Resident Qualification Criteria
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 1 month 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.
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 1 months 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.
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.
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 1 months 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
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
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)
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
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 (current) photo identification will be required of all applicants.