A: Everyone has different circumstances, but general qualification are:
Income is verified and your net (take-home) monthly income must be greater than greater three (3) times the monthly rent.
To rent a property that leases for $1,000 per month, for example, your income must at least total approximately $3,000 per month. We require documentation of legitimate income sources, such as pay stubs, social security documentation, child support, disability, alimony, etc. Bank statements are the only acceptable form of income documentation for self employed individuals. We are unable to use unemployment income to qualify applicants for a rental property.
A good rental reference. Successful completion of a lease within the last 12 months.
We verify with your current lender or landlord that you are in good standing with good payment history. We can not use a family member for a rent reference. No sub-leases can be used as a reference. We like to see rent rates used for a reference close to the rent rate of the property you are applying for. If you rent from an apartment complex or property management company a good 12 month rent ledger is required.
No evictions or judgments from landlords or property managers in the past five (5-7) years.
If you have been evicted, or have any open judgments within the past 5-7 years, the probability of being approved is very low. Our tenancy screening pulls public records. Filings from landlords for any reason will have a strong negative impact.
No past due bills, judgments or collections from utility companies.
No felony convictions within the last 5-7 years. All bankruptcies must be discharged. We use the recomendations of a tenancy screening report provided to us by a third party on credit scores under 550. A Full Deposit May be required.
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