Each applicant’s screening report shall be reviewed for three types of adverse information – Negatives, Terminals and Requirements. If three or more negative items are found in a report, with no verificable extenuating circumstances, the applicant will be denied.
NEGATIVES: The following items are considered negative items
__ Any 2 credit accounts that have been rated R2 (30-90 days late) in the last year
__ Any credit account that has been rated R5 (120+ days late) in the last year
__ Any 2 credit accounts which are rated as having gone to collection in the last year
__ Any credit account charge off, discharged Chapter 7 or Chapter 13 bankruptcy, vehicle repossession, lien or any unpaid civil judgment in the last year
__ Any rental reference that includes more than 1 late payment or shows more than 1 NSF check in the last year
__ Any instance of unauthorized pets or persons occupying a unit rented to the applicant
__ Any instance of improper or lack of Intent to Vacate notice or lease broken by the applicant
__ Any employment situation which is temporary or seasonal in nature
TERMINALS: The following items shall be considered terminal and sufficient to decline application
__ Any open bankruptcy
__ Any unpaid apartment/rental collection, negative rental reference or incomplete reference
__ Any eviction or Unlawful Detainer action or any current 3-Day or 10-Day Notice
__ Any income level, or combined income level in the case of co-applicants, which does not meet the income ratio requirements
__ Any conviction for the selling of drugs or possession of drugs with intent to sell or any conviction for contributing to the delinquency of a minor
__ Any conviction for possession of a controlled substance or drug paraphernalia
__ Any registered or convicted sex offender
__ Any false or misleading information provided by the applicant on the written application or omission of a material fact
__ A total of $400 or more in unpaid, non-medical collections in the past 2 years
__ Applicants must provide 12 months of verifiable rental history. Failure to provide rental history may be considered terminal or result in increased deposit requirement
__ Automatic denial for negative rental information regarding monies owing or would not re-rent recommendation
__ Applicant(s) must provide proof of 12 continuous months of verifiable employment or a combined total of 1 year current/previous employment in the same job field. If not in the same job field but changed fields without a lapse in time, the deposit will be increased to equal 1 month’s rent.
INCOME REQUIREMENTS Gross income will be considered. Each roommate must qualify individually. The rent plus long term debt shall not exceed 49% of gross income. Those applications where the debt income ratio is exceeded or marginal shall be submitted to the property owner for final approval/disapproval.