Epic Asset Management
Resident Qualification Criteria
October 2017
 
All applicants must be of legal age.  All parties 18 years of age or older are required to complete an application.
All applications for the household are to be completed in full, signed, dated and any applicable fees paid before an application is considered “complete”.
Applications containing false, untrue, incorrect, missing or misleading information will be denied.
Proof of liability insurance will be required at move in.
 
Credit Requirement based on credit score - Experian Scorex Plus
Unconditional Approval 700 – 900 
Approval with First Month Rent & Increased Deposit 600 – 699
Denied 300 – 599
 
Lack of established credit history (score) may require First Month Rent & Increased Deposit or Qualified Cosigner.  
Lack of established credit history (score) with derogatory credit (unpaid non-medical collections, judgments, past due accounts, etc.) may result in denial.
 
Income requirement in relation to the rental amount:  Applicant must have verifiable income of at least 3 times the rental amount. In the case of roommates or joint applications, the combined income must meet 3 times the monthly 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 dependent 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, letter of hire or offer, most recent tax returns, W2, Leave & Earnings Statement (LES), Statement of Social Security Benefits, I20 (International Students), etc.
 
If an applicant has a minimum credit score of 700 and meets at least 3 times the rental amount in verifiable income, then rental history verification will not be required.  However, proof of verifiable income will be required.
 
Final Recommendation will be based on the following additional qualifying factors:
 
Rental History:  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 First Month Rent and Increased Deposit -OR- cosigner (depending on income/credit score) may be requested.
 
Employment History:  12 Months on the job or previous employment in same profession. If less than 12 months then First Month Rent and Increased Deposit -OR- cosigner (depending on income/credit score) may be requested.
 
Criminal Records Search:  A statewide (WA or OR) criminal records search will be processed.  In the event that there are states that an applicant has resided in that are outside Washington or Oregon then a National Criminal Search will be conducted.  
 
Civil (Eviction) Records Search:  A civil (eviction) records search will be processed to determine if there have been any unlawful detainer or eviction filings.
 
Cosigner Criteria Requirements:  A cosigner will be APPROVED if all the qualifications (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
Employment: 12 months with current employer or previous employment in same field of work (Retired individuals may qualify)
Credit History: Cosigners must have a credit score of 750 – 900
Income:  4 times the rental amount in verifiable, garnish able monthly income.
 
SECTION 8 APPLICANT CRITERIA (if applicable):  All Section 8 applicants are required to meet the same criteria as stated above, with the exception that the applicant needs to meet income requirements for their portion of the rent.  Proof of Section 8 assistance will be required.
 
GROUNDS FOR DENIAL WILL RESULT FROM THE FOLLOWING ON ALL APPLICANTS:
Issues during any prior tenancy at any community that is owned or managed by EPIC Asset Management may be grounds for denial.
Unpaid rental collection and/or judgment and/or verified balance owing to a landlord.
Extreme negative and adverse rental history, e.g…documented complaints and/or damages, multiple late payments, NSF checks, lease violations.
Unverifiable social security number.
Unfulfilled landlord obligations that may result in collection filing.
 
We do not automatically deny applicants based on criminal history.  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 may result in denial:
 
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)      Rape of a child (All counts)      Child molestation (All counts)
Arson (1st, 2nd degree)      Reckless Burning (1st degree)     Terror Related Activity     Delivery or Sale Illegal Substance (All counts)
 
A criminal conviction which results in a registered sex offender requirement and/or any current sex offender registry requirement.
 
Consider this statement as notification that we accept a comprehensive reusable tenant screening report, as defined by RCW 59.18.257, like MyScreeningReport.com
 
Occupancy Standards: 
Studio - 2 People
1 Bedroom - 3 People
2 Bedroom - 5 People
3 Bedroom - 7 People

Please enter your social security number (SSN) if one has been issued to you. Submission of an SSN helps assure access to your credit profile and reduces the likelihood of processing delays. We maintain strict physical, electronic and administrative security practices to protect your information. Moco Privacy Policy.

Equal Housing Opportunity

 
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Each person over the age of 18, who will be residing in the rental unit, is required to complete a separate application.

Please tell us about the rental unit you would like to apply for:

Apartment (Landlord) Name*:  
Management Company Name:
Rental Unit Street Address*:
City*, State* and Zip:
Apartment (Landlord) Contact Name*:
Apartment (Landlord) Telephone Number*:
How did you hear about us (Craigslist, For Rent, Friend, etc)?

Your planned move in information:

Rental Unit Number:  
Planned Move in Date: *
/ /
Rent $*:

Application Type *

I am applying:
Spouse/Roommate(s) name(s) -
list all over 18 years of age:
Cosigning for:

Tell us about yourself

(Legal) Last Name*:  
First Name*:
Middle Name:
Suffix:
Other names used:
Email Address*:
Contact Phone Number*:
Alternate phone numbers
(Cell, Work, etc..)
Social Security #:
 -   -   
Birth Date*:
/ /
Driver's License # and State:


* = Required Field.

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