Leasing Application Requirements
- Completed application
- Application Fee -$15 per adult (18+ yrs) via cashiers check or money order
- Holding Deposit- $200, this is credited to the security deposit (separate cashiers check or money order from application fee)
- Copy of a current, valid ID for each applicant (drivers’ license or passport)
- Proof of Income -payroll stubs for the last month, 1099’s or W-2’s, and/or a tax return for the previous year
- Berth Landlord’s Verification - Please have complete, verifiable landlord information for the last two (2) years, full residence address, city, state, and zip code, as well as current telephone and fax numbers.
Qualifications
- Applicant(s) must make minimum income of 4 times the monthly rent (i.e. 4 X $375 = $1500/month), otherwise an additional security deposit may be required.
- Landlord’s Verification –we must be able to get a hold of the previous landlord(s) and verify rent paid and whether or not there were any lease violations.
The different reasons for declination or certain restrictions are including, but not limited to what is listed below. If an application(s) for a unit (applicant or co-applicant) falls under any of the conditions listed the following may apply: concessions may be forfeited or amended, a double security deposit may be required or the application may be declined.
Forfeiture of full or partial concessions and/or double security
- Applicant lacks one of the following: credit history or rental history that is verifiable through the previous property manager(s)
- Income does not meet qualification standards
- Outstanding debt exceeds 25% of the income
- Applicant is unable to provide standard paystubs showing year to date earned and/or most recent year’s personal tax returns/W2’s/1099, et cetera
- Bankruptcy in history
- Sporadic late or missed payments
Declination
- Accounts in collections
- Tax liens
- Recent bankruptcy
- Excessive late or missed payments
- High debt to income ratio
- Applicant lacks both credit history and rental history that is verifiable through the previous property manager(s)
- If applicant falls under two or more of the following:
— Applicant lacks one of the following: credit history or rental history that is verifiable through the previous property manager(s)
— Income does not meet qualification standards
— Applicant is unable to provide standard paystubs showing year to date earned and/or most recent year’s personal tax returns/W2’s/1099, et cetera
— Applicant has an eviction on his/her record.
— Any information on application proves false.
— Applicant has a non-service animal (cats are allowed w/ deposit).
— Previous landlord verification states one of the following:
— Returned or NSF checks
— An eviction was filed
— Frequent late payments
— Lease terms were breached (noise complaints, vandalism, etc.)
