Approval Criteria (Please note the approval process may take 3 – 4 business days)
Each applicant, 18 years of age and older who will reside at the property, must submit a separate application. The application fee for each person is $50.
- Favorable Rent History – Including not currently bound to an existing lease longer than 30 days.
- Favorable Work History
- Show an ability to pay (Currently a minimum of three (3) times monthly rent in gross income – Note: We reserve the right to adjust this minimum based on the number of applicant’s liabilities)
- Minimum Credit Score. Houses that rent for LESS than $800 per month require a minimum score of 520 and houses that rent for $800 or MORE require a minimum score of 580. Applicants with no score will be reviewed on a case by case basis. If there is more than one applicant, all credit scores will be averaged.
- Credit scores between 480 and 519 may be considered for approval contingent on the following:
- Home applied for is less than $800 per month in rent
- Applicant cannot be a participant in any housing assistance program
- Willing to pay a double security deposit
- Applicants that have filed bankruptcy must be out of bankruptcy for a minimum of one year OR make a minimum of 4 times monthly rent in gross income.
- A criminal background check that reveals no violent felonies and no history of multiple misdemeanors or violent misdemeanor offenses that could lead to safety issues for the home or the neighbors near the home.
If you apply and are approved, but you end up not moving into one of our houses, we will refund you the application fee within 90 days.
|Full Application Policy||Cosigner Policy|
What is a Cosigner?
- A co-signer is a person that will NOT be living in the property but will only serve as a responsible party that is willing to pay rent themselves if that is ever required. They must be able to provide proof of income that is 4 times the amount of rent and a Credit Score of at least 650. A Cosigner’s credit score will NOT be averaged out or have any effect on the group’s current average credit score.
- Keep in mind that a Cosigner is agreeing to be held liable for the total amount of rent of the property and not just the portion of a single individual or roommate.
- Please note that a cosigner’s sole purpose is to act as that of a responsible party and provide documented proof of income. An applicant can only request to add a Cosigner when ALL other criteria have already been met. It is only meant to help raise the proof of income in order to comply with the minimum income to rent proportion required for a specific property.
- It is also important to consider that a Cosigner must meet their own set of approval criteria.