Resident Selection Criteria Qualifications

RESIDENT SELECTION CRITERIA 
Revised February 2016
 
Welcome to our community! Before you apply to rent an apartment home in our community, please take the time to review this screening policy. All persons 18 years of age or older, not dependents, will be required to complete separate rental applications. Applicants with adult dependents, and applying for residency will complete a joint application. The term "applicant(s)" under this policy means the person or persons that will be signing the Lease as "residents"; the term "occupant(s)" in this policy means the person or persons that are authorized occupants under the Lease. It is the policy of this community to comply with all applicable fair housing laws including those which prohibit discrimination against any person based on race, sex, religion, color, familial status, national origin or handicap. 

1. Occupancy Guidelines - The following occupancy standards apply based on 2 persons per bedroom, plus one per apartment. 
 
One Bedroom- Three Persons
Two Bedroom- Five Persons
Three Bedroom- Seven Persons

*Residents who exceed these occupancy standards during the lease term, will be required, upon the end of the current lease term, to either:

i. Transfer into another available apartment which has more bedrooms; or Move out 
ii. Rent for the new apartment will be at the rental rate at the time the lease is entered into the new apartment.

2. Age- Applicants must be 18 years of age or older unless deemed to be an adult under applicable law with respect to the execution of contracts. In respect to property jurisdiction within state law some applicants will be required to provide current proof of emancipation. 

3. Credit- A credit report will be completed on all applicants to verify credit ratings. Income plus verified credit history will be entered into a credit scoring model to determine rental eligibility and security deposit levels. Unfavorable accounts which will negatively influence this score include, but are not limited to: collections, charge-off, repossession, and current recent delinquency; and open bankruptcies and/or bankruptcies that fall within a 3 year period will result in an automatic denial of the application.
 
ADDITIONAL APPLICATION DEPOSITS WILL BE REQUIRED FOR ALL CREDIT RECOMMENDATIONS BELOW AN ACCEPT LEVEL, NOT INCLUDING A DENY RECOMMENDATION.

Refer Credit Recommendation occurs on applicants with little or no credit history. In such cases, additional checks for rental and income/employment will be completed. If the criteria are met in these checks, an additional deposit or guarantor will be required. On rental history, applicant must have 6 months of positive rental history within the past 24 months. (Please refer to Clause 8 of this document for detailed information on rental history requirements.) When no rental history exists, an additional deposit or guarantor may be required. A criminal background check must be approved before further approval consideration is given.

4. Income- Gross income for all applicants in one apartment home will be combined and entered into the credit scoring model for income eligibility. All applicants will be asked to produce consecutive and most recent pay stubs for the last 4 weeks from Application Date. If handwritten pay stubs are supplied, the documents must be validly notarized to be deemed sufficient. Applicants must have a minimum combined gross income of 2.5 times the monthly rent. Additional sources of verifiable income may be considered. These sources may include: child support, grants, pensions, GI benefits, disability, trust funds, social security and savings accounts. (The applicant must supply six current consecutive months of bank statements if any of the additional sources of income listed above cannot be provided directly from the supplier.) Some credit scoring results will necessitate further income verification. In such instances, verification with employer will be completed or applicant may be asked to produce additional financial statements records. 

5. Employment- If employment is to begin work shortly, the applicant must provide a "letter of intent" to hire from the employer. 

6. Self-Employment Retired or Unemployed- Such applicants must provide the previous year's income tax return and the previous two month's bank statements, or twelve months of financial statements and must exhibit no negative references. Seasonal employment must be verified by providing the prior year's tax return. 

7. Criminal History- It is the policy of this community to obtain information on past criminal activities of prospective residents. Such criminal information may include arrests, convictions and pending criminal actions. This community shall not deny applicants solely on the basis of arrests or pending criminal actions. Those may be included with other factors that may as an aggregate be determined to warrant denial. This community shall not allow persons who are on any sex offender list. Likewise, persons with criminal convictions which relate to the manufacture or distribution of controlled substances shall be denied. Persons whose convictions relate to possession of controlled substances may be accepted if they provide evidence of completion of a treatment program. Persons who have convictions involving violence, gang activity, arson, and injury to persons will be required to provide additional information to establish that they do not pose a risk to the property or the other residents. In evaluating prior criminal history, this community will consider the type of crime, severity of the crime, and the length of time since conviction and release. Terms and conditions of parole and probation may also be considered. Each case will be evaluated on a case by case basis. Denied applicants may petition for reconsideration by providing additional information regarding mitigating circumstances and other information that may assist the community in a review of the applicant’s criminal history. 

8. Rental History- Some credit scoring results will necessitate an evaluation of verifiable rental or mortgage payment history for the last 24 months. In these instances, applicant must have a minimum of 6 month’s cumulative verifiable rental or mortgage payment history within the last 24 months. In such instances, if a previous landlord cannot be contacted, 6 consecutive months of proof of payment must be verified and a copy of the lease contract must be provided. Applicants not having verifiable rental or mortgage history may have to pay an additional deposit equal to one month’s rent. When applications also depend on the results of a rental history investigation for an approval/ denial determination, applications for residency will automatically be denied for the following reasons: 

i. An outstanding debt to a previous landlord or an outstanding NSF check must be paid in full 
ii. A breach of a prior lease or prior eviction or in the process of eviction of any applicant or occupant

9. Guarantors- Guarantors will be accepted for applicants do not meet the required rent-to-income ratio or denied on credit. Only two guarantors per apartment is permissible. For guarantor-supported applications, an additional application fee will be required. The deposit will be based on the credit analysis. The guarantor will be required to complete an application and pay a full application fee. Guarantors must have a gross monthly income of 5 times the monthly market rent and meet all other qualifying criteria identified in this screening policy. The guarantor will be asked to sign a Guaranty of Resident Obligations to support the application. Guarantors may be relatives or an employer; friends may not serve as a Guarantor. 

10. Animals- No more than two animals are allowed per apartment. Animals must be no less than one (1) year of age. Aggressive breeds will not be allowed. See list below for animals not allowed. A $350.00 non-refundable animal fee and $35 Pet Rent and prior approval from management will be required. 
 
RESTRICTED ANIMAL/ BREED LIST 
(included but not limited to) 
(Note: Service/Companion animals may not be subject to this list) 


Breeds of Dogs: 
Pit Bulls 
Rottweilers 
Presa Canario 
German Shepherds 
Huskies 
Malamutes 
Dobermans 
Chow chows 
St. Bernard’s 
Great Danes 
Akitas 
Terriers (Staffordshire) 
American Bull Dog 
Karelian Bear Dog 
Any hybrid or mixed breed of one of the aforementioned breeds Poisonous Animals: Tarantulas Piranhas 
Exotic Animals: Reptiles (snakes, iguanas) 
Ferrets 
Skunks 
Raccoons 
Squirrels 
Rabbits 
Birds (parrots, cockatiels, macaws)

11. Vehicles- 2 vehicles are allowed per apartment. Vehicles must be operational and have current registration and inspection. Boats or trailers are not allowed at any time. 

12. Renter's Insurance Requirement- This community requires all residents to carry a minimum of $100,000 Personal Liability Insurance coverage. In addition, we ask that you identify the apartment community as a "Party of Interest" or "Interested Party" (or similar language as may be available) on the renter's liability insurance policy. Proof of this coverage is required at lease renewal. Although you may select any insurance provider. 

13. Water Furniture- Water furniture will only be allowed in first floor apartments with proof of fully paid insurance for the term of the lease. 

14. Deposit Levels- The results of the credit score module will determine the amount of Application Deposit.

15. Falsification of Application- Any falsification in Applicant's paperwork will result in the automatic denial of Application. In the event that an Applicant falsifies his/ her paperwork, owner has the right to hold alt deposits and fees paid to apply towards liquidated damages.