BUSINESS INQUIRIES

TENANTS & LEASING

1.312.847.4414

[email protected]

Leasing FAQ'S

Resources for prospective tenants

LEASING FREQUENTLY ASKED QUESTIONS

CONTENT LINKS

SET UP A SHOWING

BROKERS

REQUIREMENTS

APPLICATION PROCESS

DEPOSITS AND FEES

MOVE IN PROCESS

HELPFUL INFORMATION FOR PROSPECTIVE TENANTS

Setting up a Showing

DO YOU WORK WITH SECTION 8 VOUCHER HOLDERS?

Yes, we do accept section 8 voucher holder participants on all our properties. Bedroom voucher size must cover asking rent once utility stipends are backed out. Utility allowance is taken into consideration so please be aware of what utility the resident is responsible for because this affects the approved rent amount.. Some properties will not pass inspection and this may be noted in the marketing remarks.

HOW DO I SET UP A SHOWING?

Please use this link: to set up a showing or call 312.757.5253 to ShowMojo / live agent, who can set up the showing for them.

WHAT IF A SHOWING TIME ONLINE DOESN'T WORK FOR MY SCHEDULE?

Please call Showmojo live answer at 312.757.5253 to request a different showing time. You may also email leasing@urbanrei.com to request.

WHAT IF I WANT TO TALK TO SOMEBODY ABOUT THE LISTING?

We do experience a high volume of calls daily and we do all we can to connect and answer everyone's questions. For fastest way to answer questions please call 312.757.5253 or email urbanrei.com

WHY CAN’T I SCHEDULE A SHOWING?

Screening criteria may not have been met. Please call Showmojo live answer at 312.757.5253 where they will be able to identify the issue.

WHAT ARE THE SCREENING QUESTIONS ASKED FOR ME TO SCHEDULE A SHOWING?

Before we allow a showing we will ask each potential applicant the following questions:

Will you be looking to move in within the next 30 days and be able to sign a lease in the next 10 days
What is your verifiable monthly income? (2.5x monthly rent - net)
Do you have any pets?
Has a previous landlord ever filed for eviction against you or your co-applicant?
Are you able to provide proof of rent being current to your current landlord?
Is part or all of your income thru SSI, HUD, pension, or any other subsidized funds?
Are you working with a real estate agent outside of Urban REI?

ONCE I HAVE SCHEDULED A SHOWING, WILL I NEED TO CONFIRM?

Yes, you receive a confirmation notification via email or text, if you do not confirm the first notification then a 2nd notice will be sent. If that is not confirmed, a cancellation notice will be sent. If the showing is canceled, an agent will not be sent to the property to conduct the showing.

WHAT HAPPENS IF I NEED TO CANCEL MY SHOWING APPOINTMENT?

You can cancel your appointment using the original link sent to you by Showmojo at any time.

WHO WILL BE MEETING ME AT THE PROPERTY?

A leasing agent will be onsite to conduct the tour and answer any questions. If you have scheduled a self guided tour, then you will receive an email with access instructions.

WHO IS SHOMOJO?

Showmojo is a 3rd party automation used by Urban REI as a tool for scheduling showings.

DO YOU COOPERATE WITH OTHER REAL ESTATE BROKERS?

Our rental rates are reviewed and based on market comparables. We monitor the rental market data daily to ensure we are offering the property at fair market value.

Working With Cooperating Brokers

DO YOU COOPERATE WITH OTHER REAL ESTATE BROKERS?

Yes, as realtors we are always willing to work with other realtors.

I AM A REALTOR AND HAVE A CLIENT THAT WANTS TO VIEW ONE OF YOUR RENTALS. HOW DO I SCHEDULE A SHOWING IF I DO NOT SEE IT ON THE MLS?

Please provide your name, MLS ID# along with the best contact number and we will have the agent get back to you with access instructions.

Application Requirements

WHAT ARE THE MINIMUM REQUIREMENTS TO BE APPROVED?

We use a scoring matrix for every applicant that takes numerous factors into consideration. These are our minimum requirements, however, our screening is not limited to only these items.

Everyone over the age of 18 must pay the application fee and go through the approval process. Applicants that are dependants or in school may not be considered in the requirements but various villages and HOAs require us to have the correct information on everyone over the age of 18.

Net income must be at least 2.5x the monthly rent. Net income is after any taxes, child support, 401k withdrawals are taken from your income and overtime will be removed from the calculation. Self-employed applicants will be required to submit last two years' tax returns.

A minimum credit score of 550 is required to be considered.

Past due balances must be less than $10,000

IS THERE AN APPLICATION FEE CHARGED AND HOW MUCH?

Application fees are listed in the marketing of the property and are $60.00 unless otherwise stated in the marketing. All submitted applications are processed and therefore application fees are non-refundable.

IF I HAVE FILED BANKRUPTCY CAN I STILL BE APPROVED?

The bankruptcy must be dismissed to be considered; additional funds may be set as a requirement if approved. If the bankruptcy is active, the application would be automatically denied.

WILL I BE REQUIRED TO CARRY RENTERS INSURANCE?

Yes, and you may use any provider of your choice so long as Urban REI is named as an additional insured.

WHAT SPECIFIC TERMS AND CONDITIONS ARE REQUIRED FOR MY RENTERS INSURANCE POLICY?

Proof of renter's insurance with personal liability coverage of no less than $50,000 with Urban REI listed as additional insured prior to moving into the home. Dog bite liability is required for any homes with a dog.

ARE THERE ANY DIFFERENT REQUIREMENTS FOR A SECTION 8 SUBSIDY APPLICATION?

Just one, we will request your “rent burden” sheet and any subsidy required documents.

Application Process

HOW DO I GET THE APPLICATION SO I CAN APPLY?

You can visit our website under available rentals and click on “Apply Here”. Locate the property you would like to apply for and click on “Apply Now” in the bottom right hand corner of the listing.

WHAT IF I CANNOT LOCATE THE PROPERTY I WANT TO APPLY FOR?

This may mean the property has received an approved application or the property has been removed from the market. To confirm please call 312.757.5253 or email [email protected]

CAN YOU HOLD A PLACE BEFORE I APPLY?

You must have an approved application and then a property is taken off the market once an applicant has been approved and all required funds have been paid.

WHO IS REQUIRED TO APPLY?

Anyone over the age of 18 must pay the application fee and go through the approval process. Applicants that are dependants or in school may not be considered in the requirements but various villages and HOAs require us to have the correct information on everyone over the age of 18.

CAN I APPLY FOR A HOME WITHOUT SEEING IT IN PERSON?

We understand people are not local at the time they need to find housing and Urban REI will work with you but you must either view a video, send someone in your place to view or sign off on the lease sight unseen.

WHO NEEDS A COSIGNER?

Applicants whose combined gross income is not at least three (3) times the monthly rent amount or do not meet minimum credit scoring. A cosigner may also be suggested if another term is not able to be met in the qualification process.

WHAT DOES MY COSIGNER NEED TO DO TO QUALIFY ME?

A cosigner has the following requirements:

Can be a relative, legal guardian, or any qualified individual.
Credit score must be 620 or greater.
Net income must equal 5x the monthly rent amount. 3 most recent pay stubs required.
A minimum of 6 months at current employment or within the same industry is required.
Can not have any past due balances.
Must have positive rental or mortgage history within the last 6-24 months.
Co-signer application must be completed and signed; Guarantee of lease form must be signed. A separate application fee is required.

HOW LONG DOES IT TAKE TO KNOW IF I WAS APPROVED?

Applications will be processed within 3 business days, applications that are completed 100% without request of additional documents may be subject to quicker processing. If we are missing any required documents or information we will send you an email or text so please be on the lookout for any additional requests we have to keep the process moving. If any questions on your application please call 312.757.5253 or email [email protected]

IS MY APPLICATION FEE REFUNDABLE IF I’M NOT APPROVED?

All submitted applications are processed and therefore application fees are non-refundable.

I AM A CURRENT RESIDENT THAT IS LOOKING TO MOVE INTO ANOTHER PROPERTY THAT URBAN REI HAS LISTED?

You will need to reach out to your property manager to see if you qualify to apply for another unit. If you do, you can visit our website to submit an application. All current residents will follow the same guidelines as any residential prospect applying.

HOW DO I KNOW IF I QUALIFY, AS A CURRENT URBAN REI RESIDENT, TO APPLY FOR ANOTHER PROPERTY LISTED BY URBAN REI?

You will have to be current on rental payments and your lease end date must be within 30 days (you may not terminate lease to move to another unit)

Deposits, Non Refundable Fees, & Surety Bonds

IS MY DEPOSIT REFUNDABLE?

Based on the term of your lease a deposit may be required and will be refundable if the tenants terms of the lease are fulfilled both financially and condition of the unit. Surety Bond costs and non-refundable move-in fees are not refundable.

WHAT IS A SURETY BOND? (FOR CITY OF CHICAGO PROPERTIES ONLY)

FlexDeposit gives you the freedom and flexibility to move into your apartment with more money in your pocket. Instead of paying a full security deposit, you can choose to buy the FlexDeposit bond(cost is non-refundable) for a fraction of the cost. With a traditional deposit, your hard-earned dollars sit with your landlord. Instead, you can buy a FlexDeposit bond for much less. That means you can use your money to pay off credit card debt; or take a vacation or even spruce up your furniture.

HOW DOES A SURETY BOND WORK? (FOR CITY OF CHICAGO PROPERTIES ONLY)

FlexDeposit is based on a simple concept: Instead of requiring a security deposit, the landlord can offer residents the option to pay a one-time, non-refundable payment for enrollment in the surety bond program. If you meet your financial and contractual obligations at the end of the lease (i.e., pay the rent and maintain the leased property) you are under no further obligation to FlexDeposit. If you do not meet your lease obligations, you are required to pay the landlord for any unpaid rent or damage to the community. If you do not make good on this bad debt; the community can file a claim against the FlexDeposit bond. You will then be obligated to pay the debt to FlexDeposit.

Approval & Move In Process

IF APPROVED AND REQUIRED TO PAY LAST MONTH'S RENT WHEN DOES THAT GET PAID?

HOW DO I PAY MY REQUIRED MOVE IN FEES LIKE FIRST MONTHS RENT, ADMIN FEES, OR DEPOSITS?

These are due within 24 hours of signing the lease and once approved instructions will be sent to you. We have a Zelle/Quickpay option or funds may be deposited at any Chase Bank location. Please note for some reason Bank Of America customers using Zelle have technical issues sending us funds so you may consider an alternative way to submit funds until this is figured out.

If depositing at a local Chase Bank branch, please use the memo line to advise the property address and send an email to [email protected] once the deposit is made. Please note Chase Bank Branches will take cash but the following two items will be required:

The teller will need to see your valid State ID/Driver's licenseYou must write your name on the bottom right hand corner of the deposit slip.

The teller will need to see your valid State ID/Driver's license
You must write your name on the bottom right hand corner of the deposit slip.

HOW DO I GET MY KEYS TO THE PROPERTY?

On the day of your lease start date, you will be given a code to a lock box that has been set up at the property to retrieve your keys. Access will only be given if all move-in requirements have been fulfilled.

WHAT ARE THE MOVE-IN REQUIREMENTS?

In order for Urban REI to provide keys for move in the following items must be provided in advance of move in.

Move in funds - Payable to Urban REI via certified funds using Zelle, Quick Pay, or deposited at any Chase Bank Branch. No Funds will be accepted in the office.
Assurant Flex Deposit Bond - If applicable, bond must be paid, downloaded and uploaded to move in file (For city of Chicago properties only)
HOA Required fees - If applicable, paid to advised recipient
Utilities - All utilities responsible by the resident per the lease must be placed in the resident's name prior to move in and the utility company account numbers provided. This includes gas, electricity, water, and garbage. Unless otherwise advised, you are responsible for the payment of all internet/wi-fi/cable installation and monthly charges.
Renters insurance policy - Residents will provide proof of renter's insurance with personal liability coverage no less than $50,000 with Urban REI listed as additional insured prior to moving into the home with the following as an additional insured. Dog bite liability is required for any homes with a dog.