After years of careful investing, we’ve found that these standards give us the best chance of finding a quality renter, without being so strict that only a saint can apply.
Tenant Qualifying Criteria
- An identity confirmation completed by Leasing Agent
- Review of state-issued photo ID and Social Security card
- Social security number on the application must match the number on your social security card
- At least 12 months of steady current employment with verifiable payments
- 3x gross rent in gross verifiable income
- Proof of Income: Most recent month’s bank statements for W2 employee OR last year’s personal taxes and last 90 days of personal bank statements for 1099 or non-W2 employee
- Score minimums & collections limits vary by rent band. Minimum credit score of 500 is required.
- 5-year prohibition on prior Landlord collections and evictions
- 5-year prohibition on bankruptcy
- Guarantors have higher qualifying criteria on credit factors
- No violent felonies
- No financial or drug distribution felonies last 7 years
- No recent felonies
- No recent violent misdemeanors
- Alcohol/traffic citations exempted
- At least 12 months of rental history
- Fewer than 10% late payments
- No issues with pets, deposits or lease terms
- 3-year prohibition on evictions
- All adults must pass qualifying criteria and be fully screened
- Income is cumulative (total added together for household approval),
- Credit is supplemental (good credit can outweigh bad)
- Rental history, eviction, and criminal checks are primary (issues with any applicant on these items will disqualify the entire application)
