Conditional Approval Criteria

Conditional Approval Level 1: Applicants that meet the below criteria are fast-tracked.

1. 1. Credit score of 700 and above
   2. Verifiable income of 4 times the rent or more. Two most recent pay stubs shall be considered verifiable.
   3. 3 or more years of rental history or home ownership listed on application.
      
      1. No landlord references necessary. Landlords listed on application must match municipality records.
   4. Valid ID and pet screening results.
   5. For self-employed applicants, see list of Acceptable Proof of Income

Conditional Approval Level 2: Applications that meet the below criteria will require full processing

1. 1. Credit score from 675 to 749
   2. Verifiable income of 3.5 times the rent or more. See list of Acceptable Proof of Income
   3. 3 or more years of rental history or home ownership listed on application
   4. Positive Landlord/Housing References are required. Landlord listed on application must match municipality records.
   5. Valid government issued ID and pet screening results.

Conditional Approval Level 3: Applications that meet the below criteria will require full processing and be subject to a $50 monthly Risk Mitigation Fee & double security deposit.

1. 1. Credit score from 575 to 674
   2. Verifiable income of 3.5 times the rent or more. See list of Acceptable Proof of Income
   3. 3 or more years of rental history or home ownership listed on application
   4. Positive Landlord/Housing References are required. Landlords listed on application must match municipality records.
   5. Valid government issued ID and pet screening results.

Conditional Approval Level 4: Applications that meet the below criteria will require full processing & will require a qualified cosigner or double security deposit.

1. 1. Credit score from 575 and above, or has no established credit.
   2. Income less than 3.5 times the rent.  See list of Acceptable Proof of Income
   3. Rental history less than three years.
   4. Positive Landlord/Housing References are required. Landlords listed on application must match municipality records.
   5. Valid government issued ID and pet screening results.

Conditional Approval Level 5: Rental Assistance / Section 8

1. 1. Applicants who receive Rental Assistance do not have an income requirement.
   2. Credit Score of 525 and above.
   3. Double Security Deposit required for Credit Scores between 525-650.
   4. 3 or more years of positive-verifiable rental history or home ownership listed on the application.
   5. Valid government issued ID and pet screening results.

Conditional Approval Level 6: Current RR tenant who wants to move to another RR available property.

1. 1. Rent payments on time in the past 12 months: meaning rent must have been paid by the 5th or earlier every month for the last 12 months.
   2. Income/Employment Verification Required.
   3. No application or background check is needed.

I.  JOB/INCOME

1. 1. Combined Household gross income at least 3 times the monthly rental amount
      
      1.  Click here to see acceptable forms of income.
   2. Self-employed individuals must provide a personal federal tax return, from the 2 most recent years. Form 8879
   3. Applicants who are full-time students that do not meet the income requirements will be approved with a qualified Co-signer – click here to see our co-signer criteria.
   4. Applicants employed under 12 months with their current employer must provide proof of income-producing employment during at least 24 of the previous 36 months.

II.  PETS

A.  Household Pets

Must complete a pet profile with https://www.petscreening.com/ before any application is considered complete. Pet screening is a required part of the application process for all applicants. If you have a pet there is an additional pet application that is administered by a third-party animal screening tool. Additional fees may apply to pet owners – please click here for breed restrictions, sizes, and other types of animals

An Increased Security Deposit is required + Pet Rent/pet shall be charged monthly as defined in the rental listing.

B.  ESA Pets

Must complete a pet profile with https://www.petscreening.com/ before any application is considered complete. Pet screening is a required part of the application process for all applicants. If you have an assistance animal, you will need to submit the required documentation through the same website.

III.  CREDIT

1. 1. Minimum Resident Screening Score of 575 based on a tenant screening score from a third-party processor, unless property listing presents a lower standard.
   2. No more than 5 accounts delinquent, past due, in collections or charged off in the last 3 year (does not include medical related accounts or student loans)
   3. Any account, other than medical-related accounts and education loans, that show on the applicant’s credit report as 30 days or more past due will be considered delinquent.
   4. Applicants with delinquent accounts between 6 – 8 will be approved with a risk mitigation fee of $50 / month.
   5. No bankruptcies filed in the last 3 years regardless of the outcome.
   6. If the bankruptcy was filed more than 3 years prior, the applicant may have no more than 1 account delinquent, past due, or charged off in the last 3 years.

IV.  RENTAL HISTORY

1. 1. No evictions filed against any household member within three years (regardless of outcome)
   2. Three years of positive, verifiable Landlord references.
   3. Applicants with less than 5 years of rental history but more than 3 will be approved with a risk mitigation fee of $50/month.
   4. Family members, friends, and campus housing will not be used for landlord references.
   5. The applicant will be denied if the current or prior landlord report that the applicant, or applicant guests, engaged in behavior in violation of the rental agreement including, but not limited to:
      1. Disturbing the quiet use and enjoyment of the premises by other tenants and/or Neighbors.
      2. Allowing people not listed on the rental agreement to reside in the premises.
      3. Vacated premises with a balance due which remains unsatisfied at the time of application with Landlord or Property Manager.
      4. Paid rent late 20% of the time or more.
      5. 2+ NSF fees (reversed payments) in a year.
      6. Unpaid balances due to landlords or utility companies
      7. Problems with neighbors, pets, police.
      8. Damaged property
      9. Having pets in your home without the landlord’s permission
   6. Applicants who owned their previous residence will qualify for a positive reference during the time period of ownership. Proof of ownership is required.
   7. New renters with less than 3 years of rental history, including first-time renters, will only be approved with a qualified cosigner that meets our cosigner criteria. In the event a risk mitigation fee was required based on the applicant’s credit score, the approved cosigner will waive the need for the risk mitigation fee.
   8. Applicants with Landlords unable to be reached by RR totaling up to 2 of the 5-year requirement, will be approved with a risk mitigation fee of $50/month.

V.  CO-SIGNERS

 Co-signers are only accepted if:

1. 1. The applicant does not have an established credit history, or has an established credit score of over 575.
   2. The applicant is a first-time renter or has less than 3 years of rental history.
   3. The applicant is a full-time student and does not meet the income requirements.
   4. Click here to see the co-signer criteria. 

VI.  CRIMINAL CONVICTIONS

The applicant will be denied housing if he or she has been convicted of illegally manufacturing or distributing a controlled substance as defined in Sec 102 of the Controlled Substances Act (21U.S.C. 802)

1. 1. If Applicant has been convicted within the last 5 years of any crime that shows a demonstrable risk to tenant safety and/or property, Applicant may be denied rental after consideration of the nature and severity of the crime, Applicant age at the time of the conduct, and the amount of time that has passed since the criminal conduct occurred. Other factors may be considered on a case-by-case basis. The applicant shall provide any mitigating information or documentation that he or she would like the Landlord to consider regarding any convictions at the time of application.
   2. The applicant will be denied housing if he or she is subject to a state lifetime sex offender registration program