Brick & Mortar (COMPREHENSIVE)
Residential Qualification Criteria
It is understood that the application is not complete until a signed Agreement to Secure Occupancy form and holding fee have been received
12 months valid, verifiable rental history.
Less than 12 months valid, verifiable rental history will result in denial
However 2 late payments, NSF checks and/or noise complaints within 12 months will result in denial.
At least 4 accounts established for 1 year in good standing
If derogatory credit history (excluding medical) is in excess of $3000 and/or discharged bankruptcy within the last 3 years an increased deposit -OR- cosigner may be requested. Final recommendation will also be dependant on income, rental & employment history.
12 months with current employer or previous employment in same field of work
Final recommendation will also be dependant on rental & credit history and income
Monthly verifiable income must be equal to at least 2.5 times the rental amount (include non-garnishable)
If income is 2.0 to 2.49 times the rental amount then an increased deposit OR cosigner.
Final recommendation will also be dependant on rental, credit & employment history.
Acceptable documentation for verifiable income varies based on the income source. Generally accepted documentation may include 2 consecutive (recent) paystubs, most recent tax returns, W2, Leave & Earnings Statement (LES), Statement of Social Security Benefits, I20 (International Students), etc.
SECTION 8 APPLICANT CRITERIA:
All Section 8 applicants are required to meet the same criteria as stated above, with the exception that the applicant only needs to meet income requirements for their portion of the rent. Recommendations will be made following the above set standards.
COSIGNER QUALIFICATION CRITERIA:
A cosigner will be APPROVED if all the qualification below is 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: At least 4 accounts in good standing for 1 year with less than $500 in derogatory credit. Any bankruptcy (open and/or discharged) will result in denial.
EMPLOYMENT: 12 months with current employer or previous employment in same field of work
INCOME: 4 times the rental amount of the unit in verifiable, garnishable income
GROUNDS FOR DENIAL WILL RESULT FROM THE FOLLOWING ON ALL APPLICANTS:
- Verified unpaid eviction showing on credit report or confirmed with landlord.
- Unpaid rental collection verified on credit report.
- Balance owing to landlord.
- Open (non discharged) Bankrupcty
- 2 or more late payments and/or NSF checks and/or noise complaints within a 12 month rental period (current and/or previous).
- Unverifiable social security number.
- Falsification of rental application.
- Breaking lease agreement that will result in collection filing.
- Income less than 2.0 times the rent
- Less than 12 months valid, verifiable rental history
Verified name and date of birth match of criminal conviction as follows:
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)
Child molestation (All counts) Delivery or Sale of illegal substance(s) (All counts)
Rape of a child (All counts) Possession with intent to Deliver Illegal Substance (All counts)
Outstanding criminal warrant Any Terror Related Activity
Any drug related conviction
Any criminal conviction which results in a registered sex offender requirement and/or any current sex offender registry requirement.
A criminal records search will be performed for felony and misdemeanor offenses. All felony and misdemeanor offenses must be disclosed on the rental application.
Valid Photo Identification will be required of all applicants.