Rental Criteria

aPPLICANTS

Occupants of the property:

Each adult (age 18 and older) who intends to occupy the property, needs to submit an application and qualify individually based upon our company criteria.

There is a non-refundable fee of $39.99 per applicant.

Completed applications are processed on a “first come/first serve” basis in the order received with fee paid.

A completed application means, all occupants, age of 18 and older, have submitted all required documentation, including, but not limited to, income documents listed below to verify your income. Additional documents may be requested, based on information provided in your application, communications we have after the process has started and the documents you submit with your application. These need to be submitted timely to consider your application complete.

Incomplete applications will not be processed or held in line of any other completed applications until complete. Complete backup applications will not be processed until the preceding application is not approved or rescinded.

* Only for the purposes of knowing the number of individuals that will be living in the home, we will need to know about those under the age of 18.

rental criteria

References:

Landlord/Mortgage Reference:
You will need 1 year of recent (within the last 3 years) landlord or mortgage history. References, both present and past, must be verified with a third independent party ( non-family member ).

Income:

You will be required to provide documentation of permanent, stable, and continuous income. The list of required documents is listed below. Co-signers are not accepted and only the income of persons who intend to be identified as Tenants will be calculated to meet the income requirement.

Qualifying Income Amounts:

Your income level must be three times the rent amount, which is based upon the amount of rent for each property. Each applicant must show enough income to pay rent, utilities, and their existing debt. Roommates or immediate family members who have lived together for 1 year can combine incomes to qualify; roommates who have not lived together for 1 year must each verify income two and half times the rent.

Qualifying Income Verification:

Based on your circumstances we will require the documentation below.

We will need the date you started your job as well.

No application will be processed without these documents and you may lose your place in line for an incomplete application.

Employed Applicants that do not own the business - Receive a W2

1. Last 3 full months of pay stubs and current month’s pay stub(s) (example if applying in June, we need March, April, May and current ones for June pay stubs)

Business Owner/Self Employed and/or Receive a 1099

1. Last 6 months of complete bank statements 2. Last 2 years of tax returns 3. Profit & Loss Report for the current year 4. Business License 5. Balance Sheet 6. If Incorporated – All of the above documents plus balance sheet and the last 3 months of pay stubs. If you don’t have that yet, then W2 for prior year 7. If an LLC or Partnership - Items 1-4, a balance sheet and your most recent K1.

Retired/Social Security Applicants

1. Copy of pension letter and last 3 months of bank statements 2. Copy of Social Security Letter stating current years monthly amount and last 3 months of bank statements

Unemployed Applicants

1. Last 3 months of complete bank statements showing a balance that is equal to or more than the equation in #2. 2. Available applicant funds must total 9 times income requirements. (Example: $1350 rent X 3 = $4050 income requirements; bank funds must be 9 X $4050 = $36,450)

Housing Assistance:

Applicants using housing assistance are also required to provide a copy of Approval Letter from a Housing Assistance Agency showing your approved voucher amount and your share of rent of to pay.

Credit and Criminal History:

Each application is evaluated on the basis of a credit/criminal background check. Reasons for denial may include but not limited to poor credit history; debt owed to a property management company, landlord and utilities; open bankruptcy; bankruptcy without discharge papers; recent bankruptcy without positive credit history established thereafter; inadequate landlord history; eviction on record less than 5 years ago; pending lawsuit; pending criminal charges; history or criminal record indicating such tenancy may constitute a threat to the health or safety of others, the property, community or property of others and will be evaluated on a case by case basis.

Photo Identification:

Each applicant needs to submit a copy of current picture ID (driver’s license, etc.) or photo identification card. Identification is required. No application will be processed without identification and you may lose your place in line for an incomplete application.

Pet Policy:

Pet policies vary per property and pets are accepted only on a case by case basis (see pet information form of this application). The ad for the property will say if pets are allowed.

Application Agreement :

Applications need to be submitted completely, truthfully, and signed by the applicant. Your application can be delayed and/or denied if incomplete or inaccurate data is submitted and if your references fail to respond in a timely manner. Property requirements of lease terms/deposits/fee may be subject to change prior to tenancy and will be evaluated on a case by case basis.

As applicant, I acknowledge I have read and understand the rental requirements prior to submitting my application for tenancy.

District Property Management