RENTAL QUALIFICATION CRITERIA
Approval for an apartment rental cannot be made without a fully completed rental application and the submittal of all required supporting documentation.
OCCUPANCY STANDARDS:
The maximum number of occupants per apartment is Studio (2); 1 Bedroom (2); 2 Bedroom (4); 3 Bedroom (6); excluding those one (1) year or under at the time of lease signing.
AGE REQUIREMENTS:
Applicant(s) must be eighteen (18) years of age or older. A rental application is required for all applicants eighteen (18) years of age or older, and must meet all rental criteria, even when living with a parent or guardian. Each occupant over the age of eighteen (18) years of age shall be named on the lease as a leaseholder.
APPLICATION FEE & ADMINISTRATION FEE:
Application Fee: $75 non-refundable fee, per applicant; due at time of application.
Administration Fee: $75 non-refundable fee, per apartment; due at time of application.
SECURITY DEPOSIT:
Security Deposits are due within 48-hours of application approval. The standard security deposit is equal to one (1) month’s rent; however, can increase or decrease based on the results of the credit screening. All security deposits are non-refundable after forty-eight (48) hours of payment.
LEASE SIGNING:
Once the lease agreement has been signed, the lease is fully enforceable.
IDENTIFICATION:
Applicants and any Guarantor’s must provide a valid government issued photo ID. Acceptable forms of ID include driver’s license, passport, or state issued ID.
Non-US citizens without a Social Security #, must provide a valid government issued photo ID along with current U.S. Visa demonstrating the Applicant’s lawful presence in the United States.
INCOME REQUIREMENTS:
The household’s gross minimum income must be at least three (3) times the amount of the monthly rent.
INCOME VERIFICATION FOR EMPLOYED APPLICANTS:
Applicant(s) must provide one or more of the below acceptable proofs of income that is legal, verifiable, and paid directly to the applicant.
Three (3) most recent, consecutive paystubs with year-to-date income reflected.
Prior calendar years filed and signed tax returns and W-2’s. Verification with the same employer will be required.
Letter of Employment are acceptable ONLY for newly hired applicants who have not begun receiving paystubs. If the applicant has started work but does not have three consecutive paystubs, the applicant can use the offer letter and one (1) or two (2) paystubs in conjunction with each other. The Letter of Employment MUST be on company letterhead and MUST contain the following:
Salary Information:
The Applicants Gross Annual or Monthly Salary OR Hourly Rate of Pay and Hours Worked per Pay Period.
If the Applicant receives additional compensation in the form of bonuses or commissions, this should be mentioned with a clear indication of whether these are guaranteed or potential earnings.
Employment Status:
Full-Time, Part-Time, or Contract Employee.
If Part-Time Employee, clear indication of how many hours each pay-period the Applicant will work.
If Contact Employee, clear indication on the duration of the job assignment.
Signed by an authorized representative of the company including business owner, human resource representative, or hiring manager.
Note: Screenshots of documents used for Income Verification will not be accepted. Only original PDF’s or clear copies of documents are acceptable.
INCOME VERIFICATION FOR NON-EMPLOYED APPLICANTS:
Retired Applicants:
May provide proof of income or ability to pay through Social Security income statements (SSA-1099), pension or retirement income documentation, or bank statements showing sufficient assets to cover rent for the term of the lease agreement (checking, savings, investment accounts).
Applicants should provide the appropriate documentation as listed below to verify these alternative income sources. All documents listed by source are required unless otherwise noted. Screenshots of documents will not be accepted; all documents must be original PDFs or clear copies.
Social Security Award Letter and/or Current year SSA-1099 form.
Liquid Assets:
Liquid assets may be considered as part of the income verification process, but they will not be used to supplement gaps in regular monthly income. To qualify under this criteria, applicants must demonstrate that they have liquid assets consistently maintained in an account with a balance equal to or exceeding one (1) year’s rent for the unit they are applying for. This balance must be verified through recent bank statements showing consistent account activity, and must reflect stability, not sporadic or one-time deposits. Liquid assets cannot be used to compensate for shortfalls in regular monthly income; rather, they will serve as an independent verification of financial capacity.
Savings Accounts:
Bank statements from the last six (6) months showing the activity in the account and balance remaining consistently greater than or equivalent to 1 full year’s rent.
Money Market Accounts:
Statements from the last six (6) months showing a balance consistently equivalent to or greater than 1 full year’s rent.
Liquidated Investments:
Proof of recent liquidation of assets (e.g., sale of stocks or bonds) with corresponding bank statements showing the deposit of liquidated funds showing a balance consistently equivalent to 1 full year’s rent.
Pension or Retirement Income:
Pension or retirement benefit award letter and/or Annual statement or 1099-R form for pension or retirement income.
Bank statements showing regular deposits from the pension or retirement account for the last six (6) months.
Alimony or Child Support Payments
Court order of legal agreement verifying the amount of alimony or child support awarded.
Bank statements showing regular, consistent deposits for at least the last six (6) months. Or Proof of payments through government disbursement systems, if applicable.
Self-Employment Income:
The most recent filed and signed tax returns, including Schedule C.
Bank statements for the last six (6) months showing regular income deposits.
May be requested: Business license or corporate filling document.
Trust Fund Income: Trust agreement or legal documentation specifying the disbursement schedule and the amount of income.
Bank statements showing regular trust fund deposits for at least the last six (6) months. Or a letter from the trustee or fiduciary managing the trust confirming the applicant’s entitlement to the income.
Worker’s Compensation:
Worker’s compensation award letter or settlement agreement.
Bank statements showing consistent deposits from worker’s compensation payments or Annual 1099-G form showing compensation payments.
Military/Veteran Benefits:
VA Benefits Award Letter or other documentation verifying the amount of the veteran’s benefits received.
Inheritance or Gift Income:
Legal documentation or letter from an attorney or executor verifying the inheritance and disbursement amount.
Bank statements showing the deposit of the gifted or inherited funds.
Note: In certain municipalities where source of income is a protect class, income requirements will be adjusted for applicants who receive rental assistance, or housing vouchers.
GUARANTORS/CO-SIGNERS:
A guarantor/co-signer can only be used if an applicant does not meet the income & employment requirements. Non-Resident guarantors/co-signers must meet the additional qualification requirements below.
The guarantor/co-signer must meet all the criteria described in this rental qualification criteria form.
Guarantors and co-signers must have a gross income equal to six (6) times the amount of the monthly rent.
Example: If the monthly rent is $2,000, the guarantor or cosigner MUST show verification of GROSS income of $10,000 monthly, or $120,000 annually.
All guarantors/co-signers are jointly and severally responsible for the entire lease and any affiliated addendums.
All guarantors/co-signers are required to sign the lease as a leaseholder.
CREDIT/CRIMINAL BACKGROUND SCREENING/RENTAL HISTORY:
Credit and criminal background checks are processed on each applicant. All applicants will be evaluated through a third-party screening company that will determine the eligibility of each applicant.
BANKRUPTCIES:
Must be discharged for a minimum of three (3) years.
A history of improved payment following the bankruptcy.
A discharged bankruptcy may result in a denial, or require an additional security deposit, or non-resident guarantor/cosigner.
Active evictions will result in automatic denial.
RENTAL HISTORY:
Based on the results of the credit report, applicants may be required to sign off on a Rental Verification Form. The Rental Verification Form will be sent to your current or previous Landlord. The purpose of the Rental Verification Form is to verify timely payment history, the lease was fulfilled and there are no active evictions or judgements.
In the event a current or previous Landlord is unreachable, applicants may provide a rental ledger or bank statements as proof of timely rental payments.
EVICTION HISTORY:
Evictions within the past five (5) years may result in a denial.
Applicants with evictions may provide evidence of the debt being paid in full for reconsideration.
Additional security deposit may be required.
CRIMINAL HISTORY:
No felony convictions unless at least 7 years have passed since the date the applicant has completed the sentence.
No convictions for the manufacture or distribution of controlled substances
No conviction or deferred or withheld adjudication for a misdemeanor crime against a person or property.
No conviction or deferred or withheld adjudication sex crimes or sex trafficking
No conviction or deferred or withheld adjudication of any theft offenses, including identity theft and fraud.
No more than four (4) misdemeanor offenses (other than minor traffic offenses) within the last five (5) years.
AUTOMATIC DENIAL:
Any person who is currently engaged in illegal use of drugs or for which Landlord has reasonable cause to believe that a person’s illegal use or pattern of illegal use of a drug may interfere with the health, safety, and right to peaceful enjoyment of the property by other residents.
Any person who is subject to a national, state, or local sex offender lifetime registration requirement.
Any person who, at the time of application, is subject, for a specified length of time, to a national, state, or local sex offender registration requirement.
Any person, if there is a reasonable cause to believe that such person’s behavior, from abuse or pattern of abuse of alcohol, may interfere with the health, safety, and right to peaceful enjoyment of the property by other residents. The screening standards are based on behavior, not the condition of alcoholism.
Unsolved debts to current/previous landlord/mortgage holder and/or non-compliance with any terms of the lease/mortgage and/or community policies.
Eviction or currently in the process of being evicted by landlord for cause and/or non-payment of rent.
Foreclosure within the past three (3) years.
Applicant has filed for bankruptcy within the past twelve (12) months that has not yet been discharged.
Information on the rental application that is found to be not true.
In accordance with HUD guidelines, applicants denied based on criminal history, may request an independent evaluation of their circumstances. If the applicant can demonstrate that their criminal record should not disqualify them for residency-due to factors such as rehabilitation, time since the offense, or changes in personal circumstances, the property will conduct a review before making a final decision. This review is not a guarantee of approval but is intended to ensure a fair and individualized consideration of each applicant's background.
Note: When applying screening criteria to a specific case, Landlord may consider all the circumstances relevant to a particular applicant or occupant’s case before making a final decision. Landlord may take into consideration the seriousness of the offense, the degree of participation in the offending activity, and the effect denying housing would have on non-offending occupants.
CORPORATE RENTAL APPLICATIONS:
Information required to lease an apartment to a Corporate Entity includes:
Last two (2) years of companies filed and signed corporate tax returns.
Three months of bank statement proving an account balance to support six-times (6x) the amount of the monthly rent for up to one (1) year.
Example: If the monthly rent is $2,000, the guarantor or cosigner MUST show verification of GROSS income of $10,000 monthly, or $120,000 annually.
Individual’s occupying the apartment must pass a criminal background check
Individual’s occupying the apartment must supply copies of driver’s licenses, US Passport or State Issued ID.
Company Officer who is signing the corporate lease, must undergo a credit and criminal background check.
RENTER’S INSURANCE: Residents are required to carry Renter’s Insurance. Minimum coverage requirements can be found in the residential lease agreement. Proof of coverage is required prior to move-in and must be maintained throughout the term of the lease.
PET POLICY: No pets are permitted without management approval. All pets must be registered with the management office, pet addendum completed and signed and associated non-refundable pet deposit must be paid in full. All rules & regulations set forth in “Pet Addendum” must be followed at all times. For a complete list of breed restrictions, associated fees, and rules & regulations, please ask your leasing associate to provide you with the “Pet Addendum”.
REASONABLE ACCOMODATIONS:
Reasonable accommodations requests for applicants and residents with disabilities will be granted in compliance with federal, state and local laws. Requests for accommodations or modifications can in writing via letter/email, or orally. A Reasonable Accommodation Form will be provided and completion. All information provided will be kept confidential and used solely to evaluate the accommodation request.
I hereby authorize Landlord to obtain a consumer report, and any other information it deems necessary, for the purpose of evaluating my application. I understand that such information may include, but is not limited to, credit history, civil and criminal information, records of arrest, rental history, employment/salary details, vehicle records, licensing records, and/or any other necessary information. I understand that subsequent consumer reports may be obtained and utilized under this authorization in connection with an update, renewal, extension, or collection with respect or in connection with the rental or lease of a residence for which application was made. I hereby expressly release Landlord and any procurer or furnisher of information, from any liability whatsoever in the use, procurement, or furnishing of such information, and understand that my application information may be provided to various local, state and/or federal government agencies, including without limitation, various law enforcement agencies.
APPROVAL SUBJECT TO SATISFACTORY INCOME, EMPLOYMENT, RENTAL HISTORY, CRIMINAL HISTORY AND CREDIT VERIFICATION.