Leasing Requirements for Existing Residents

In order to be considered for a new lease at a different unit or property managed by Propsect Leasing & Management, Resident must do the following:

  • Complete entire initial lease term (one year minimum).
  • Have on-time payment history – No late payments in prior 6 months and no more than 1 late payment in prior 12 months.
  • Meet income requirements of for new unit – Provide to our office a current paystub and/or other source(s) of income for verification.
  • Pass a unit inspection for damages, cleanliness, infestations, etc.


Important Notes:

  • Resident will be responsible for the full amount of security deposit for new unit.  Any difference between new deposit amount and current deposit amount must be paid when the new lease is signed. The remainder of the security deposit will be transferred after move-out less any deductions for cleaning, carpet cleaning, damages, utilities and other balances due.  Resident is responsible to immediately pay any shortage in deposit due to move-out deductions.
  • Resident will be responsible for rent in current unit up to when keys are returned to our office (Lease end date)
  • Resident will be responsible for rent in new unit from day keys are picked up from our office (Lease start date)