  We will need your current and past landlord contact information for up to two years.

Pet references: If you are a pet owner, you may be asked to provide items including but not limited to;  current and previous landlord references about your pet/s (questions such as pet behavior and damage), vaccination and vet reports, proof of veterinary regular care.  There may an additional deposit for pet-approved homes, please inquire for details.

Employment or Income Verification We verify employment for applicants if employment is listed on an application.   Other means of verifying income may be requested for other income systems.

You have submitted your application – what happens next?
Applications must be completed in full to be processed, and they will be processed in the order in which they are submitted for a property.   The property owner may or may not request a meeting for introduction.   Property owners have final approval for applicants.

Important information about MidcoastHome limitations of Services

MidcoastHome, Inc. acts as a third party representative to property owners seeking a connection with tenants, and property owners seeking property management services once a tenant is selected.  MidcoastHome, Inc. services are limited to the items described in property owner agreements.     MidcoastHome, Inc. services do not include management of legal disputes between property owners and tenants, coordination of major construction or service work at a rental home,  or the performance of any property-related inspections as required by the State of Maine (radon, lead paint, etc).

FAQs

1) I am interested in a property, but don’t want to go through the application process.
All interested parties must submit an application for long term rentals.  Short term or seasonal applications are at the discretion of the landlord / property owner.

2) I’m only in town today and want to sign a lease today.
Selecting the right property  takes time. Because we have a thorough application process, it simply is not possible to see properties and sign a lease in one day. If you know you are coming to the area and need a rental, you are welcome to submit an application prior to your arrival. Pre-approval can help the process move along smoothly.  Application fees are non refundable, even if a MidcoastHome property is not selected, or a tenant is not approved for rental.

3) I really like this property, but can’t move in for two more months.
Properties are leased on a first received and first approved basis.   Extenuating circumstances will be considered on a case by case basis, and deposits may be required.  If a lease approved for a hold period, limitations may apply.

4) I have income, excellent residential references, but my credit is bad. Can I still rent from MidcoastHome?
Applications are considered individually.  Credit is just one factor.

5) How much is the security deposit?
Security deposits vary depending on length of stay and grade of property.

7) I want to sign a lease today, but I don’t have all of the money. Can I pay my deposit over two months?
All funds are due at the time of lease signing.   This will include security and pet deposits, first month’s rent, and in some cases, last month’s rent depending on the property.  Any variations of this policy are subject to approval by the landlord/ property owner and MidcoastHome, Inc and will be included, in writing, as part of the lease agreement.

8) I need to pay my rent on the 6th of each month.
Rent is always due on the first of each month unless other arrangements are agreed upon in writing.   Not paying rent on time is a breech of your legally binding lease agreement, or month to month rental contract.   Continued late or non payment can result in a termination of lease or rental agreement or late fees applicable by Maine law.

9)  I am a property owner who is dissatisfied with my tenant that MidcoastHome processed.  What do I do?
Please begin by talking to us.  We are happy to assist with problem resolution in an effort to figure out a solution, and review what steps need be taken under Maine law.    If you need to perform an eviction, please seek the advice of your preferred legal professional.