Residential Qualification Criteria
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. Final recommendation will also be dependant on credit history, income and employment.
Established credit history not required for qualification.
However, If derogatory credit history (excluding medical & student loan debt) is in excess of $500 then 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 income must be equal to at least 3 times the rental amount
(only garnishable income considered)
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.
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.
1 year of valid and verifiable rental or mortgage history with no late payments
At least 4 accounts in good standing for 1 year with less than $100 in derogatory credit. Bankruptcy (open or discharged) will be grounds for denial.
2 months with current employer or previous employment in same field of work
5 times the rental amount of the unit in verifiable, garnishable income
GROUNDS FOR DENIAL WILL RESULT FROM THE FOLLOWING ON ALL APPLICANTS:
Verified eviction showing on credit report or confirmed with landlord.
Derogatory credit (excluding medical & student loan debt) in excess of $3000
Open or non-discharged bankruptcy
Rental collection verified on credit report
Balance owing to landlord
4 or more late payments and/or NSF checks within a 12-month rental period
(2 – 3 late payments and/or NSF checks within 12 months may require an increased deposit)
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
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 & 3rd 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 (All counts)
Rape of a child (All counts) Possession with intent to Deliver (All counts)
Any drug related conviction
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