SPM Qualifying Rental
Criteria
Equal
Housing: This community does not discriminate on
the basis of race, color, sex, religion, handicap, familial status,
sexual orientation or national origin.
Identification: All visitors must present a
current Government issued identification in order to view the
community. Acceptable forms of identification are: Valid
State Issued Driver’s license, valid state issued ID card, valid
Military ID card, a valid Passport or a US Immigration and
Naturalization Services issued VISA. A copy of all applicants photo
IDs and social security cards will be made and retained at time of
move-in.
Occupants: Occupancy will be limited
to no more than three (3) persons in a one-bedroom apartment, five
(5) persons in a two-bedroom apartment or seven (7) persons in a
three-bedroom apartment. All adult occupants will be considered as
responsible residents under the Lease Agreement and will be asked
to sign the Lease as a resident.
Application for Residency: An Application
for Residency must be completed and maintained for each applicant
18 years or older who will be living in the apartment and/or
contributing to the payment of rent.
Qualifying Standards:
Rental History: Up to 24 months of
rental history may be verified on present and previous
residence. A positive record of prompt monthly payment, sufficient
notice, with no damages is expected. Eviction, Skip, or Money Left
Owing to a Landlord within seven (7) years of application date or
falsification of this application may result in an automatic
rejection.
Credit History: An unsatisfactory credit
report can disqualify an applicant from renting an apartment home
at this community. An unsatisfactory credit report is one which
reflects past or current bad debts, late payments or unpaid bills,
liens, judgments or bankruptcies. Persons declined for no credit
history may qualify with a higher deposit or additional tier
fee.
Income: Applicants must have a verifiable
income source. Acceptable income verification required may include
pay stubs consecutive for a 4 week period, a notarized letter from
the employer, the most recent W2 or 1099, or proof of assets equal
to 2.5 times the lease term. Self-employed applicants may be
required to supply the most recent IRS tax return or certified
verification from their company accountant or bank. Retired (must
provide documentation of ability to pay rent).
Criminal
Background Screening Guidelines:
***Our community does not have a blanket prohibition based
upon an applicant’s criminal history and each applicant will be
reviewed on a case-by-case basis.
CATEGORIES OF CRIMINAL
CONDUCT NO-ADMISSION
TIME PERIOD
- Non-Violent
Misdemeanors
0 YEARS
- Misdemeanors Involving
Violence
5
YEARS
- Non-Violent Felonies or
Misdemeanors
8 YEARS Involving a Firearm or
Other Weapon
- Non-Violent Drug-Related
Felonies
10
YEARS
- Felonies Involving
Violence
15 YEARS
- Violent Felonies
Involving a Firearm
20
YEARS or Other Deadly
Weapon
- Violent Felonies
Involving a Firearm
NO ADMISSION
Or other Deadly Weapon
resulting in
Great bodily harm to/or
the death of
Another.
- Crimes of a Sexual
Nature
NO ADMISSION and/or Applicant Subject
to a Lifetime
- Registration Requirement
Under a State
- Sex Offender Registration
Program
- Crimes Against
Children
NO
ADMISSION
The above time periods take into
consideration [i] the nature and severity of an applicant’s prior
criminal conduct, and [ii] the amount of time that has passed since
the criminal conduct occurred. Landlords must also take into
account the following individual mitigating factors which, if
applicable, would decrease the above time periods:
- The nature of the prior criminal
conduct and/or unusual facts or circumstances surrounding the prior
criminal conduct;
- The age of the applicant at the
time of the conduct (the younger the applicant was at the time of
the crime, the more mitigation should be given based on lack of
maturity at the time);
- Evidence that the applicant has
maintained a good tenant history regardless of the conduct (this
factor would not be considered if the applicant has no prior rental
history or an unverifiable rental history); and
- Evidence of rehabilitation
efforts (this would include, but is not necessarily limited to,
involvement in a drug or alcohol rehabilitation program, job
training program, education, but may also include a positive and
continuous employment history and other factors).
Guarantors: Will be
accepted for income qualification purposes only and they must
reside in the USA. He/she must complete a Guarantor application and
earn 3 times the monthly rent. Upon approval, Guarantor must sign a
separate addendum accepting full financial burden of lease terms in
the event that resident fails to pay monthly rent and fees due or
fails to fulfill the term of the lease agreement.
Applicants without Social Security Numbers or Individual
Tax ID Numbers: Applicants must provide I- 94, I-94W
(Immigration arrival and departure approval to be in the US) or
I-20 (International Student approval to be in the US, all
applicants on an I-20 must be registered students) The lease
end date cannot extend past the date the Non-US Citizen is approved
to be in the US. All other verifications must be met and applicant
must pay an additional deposit equivalent to two (2) month’s
“market” rent or additional tier fee as required by management.
Notification: Applicants will be informed
of the status of their application by telephone within 5 business
days from submitting the application and the required processing
fee. If the applicant is rejected, the applicant will be given an
adverse action letter with information to contact Core Logic to
request copies of the information used to determine eligibility for
occupancy. Management cannot be held responsible for inaccuracies
contained in any information obtained and is not allowed to provide
details to the applicant regarding said information.
Applicant acknowledges that application fee(s) paid at time of
submission of application are non- refundable. In the event that a
fee (holding fee or admin fee) was submitted to secure an
apartment, applicant acknowledges that they have 24 hours from
receipt of approval of application to cancel application in order
to have fee returned otherwise that fee will become
non-refundable.