Himalaya Property Management
Residential Qualification Criteria
When completing the following rental application, please include the names of any minors that will be residing in the home within the "other occupants" field.
12 months valid, verifiable rental history
Valid rental history is a written lease or month-to-month agreement.
If rental history is less than 12 months then an increased deposit -OR- cosigner may be requested. 2 late payments and/or NSF checks within 12 months may result in an increased deposit. Final recommendation will also be dependant on credit history, income and employment.
At least 4 accounts established for 1 year in good standing
If derogatory credit history is in excess of $3000 (exluding medical and student loans) 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 3 times the rental amount
If income is less than 3 times the rental amount but more than 2.5 then an increased deposit may be requested. Income that is less than 2.5 times the rental amount may require a qualified 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.
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: 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.
3 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.
Open Chapter 7 or 11 Bankruptcy
Verified name and date of birth match of criminal conviction or pending case 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 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.
REMINDER: When completing the following rental application, please include the names of any minors that will be residing in the home within the "other occupants" field.
Consider this statement as notification that we do not accept a comprehensive reusable tenant screening report, as defined by RCW 59.18.257