Rental Criteria

I.   CONCESSIONS

  1. OFFERS

 Quick Return Offer (QRO)

    1. Limited to four (4) calendar day time period from date prospect receives application.
    2. Prospect has up to the fourth (4th) day to return information required/requested.
    3. Receipt date of the last piece of missing documentation becomes actual received date of application.
    4. Stated amount in qualifying advertisement.
  1. Discounts & Credits
    1. Amount varies from $0 to stated amount in advertisement at time of application.
    2. Amount varies dependent upon screening.

  3.   Application Fee Special

                            a.     Application must be approved to qualify. b.     Upon approval, $25 of each $50 application fee paid by applicant(s) will be credited toward move-in costs. c.     Application fee credits not refundable if applicant chooses not to move in.
  1. ELIGIBILITY

  Application must be approved to be eligible for concessions.

  1.  Dependent upon screening as a whole.
  2.  Failure of one or more screening criteria may result in reduced or no Discounts & Credits.
  3.  Eligible for QRO if all Application Requirements are met within the four (4) day time limit.
  4.  Complete Application Requirements:
    1. Must complete all requirements listed on Application & Required Documentation, Page 3.
    2. Date/time stamped and manager initials at top right corner (when given to applicant).
    3. Date/time stamped and manager signature at bottom (when returned to manager).
    4. If no date/time stamp is present, only the current discounts & credit concessions will apply (No QRO).
    5. Online applications complete within four (4) days of submission will be eligible for the QRO.
  1. LIMITATIONS

  Not always available and may be withdrawn at any time.

  1.  Not available for Resident transfers between units or complexes.
  2.  Only available with a twelve (12) month lease.
  3.  Shorter lease terms may be available with no concessions and increased security deposit.
  4.  Move-in funds must be paid in full at lease signing by certified funds.
  5.  No changes to terms of the Rental Agreement.
  6.  No third-party funds accepted, unless received from government sponsored or non-profit agency at or before move-in.
II.   STANDARD CRITERIA AND RESIDENT SCREENING PROCESS
  1. OCCUPANCY POLICY
  1. Based on number of bedrooms (space used primarily for sleep, with one window and closet).
  2. Two (2) occupants per bedroom plus one (1) additional occupant.
  3. Other occupant(s) allowed if under two (2) years of age, staying with:
    1. Parent(s).
    2. Other adult(s) having legal custody.
    3. Or by other exception under federal or state fair housing statutes.
  1. SCREENING CRITERIA
  1. Failure of any of the below requirements may result in reduced or no concessions, higher Security Deposit, and/or denial depending upon the screening as a whole.
  2. INCOME REQUIREMENTS (see checklist)
    1. At least two and a half (2.5) times the monthly rent, utilities, and any pet rent.
    2. Current employment must be verifiable and/or future employment must be confirmed.
    3. Self-employed must show verifiable proof of income (see checklist).
    4. Unemployed must show legally verifiable income sufficient to pay ongoing rent.
  3. RENTAL HISTORY STANDARD
    1. Verifiable third party rental reference.
      1. Three (3) current, consecutive years positive contractual rental history (or home ownership).
      2. No past due rent (or other charges), damages, or complaints.
      3. No more than three (3) late payments and no 72-hour notices in current, consecutive three (3) year period.
      4. No NSF checks in current, consecutive three (3) year period.
    2. Three (3) years eviction-free
      1. Will review if proven solely due to loss of income.
      2. Will review with Rent Well or similar program.
      3. Must still meet all other criteria.
      4. Review does not guarantee acceptance of application.
    3. Lack of rental history or failure to meet the above standard may result in increased security deposit or denial.
  1. CREDIT REQUIREMENTS
  1. Must have verifiable credit history.
  2. Bankruptcy-free for current, consecutive three (3) year period.
  3. No outstanding bad debt, property debt, foreclosures, negative mortgage history and similar negative credit.
  1. CRIMINAL CRITERIA (Failure / Denial)
    1. Denial for any conviction involving, but not limited to, sex crimes, obscenity, or like crimes.
    2. No serious felonies involving death, injury, assault, or arson, with a date of disposition within the last fifteen (15) years.
    3. No class A or B felonies within the last ten (10) years (other than those related to marijuana).
    4. No C felonies, A misdemeanors, or equivalent by state, with a date of disposition within the last five (5) years (other than those related to marijuana).
    5. No B misdemeanors, or other misdemeanors involving theft, dishonesty, and/or related violations, child endangerment or like crimes (ORS 167.060 through 167.100) with a date of disposition in the last twenty-four (24) months.
    6. Repeat criminal conviction(s) in the past five (5) years will result in denial.
    7. No other crime(s) constituting a possible threat to physical or emotional health, safety, or property of other Residents.
    8. Pending charges will be cause for denial of application.
      1. Conditional Discharge will be considered as pending charges.
      2. If pending charges are permanently resolved in a manner that meets the above criteria, the applicant may reapply.
      3. No unit will be held.
  1. APPLICATION PROCESS FOR RESIDENCY
  1. Select a rental unit.
  2. Applicants must complete individual applications.
  3. Pay a non-refundable charge per applicant for the ordering and processing of a Resident Screening Report.
  4. Applicant(s) applying to be added to an existing rental agreement must pay the full $50.00 (fifty dollar) screening fee.
  5. The application screening process can take up to three (3) business days or longer depending on reference response time.
  6. A signed application and paid application fee starts the screening process and holds the unit chosen for 24 hours.  If all required documentation has not been turned in by that time allowing screening to be completed, the unit will no longer be held.
  7. After the 24 hour period, the earliest complete application will prevail, providing an execution deposit is paid within the required time limit.
  8. If notice to vacate for requested unit is rescinded by current resident, a comparable unit will be found if possible. If no comparable unit is available, the execution deposit, if paid, will be refunded.
  9. Verifiable valid government photo I.D. will be required for all household members that are considered legal adults for the purpose of entering into a rental contract (see “11” below).
  10. Verification of dates of birth of other occupants may be required.
  11. List all addresses where applicant lived/received mail during the current, consecutive 3-year period. Include all landlord phone numbers.
  12. All applicants must be eighteen (18) years of age or older (a minor legally able to enter into a rental contract will be eligible).
  13. Cosigners:
    1. Apply individually, subject to all screening criteria.
    2. Submit a current Rental Agreement or mortgage statement (showing monthly charges).
    3. Income must be two and a half (2.5) times monthly rent after deducting personal housing expenses (see SEC. B (2). INCOME above).
    4. If accepted, will be responsible for any and all costs and/or damages incurred if not paid by occupying resident.
    5. No right of occupancy.

III.  SCREENING INFORMATION

  1. FOLLOWING APPROVAL
  1. Pet Interview
    1. Each dog must pass a pet interview with management and have a photo taken.
    2. Management reserves the right to reject any aggressive pet. Exotic pets are subject to management approval.
    3. Any animal rejected may not move in with the Resident.
  2. Unit Not Move-In Ready at Time of Application
  3. $500 (five hundred dollars) Execution Deposit minimum in certified funds required for unit to be held until move-in ready.
  4. Execution Deposit must be paid and all applicants must sign Execution Deposit within two (2) business days of approval.
  5. Execution Deposit will be applied to your move-in costs.
  6. If the applicant fails to take possession of the chosen unit by the date listed on Execution Agreement, a comparable unit will be sought.  If no unit is available, or is refused, deposit will be forfeit.
  7. If chosen unit becomes move-in ready prior to the date listed on the Execution Agreement, applicant must take legal possession of the unit by the end of the next business day. If unable to take possession, a comparable unit will be sought.

3.    Unit Move-In Ready at Time of Application

  1. Upon approval applicant must take legal possession of the unit by the end of the next business day.
  2. If applicant fails to take possession by the end of the next business day, apartment will not be held for them.
  3. Applicant may move in later if the unit is still available.

4.    Proof of Renter’s Insurance, with a minimum of $50,000 (fifty thousand dollars) coverage, is required at or before lease signing.

5.    Move In Funds:

       a.      All move-in funds must be received on or before the date of lease signing, unless approved promissory note from a 3rd party is on file.

                         b.       All move-in funds must be certified and dated for the day of move-in or before.  NO POSTDATED FUNDS ACCEPTED.
  1. DENIAL 
  1. Failure to meet the Criminal Criteria will result in a denial.
  2. Denial of one applicant is denial for all applicants.
  3. An Adverse Action Letter will be sent from the screening company.
    1. A statement of the denial reasons.
    2. Information on your rights to dispute.
  1. REVIEW OF DENIAL
  1. Write, email, or fax written explanation of circumstances, proof of, or correction of, erroneous information to the contact information provided on the Adverse Action Letter.
  2. Attach a copy of the Adverse Action Letter.
  3. Correction of information can result in reevaluation.
  4. Review may take up to ten (10) business days.
  5. No unit will be held during this process.

                       Revised: 10/20/15