Rental Qualifications

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STATEMENT OF RENTAL QUALIFYING POLICIES

FOR ALL (___STATE___) RENTAL PROPERTIES

LAST REVISION DATE: (month/day/year)

 

(COMPANY OR OWNER NAME) is committed to supporting the Fair Housing Act, as amended, prohibiting discrimination in housing based on Race, Color, Religion, Sex, Ancestry, Handicap, Familial Status or National Origin. The following qualification standards apply to ALL Applicants:

 

WE REQUIRE A VALID GOVERNMENT ISSUED PHOTO I.D. FROM ALL ADULTS DESIRING TO SEE AN APARTMENT AND/OR SUBMIT AN APPLICATION FOR RESIDENCY. EACH OCCUPANT OF ANY APARTMENT WHO IS NOT A DEPENDENT CHILD OF THE LESSEE SHALL BE NAMED ON THE LEASE AND MUST MEET ALL CRITERIA AS SPECIFIED FOR THE PRIMARY APPLICANT.

 

INCOME: Total monthly household GROSS INCOME must be at least three and one half  (3.5) times the amount of the monthly apartment rent. All applicants will be required to provide written proof from their employer that substantiates the income claimed on the Rental Application. In the absence of such proof, we will consider paystubs for at least six (6) consecutive months of employment, prior year(s) Federal Income Tax Returns, or other proof as deemed acceptable by the Property Manager.

 

EMPLOYMENT: Applicants must provide proof of current employment. If an Applicant has changed employment within the past six months, they must have a minimum of six (6) consecutive months of verifiable employment with the same employer in the past twelve (12) months, as well as proof of current employment. Length of employment must be verified in writing by either supervisory personnel or by the Human Resources Department at the Applicant’s current and past employers.

 

CREDIT: EXTENSIVE NEGATIVE CREDIT HISTORY IS GROUNDS FOR APPLICATION DENIAL. Negative credit history is described as including, but not limited to, any of the following items:

 

  • Any judgments not remedied, and/or any foreclosure of real estate not included in a bankruptcy.
  • More than THREE (3) credit or installment accounts, past due for more than 90 days within the past twelve (12) months.
  • More than ONE (1) open collection accounts..
  • Any open collection accounts from any utility, telephone service, or CATV company.
  • Any repossession of material or personal property that is not being repaid, except when part of a bankruptcy, separation or divorce.
  • Any suit pending or not remedied.
  • Any personal bankruptcy that has not been discharged.
  • Any Chapter 13 personal bankruptcy that is not being paid according to the bankruptcy agreement or is for less than fifty (50 ) percent of total aggregate debts. An “Agreed Order” must be submitted for all Chapter 13 bankruptcies.
  • More than TWO (2) NSF checks within any twelve (12) month period.

 

The absence of a credit file shall not adversely affect any applicant, however, the applicant will be required to pay an additional security deposit in the amount of one (1) month’s rent, in addition to the standard security deposit currently being charged at the time of application.

 

RENTAL HISTORY: ANY NEGATIVE RENTAL HISTORY IS GROUNDS FOR APPLICATION DENIAL.  Negative rental history is described as including, but not limited to any of the following:

 

  • Any breach of any lease agreement unless documentation of proven negligence on the part of the Management and/or Owner(s) of the property is provided. Breach of lease is defined as any monetary or non-monetary violation of the lease agreement, and any evictions and/or judgments for rental payments and/or damages.

 

  • No more than 25% of rental payments and/or any rental-related debt, including payment agreements and judgments, in the past twelve (12) months shown as late pays.

 

MILITARY PERSONNEL: We do not accept applications from anyone whose household includes an active member of any branch of the United States Armed Forces.

 

NUMBER OF OCCUPANTS PERMITTED IN AN APARTMENT:

 

  • The maximum number of occupants for any one (1) bedroom apartment shall be two (2) persons.

 

  • The maximum number of occupants for any two (2) bedroom apartment shall be four (4) persons.

 

NUMBER OF VEHICLES: The maximum number of vehicles permitted to be parked at the property shall be limited to two (2) for a one bedroom apartment and three (3) for a two bedroom apartment. NO MOTORCYCLES, COMMERCIAL VEHICLES OR MOTORHOMES ARE PERMITTED TO BE KEPT AT THE PROPERTY AT ANY TIME.

 

SELF EMPLOYED/RETIRED:  If self employed or retired, the applicant must provide proof of income by furnishing copies of filed Federal Income Tax Returns for the past two (2) years, a current certified financial statement, or photocopies of the applicant’s three (3) most recent bank statements showing proof of the applicant’s ability to pay the rent for the entire lease term. In the absence of such proof, the application will be denied.

 

CRIMINAL HISTORY: Any applicant with any felony or misdemeanor (except minor traffic violations) conviction within the past seven (7) years will not be accepted. In addition, any applicant currently under indictment or with charges pending for any criminal offense (except minor traffic violations) will not be approved until proof is furnished that said indictments and/or charges are dropped.

 

PETS:   Each property has specific restrictions regarding the type, size and number of pets that may be accepted, if any. You will be provided a copy of these restrictions upon application.

 

 

  • In the event that any minimum requirement contained within this document is in conflict with any Local, State or Federal rule or law, the appropriate Local, State or Federal rule or law will prevail.

 

  • We do not discuss individual credit reports with Applicants. You will be provided with the name, address and phone number of the credit bureau we used, and you must contact them directly if you dispute anything they reported to us about your credit.

 

  • YOUR RENTAL APPLICATION FEE IS NON-REFUNDABLE, regardless of the circumstances. Please review these policies carefully before submitting an application. WE WILL NOT REFUSE TO ACCEPT YOUR APPLICATION, HOWEVER, IF YOU DO NOT MEET OUR RENTAL QUALIFICATIONS AS STATED IN THIS DOCUMENT, YOUR APPLICATION FEE WILL NOT BE REFUNDED.

 

 

 

If you have any questions regarding these policies, please ask to speak with the Property Manager of the (COMPANY NAME) Community you are applying to.

 

THANK YOU FOR CONSIDERING OUR COMMUNI