Rental Criteria
Every applicant over 18 years of age is required to complete a
separate application.
All consents must be completed and fees paid before processing the application. Any incomplete application will be canceled until the required information and/or payments have been made.
Once the application is submitted, all information, credit, criminal, rental history & proof of income will be completed within three business days.
Credit
Exceeding the occupancy standards is cause for immediate denial of an application.
RV Index Score: A risk assessment score. The calculation considers the consumer's credit score, Rent to Income, Debt to Income, and the Ratio between Positive and Negative tradelines. The score is combined with other responsible applicants to provide an overall risk score of those individuals. This will also allow the property to evaluate how much of a risk all the applicants pose considering their credit history.
Utility or Rental Collections
Any outstanding utility or rental debt must provide proof of the debt being paid in full within 48 hours of the screening results.
Foreclosures or Bankruptcy
The staff will only see a pass or fail for the credit screening results and are not privy to the specific details of why an applicant is approved or denied.
ID Verification
A government-issued photo ID must be submitted with each application.
Criminal
The staff will only see a pass or fail for the criminal screening results and are not privy to the specific details of why an applicant is approved or denied.
Sources of Income
Payment History
No more than three late payments within the last 12 months for rent or mortgage.
Prior Evictions
All consents must be completed and fees paid before processing the application. Any incomplete application will be canceled until the required information and/or payments have been made.
Once the application is submitted, all information, credit, criminal, rental history & proof of income will be completed within three business days.
Areas of Approval
A 3rd party screening company will screen for credit, criminal history, and rental history. The staff will review the income requirements.Credit
- RV Index Score
- Utility Collections
- Foreclosures
- Bankruptcy
- ID Verification
- Felony
- Misdemeanor
- The household’s gross monthly income must be at least three times the monthly rent
- All sources of income must be verified
- Payment History
- Rental Collections
- Prior Evictions
Occupancy Standards
Generally, occupancy will be limited to two persons per bedroom however specific factors may be considered to either increase or decrease that general rule.Exceeding the occupancy standards is cause for immediate denial of an application.
Guarantors
Guarantors are only allowed for applicants who are currently students. Guarantors must qualify on their own individual screening and their gross income must be at least five times the monthly rent.Application Fee & Deposits
- A non-refundable application fee is due per occupant over the age of 18.
- An earnest deposit of $100 per apartment is required for the
application(s) to be processed.
- If the applicant cancels before the screening results are done, the earnest deposit will be returned.
- If the applicant is denied, the earnest deposit will be returned.
- If the applicant cancels after being approved, they will forfeit the earnest deposit.
- If the applicant is approved, the earnest deposit will be deposited and applied to the remaining security deposit due.
- The remaining security deposit is due within 48 hours after the approval. This must be paid in guaranteed funds (money order, cashier’s check, or credit card).
- If any application fees and/or earnest deposit payments are returned as non-sufficient funds, it will be cause for the application for the apartment to be denied.
Definitions
RV Index ScoreRV Index Score: A risk assessment score. The calculation considers the consumer's credit score, Rent to Income, Debt to Income, and the Ratio between Positive and Negative tradelines. The score is combined with other responsible applicants to provide an overall risk score of those individuals. This will also allow the property to evaluate how much of a risk all the applicants pose considering their credit history.
Utility or Rental Collections
Any outstanding utility or rental debt must provide proof of the debt being paid in full within 48 hours of the screening results.
Foreclosures or Bankruptcy
The staff will only see a pass or fail for the credit screening results and are not privy to the specific details of why an applicant is approved or denied.
ID Verification
A government-issued photo ID must be submitted with each application.
Criminal
The staff will only see a pass or fail for the criminal screening results and are not privy to the specific details of why an applicant is approved or denied.
Sources of Income
- Two most recent paystubs
- A countersigned new hire offer letter
- Recurring guaranteed income verified with six consecutive bank statements
Payment History
No more than three late payments within the last 12 months for rent or mortgage.
Prior Evictions
- No more than one verified eviction filing within the past 24 months
- No judged eviction record within the past 60 months