Approval Criteria (Please note the approval process may take 3 – 4 business days)
Each applicant, 18 years of age and older who will reside at the property, must submit a separate application. The application fee for each person is $50. The application fee is refundable only upon the application being approved, and if the house you applied for is no longer available and you are unable to find another house that meets your needs.
- Favorable Rent History – Including not currently bound to an existing lease longer than 30 days.
- Favorable Work History
- Show an ability to pay (Currently a minimum of three (3) times monthly rent in gross income – Note: We reserve the right to adjust this minimum based on the number of applicant’s liabilities)
- A credit report will be obtained on all applicants to verify credit ratings. Income plus verification of credit history will be entered into a credit scoring model to determine rental eligibility and security deposit levels. This credit scoring model will include positive and negative payment history for lines of credit, usage of credit, credit history, credit availability, inquiry history, and student loans. Unfavorable accounts which will negatively influence this score include, but are not limited to: collections, foreclosures, charge-off, repossession, absence of credit, and current delinquency. Debt to a previous landlord, and open bankruptcies will result in an automatic denial of the application.
- A criminal background check that reveals no violent felonies and no history of multiple misdemeanors or violent misdemeanor offenses that could lead to safety issues for the home or the neighbors near the home.
If you apply and are approved, but the house you applied for is not available, and you cannot find another home you would like to rent from us, we will refund your application fee.
- A co-signer is a person that will NOT be living in the property but will only serve as a responsible party that is willing to pay rent themselves if that is ever required. They must be able to provide proof of income that is 4 times the amount of rent and a Credit Score of at least 650. A Cosigner’s credit score will NOT be averaged out or have any effect on the group’s current average credit score.
- Keep in mind that a Cosigner is agreeing to be held liable for the total amount of rent of the property and not just the portion of a single individual or roommate.
- Please note that a cosigner’s sole purpose is to act as that of a responsible party and provide documented proof of income. An applicant can only request to add a Cosigner when ALL other criteria have already been met. It is only meant to help raise the proof of income in order to comply with the minimum income to rent proportion required for a specific property.
- It is also important to consider that a Cosigner must meet their own set of approval criteria.