Income:
- Lessee must earn 3 to
4 times the rental rate per month depending on the property location.
- Total income for husband and wife will
be used to approve applicants.
Employment History:
- Applicants must provide proof of employment and income. Current and previous employment information must be provided. Please
also provide paycheck stubs from the last two pay periods, W-2’s or hire letter.
Ø
If applicant is self-employed, please provide a copy of prior year’s tax return.
Ø If applicant is
retired, please provide proper retirement documents showing income.
Rental History:
· All
applicants must have an acceptable rental history. The following questions are typically asked to document rental history:
Ø Was rent
paid on a timely basis?
Ø
If rent was paid late, how many times was it late?
Ø Were there any complaints
of any type?
Ø Were there any checks returned due to insufficient funds?
Ø Would you re-rent?
· The
applicant must have at least one year of acceptable rental history.
·
If the applicant has just moved out of parent’s home, dorms or has no rental history
then job stability, income and credit must be in good terms. In some cases a co-signer or an extra deposit could be
required.
· We will not accept applicants that have been evicted, skipped or caused major damage to previous or current
residences, or have had foreclosure within the past two years.
Credit:
- Good credit must be established.
- An extensive, negative credit history
is grounds for denial of the application.
- If some questionable credit history does exist, an excellent rental/employment history is required. Also,
an additional or higher deposit may be required.
Co-signers:
·
Co-signers income must be 5 times the rental rate per month.
· Co-signers will
be screened and expected to meet the same criteria. However, the credit for the co-signers must, without exception,
meet our highest credit rating.
·
A co-signer has to be an immediate family member, such as mother, father, brother, sister,
uncle, aunt, or grandparent.
Criminal
Background:
·
A criminal background check will be done on all applicants.
·
Applicants with a felony on their criminal background will be denied.
