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Resident Selection Criteria (con't) |
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Credit History: An unsatisfactory credit report can disqualify an applicant from renting an apartment home at this community. An unsatisfactory report is one, which reflects past or current bad debts, late payments or unpaid bills, liens, judgments or bankruptcies. If the applicant is rejected for poor credit history the applicant may contact the credit-reporting agency that provided the credit report. An applicant rejected for the unsatisfactory credit is encouraged to obtain a copy of the credit report from the agency, correct any erroneous information that may be on the report, and resubmit the application to this community.
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Income: Applicants must have a gross income source that can be verified; income requirements vary per property; check with the community you choose (typical income requirements range from 2.5 to 4 times the monthly rent of the apartment being rented). Acceptable income verification is required which include applicant(s) last 2 (two) pay stubs, employment verification, their most recent W-2, or proof of assets equal to 1 (one) year's rent. Self-employed applicants may be required to supply the most recent tax return or certified verification from their accountant or bank.
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Pet Limitations: Please confirm pet policy, limitations, deposits, fees and pet rent with the specific community you choose to apply with. Pet limitations can include maximum pounds and height. A non-refundable pet fee, refundable pet deposit and monthly pet rent will be charged per pet, if allowed. All residents with pets are required to have a pet agreement on file and must submit a veterinarian statement (no more than 12 months old) establishing the general health of the pet and the status of all required shots. A photograph of the pet will be made part of the lease agreement. No exotic animals allowed. Service animals for special needs are accepted with third party medical care-giver authorization. Dogs of a class with known vicious or aggressive propensity shall not be permitted. Examples of these breeds (but not exclusive): Pit Bulls (Bull Terriers or American Staffordshire Terriers), Rottweilers, German Shepherds, Doberman Pinschers, Chow Chows, Akitas, and Huskies, full blood or mixed at any percentage are PROHIBITED from residing at this community.
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Evaluation |
The community evaluates the above information with an analyzation method provided through an independent 3rd party contractor (The Screening Pros) that weighs the indicators of future rent payment performance. For further explanation of this type of method, please refer to the “Clarifier Report”.
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Conditional Approval |
An Additional Deposit equal to up to one month's market rent or will be required if the credit recommendation is returned with "conditional approval" or criteria for any one of Income, Employment or Rental History have not been met, or have only been partially met. All adverse action requirements will be combined when reviewing multiple applications.
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Co-Signers |
In the event a co-signer is required, he/she must complete an Application of Residency and meet all of the Resident Selection Criteria. A co-signer will be fully responsible for the Lease Agreement if the occupying resident(s) default.
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