RENTAL CRITERIA

Thank you for considering a ResProp Management property as your prospective apartment residence. To facilitate your decision-making process, the following pages outline our qualifying criteria. All applicants are required to read and sign these criteria guidelines.

DISCLAIMER: This community will not discriminate against any person based on race, color, religion, sex, national origin, familial status, handicap status, or any basis in accordance with the Fair Housing Act. 

OCCUPANCY STANDARD:
The maximum occupancy standards are listed below.

AGE REQUIREMENTS:

• Lease Holder(s) must be 18 years of age or older (Except those protected by familial status).
• All applicants 18 years of age and older must fully complete, date, and sign a separate application.

IDENTIFICATION REQUIREMENTS:

• All applicants must provide a valid Social Security Number.
  ** Applicants without a social security number are required to submit a valid government-issued (State issued identification card or Driver’s License) photo identification for verification, along with a valid government-issued passport.
• Applicants who are not citizens of the United States must fill out an additional supplemental application.
• A non-refundable application fee must be paid for each applicant 18 years of age and older for processing credit and criminal background.

INCOME REQUIREMENTS:

• The gross monthly income of all Leaseholder(s) will be considered jointly, and must equal no less than 3 times the monthly rent amount of the apartment. 
• Income is subject to be verified via a third party source for fraud detection, along with agents contacting the listed employer to validate employment and income status.
• Submitting income documentation is consenting to the above.
• Prior to approval, all income must be verified by obtaining one of the following:
• Copies of last two consecutive payroll check stubs with YTD total showing two months of employment
• Previous year W-2 or 1099
• Copies of last two consecutive bank/financial statements demonstrating monthly deposits equivalent to 3 times the market rent amount
• Proof of child and/or spousal support payments
• Proof of social security income, disability, or other government income
• Proof of retirement or trust fund income
• Signed offer letter for income/employment verification, either for a new position where paystubs have not yet commenced or for a job with a start date within a maximum of 7 days after the move-in date.
• Proof of assets through bank statements that show at least 3 times the market rent of the apartment for the lease term
• Self-employed applicants must provide previous year's personal income tax return and two months of personal bank statements as evidence of sufficient income of at least 3 times the market rent amount of the apartment. Lease Holder(s) that hold a job that is based mainly off of tips, bonuses or commissions will be considered self-employed.
• Students who do not meet the income requirements will need a qualified cosigner.
  
  

GUARANTORS:

• A guarantor will be accepted only for a lack of rental history, lack of credit, or not meeting income requirements as stated above.
• Guarantors will not be accepted as a substitute for negative rental or credit history.
• Guarantors will be held responsible for the lease and any other costs incurred on the lease such as damages should the occupying resident(s) default.
• Guarantors must fill out an application and will be subject to application fee(s), rental/mortgage verification, credit and criminal background checks.
• Provide proof of income at 5 times the monthly market rent of the apartment (reference income requirements for verifiable income documents)
• Guarantors must complete and sign a lease guarantee agreement if approved.
  
• A guarantor can co-sign for only one apartment across all ResProp Management properties.

RESIDENCY:

• Previous rental history (Lease and Ledger) may be thoroughly reviewed and must exhibit no derogatory references in the last 7 years, including but not limited to 2 or more NSF fees or late payments in the most recent 12-month period.
  ** It's essential that your name has been on the lease or loan agreement, as rental references from friends or family will not be considered as part of your history.
• All debt owed to an apartment community must be satisfied.
• Satisfied or dismissed evictions (over 5 years old) are considered with proper documentation.
  
  

CREDIT REQUIREMENTS:

• Accounts with a significant derogatory amount will negatively affect the overall scoring, which could result in the denial of the application, or an additional deposit may be required.
• Outstanding debts will negatively affect the overall scoring, which could result in the denial of the application, or an additional deposit may be required.
• Bankruptcy if not cleared will negatively affect the overall scoring, which could result in the denial of the application.
  
  

CONSUMER CREDIT REPORT SCORING:

• Credit History will be verified by a third-party verification service.
• If your application is denied or is accepted with conditions, the community will provide you the name, address and telephone number of the consumer reporting agencies which provided your consumer information.

CRIMINAL HISTORY:

• Misdemeanor and/or Felony convictions consisting of but not limited to theft, forgery, fraud, assault, robbery, and violence with force to injure or harm another person are considered and may result in a denial of the rental application.
• Misdemeanor and/or Felony convictions are reviewed and considered in accordance with the state law requirements.
• Applicants must pass the OFAC (Office of Foreign Control) and Terrorist Watch list Search. Any persons listed will be automatically declined.
  
  

APPLICATION FEE:

A non-refundable application fee is required per residential application. A separate, non-refundable application fee is required per corporate application.

SECURITY DEPOSIT REQUIREMENTS:

All rent, deposits and fees must be paid via online portal or through a paylease Cashpay Station, NO CASH, MONEY ORDERS, or POST- DATED CHECKS will be accepted for rental payments.

PET REQUIREMENTS:

• A non-refundable pet fee and/or pet rent may apply.
• Pet restrictions may apply in the community.
• Exotic and poisonous animals are not allowed in the community
• Prior to move-in or when a pet is acquired you must provide management with a veterinarian certificate of health with the following information: name, breed, age, weight, shots or vaccinations and spayed/neutered. You must provide a picture of the pet(s) for our records.
• A maximum of 2 pets per apartment.
• Pets designated as service animals to accompany a resident with a verifiable disability for specific purposes of aiding that person will not be charged pet fees. All verifiable documents must be provided to management prior to move-in (Reasonable Accommodation Form).
• Reference the Pet Addendum for details of the pet policies.
  
  
  

ADDENDUM TO THE APPLICATION:

I ACKNOWLEDGE THAT I HAD AN OPPORTUNITY TO REVIEW THE COMMUNITY'S RENTAL SELECTION CRITERIA. I UNDERSTAND THAT IF I DO NOT MEET THE COMMUNITY'S RENTAL SELECTION CRITERIA OR IF I FAIL TO ANSWER ANY QUESTION OR GIVE FALSE INFORMATION THE COMMUNITY MAY REJECT THE APPLICATION AND RETAIN ALL APPLICATION FEES, ADMINISTRATIVE FEES AND DEPOSITS AS LIQUIDATED DAMAGES FOR ITS TIME AND EXPENSE AND TERMINATE MY RIGHT OF OCCUPANCY.

  APPLICATION DISCLAIMER