BASIC PROPERTY CRITERIA
- Single family home or fee-simple townhome
- Located in an approved community
- List price between $100,000 and $450,000
- Minimum of two above-grade bedrooms on a lot of two acres or less
- Traditional sale or FSBO
APPROVED COMMUNITIES BY HIGH SCHOOL
Please note: Only homes which are located within the approved communities list will be considered for purchase. The focus is on resident affordability and increasing the likelihood of a resident’s success in purchasing the home if they choose to do so. Criteria is adjusted from time to time in response to market conditions, including home price appreciation forecasts, mortgage affordability, population density, and more.
Our community outlines are defined by the boundaries of approved high schools. These areas are not based solely on scholastic rankings.
View APPROVED COMMUNITIES by High School to see available areas to rent a home.
PROPERTY QUALIFICATION CRITERIA
The list below details the qualification criteria so agents and residents may better identify if a home is a good fit for the program. We believe quality homes in affordable communities increase residents’ likelihood of success. The program also considers a home’s potential for leasing and resale in the event a resident moves out. Please review the objectives before visiting a home. It will save you time too!
LOCATION
- Properties must be located in an approved community.
- Homes must not be located within close proximity to commercial, industrial, mining, or agricultural areas, high traffic roads, active railroad tracks, or airport flight paths.
- Homes not be located near structures that could impair value (e.g. high-tension power lines, cell/water towers).
- Homes within a 100-year flood zone do not qualify.
- Homes must be located on paved roads.
- Homes may not be located in subdivisions or new construction phases that are less than 50% complete.
- Properties located in counties or municipalities that require a rental inspection may have delayed move-in dates of thirty days or more after the closing date. Check with the local county and municipality to confirm their rental license requirements.
PROPERTY TYPE
- No short sales, foreclosure or probate properties, bank-owned properties, or any property sold at auction or by a government agency allowed
- Home sellers must be willing to use the standard state contract and not require addenda aside from a builder warranty.
- Relocation deals may be considered on a case-by-case basis due to their protracted closing process and their contract addenda.
- No condominiums, or other homes under condominium ownership allowed.
- No commercial, modular homes, log cabins, mixed-use, manufactured housing properties allowed.
- The property must be on two acres or less. Please be aware that maintenance of all landscaping is the resident’s responsibility.
- No homes with 7 or more bedrooms allowed.
HOME CONDITION
- Homes must be in good cosmetic and structural condition.
- Homes must be no more than 100 years old.
- Homes must be no more than 30 years old if they are in their original condition or have obsolete floor plans.
- Homes may not have converted garages.
- Homes must have updated plumbing and electrical (e.g. no polybutylene or galvanized plumbing, aluminum branch wiring, cloth wiring).
- All new construction homes must be 100% completed prior to submittal.
- Homes with incomplete rehab projects, or structures on the premises that are in disrepair will not be allowed.
- Homes with liens, open permits, or un-permitted rehab will not be considered
- Homes with a door on an upper level must have a balcony, deck, or staircase built on the exterior
- Homes must have central air conditioning.
- Homes must not have any environmental hazards (e.g. mold, peeling or flaking lead-based paint, vermiculite insulation, asbestos, etc.).
- Homes with seepage or subject to flooding will not be considered.
- Homes with a history of sinkholes or near sinkholes will not be considered, even if the sinkhole has a repair certification.
- Homes must have a structurally sound foundation. All structural issues must be remedied and resulting collateral damage repaired.
- Homes with dirt driveways will not be considered.
- No homes with sunrooms constructed with glass ceilings allowed.
- Homes with synthetic stucco facades will be considered on a case-by-case basis.
OTHER PROPERTY DISQUALIFIERS
- No homes with solar panels that are leased or not fully owned.
- No homes with propane tanks as the primary heating source.
- No homes with guesthouses or “in-law suites” in a separate building (e.g. above a detached garage or in a pool house with separate access).
- No homes with above ground or vinyl pools
- No homes with in-ground pools.
- No homes with indoor pools or large exercise spas.
- Properties with tax rates greater than 4% of the property value will not be considered.
- Homes must be vacant and empty of all seller’s personal belongings prior to closing. No furnished homes or negotiating of personal property aside from standard appliances will be considered.
HOMEOWNER ASSOCIATIONS (HOA’S)
- Homes must be located in HOA’s that allow leasing without requirements for background/credit checks or interviews. No purchases can be made in HOA’s that assume third-party beneficiary rights including the right to evict without notice.
- No purchases will be made in age-restricted communities or in HOA’s that require a social, tennis, golf, or country club membership.
- Total annual HOA dues must not exceed 1% of the list price. HOA transfer fees and capital contributions must be reasonable and are considered on a case-by-case basis.
- The following HOA conditions will disqualify a property from consideration: Minimum period of owner occupancy, maximum rental period, board approval of the lease post-closing, board requirement to be a third party beneficiary of the lease documents or the right to evict the tenant, rental caps (exceptions are considered on a case-by-case basis).
- When submitting an HOA property the following HOA documents will be reviewed as due diligence: Budget, certificate of insurance, covenants/conditions/restrictions (CCR’s), bylaws, rules/regulations (if applicable), an HOA questionnaire
PROPERTY MOVE-IN EXPECTATIONS
Below you’ll find policies relating to standards for move-in day. A safe and functional move-in will be provided. If there are any safety standards not met, they will be identified during the inspection and sent to a contractor to complete necessary repairs prior to the move-in date. Any additional quality improvements such as paint must be specifically requested by the household through a renovation checklist and then approved before an offer is made to the seller. After that point no modifications will be accepted to the renovation scope. Exceptions include items applicable by law or specifically agreed to in writing as “Landlord Work” under the lease.
INCLUDED ITEMS
- All windows and exterior door locks are in good condition
- Roof and foundation are in good condition
- All handrails and post are secure/install handrails on stairways for safety
- Garage door functions properly and includes garage door openers (if applicable)
- No electrical issues at breaker panels
- Functioning light bulbs in all fixtures
- All kitchen appliances function properly. No appliances that are in working condition will be replaced.
- Sinks, toilets, and appliances are not leaking/do not need repair
- Furnace, AC, and hot water tank are operational
- Well/septic systems function properly (if applicable)
- Sump pump functions properly
- Smoke detectors, CO detectors, and fire extinguishers are installed as required by code
- Fireplace and flue are clean and functioning
- Basic cleaning (broom swept)
- Please keep in mind that the above move-in items are the expectation for move-in day, and future maintenance may fall under the resident’s responsibility (i.e. future replacement of light bulbs)
NOT INCLUDED ITEMS
- Painting (indoor or outdoor, including trim and ceilings, unless agreed to)
- Replacement of carpeting (unless agreed to)
- Replacement of appliances
- Installation, replacement or repair of washers and dryers or specialty appliances, such as wine refrigerator, “kegerator”, central vacuum systems, intercoms, built-in music/video systems, outdoor grill, ice makers (including as part of a refrigerator)
- New hook-ups for appliances
- New fences or refurbishment of existing fences, unless required by applicable law. If a resident would like to install a fence, they must follow these guidelines:
- Work with Pathlight Property Management to get approval
- Provide a proposal from a reputable fence company showing material and labor costs, proposed location, and fencing type
- If approved, it is the resident’s responsibility to obtain and provide proof of permits and HOA approval (if needed)
- The resident(s) will be responsible for cost and coordination of fence, and any repairs or maintenance of the fence once it is installed
- Repair or replacement of hot tubs
- Installation/replacement of water softeners and water filtration systems (exceptions may apply to homes on wells)
- Repair or replacement of irrigation systems, fountains, koi ponds, fish stock, or the equipment related thereto
- Window blinds/window treatments, whether now existing or hereafter installed
- Any renovations or cleaning to the home if you are currently the tenant residing in and submitting the property for consideration
RENOVATION POLICY
RENOVATION REQUESTS: The Renovation Checklist will be sent to the agent after property submittal and should only be completed by the prospective resident to request paint, carpet, or appliances. Renovation costs will be added to the Right to Purchase price. Any renovations beyond the included items listed above must be specifically requested by the prospective resident and approved before an offer is made to the seller. Any resident request has the right to be denied. No appliances will be replaced if in working condition. Approved renovations will be identified in the lease as “landlord Work”.
- PAINT: New paint is not provided as standard. New paint will not be applied if the existing paint is in good condition. Paint is only applied in neutral beige or grey colors and only one paint color can be accommodated. Resident will have the option to request paint for the entire interior or specify certain rooms.
- CARPETING: Carpet that is in reasonably good condition will not be replaced. Carpet is only installed in a neutral color. Resident will have the option to request carpet for the entire interior or specify certain rooms.
- KITCHEN OVEN/RANGE: If the home does not currently have an oven/range or it is not in working condition, the resident can request that a new oven/range be installed at an approximate cost of $700 added to the Right to Purchase Price.
- REFRIGERATOR: The resident will have the option to bring their own refrigerator. If the resident is not planning to bring a refrigerator, they can choose one of the following options:
- They can request that the seller leaves the refrigerator currently in the home.
- If the seller decides to take the refrigerator, the resident can request that a new one be provided*.
- If the home does not have a refrigerator, the resident can request that a new one be provided*.
- *All attempts will be made to match the refrigerator to the existing appliance color at an approximate cost of $1,800 added to the Right to Purchase Price. Standard features are: Side by Side, Ice Maker, and Water Filter.
- WASHER/DRYER: The resident will have the option to bring their own washer/dryer. If the home does not have a washer/dryer, the resident can request that the sellers leave the washer/dryer currently in the home. If the seller decides to take the washer/dryer, or if the washer/dryer are not currently in the home, a replacement or maintenance of these items will not be provided at any time.
- PLAYSETS: If the property does have a playset, the resident can request that it be removed. The resident can request to have the seller leave the playset, but if they decline, a replacement will not be provided.
- HOT TUB: If the property has a hot tub, the resident can request that it be removed. The resident can request to have the seller leave the hot tub, but if they decline, a replacement will not be provided. If the hot tub remains on the property, it is solely the resident’s responsibility. The hot tub will NEVER be serviced, maintained, repaired, or replaced by the landlord.
PROPERTY MAINTENANCE EXPECTATIONS
RESIDENT RESPONSIBILITIES
The resident is responsible for any minor repairs that the home may require during the lease terms. For a full list of responsibilities, residents can reference their lease agreement.
OUTSIDE
- Pest control
- Landscaping and fencing
- Irrigation
- Unit cleaning
- Window screens
- Disposal of garbage and recycling
INSIDE
- Replacing light bulbs
- Changing thermostat and smoke detector batteries
- Unclogging toilets, sinks, and other drains
- Doors, blinds, and walls
- Supply/change of furnace and air conditioning filters
- Water filters and softeners
- Ice makers
- Monitoring interior humidity and condensation levels
PETS
Residents should clean the interior and exterior of the home accordingly, as well as keep pets safe by becoming familiar with harmful foods and toxic local plant life. Residents should walk pets on a leash at all times and pick up waste.
LANDLORD RESPONSIBILITIES
Part of living in a happy home, is living in a safe home. Pathlight is responsible for all significant property repairs to lessen the stress on residents.
OUTSIDE
- Roof and exterior wall maintenance
- Foundation and structural repair
- Plumbing and septic issues
- Defective locks/latches
INSIDE
- Major electrical systems
- Heating, cooling, and hot water systems
- Refrigerators, stoves/ovens, and dishwashers
- Persistent water intrusion
Let’s get started! To begin the approval and home selection process contact us by email, or speak to an agent at 913-451-4888. You may also text Lead Agent, Miles Rost: 913-219-0638.
