Residential Qualification Criteria
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 a First and Last Months Rent may be requested. Final recommendation will also be dependant on credit history, income and employment.
Credit History: At least 3 accounts established for 1 year in good standing.
If derogatory credit history (excluding medical debt) is in excess of $1000 then a First and Last Months Rent may be requested. A discharged bankruptcy that is older than 6 months may require a First and Last Months Rent. Paid rental debt may require a First and Last Months Rent. Final recommendation will also be dependant on income, rental & employment history.
For those applicants that have not been issued a social security number, an individual tax indentification number (ITIN) may be requested.
Employment: 12 months with current employer or previous employment in same field of work
If employment is less than 12 months then a First and Last Months Rent may be required.
Final recommendation will also be dependant on rental & credit history and income
Income: Monthly income must be equal to at least 2.5 times the rental amount
Income that is less than 2.5 times the rental amount will result in denial.
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 one (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 for 1 year with less than $100 in derogatory credit, Any bankruptcy (open 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.
Unpaid balance owing to landlord.
Any unlawful detainer, found in favor of a landlord, within the last 5 years - regardless of payment status.
3 or more late payments within a 12 month rental period.
2 or more NSF checks within a 12 month rental period.
2 or more noise complaints within a 12 month rental period.
Unverifiable social security number.
Falsification of rental application.
Breaking lease agreement that will result in collection filing.
Open (non discharged) bankruptcy.
Discharged bankruptcy within the last 6 months.
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:
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) and Theft of a Motor Vehicle
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 (All counts)
Rape of a child (All counts) Possession with intent to Deliver (All counts)
Any Drug related conviction Any Outstanding criminal warrant
Any criminal conviction which results in a registered sex offender requirement and/or any 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.