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Rental Occupancy Criteria

INDIVIDUAL APPLICATIONS MUST BE PROCESSED FOR EACH PROSPECTIVE RESIDENT 18 YEARS OF AGE AND OLDER

General Requirements:

  • A valid Government issued I.D. with a picture must match name given on application.
  • Applications are processed in the order in which they are received and only when fully completed.
  • An application is not considered ‘completed’ and is not processed until each Applicant provides;
    verifiable proof of income, adequate rental history and contact information, and a non-refundable
    application fee of $45 is paid by each Applicant.
  • Partial and falsified applications result in the denial of the application.
  • The total security deposit required is that of the least qualified applicant.
  • Applicant(s) agree upon approval of Application to pay a deposit within 48 hours of approval via
    check or online payment serving as earnest money to hold the apartment for a period of thirty (30)
    days from the receipt of the application.
  • By paying the deposit amount, Applicant(s) agree to execute a written Lease Agreement, Inventory
    and Inspection Report and pay a full-month’s rental amount for said premises no later than thirty
    (30) days from the receipt of the application.
  • Application’s withdrawn in writing less than thirty (30) days from application’s receipt forfeit
    $250.00 as a liquidated damages fee. Failure to fully execute a written Lease Agreement within
    thirty (30) days of the receipt of the application results in forfeiture of the entire deposit amount.

Income Requirements:

  • Gross monthly income must be at least three (3) times the base monthly rent.
  • Two (2) most recent paystubs or other form of verifiable sources of income are required for
    income verification.
  • Income of all applicants for an apartment is combined for qualification purposes.
  • New hires must supply an offer letter with compensation terms, formal start date, and new
    employer’s contact information on company letterhead.
  • Applicants unable to provide verifiable income sources must show a liquid asset balance of at least
    two (2) times the total lease amount.
  • Self-employed applicants must show proof of income through prior year’s tax return and a
    recorded business name must be verifiable with state records.
  • Inability to show adequate verifiable income or verifiable legal sources of income, i.e. undeclared
    tips or under the table revenue streams, results in the denial of the application.

Rental Requirements:

  • Required verification with past two (2) landlords or two (2) years of rental history including current rental history from an unrelated third party.
  • If less than two years of verifiable rental history, a credit score of 650 or greater is required.
  • Home ownership is verified through county tax assessor and applicant must show mortgage payments are current.
  • Guarantors are only allowed for student applicants and must be an immediate family member meeting all other rental criteria (Must be enrolled in two or more classes to qualify as a student).
  • More than three (3) late payments or two (2) returned checks within a twelve (12) month period or a rental eviction within the last seven (7) years will result in denial of the application.
  • History of unreasonable damage or behavior to or in apartments will result in denial of the application.

Credit and Rental Requirements:

  • Credit scores of applicants for an apartment are combined and averaged for qualification purposes.
  • Average credit score of 650 or higher requires standard security deposit of 75% of one month’s
    rent rounded up to the nearest $25.
  • Average credit score of 550-649 requires deposit equal to 100% of one month’s rent.
  • Average credit score of 549 and below results in the denial of the application.
  • In the absence of a verifiable credit score by one or both applicants, rental verification with past
    two (2) landlords or two (2) years of rental history including current rental history from an
    unrelated third party is required.
  • More than three (3) late payments or two (2) returned checks in a twelve (12) month period or a
    rental eviction within the last seven (7) years results in the denial of the application.
  • Guarantors are only allowed for student applicants and must be an immediate family member
    meeting all other rental criteria. (Must be enrolled in two or more classes to qualify as a student).

Criminal Criteria:

  • Any arrest or conviction for manufacturing, distributing, or possessing a controlled substance not
    resolved by acquittal or dismissal may result in denial of the application.
  • Any felony conviction for an offense involving actual or potential injury to a person or property
    not resolved by acquittal or dismissal may result in the denial of the application.
  • Fair Housing:

    • It is illegal to refuse to show or rent an apartment to anyone because that person is a member of a
      legally protected class. This protection also extends to discrimination against a protected person
      in the terms, conditions, privileges, or provision of services, including different rent, security
      deposit, term of a lease, qualifying application criteria, income standards, and fees or credit
      analysis.