Credit Report Verification for Leaseholders
A comprehensive credit report will be obtained for all leaseholders to assess their credit ratings. The findings will determine the applicant’s rental eligibility and the required security deposit amount. Negative accounts that may adversely affect the credit score include, but are not limited to, collections, charge-offs, repossessions, and current delinquencies.
Comprehensive Background Check
A thorough background check will be conducted for all addresses where applicants have previously resided. The application will be declined for any criminal-related issues, including any prior evictions.
Verification of Gross Annual Income
Gross annual income for all leaseholders will be verified using the two most recent payroll check stubs. Additional income sources may be considered. Self-employed or commission-based applicants must provide the previous two years’ tax returns. Monthly gross salary must be at least three times the monthly rent.
Criteria for Application Rejection
Applications may be rejected for several reasons, including insufficient income, unpaid judgments, eviction history, outstanding rental debt, criminal record, household size exceeding occupancy limits, and falsification of application information.