Application Approval Criteria

Accepted Applications must meet the following criteria.

Minimum Credit Score: TransUnion 600 (See Additional Risk Rent)

Minimum Income: Monthly gross income must be at-least 3 times that of rent, this includes Additional Risk Rent, but does not include pet rent.

Accounts in Collections: Total amount currently in collections does not exceed 3% of the applicant’s calculated yearly income.

Animals on Premises: Only small pets will be considered and must be listed in the application if they’ll be residing on the premises. A non-refundable pet deposit and separate rental fee applies to pets. However, qualifying assistance animals, as defined by the Office of Fair Housing and Equal Opportunity (FHEO), are allowed and do not require any extra deposit or monthly fee so long as written verification of the animal’s medical necessity to a listed person residing at the residence is promptly provided to the landlord or with the application.

Rental History: At-least one year of rental history is required or rent covering the month of move out must be provided at lease signing.

Eviction History: No prior evictions.

Criminal History: No history of violent crime convictions involving adults in the last ten years. No history of violent crime convictions involving children, regardless of the amount of time that’s passed. Other felony and misdemeanor charges will be reviewed on a case by case basis to evaluate safety to other residents, support staff and fixtures.

Additional Risk Rent

In some circumstances a prospective tenant’s credit score may be below 600. This is considered a higher risk applicant and as such, an additional fee is imposed as part of rent to this added risk. This fee is calculated by taking the Minimum Credit Score minus the primary applicant’s TransUnion credit score, as determined in their application. The difference is then multiplied by 0.002 and the result is rounded to the nearest 5 dollars.

Example: Tom has a credit score of 548 and would like to rent an apartment listed at $1300/mo. Assuming Tom otherwise meets the application acceptance criteria, he’d have an additional risk rent fee. His rent fee would be calculated by taking 600 minus 562, making his score 38 points off from the minimum. We take this multiplied by 0.002, giving us 0.076. We multiply that number times the monthly rent of 1300, getting 98.8, and round the resulting number up to the nearest 5, giving us $100. This is the monthly amount extra Tom would need to pay, making his rent $1400/mo.