Smith and Burns Apartments: Rental Criteria

EQUAL HOUSING

This community does not discriminate on the basis of race, color, sex, religion, handicap/disability, familial status, sexual orientation, national origin, ancestry, age, marital status, source of income, medical condition, or any arbitrary basis.

  • IDENTIFICATION 
  • Prospective residents must present valid state or other government-issued photo identification in order to view the community.
  • APPLICATION FOR RESIDENCY  
  • QUALIFYING STANDARDS (all applicants must be 18 years or older)
  • An application for Residency must be completed and maintained for each applicant 18 years or older who will be living in the apartment and contributing to the payment of the rent.
  • RENTAL HISTORY 
  • All rental history will be reviewed and 24 months of positive rental and/or mortgage payment history is required and will be verified based on present and previous residence. For applicants who are homeowners, permission must be granted to verify payment history with the bank or lending institution if there is a mortgage. Negative rental history is described as any damages owed, rental related debt as described above within the past forty-eight (48) months, and/or evictions filed within the past eighty-four (84) months. Applicants with insufficient credit or rental history of less than 2 years have the option to provide a qualified guarantor or an additional deposit not exceeding the amount equivalent to 2 times the monthly rent.
  • CREDIT HISTORY 
  • All credit history will be reviewed and a minimum credit score of 500 is required. An unsatisfactory credit report can significantly impact the result of the application. An unsatisfactory credit report is one that reflects past or current bad debts, collection accounts, late payments or unpaid bills, liens, judgments or bankruptcies. If an applicant is rejected or does not meet all of the qualifying criteria, the applicant will be issued an Adverse Action Letter containing; the name, address, and telephone number of the credit-reporting agency that provided the credit report.  
  • INCOME 
  • The applicant must provide verifiable gross monthly income equal to at least 3 times the monthly rent. Acceptable income verification required: 6 months’ worth of bank statements or 2 months of most recent paycheck stubs. Other additional acceptable documents include but not limited to: current offer letter within a one-month period, proof of government payments (such as child support, alimony, welfare, social security, disability, etc.). Retirement income and investment income may be accepted at the sole discretion of management. Other supplemental income that may be considered are filed tax documents within a specific timeframe from the lease application date.
  • CRIMINAL CHECK 
  • No applicant may have been convicted involving violence, firearms, illegal manufacturing or distribution of a controlled substance, theft or destruction of property or any crime involving a minor. This will include persons who have received deferred adjudication and/or have not yet satisfied the probationary period of a deferred adjudication for any of the above-mentioned offenses. No felonies will be accepted.
  • GUARANTORS
  • In the event a guarantor is required, he/she must complete an Application for Residency and meet all of the Guarantor Qualification Criteria and is required to meet 6 times the monthly rent. A guarantor will be fully responsible for the Lease Agreement if the occupying resident(s) default on their financial obligations.

EVALUATION

Management evaluates the above information with a scoring method that weighs the indicators of future rent payment performance.

  • PETS
  • Two pets allowed per apartment with a 70 lb. combined weight limit each at full maturity. A photo of each animal must be taken by management and shot records provided prior to move in. Per Pet: $35 monthly pet rent per pet.

APPLICATION FEE:    $40.00 per individual Applicant – Non-Refundable

SECURITY DEPOSIT:   $250.00 is charged at application- Please Note: Upon possible denial and/or cancellation, a request for refund may take up to 14 days. 

This is to confirm that by signing below, I read and fully understand the above Resident Qualification Criteria: