APPLICANTS
IDENTIFICATION
INCOME
GUARANTOR REQUIREMENTS
RENTAL HISTORY
Applicants should have a minimum of 12 months satisfactory rental history or proof of home ownership.
Satisfactory history is defined as:
no more than two (2) late payments
no more than two (2) returned checks
adequate notice to vacate
no outstanding financial obligations to the landlord
The previous landlord must state that they would be willing to re-rent and/or they have no documented breaches of the lease agreement.
Applicants with less than 12 months of verifiable rental history may be required to pay an increased security deposit.
First-time renters may be required to pay an increased security deposit. No rental history is not in and of itself an automatic reason for denial.
Applicants with a negative rental history and/or collection items from a previous landlord could be denied. Additional addresses obtained from credit reports may be questioned and/or verified.
CREDIT
All applicants will have credit screening through a third-party credit information service that will determine eligibility.
The establishment of at least two current accounts for a minimum of 1 year is preferred.
The following may result in an increased deposit or denial:
Derogatory credit history (past due accounts, collections, judgments, tax liens, charge off (excluding medical debt and student loans) in excess of $500
Discharged bankruptcy
All bankruptcies must be discharged for a period greater than 2 years
Paid rental collection and/or judgment
Paid evictions with current positive rental history of at least 12 months
Foreclosures
Foreclosures reported greater than 2 years ago may be approved with an additional deposit provided the monthly mortgage payment listed on the applicant’s credit report was greater than the proposed monthly rent.
Tax Liens
Tax liens may impact the applicant’s overall screening recommendation.
Immediate deniable factors include:
Open bankruptcy
Any eviction reflected on the credit history, rental verification, or through court records within the last 12 months
A guarantor may not be used if an applicant is denied based on credit history.
CRIMINAL HISTORY
Criminal background screening is required for any person aged 18 and over.
Depending on the offense, applicants with certain felony records may not be approved, regardless of the amount of time elapsed. Such felonies include (but are not limited to) high-level property, violence, fraud, family relations, weapons, organized crime, and drug-related offenses.
Applicants with certain felony or misdemeanor records within the last 7 years may not be approved.
Two or more misdemeanors within a three-year period may not be approved.
Any registered sex offender or applicant that has records of a sexually based offense will be denied indefinitely.
A guarantor may not be used if an applicant is denied based on criminal history.