Rental Qualifications

RENTAL APPLICATION: Rental applications must be completed by each applicant (defined as all residents to be identified in the lease as the person or persons responsible for paying the rent). Any omissions or falsifications may result in rejection of an application or termination of a lease. A driver’s license or other state or federally issued I.D. will be required for identification prior to showing a home/apartment and/or application processing.

INCOME: Gross income individually for single applicants or combined incomes for married couples and roommates must be at least 3.0 times the amount of the rent. Co-signors and parental guarantees are required to have an income that is at least 4.0 times the rent.

EMPLOYMENT: Applicants must have at least 6 months of current verifiable employment.

The submission of a pay check stub with year to date information may be required. Full-time students may require a co-signor. Self-employed individuals must provide a financial statement from a CPA or previous year’s tax return. Retired applicants must provide a verifiable source of income to indicate the ability to pay.

RENTAL HISTORY: Applicants must provide 12 months of current verifiable rental history.

An application will not be approved of if there is any outstanding balance owed to an apartment community or mortgage company. Additionally, all adult applicants must have acceptable rental history with no prior evictions and no history of default in lease obligations or community policies. The following information will be verified: (a) length of residency; (b) consistency and timing of payments; (c) adherence to community policies; (d) if proper notice was given. Should you have a balance or fail to fulfill a lease contract with another community, you will need to provide a written statement from the rental management or mortgage company that the balance has been paid. If rental is from an individual owner, applicant must provide a copy of the lease and 6 month’s of rental receipts.

CREDIT: All applicants MUST meet the minimum credit score of 520 or above.

***Applicants may be required to pay one months rent security deposit in order to fulfill the employment or credit requirements:

If any of the following situations apply, the application will be automatically denied:

-Any unpaid landlord debt

-Two or more landlord debts (WHETHER THERE PAID OR NOT)

-FICO score of 519 or less

-Invalid social security number

-Excessive late rental payments, i.e., 4 or more late rental payments in a 12 month period.

-Excessive NSF rental checks, i.e., 2 or more per 6 month period

-A landlord reporting significant problems with the applicant

-Home loan foreclosure or charge-off within one year

-Bankruptcy that is NOT discharged -Falsification of information on rental application

-Any criminal conviction that represents a threat to the residential community, i.e., Felony, Manufacture or distribution of a controlled substance, and other crimes considered a threat to the residential community.