Rental Criteria

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:

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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

  1. Non-Violent Misdemeanors                                           0 YEARS
  2. Misdemeanors Involving Violence                                 5 YEARS
  3. Non-Violent Felonies or Misdemeanors                        8 YEARS Involving a Firearm or Other Weapon
  4. Non-Violent Drug-Related Felonies                             10 YEARS
  5. Felonies Involving Violence                                         15 YEARS
  6. Violent Felonies Involving a Firearm                            20 YEARS         or Other Deadly Weapon
  7. Violent Felonies Involving a Firearm                            NO ADMISSION Or other Deadly Weapon resulting in                                                Great bodily harm to/or the death of Another.
  8. Crimes of a Sexual Nature                                           NO ADMISSION and/or Applicant Subject to a Lifetime
  9. Registration Requirement Under a State
  10. Sex Offender Registration Program
  11. 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:
  1. The nature of the prior criminal conduct and/or unusual facts or circumstances surrounding the prior criminal conduct;
  2. 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);
  3. 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
  4. 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.