Prospective Tenant Info

• Please be advised that there is a $40 NON REFUNDABLE application fee per adult and all people over the age of 18 residing at the home must apply and be listed on the Rental Agreement.

• As part of the application process, we will examine credit, income, conduct a background check, and check with current and prior landlord rental references.   

Minimum Requirements for Application Approval

• Debt to Income ratio must be below 50%. Debt to income is calculated by adding the monthly rent amount plus any monthly payments that appear on the credit report (monthly car payments + monthly credit card payments + monthly student loan payments, etc.) and dividing this total amount by gross monthly income (before tax income.)  This ratio must be below 50%.

• No judgments, collections, or evictions from prior landlords.

• Minimum of 1 year of strong, verifiable rental history with verification obtained directly from prior or current landlords.  12 months of cancelled checks or alternative acceptable documentation will be required when family member is listed as landlord.

• All applicants must have a minimum credit score of 550.

• Self-employed applicants must be self-employed for a minimum of 2 years with proof of income (bank statements, w2’s, paystubs if applicable, or tax returns, etc.)  If NSF charges or negative balances are shown on bank statements, this is automatic grounds for application denial.

• Cannot currently be going thru bankruptcy proceedings (bankruptcy must be discharged.)

• No felony convictions or admission to guilt of a felony within 7 years of application date.

• Any sentencing for a felony conviction or admission of guilt must have been completed a minmum of 7 years prior to the application date.

• Prior conviction or the admission of guilt for the illegal manufacture or distribution of a controlled substance shall be grounds for application denial.

• No registered sex offenders will be approved.

Pet Policy

• We are generally pet friendly (with some exceptions per property.) We generally accept domesticated household pets and charge $25 per month in pet rent per pet, up to 2 pets.  Additional pets may be accepted on a case by case basis.

• We do have some aggressive breed restrictions in reference to dogs (No Pit Bulls, Rottweilers, Dobermans, etc.) Please check with us to see if your dog may be on the aggressive breed list prior to applying as this may be grounds for application denial.

Lease Terms

• Our properties under management generally require a minimum of a one year rental agreement, unless indicated otherwise.

• We require the equivalent of one month’s rent be paid at or prior to move in as a security deposit.

• Tenant is required to pay all utilities which include gas, electric, water, sewer trash, and any internet/satellite/television/telecom services.

Rent Payments

• Rent is due on a monthly basis and is due on the 1^st of the month. Payments received after the 3^rd day of the month may be subject to late fees.

• At time of tenant move in, all funds due must be paid in the form of money orders or a cashier’s check made out to “Red Rock Realty.”

• Subsequent rent payments after your initial move in payment may be paid via personal check, money orders, cashier’s check, RentMoney, or online via the Tenant Portal on our website, redrocknm.com, via ACH or Credit Card. ACH payments are charged a $1.50 processing fee and credit card payments are charged a $38.00 processing fee.  Any money orders, checks, or cashier’s checks should be made payable to “Red Rock Realty.” 

• If mailing a payment, please do not mail cash, money orders, or cashier’s checks. Checks should be made out to “Red Rock Realty” and mailed to our office at 2345 Southern Blvd.  Suite B-4.  Rio Rancho, NM 87124.

• Returned and/or NSF payments are subject to a $50 NSF/Returned Payment fee.

• Any tenant whose payment is returned by their bank may be required to pay any and all future payments with money orders or a cashier’s check.