Tenant Selection & Qualification

 This community will not discriminate against any person based on race, color, religion, sex, national origin, disability, family status or any other protected class provided for in applicable state or local law.

Qualification Guidelines:

• Each person over the age of 18 must fill out an application and is an applicant.

• Each applicant must complete an application in its entirety and all information provided must be true, accurate and complete.

• Income plus verified credit history will be entered into a credit scoring system, which determines both rental eligibility and security deposit level.

• Criminal history will be verified and must meet the standards outlined below to be eligible to rent. Each applicant’s criminal status will be individually evaluated; leaseholders’ income and credit will be combined.

o Criminal History: A person with a known felony conviction, or a pending felony or applicable misdemeanor charge that has not yet been resolved, will not be accepted. Person(s) must exhibit no criminal convictions involving violence, firearms, illegal drugs, theft, crime involving the theft or destruction of property, or any crime involving a minor. Person(s) convicted of a misdemeanor or have received D.A. will not be considered if the offense is sexual in nature involves a minor, crimes of violence, stalking, public lewdness, and indecent exposure or involves weapons.

o Program Applicant- All the above applies- No felony or drug charges in the past 2 years. Felonies and Misdemeanors will need to be disclosed before application can be approved. Regional Manager must review file.

Other Criteria: If the following apply, the application will need to be reviewed by the Regional Manager

• Unable to provide a valid government issued photo ID.

o A valid government issued photo ID is required for all applicants.

o When prospective renters fill out the application and do not have a Social Security Number, they should be filling out TAA Application for Non- US Citizens

o Program Applicant- can use program identification if they do not yet have a Texas ID.

● Acceptable forms in I-1551, I-1688, I-1688A, I-766 and I-94. The document must be valid.

● If the I-94 is being submitted, a valid passport, visa, or consular card must also be submitted.

● Falsification of the Application.

● Anyone with outstanding unpaid rental collection.

● If the bank returns the application fee or holding deposit check.

● Anyone having an eviction judgment within 2 years will be reviewed by Regional Manager.

Income Requirement: The gross monthly income of all lease holders will be considered jointly and must equal (2.5) times the rental amount of the apartment. All income must be verifiable.

● Two recent pay stubs from current employer

● Offer letters from employers with prior W2 and most recent pay stub.

● Two recent bank statements

● Pension fund payments/401K/investment fund accounts

● Court ordered alimony or child support payments.

● Proof of government payments (e.g., welfare, disability, social security, etc.)

● Proof of retirement income

● Proof of self-employment income (e.g., prior year's tax return, financial statements, bank statements, etc.)

● Proof of student loan income

● Program Applicant- Must show proof of income at 20% of the rented apartment value if not fully paid through program.

● Individuals applying for an apartment home with a property that has a specific Regulatory Agreement will be required to meet additional guidelines.

Conditional Approval:

• If an application recommendation is returned as "Pass with Conditions", the household will be required to pay an additional security deposit equivalent to one month's rent to the current standard deposit using a Surety Bond provided by Jetty.

• Applicants with an outstanding NSF check will result in a "Pass with Conditions" and are required to make all current and future payments by cashier's check or money order.

• Regional Manager will look at all Applications before a FORMAL DECLINE is sent to applicant.

Employment Verification:

• Lease holder(s) must be currently employed and provide written evidence of regular income sufficient to two (2) times the rental amount on the apartment, for the lease term. • Self-Employment: Must provide the previous year’s personal income tax return and/or the previous three months personal bank statements, or notarized letter from employer, or copy of income from electronic provider i.e., Cash App, Chime, Zelle as evidence of sufficient income.

• Commission/Tip Employment: Person who holds jobs that are commission only, base salary plus commissions, tips or bonuses will be considered self-employed and must submit the same proof of income as listed above.

Rental History:

• Up to one (1) year residency history will be reviewed and must exhibit no derogatory references. Any debt owed to an apartment community must be paid off before an applicant can be approved.

Credit Requirements:

• The credit history will be reviewed and must exhibit no derogatory references. Any debt owed to an apartment community must be paid off before an applicant can be approved. • This community uses an independent credit reporting agency to obtain and evaluate your consumer credit report. Your consumer credit report contains information about you and your credit experiences, including but not limited to such items as your bill-payment history, the number and type of accounts that you have had late payments, collection actions, outstanding debt, and the age of your accounts.

• Medical, Student Loan Collections, and Foreclosures will be filtered out of the overall score. Our 3rd party agency may also obtain, review, and evaluate other relevant criteria about you or regarding your character, general reputation, personal characteristics, or mode of living, including but not limited to information regarding any unlawful detainer actions taken previously against you. Based on its evaluation of your consumer credit report and any other relevant criteria.

• We will send a recommendation regarding your application. Based upon the 3rd party recommendation, your application will either "pass"; "pass with conditions" that an additional security deposit be paid; or "fail." If your application fails or passes with conditions, you will be given the name, address and telephone number of the consumer reporting agencies that provided your consumer information to us, as well as other information required by law.

Occupancy Guidelines: 

• No more than two individuals per bedroom may occupy a room.

Age Requirement:

• Lease holder(s) must be 18 years or older. All occupants 18 years or older will be required to complete an application (even when living with a parent or guardian). Maximum number of people per apartment: 2 persons per bedroom plus 1. Example: 1 bedroom limit is 3 people, 2-bedroom limit is 5 people, 3-bedroom limit is 7 people. In the event of an adoption, birth, custody change, or other addition of a minor to the household occurs causing the occupants to exceed the maximum number permitted per bedroom, residents will have to the expiration of the lease term to transfer to the appropriate apartment comply with occupancy limits.

● Student Housing - 1 person per bedroom.

Animals: All animals are subject to management approval and community policy. Maximum two (2) pets per apartment. A picture of the pet will be required along with shot records. No aggressive breeds or aggressive breed mix will be permitted. Emotional Support or Service Animals must show required documentation. Pet deposit fees/deposits are as follows:

• $300.00 per pet (non-refundable fee)

• $15/month per pet

Application Fee: A $75 non-refundable application fee is required per applicant and $75 administration fee.

Bankruptcy: If older than two (2) years will not result in automatic denial of application, unless a housing debt is included. If fewer than two (2) years old, it could result in denial or additional deposit. Regional Manager can review.

Renter’s Insurance: Insurance is recommended at all our communities with a minimum liability coverage of $100,000. It is not required as a condition of residency however is recommended. This is available to purchase on your tenant portal. If you opt out, we do not cover Any Type of Personal Property Damage.

 Items required if residents choose to get personal coverage:

• All adult residents living in the apartment must be named on the policy.

• Resident’s insurance certificate should list this information under “Interested Party” info which will be given at time of move-in.

• A minimum of $100,000 of personal liability insurance must be maintained.

• A copy of the declaration page of your policy should be provided to us within 5 days of move-in. 

Additional Possibilities for approval A cosigner/guarantor may be required for:

• Applicants who are first time renters

• Applicants who do not provide sufficient income to meet income requirements.

• Guarantors must have a gross monthly income of at least five (5) times the monthly rent and must meet all other qualifying criteria. The guarantor must complete and sign a lease guaranty agreement. 

An additional security deposit equal to one (1) month’s rent may be required for:

• Applicants who have more than 50% negative credit Other Conditions

• A credit report and criminal background check will be completed for all applicants and occupants eighteen (18) years of age and older.

• All credit and background information are processed through our screening process.

• I understand that I may be required to pay a holding deposit or earnest money when applying on-line and it becomes non- refundable once I am approved. If my application is not approved, I will receive a refund of my holding deposit within thirty (30) days in accordance with federal, state, and local regulations. If applying online with earnest money, it will not be charged until my application is approved. If approved, my holding-deposit or earnest money will be applied to move-in charges at the time of move-in.

Holding Deposit Requirements:

• Holding Deposit is $200 (Must be in the form of a money order)

• A Holding Deposit is not required currently. If applicant is approved a Welcome Letter must be sent within 48 hours of approval explaining all charges due at time of move in. If anticipated move in date is more than 5 business days a lease must be sent with a future date and signed. If applicant fails to sign lease the application will be denied.

• Should the household choose to cancel or withdraw the application, the Leasing Office must be notified within three days. After which time, the Holding Deposit will not be refunded, and the apartment may be offered to any interested party.

• The Holding Deposit will be refunded if the result of the application is "Pass with Conditions" or applicant cancels or withdraws within three days of notification of application results.

• Refunds shall be made in accordance with the requirements of the law. Upon execution of a lease, the Holding Deposit will be applied towards the applicant's security deposit or move in costs.

• If any applicant gives false information or fails to disclose derogatory credit, rental or criminal history the holding deposit or earnest money will be non-refundable.

• I understand that if I or any co-applicant withdraws an application or notifies us that you have changed your mind about renting the dwelling unit, we will be entitled to retain all application deposits as liquidated damages and the parties will then have no further obligations to each other.

Application will not be considered until the Application has been fully executed and returned, and all applicable Application Deposits and fees have been paid. I have read and understand the entire resident screening policy of this community. Thank you for considering one of the properties offered by Our Community Realty. By signing this form, you acknowledge that you are fully aware of the rental criteria. These are only general guidelines, it is strictly up to the Regional Manager and/or Broker to make final determination on the approval of each application.