Application Criteria
We require everyone over 18 years old who will be living in your household to submit a rental application for screening. Additional documentation, such as rental history and job/income verification, is also required for an application to be considered complete. We will not review an application until we have all of the information requested.
Every application is considered individually, but we take the following general criteria into account when reviewing completed rental applications:
● Rental history – Positive rental history. No repeated late payments, evictions due to non-payment of rent, or outstanding collections owed to apartment communities. Consideration given based upon frequency of late payments and how long ago they took place, and reasons for eviction.
● Monthly income – Net income equal to three times monthly rent. May be negotiable for an otherwise ideal applicant or with other financial documentation.
● Financial history – In most cases, applicants who have filed for bankruptcy in the last 24 months will not be approved.
● Employment – Minimum 1 year at current job, with the ability to produce pay stubs or documentation of consistent wages. Length of time at current job or self-employment may be negotiable for an otherwise ideal candidate with additional proof of stable finances or other income.
● Criminal records – No convictions for drug manufacturing, trafficking, or distribution. No felony convictions in which sentencing occurred in the past seven (7) years involving property damage, injury to persons, or failure to pay amounts owed for which restitution has not been made or for which documentation of sufficient rehabilitation is not provided by the applicant. Special consideration regarding criminal history will be given based upon the nature/severity of crime, how long ago it took place, and applicant’s age at the time.
● Credit report – Low debt-to-income ratio with no outstanding collections. Minimum credit score of 600 (may be negotiable for an otherwise ideal application). Consideration may be given to those with no credit history or scores affected by medical situations, provided the rest of the application falls in line with our criteria.
Applications that meet most but not all of our criteria may be approved with conditions, such as having a co-signor on the lease and/or being required to pay a double security deposit or several months’ rent up front.
Co-signors will be required to show proof of net income 4x the monthly rent amount, a 700+ credit score, and debt-to-income ratio (DTI) not exceeding 55%.
Applicants who will be using third party payments / housing vouchers must still meet the criteria above.
