How Does the Process Work?
1. The screening company gathers all of your information including credit history, credit score, employment history, and criminal history.
2. Tandem will take all of the information into consideration and once the decision has been made to…
- Accept, you will be notified and then have the opportunity to pay an earnest money which, in the event a lease is signed, will be used as credit toward the $100 (w/o pet) or $175 (w/pet) administrative fee and security deposit. Paying the earnest money deposit will reserve the property temporarily while scheduling of your lease and drafting are completed.
- Deny, you will be notified and then receive a letter in the mail stating our reason for denying. You can contact the processing company to obtain a copy of your report and challenge the credit bureaus. Any challenges to the credit bureaus will not change our decision.
PLEASE NOTE: IF YOU GIVE EARNEST MONEY TO HOLD THE PROPERTY AND THEN BACK OUT OF SIGNING THE LEASE, THE EARNEST MONEY WILL BE FORFEITED. DO NOT GIVE EARNEST MONEY UNLESS YOU ARE SURE YOU ARE GOING TO SIGN THE LEASE AND MOVE IN. IF THERE ARE OTHER PEOPLE THAT WILL NEED TO SEE AND APPROVE THE PROPERTY BEFORE YOU CAN SIGN THE LEASE, DO NOT GIVE THE EARNEST MONEY UNTIL THEY HAVE APPROVED.
EARNEST MONEY – IF your application is approved, you will be asked to submit earnest money to hold the property and to have Tandem notify other interested parties that the property is being held. A lease will then be sent electronically for signatures. Failure to sign the lease within five (5) calendar days will result in forfeiture of the earnest money as liquidated damages and the property being made available again. If a lease is signed, credit for earnest money will be applied to a $100 (w/o pet) or $175 (w/pet) administrative fee charged by Tandem for account setup and the remainder applied to the security deposit.