Application Requirements & Approval Criteria

Copper Key Realty & Management

Thank you for your interest in renting with Copper Key Realty & Management (CKRM). Please carefully review the following qualification standards prior to submitting an application.

Credit Requirements

• 650+ Credit Score – Eligible for full approval.
• 600–649 Credit Score – May be eligible for conditional approval with a double security deposit. Approval is at CKRM’s discretion based on the full credit report.
• 599 or below – Automatic denial.

CKRM reserves the right to approve, conditionally approve, or deny any application based on overall credit findings.

Income Requirements

Applicants must demonstrate net income equal to three (3) times the monthly rent (after taxes and deductions).

Important:

• Only income from applicants who meet credit requirements will be counted.
• Undocumented income, overtime, and bonuses are not included.
• Income verification is subject to final review and approval by CKRM.

Income Calculation Example

If Applicants A and B apply for a home renting at $1,000/month:

• Applicant A earns $2,000/month and has a 650 credit score.
• Applicant B earns $1,000/month but has a 550 credit score.

Because Applicant B does not meet the credit requirement, their income will not be counted. Applicant A alone does not meet the required $3,000/month income threshold. The application would not qualify.

Applicants would only be eligible to rent a property equal to the qualifying applicant’s income divided by three.

Income Verification Requirements

Applicants must provide:

• Three (3) most recent pay stubs
• Completion of bank account verification through AppFolio (includes linking an account to verify recurring deposits)
• Independent contractors must submit the most recent year’s tax return

The following are NOT accepted as income verification:

• 1099s
• Bank statements
• Similar financial documents

Offer letters may be accepted at CKRM’s discretion.
Child support will only be considered with court documentation.

If an applicant owns a home, a current mortgage statement is required. The mortgage payment will be deducted from net income for qualification purposes.

Employment Requirements

• Employment must be secured in Tennessee or within a commutable distance.
• Out-of-state income will not be considered unless the position is fully remote.
• Written documentation verifying remote employment is required.

Co-Signer Policy

• CKRM does not allow co-signers to offset credit deficiencies.
• Co-signers are permitted only if an applicant does not meet income requirements.

If a co-signer is used and will not occupy the property, the co-signer must:

• Earn three (3) times the monthly rent plus their own rent or mortgage payment
• Reside in Tennessee (no out-of-state co-signers accepted)
• Provide a lease or mortgage statement

An additional $500 security deposit is required when using a co-signer.

Rental & Credit History Requirements

• Any bankruptcy must show at least one (1) year of positive credit history after discharge.
• No outstanding balances owed to a prior landlord (or balances paid within the last five years).
• No landlord-related judgments within the last five years.
• Three (3) years of residential history is required.
• Inaccurate or misleading information may result in denial.

Criminal Background Screening

The following may result in denial:

• Any felony conviction, guilty plea, or no contest plea for crimes including but not limited to:
  • Serious injury
  • Kidnapping
  • Death
  • Arson
  • Rape
  • Sex crimes
  • Extensive property damage
• Any misdemeanor conviction, guilty plea, or no contest plea including but not limited to:
  • Assault
  • Intimidation
  • Property damage
  • Weapons charges
  • Sex-related offenses
• Any Class B or C misdemeanor conviction within the last five (5) years involving:
  • Criminal trespass
  • Theft
  • Fraud
  • Dishonesty
  • Prostitution

Pending charges or outstanding warrants will result in suspension of the application process until resolved. No property will be held during this time.

Application Group Policy

All applicants within an application group are evaluated collectively. If any applicant is denied, CKRM reserves the right to deny the entire application group.

Special Stipulations

• No more than three (3) unrelated persons may reside in a property.
• If denied due to a pet, the application cannot be modified to meet pet requirements.
• Current CKRM tenants transferring to another property must reapply and pass inspection of their current residence.

Required Documents

• Government-issued photo ID for all occupants 18+
• Proof of income (pay stubs, LES, or tax returns as applicable)
• Proof of remote employment (if applicable)

Applications are considered incomplete until all required documents are received. Incomplete applications will not hold a place in line.

Occupancy Timeline

For security, maintenance, and insurance purposes:

• Tenants must take occupancy within 14 days of the lease start date.
• CKRM reserves the right to deny applications based on relocation timelines.
• Extensions may be granted only with prior written approval, signed amendment, and payment of applicable fees.

Fees & Lease Execution

• $50 application fee per applicant (18+)
• $250 one-time administrative fee due at lease signing (in addition to security deposit)

The administrative fee covers:

• Lease preparation
• Online portal access
• Online rent payments
• Maintenance request system

Once approved:

• Lease must be signed within 24 hours
• Security deposit and admin fee must be paid within an additional 24 hours

Pet Policy

• Pets must be at least 12 months old.
• Maximum of two (2) pets per property.
• Pets may be denied at CKRM or owner discretion.
• Current landlord reporting unlisted pets may result in denial.

Restricted breeds may be considered and are subject to:

• $350 non-refundable pet fee per pet
• $50/month pet rent per pet

Standard Pet Fees

• $250 non-refundable pet fee per pet
• Monthly pet admin fees:
  • Dogs: $30/month
  • Cats: $35/month
  • Restricted Breeds: $50/month

CKRM utilizes a third-party animal screening service (OurPetPolicy). All applicants, whether they have pets or not, must complete an animal profile.

Applicants can access the OurPetPolicy platform via the following link:

https://scan.ourpetpolicy.com/lease-packet/E8ITPI

Applicants with animals must upload current rabies vaccination records.
Emotional support animals and service animals must also be verified through this platform.

Applications are not complete until all required animal profiles are submitted and approved. There is no charge to complete a pet or no-pet profile.

Conduct Policy

CKRM maintains a zero-tolerance policy for vulgar, abusive, or threatening behavior. Applications may be denied at any stage due to inappropriate conduct.

Office Contact

Due to high application volume, applicants are encouraged to contact the office prior to applying.

Office Phone: 931-245-8950

Applicants are strongly encouraged to carefully review the full lease agreement and any applicable addenda (including lead-based paint disclosures) prior to signing.