Applicant is urged to review the screening criteria to determine if requirements can be met.
IDENTIFICATION – At time of application, each adult applicant (persons 18 years and over and emancipated minors) shall provide copies of two forms of government issued identification, one of which shall be a valid photo ID.
SOURCE OF INCOME – At the time of application, it shall be the obligation of the applicant(s) to provide proof of their monthly income. Monthly income shall be equal to 3 times the monthly rent and must be from a verifiable legal source. If income is within $200 of 3 times the rental amount an increased deposit and/or cosigner will be requested. Generally accepted documentation may include; if you are new hire please have your employer provide us with a business card as well as a letter on letterhead with your hire date, hourly rate of pay and how many hours you will be working on a regular basis. If employed, copies of the most recent pay stubs equaling 1 months’ pay. If Self-Employed a copy of the last year’s tax return. If you do not have a job but have an amount equal to 1 year’s worth of rent, we will consider that as your verifiable income if a bank statement is provided. Unemployment is considered a verifiable source of income.
*Due to fluctuation in tips, bonuses and overtime these items will not be considered unless 6 months of additional steady income can be shown on your paystubs. If income is based on commissions, 1 year of paystubs will be required.
HOUSING REFERENCES – The applicant(s) shall provide information necessary to verify current and previous rental history for the past three consecutive years, including Landlord names, phone numbers and fax numbers (if applicable). If the applicant’s housing during the past three years has included home ownership, mortgage payment history shall be considered. MOST CURRENT FOUR YEARS OF EVICTION FREE RENTAL HISTORY REQUIRED!! If applicant is unable to provide 3 consecutive years of verifiable rental history a co-signer and/or an increased deposit will be required.
CREDIT WORTHINESS – Credit worthiness will be based off of your credit score per the following;
Anything under 550 is grounds for denial
551 – 650 Full additional deposit will be required
Any discharged bankruptcy/ foreclosure in the last 24 months will require an additional FULL deposit. Credit not yet established will require a co-signer and/or a full additional deposit.
COSIGNER QUALIFICATION CRITERIA – A co-signer will be APPROVED if all qualifications below are met, if the cosigner does not meet any 1 of the following criteria then the cosigner will not qualify.
Rental History: 3 years of valid and verifiable rental or mortgage history with no late payments.
Income: 4 times the rental amount of the unit and must be from a verifiable legal source.
Credit History: MUST have excellent credit; NO collections, charge offs or judgements. Any bankruptcy (open and/or discharged) will result in denial.
SECTION 8 APPLICANTS CRITERIA – All Section 8 applicants are required to meet the same criteria as stated above, with the exception that the applicant only needs to meet 3 times the amount of their portion of the rent.
DEMEANOR AND BEHAVIOR – The behavior and demeanor of all applicants during the application process will be considered while determining approval.
INCOMPLETE, INACCURATE, OR FALSIFIED INFORMATION – Any information that is incomplete, inaccurate, or falsified, will be grounds for immediate denial of application.
ARREST AND CONVICTIONS – Any applicant with a conviction within the past 5 years MUST have excellent and established credit. They must also have excellent, verifiable, and consecutive rental history in the last 5 years.
An applicant will be denied if a conviction constitutes any of the following: a) drug-related crime; b) a person crime; C) sex offense; D) a crime involving financial fraud, including identity theft and forgery; or E) any other crime if the conduct for which the applicant was convicted or charged is of a nature that would adversely affect the health or safety of other individuals or could result in physical damage to the premises. If an applicant has a conviction under these criteria, that may otherwise disqualify them, they may submit additional information along with the application. We will then perform an individual assessment to determine their approval or denial.
APPLICANTS SHOULD CONSIDER THE FOLLOWING LIMITATIONS –
• Occupancy may not exceed two persons per bedroom.
• Pets are only permitted after required forms and documentation are received and approved.
• Property Owner may require Renters Liability Insurance.
** If any applicant needs assistance, known as “reasonable accommodation” in the application process please advise the Landlord at the time of applying.
GROUNDS FOR DENIAL WILL RESULT FROM THE FOLLOWING FOR ALL APPLICANTS:
Falsification of the rental application
A credit score below 550
Any “open” bankruptcy
Unverifiable social security number
Verifiable income less than the required amount
Any verifiable unpaid eviction showing on credit report or confirmed with landlord
3 or more late payments and/or NSF checks in total within a consecutive 3 year period
2 or more noise complaints and/or other material non-compliance within a 12-month rental period (current and/or previous)
Any applicant currently using illegal drugs will be denied. If approved for tenancy and later drug use is confirmed, termination shall result.
Applicant screening is processed by Ned Baker Real Estate. Public records report (evictions and convictions) are generated by either: Advanced Reporting PO Box 12398, Salem, OR 97309 (V) 503-375-0451 or by Pacific Screening, PO Box 25582, Portland, OR 97298 Phone: (800) 707-1941. If your application is denied based upon information received from any of the above, you will be notified of the fact at the same time you are notified of the denial. A follow up letter of explanation will also be sent. You have the right to appeal the accuracy of the information.
Disclaimer: If your credit reports show any utility or housing related accounts in collections or that you owe any monies to your current or past landlords; all delinquent accounts must be paid in full before we approve your application. Proof of payment in full is required.