- Security deposit – paid via certified funds and is due 48 hours after the lease is sent. A security deposit protects the owner for any damages done to the property by the tenant.
- First month’s rent – the first in a series of payments for the use of a rental property. Tenants cannot make an online payment for the first month of rent; there are three ways to arrange this payment. One way is to bring certified funds, such as a money order or cashier’s check, to our office and hand deliver it to us. Another option is to mail those certified funds to us. The last option is to utilize a service called PayNearMe. When opting for the latter suggestion, a tenant will be provided with a code, go to a payment processing business such as 7-Eleven or CVS, and pay for rent there in cash.
- Renters insurance – protects the tenant’s possessions if they’re damaged, vandalized, or stolen while the tenant is renting. The amount that we require is 10,000 personal and 100,000 liability. This is mainly in place to protect the tenant and the belongings.
- RHINO – a program that is in lieu of a traditional deposit. For the tenant – helps renters avoid expensive upfront costs. When they sign up they can satisfy a big deposit amount with a small monthly payment for the duration of the lease. RHINO does protect personal property, unlike renters insurance will. It also protects owners from damages and unpaid rents.
Our applications team will let you know if any of these items are required of you before access to the property can be granted. We are unable to provide approved applicants with a lockbox code until these items are appropriately received in the office.
For additional information about these items, please contact our applications team by emailing Applications@OmniKeyTexas.com or by calling (972)480-8280 ext. 13.