Rental Policies and Procedures

Please read the following policies.  If you feel you meet the guidelines for qualifying, we encourage you to submit an application.

Income

• Applicants must provide evidence that monthly income will be equal to or greater than 3 times the monthly rent. Length of employment and salary must be verified. Income from divorce, interest and other permanent income must be verified. Gifts (income) from a parent or grandparent must be verified with cancelled checks or bank statements and must have been received for three (3) consecutive months prior to application. Income from a parent or grandparent should not exceed $300.00 per month in calculation of gross income.
• Copy of prior two years tax returns required for self-employed applicants.

Past Housing Record

• Applicants must have a satisfactory two-year rental history or mortgage payment history. History will be verified. For first time apartment dwellers, verification of residency with parent will be acceptable.

Credit Criteria

• Applicant with established credit, minimum 625 credit score :
• Activity on at least two (2) installment or revolving accounts must be verified for at least six (6) months.
• There can be no more than one outstanding “three” rated account, this being an I- or R-3. Any additional “three” or higher rated accounts can be considered with an increased deposit. In this event, the security deposit will be equal to one additional month’s rent.
• Applicants with no established credit that meet the income criteria, past housing criteria and employment criteria may be approved by the property manager with an increased deposit on one additional month’s rent.
• There can be no outstanding judgments or repossessions within a two (2) year period prior to application. Judgments and/or credit rated for medical expenses are exempt from credit criteria.
• There can be no bankruptcies within a two (2) year period prior to the application. Credit must be re-established to meet conditions set forth in item #1 – Credit Criteria.
• All young adults 18 years or older, living with parents or family on premises must:
• Sign the lease
• Meet at a minimum, or credit and criminal criteria.

Roommates

• All roommate type occupancy must qualify individually and must be a party to the lease agreement. Roommates can be approved if each roommate’s income is 3 times the monthly rent and all income guidelines are followed as outlined above. All other criteria listed herein must also be met.

Identification

• Applicants must provide current state or federally issued photo identification prior to approval. Information from the identification provided will be transferred to a non-photo form and photo copied.

Criminial History Record

• A criminal background history will be verified. A felony or misdemeanor involving drug use or negotiation a worthless instrument, a violent offense or other similar misdemeanor record will cause the application to be rejected.

Students

• Full-time students that have no income may be approved with a parent as a co-signer. Parent must meet our admission guideline criteria. An alternate family member may be considered if approved by the senior property manager.
• If the student does not meet the credit criteria, a co-signer will not be acceptable.

Senior Citizens

• Applicants that are sixty-two (62) years of age or older with social security benefits must have verifiable monthly income of three (3) times the rental payment.
• A senior citizen must meet the admission guidelines for past housing and credit criteria.
• To determine income for a senior citizen, consideration will be given to the total sum of all savings, certificates of deposit, money market balances or other forms of investments. The sum of these investments will be divided by ten (10) to determine additional annual income. In the event a senior citizen is shy meeting the income requirement, then an offspring may co-sign with the parent. The offspring must meet the admission guidelines.

These guidelines may be amended from time to time without notice.