Frequently Asked Questions:
- What does “Excellent Credit History” mean in your requirements? In order to qualify for a LIDO apartment, applicants need to have at least 5 open current satisfactory accounts, that have been open for 5 years or older (i.e. a credit card that has been open since 2010…). We DO NOT go by credit scores, but rather your history, a revolving balance of at least 50%, and on-time payments. No Evictions & Tax Liens can show up on your credit report. If you have bankruptcy, it must be from 2008 or later
- Can I submit my application incomplete to get in line for the unit and then email the rest later? No, we only process applications that are 100% complete. Even if you submitted your application before another applicant, if yours is missing information you will be placed to the back of the line. A complete application means that your proof of income, IDs, application, and fee are all submitted and ready to go.
- Can I hold the unit with a deposit? No, we go by a first-come first-serve basis and do not hold units. We process complete applications in the order they are received.
- I am a College Student and do not meet the LIDO credit requirements, what are my options? A student can rent from us with a guarantor! Simply find a parent, or adult with great credit history and have them send in a full application!
- I am International and do not have a Guarantor or SSN, can I still apply? Yes! While it is not guaranteed, we will accept international applicants with a Double Deposit or a few months rent upfront. Simply submit an application with your request and the owners will review and get back to you!
- How long will it take to process my application? Processing can take up to 3 working business days, but in most cases we are able to approve an applicant in 1 day! The timeframe all depends on how many applicants there are for the unit, and what place in line you are.
- How soon can I Move-In? Each unit has a “Rent Ready” date, you can move in as early as that date, but no later than 2-weeks from when you are approved. You must sign the lease and deposit all money within 24HRS of being approved otherwise we move on to the next applicant.
- Do I Need Renter’s Insurance? Yes, Lido Equities Management Inc now requires all resident(s) to have renter’s insurance. Renter’s Coverage FAQ’s