Crestview Villa Apartments - Terms and Conditions

Terms and Conditions

TENANT SELECTION POLICY

INSTRUCTIONS

Please be sure to read the following criteria before submitting a completed application.

All applicants must meet the minimum requirements for employment, income, rental, and credit history. Final recommendations will be dependent on the ability to pay rent, housing history and credit history.

Applicant MUST provide the following:

Photo ID:

• Provide Positive Government Issued Photo ID by each applicant such as the following:
• Driver’s License
• Military ID
• Employment ID
• State ID Card
• Visa
• Passport
• Any Documents from the Suggested Alternative Documents Form (attached)

Ability to Pay Rent:

• Monthly verifiable income MUST be equal to at least 3 time the monthly rent amount, determined in accordance with Section 14.08.40.F of the Seattle Municipal Code. If income is less than 3 times the rental amount it may require a qualified co-signer or result in denial.
• Acceptable documentation for verifiable income varies based on the income source.

Documents Proving Income:

• Employed- Most recent check stub with year-to-date earnings AND proof of gainful employment for 6 months or longer with current employer and/or 2 years in the same field with income verification through direct contact with employer.
• Self-Employed- Tax returns for the last 2 years
• Military- Leave and Earning Statements. Military recently assigned to area are required to provide a copy of military orders and officer contact information.
• Retired- Copies of deposit slips, Investment Earnings, and /or Social Security Earnings Documents, Bank Deposit History.
• Additional Source of Income- Child support, Trust fund, Government Award letters Bank Deposit History, ETC.
• Final recommendation will also be dependent on income, rental, and credit history

Housing History:

• 24 months valid, verifiable favorable rental history from the previous Landlord or property manager. If rental history is less than 24 months, than a co-signer may be requested.
• Record of late payments, NSF checks and /or noise complaints within 24 months may result in denial.
• Landlord contact information as references for the past 2 years. NOTE If past or present Landlord(s) do not respond to requests for information within 48 hours of being contacted that may result in denial due to unavailability of favorable rental history.
• Documentation may include written lease or month to month agreement OR mortgage statements for the last 24 months
• Final recommendation will also be dependent on income, rental, and credit history.

Credit History:

• Minimum a credit score of 620
• All open accounts must be in good standings for 2 years
• Derogatory credit history, insufficient lack of credit may result in denial
• Credit report will be a “hard hit” inquiry
• Open Bankruptcy may result in denial
• Civil judgement and/or collections for rentals and or utilities may result in denial
• Final recommendation will also be dependent on income, rental, and credit history.

Section 8 or Other Housing Subsidies Application Criteria:

• Copy of the Section 8 or Other Housing Subsidy Approval Letter for Unit Size and Household Size or Letter of documentation approving Subsidy Approval for the applicant and duration of subsidy
• All Section 8 or Other Housing Subsidy applicants are required to meet the same criteria as stated above, with the exception that the applicant only need to meet income requirements for their portion of the rent.

Cosigner Qualification Criteria:

A cosigner will be APPROVED if all the qualifications is met, if the cosigner does not met ant one of the following criteria, then the cosigner will not qualify. Cosigner MUST fill out an application and if approved be willing to sign the rental agreement.

RENTAL HISTORY
• 2 years of valid and verifiable rental or mortgage history with no late payments.

CREDIT HISTORY
• Al least 4 accounts in good standings for 2 years with less than $500.00 in derogatory credit
• Minimum credit score 800

EMPLOYMENT
• 2 years with current employer or previous employment in the same field
• Must show proof of income

INCOME
• 5 times the rental amount of the unit in verifiable. garnish-able income

Grounds for Denial (Adverse Action) Based on the Following on ALL Applicants:

• Verified unpaid eviction showing on credit report or confirmed with Landlord
• Unpaid rental collection verified on credit report
• Balance owed to Landlord
• 1 or more late payments, NSF checks, and/or noise complaints within 24 months rental period (current and/or previous)
• Falsification of rental application
• Breaking lease agreements that will result in collection filing
• If you have any mitigating factors, you would like us to consider, please provide additional information.

• NOTE the following may result in denial:
1. Reasonable likelihood that a past history of abuse and alcohol may or will interfere with the health, safety, or rights of peaceful enjoyment by other members of the community.
2. Reasonable likelihood that a past history of use illegal drugs (or unauthorized use of legal drugs) may or will interfere with the health, safety, or rights of peaceful enjoyment by other members of the community.
3. Reasonable likelihood that a past history of applicant or those acting under his or her control will interfere with the health, safety, or rights of peaceful enjoyment by other members of the community,
4. Any criminal conviction which results in a registered sex offender requirement and/or any current sex offender registry requirement.

Applicant’s Rights for Consumer Report:

• You have the right to obtain a free copy of the consumer report in the event of a denial or other adverse action and to dispute the accuracy of information appearing in the consumer report.