Rental Criteria

 

 

RENTAL CRITERIA

Criminal Records

Applicant will be declined if he or she:

r  Is a registered Sex Offender.

r  Has had a violent felony conviction within 7 years other than involuntary vehicular manslaughter (unintentional).

r  Has had a felony conviction for armed robbery or burglary within 5 years of final disposition.

r  Has had a felony drug related conviction within 3 years from the date of final disposition.

r  Has any pending charges and/or arrest warrants issued for any of the above related crimes

Income Qualifications

Gross monthly income must be a minimum of 3.0 times the monthly rental amount or 2.5 times the monthly rental for applicants with a fixed income. Co-signers and/or additional deposits are not accepted as a substitute if resident does not meet the income criteria unless the applicant is a full time student that meets the following criteria.

 

Minimum Income Qualifications

  • Students:                                    3.0 times the monthly rent or,

5.5 times monthly rent with parents income co-signing

  • Senior Citizens/Disabled:              2.5 times rent
  • Other:                                        3.0 times monthly rent

 

Employment Verification

  • Must have 1 year verifiable employment and/or verification of fulltime student status.
  • New Employment offer letter or job relocation letter.

 

Rental/Mortgage History

  • No more than two (2) late payments with not more than one (1) of those due to NSF (non-sufficient funds check) in the last twelve (12) months.
  • Minimum twelve (12) months of good rental history required.
  • No reports of disturbances including but not limited to parties, reports of drug activity, conflict with others, etc.
  • Evictions and/or Broken Leases refer to Second Chance Leasing outlined below.

 

Credit Qualification

  • No repossessions in the last three (3) years.
  • Unsatisfactory credit standard refer to Second Chance Leasing outlined below.

 

First Time Renter(s)

First time renter= Double Base Security Deposit requirement (Base deposit X 2)

 

Second Chance Leasing

If rental history does not meet the above stated criteria, resident will be subject to conditional approval Security Deposit requirements:

  1. Broken Leases = Base Security Deposit requirement + 1 month’s rent as additional Security Deposit requirement. Lease infraction must be at least 3 years old, with 1 year of established good rental history.
  2. Evictions = Base Security Deposit requirement + 1 month’s rent as additional Security Deposit requirement. Only 1 eviction acceptable. Lease infraction must be at least 3 years old, with 1 year of established good rental history.
  3. Credit less than standard= Double Base Security Deposit requirement (Base deposit X 2)

 

Form 206B 2/2/2017