General Rental Requirements and Qualifications – LeasingDesk – WA

 

The rental application has been designed to allow for a thorough financial and criminal background check on all prospective residents. Each resident is required to complete one copy of the application form.  An application must be submitted on each resident or occupant 18 years of age or older.  Married couples may complete one application.  In the case of roommates, co-signers or unmarried couples, each person will complete a separate application.  Upon acceptance of any application, the back must be completely filled out and signed where necessary.  Two Forms of Payment Required: One for the application fee, one for the security deposit.

As part of the application process and in accordance with the State of Washington Fair Tenant Screening Act, we want to make you aware of specific information that may be considered in our decision to approve, approve with conditions or deny the application. We do not accept reusable tenant screening reports. In order to determine your eligibility for residency, we will obtain information related to a consumer credit report, check writing history, eviction and/or judgments (including filed cases), criminal history, rental history and income verification.  If the screening report returns with information contrary to our standards of qualification, an Adverse Action Letter will be mailed promptly.  The Adverse Action Letter will supply information for the decisions involved in the final outcome of the application status, as well as how to obtain a free credit report from one or more of the major consumer reporting agencies listed below:

Equifax
P.O. Box 105873
Atlanta, GA 30348
(800) 685-1111
www.equifax.com
Experian
P.O. Box 2103
Allen, TX 75013
(888) 397-3742
www.experian.com
Trans Union
P.O. Box 390
Springfield, PA 19064
(800) 916-8800
www.transunion.com
RealPage, Inc.
4000 International Pkwy
Carrollton, TX 75007
(866) 934-1124
www.realpage.com/consumer-dispute

I.     VERIFIABLE INCOME TO RENT EARNING RATIO: 

A.       All lease holding applicants must have verifiable income.  The combined income must be at least three (3) times the monthly rent amount.

B.       Income must be verified using the last four paycheck stubs as well as a completed Employment History Verification form executed by a direct supervisor or human resources.  If the applicant is self-employed, then the previous year’s tax return or bank statements from the last six months will be acceptable means of verification.

C.        Verifiable income sources could include: Current Employer, Child Support, Grants, Pensions, Social Security, GI Benefits, Alimony, Disabilities, Unemployment*, Trust Funds, Assets Receiving Dividends, Savings Account**.

         Unemployment benefits must be verified through the local Unemployment Office and the duration of the benefits must be concurrent with the entire lease term.

         If the amount in the savings account equals the monthly rent, times three, times the term of the lease.

         Any other source of income that can be proven to be received on a regular basis may be considered.

         If verifiable rent-to-income earnings ratio falls below our scoring guidelines, a co-signer may be used to achieve approval, if the applicant chooses to do so.  The co-signer must complete a separate application and qualify under the same guidelines. However, the rent amount of the unit cannot exceed 25% of the co-signers monthly income. Any and all bankruptcy records will decline the cosigner application.

D.       If verified debt on the consumer report exceeds the income thresholds needed to secure approval, the application will be denied for debt-to-income purposes. 

E.        Insufficient income will result in denial.  The option for a co-signer may be extended. 

 

II.   CREDIT: All applicants will be subject to a credit check, as well as a check writing history search, through Equifax, Experian and/or TransUnion. Applications will be denied if credit history is found unsatisfactory or insufficient. Collection balances of $500.00 or greater, pertaining to rental debt, will be denied. Collection balances less than $500.00 will be subject to an additional deposit of one month’s rent amount. If an applicant has filed bankruptcy within the past 5 years, and the discharge has not occurred, the application will be denied. If the applicant screening reveals a discharged bankruptcy within the past 5 years, the application will be denied unless secured with an additional deposit of one month’s base rent amount, provided all other areas achieve approval. The screening search also verifies debt-to-income ratios and will deny applications where debt exceeds acceptable income thresholds as it relates to rent-to-income requirements. The presence of a public record on a consumer report negatively impacts the overall score. 

III. RENTAL/MORTGAGE HISTORY: Rental/Mortgage history will be based on the length of history as well as the pay record. An eviction or skip with money owed to a current or previous landlord will be denied. Collection balances of $500.00 or greater, pertaining to rental debt, will be denied. Collection balances less than $500.00 will be subject to an additional deposit of one month’s rent amount. Foreclosures will be denied unless the other factors affecting the consumer report merit conditional approval, at which point an additional deposit of one month’s rent will be demanded. Additional deposits must be paid within 48 hours. Applicants with reported rental debts to any Westwood Residential or Taylor Land Two managed property will be denied unless the balance owed is paid in full. Any persons subject to eviction or mutual termination for non-rent related breach of lease at a Westwood Residential/Taylor Land Two managed property will be denied. The applicant will bear the burden of proof if making disputes against the credit report.

 

IV.  CRIMINAL HISTORY: A criminal background check is performed on all individuals age 18 and over. Applicants with felony or misdemeanor convictions or deferred adjudication for violent crimes against a person or law enforcement official; including, but not limited to, assault with a deadly weapon, sexual offenses including registered sex offenders or crimes against a child or the elderly, kidnapping, drug manufacturing, distribution, or trafficking will not be accepted. Misdemeanor possession of drug or drug paraphernalia convictions less than one (1) year old from the date of offense will be declined. Applications with other felony and misdemeanor offenses are subject to denial or approval based on the degree of offense and a specific length of time from the date of offense. A list of specific offenses and the time line filters are available upon request. Persons with a misdemeanor for theft by check will be required to pay rent by certified funds each month. Remember that the criminal history requirement does not constitute a guarantee or representation that those residents or occupants residing at the apartment have not been convicted of any of the above mentioned crimes. Additionally, our ability to verify this information is limited to the information made available to us by the resident credit reporting services used.

 

V.    OCCUPANCY GUIDELINES:  The following Occupancy guidelines are as follows:

Efficiency and One bedroom/ One Bath          No more than three persons

Two bedroom/ One or Two Bath                     No more than five persons

Three bedroom/Two Bath                               No more than seven persons

 

VI.  ADDITIONAL CONSIDERATIONS:  The following additional considerations may determine the outcome of the application:

A.       Unverified Information- if certain information cannot be verified through the consumer report it may result in denial.

B.       Incomplete Application- if not all information is provided on the application it may result in denial after screening.

C.        Fraud Alerts- if certain accounts are flagged with fraud warnings, it may be subject to further review or ultimately denial. 

 

VII. IDENTIFICATION POLICY ENFORCED:  Persons applying from remote locations, in which we’ve not had the privilege of identifying in person, must be present at time of move-in for the initial release of keys, security devices and final record of identification for the resident file. 

 

VIII. HOLDING FEE POLICY: The Holding Fee, Administration Fee, and Application Fee are required to reserve an apartment and hold it off the market from other prospective applicants. Upon application approval the Holding Fee will satisfy some or all of your required Security Deposit. An Additional Deposit may be required to achieve approval based on credit, rental history, income and/or other qualifying standards. If you cancel your application, the Holding Deposit may be forfeited as liquidated damages.

 

You have the right to know the information contained in your file at the consumer reporting agency and dispute any information in your file that you believe is inaccurate.