ARCH REALTY RESIDENT SCREENING CRITERIA
Rental Application: Applicant must be of legal age, eighteen (18) years and over. Everyone who will be residing in the home or apartment and is over the legal age of eighteen (18) years must submit an application and pay the application fee. All applicants must provide a valid Drivers License, State identification card, Military ID or a Government issued picture ID.
In order to help us complete your application in a timely manner, we ask that you complete every section of the application. There should be no lines left blank. If a line does not apply, please fill it in with “N/A”. No application is complete or can be considered without DMV #, all Auto VIN #’s of any applicants, all Bank account #’s of applicants, at least 2 relatives and 2 emergency contacts (none of which can be the same). If you need to call us back with more information, please do so within your 24 hour grace period. Be sure to sign the application and date it where indicated. The lease does not become effective until the application is approved by Management.
AVAILABILITY POLICY: Homes become available to prelease when the current resident submits a written notice to vacate.
AGE REQUIREMENT: Lease Holder(s) must be eighteen (18) years or older. All occupants eighteen (18) years or older will be required to complete an application (even if living with parent or guardian).
INCOME REQUIREMENT: The gross monthly income of all lease holder(s) will be considered jointly, and should equal to 2½ to 3 times the market rental amount on the home or apartment. All income must be verifiable. Verifiable income includes two recent paystubs. A section 8 voucher or funding from a third-party subsidy source also may be acceptable.
RENTAL HISTORY: Up to 36 months(3 years) of resident history will be reviewed and must exhibit no derogatory references. Any eviction filed will automatically disqualify an applicant, unless there is a section 8 voucher or another guaranteed income source. Any debts owed to an apartment community or a utility company must be paid before an application can be approved. First-time renters or those without sufficient rental or credit history may be accepted with additional security deposit and/or additional rent and/or a qualified cosigner with Guaranty of Lease if income and employment requirements are met.
CREDIT REQUIREMENTS: A credit report will be completed on all applicants to verify credit ratings. Income plus verified credit history will be entered into a credit scoring model to determine rental eligibility and security deposit levels. Unfavorable accounts which will negatively influence this score include but are not limited to collections, charge off, repossession and current recent delinquency and open bankruptcies will result in an automatic denial of the application. ADDITIONAL DEPOSITS WILL BE REQUIRED FOR ALL CREDIT RECOMMENDATIONS BELOW AN ACCEPTABLE LEVEL, NOT INCLUDING A DENY RECOMMENDATION.
ANIMALS and Pet Fee: All animals are subject to management approval and community policy. A non refundable $350 per pet fee will be required at move-in per home for any approved pet. In addition, pet rent of $25/mo per pet will be assessed.
APPLICATION FEE: A $50.00 non-refundable application fee per applicant is due in full before application can be considered. All Applicants 18 years of age and older, even if in same household or if a guarantor, must pay a separate application fee to perform the screening services. Application Fee is paid online when filling out application. Application will not process without fee.
CRIMINAL HISTORY: A criminal background check will be conducted on each applicant. The application will be denied for any of the following: Violent felony records in the last 7 years, any Violent Crimes against Persons or sexual in nature for the past 100 years. Serious misdemeanors in the last 5 years, exact name match on the OFAC watch list, name or DOB matching a person on the Registered Sex Offender Database, will not be accepted. Person(s) must exhibit no arrest, charge, or conviction involving crimes of violence, firearms, or any crime involving a minor. Person(s) who have been arrested for, charged with, or received deferred adjudication for a felony involving these crimes will not be accepted. Person(s) convicted of a misdemeanor or who have been arrested for, charged with, or received deferred adjudication with respect to an offense that is sexual in nature, involves a minor, crimes of violence, stalking, public lewdness, and indecent exposure or involves weapons will not be considered.
CO-SIGNER/GUARANTOR: A COSIGNER/GUARANTOR AND/OR ADDITIONAL SECURITY DEPOSIT MAY BE REQUIRED IN THE CASE OF ONE OF THE FOLLOWING:
1) No verifiable income for full-time students 2) Unsatisfactory credit rating; 3) Unsatisfactory income requirements.
If you do not meet one or more of the above criteria, you may be able to qualify for a single family home or apartment with a third party guarantor. The guarantor must pass the same application and screening process that you must pass, except the gross monthly income of the guarantor must equal 4 times the rental amount of the home/apartment.
Falsification of Application: Any falsification in applicant’s paperwork will result in the automatic denial of Application. In the event that an Applicant falsifies his/her paperwork, owner has the right to hold all deposits and fees paid to apply toward liquidated damages.
By submitting this application, applicant(s) acknowledge(s) and accepts the lease application will be approved or rejected based on the information above. Falsification of any information on the lease application or incomplete documentation will result in an automatic denial. Applicant(s) also agree(s) to submit all documents necessary to complete the application within 72-hours of the application date. All information must be verifiable. Failure to provide the documentation will result in a declined application and forfeit of all fees paid to reserve the apartment or home. If more than one person is applying for a home and one of the applicants is declined, Arch Realty reserves the right to reject both applications.
Applicant acknowledges that the previous information is understood and has been informed. All fees are non-refundable.