The Cobb Apartments
Resident Qualification Criteria
Your online application will only be considered “complete” after successful submission, a holding deposit is paid and a hold form has been executed. Please contact the apartment community for instructions on paying the holding deposit and executing the hold form.
When applying, screening will be run on rental history, credit history, employment, income, and criminal history. If the screening passes the non-criminal requirements and there are no criminal convictions, then the application may be accepted immediately. If there are criminal convictions, the application may be given conditional approval, pending the outcome of additional criminal screening.
Rental History: 6 months valid, verifiable rental history.
Valid rental history is considered a written lease or month- to-month agreement. If rental history is less than 6 months then an increased deposit equal to 90% of the full month’s rent -OR- cosigner may be requested. 2 late payments, NSF checks and/or noise complaints within 6 months may result in an increased deposit. Final recommendation will be dependent on credit history, level of income and length of employment.
Credit History: At least 2 accounts established for 1 year in good standing.
If derogatory or no credit history (excluding medical collections) is in excess of $500 an increased deposit = to 90% of the full month’s rent -OR- cosigner may be requested. Discharged bankruptcy within the last two (2) years will result in an increased deposit. Discharged bankruptcy (with no derogatory credit since the discharge) that is older than two (2) years may qualify for an approval. However, final recommendation will be dependant on level of income and length of rental history.
Employment: 12 months on the job or previous employment in same field of work.
Employment requirements will be waived for full time students. Proof of status will be required.
Income: 3 times the rental amount.
If income is less than 3 times the rental amount but more than 2.5 then an increased deposit = to 90% of the full month’s rent may be requested. Income that is less than 2.5 times the rental amount may require a qualified cosigner. Final recommendation will be dependent on level of income, length of rental history and credit history.
Acceptable documentation for verifiable income varies based on the income source. Generally accepted documentation may include two (2) consecutive (most recent) paystubs, most recent tax returns, W2, Leave & Earnings Statement (LES), Statement of Social Security Benefits, I20 (International Student), etc.
SECTION 8 APPLICANT CRITERIA:
Section 8 applicants are required to meet the same criteria as indicated, with the exception that the applicant must only meet income requirements for their portion of the rent.
COSIGNER RENTAL CRITERIA:
A cosigner will be APPROVED if all the qualification below are met, if the cosigner does not meet any 1 of the following criteria then the cosigner will not qualify.
RENTAL HISTORY: 1 year of valid and verifiable rental or mortgage history with no late payments
CREDIT HISTORY: At least 4 accounts in good standing with less than $100 in derogatory accounts.
Any bankruptcy (open or discharged) will result in denial.
EMPLOYMENT: 12 months on the job or previous employment in the same kind of work
INCOME: 4 times the rental amount of the unit in verifiable, garnishable income
We do not automatically deny applicants based on criminal history, except for convictions for the manufacture or distribution of any federally controlled substance. Rather, criminal history is considered based on the nature of the offense and time passed since the date of final disposition (e.g. applicant was released from prison, probation or parole). We limit consideration to those convictions, the dates of final disposition of which pre-date the report by no more than seven years. Note that convictions for the following offenses will require additional screening:
Murder (1st and 2nd degree) Kidnapping (All counts)
Manslaughter (1st degree) Theft (1st & 2nd degree)
Assault 1st, 2nd & 3rd degree) Burglary (1st, 2nd degree & vehicle prowling 1st degree)
Robbery (1st & 2nd degree) Malicious Mischief (1st degree)
Rape (All counts) Arson (1st, 2nd degree & Reckless Burning 1st degree)
Rape of a child (All counts) Possession with intent to deliver illegal substance (all counts)
Child molestation (All counts) Delivery or sale of illegal substance (all counts)
Outstanding criminal warrant Any terror related activity
Determinations as to criminal screening will be made on a case by case basis, and will be based on the following factors and information, which will be required for every conviction. The application screening cannot be completed without this information: 1) the facts of the conviction including actual charges; 2) age at the time of the conviction; 3) criminal convictions prior to the conviction; 4) criminal convictions and pending charges since the conviction; 5) how much time has passed since the conviction; 6) and for drug possession charges: if you are in, or have completed recovery or treatment since the conviction. Failure to provide any information is a basis for denial of tenancy.
GROUNDS FOR DENIAL WILL RESULT FROM THE FOLLOWING ON ALL APPLICANTS:
Verified unpaid eviction appearing on credit report or confirmed with landlord.
Unpaid rental collection and/or judgment verified on credit report.
Balance owing to landlord that will result in collection filing.
3 or more notices and/or late payments and/or NSF checks and/or noise complaints within a 6 month rental period (current or previous).
Unverifiable social security number
Falsification of rental application
Open (non discharged) bankruptcy
Valid (current) photo identification will be required of all applicants.
Consider this statement as notification that we do not accept a comprehensive reusable tenant screening report, as defined by RCW 59.18.257.