305 16th St SE, Roanoke, VA 24013

Offered by PMI Commonwealth

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Availability
The listed available date is the earliest possible move-in date. Properties cannot be made available before this date or held for more than 30 days past it.

Qualification Standards
Credit & Income: Minimum 650 credit score. Gross monthly income must be at least 3x the rent amount (or 3x the tenant’s individual portion for housing voucher recipients).

Applications: One application per resident 18 and over required ($50 application fee per adult). All applications are subject to verification. Processing takes 2–3 business days depending on reference response times.

Security Deposit & Holding Terms
Standard Approval: Deposit equals 1 month’s rent. May be increased up to 2x rent for lower credit or income.
With Pets: Deposit is raised to 1.5x monthly rent.

Holding Policy & Daily Fee: Once approved, the deposit must be paid within 48 hours to hold the property. If an applicant pays the deposit but fails to execute the lease or withdraws, a daily holding fee (prorated daily rent) plus actual administrative costs will be deducted from the deposit before returning any balance within 20 days per Va. Code § 55.1-1203.

Approval, Deposit & Move-In Process
Standard Applicants: Security deposit is due within 48 hours of approval. The official Lease Agreement must be executed within 48 hours of receipt. First month's rent is due prior to move-in.

Housing Voucher Applicants: Upon passing standard screening, applicants receive a Conditional Approval Notice and an unexecuted draft lease. The security deposit (100% tenant responsibility) and completed RTA packet must be submitted within 48 hours. Per Virginia guidelines, housing authority inspections and final approvals must be completed within 15 calendar days of RTA submission. Final lease execution and tenant rent portion payment occur prior to move-in.

Prorated Rent: If the lease begins after the 1st of the month, prorated rent will apply.

Pet Policy & Screening
Pet rent is $25/mo per pet. Security deposit increases to 1.5x monthly rent. Breed and size restrictions may apply per property.

Resident Benefits Package (RBP)
All residents are enrolled in the RBP for $40.95/month, which includes:
Renters insurance ($10k personal coverage + dog bite coverage; tenants may opt to provide their own qualified policy)
Utility management and move-in concierge service
HVAC air filter delivery (where applicable)
Credit building for timely rent payments
$1M identity protection
Resident rewards program Read More