APPLICATION CRITERIA

Application Criteria and Terms

All applications for residency will be processed by Team Campus Senior Luxury Apartments, LLC through AmRent, a third party credit and criminal screening company that obtains information from credit reporting agencies, state, county, or local towns, and past tenancy records used to determine of applicants and their occupants meet the screening criteria.

Any and all information obtained during the application process will be handled in compliance with the Fair Credit Reporting Act (FCRA).

All applicants and additional occupants who are eighteen (18) years of age must complete an Application and sign the Lease as either a Tenant or an Occupant. Each Application is evaluated weighing the indicators of future rent payment performance including but not limited to credit scoring, previous payment performance, and references. This information will be used to evaluate and choose to accept, accept with conditions, or decline an Applicant or seek additional requirements before approving an Applicant. Applications are to be completed in full; applications containing untrue, incorrect, misleading, or incomplete information will be denied.

FAIR HOUSING: Team Campus Senior Luxury Apartments, LLC operates in accordance with the Federal Fair Housing Act, as well as state and local fair housing and civil rights law. We are pledged to the achievement of equal housing opportunities for all and do not discriminate against an Applicant of Tenant because of race, color, religion, sex, handicap, familial status, or national origin or any other basis that may be protected under federal, state, or local law. The rental criteria below, outlines some of the policies for this rental property with regards to standards that are required by each applicant in order to be approved for residency.

RENTAL SCORING: All applications are evaluated on a rental scoring system based in real data and statistical data such as payment history, quantity and type of accounts, outstanding debt, and age of accounts. Every Applicant is treated objectively because each application is scored statistically in exactly the same manner. AmRent will recommend one of the following, however, Management reserves the right for final decision.

  1. Credit History: Credit reports will be run on each Applicant. Unsatisfactory credit history can disqualify an Applicant for approval.
  2. Rent/Mortgage Payment History: Any legal proceedings, judgements, evictions, skips, or outstanding balances may result in the application being declined.
  3. Criminal Background Check

 

  1. Income Requirements: Employment and/or financial standing must be verified. Management may require additional information and documentation to verify income and financial stability deemed necessary.
  2. Employed applicants must submit the last two (2) consecutive paystubs. In the case of new employment, Applicant must provide and originally signed offer letter with salary on company letterhead. Employment must commence within thirty (30) days of the start date of the Lease. Management will confirm the information with the employer only after preliminary approval has been determined. Gross monthly income of Applicants, must be at least three (3) times the monthly rent to qualify.
  3. Self-employed applicants must provide the current and prior years’ tax return including all appropriate schedules or a notarized statement form a CPA or attorney indicating the amount of estimated annual income.
  4. Savings: Savings can be considered in lieu of income if Applicant provides current savings account statements showing proof of at least three (3) times the annualized rent available for immediate use.
  5. Official documentation must be submitted with the Application to support the following and any other sources of additional income for consideration.
    1. Investment, Retirement, Trust Fund, and/or Savings Accounts
    2. Military Housing Allowance
    3. Child Support and/or Alimony

DOCUMENTS TO BE SUBMITTED WITH APPLICATION:

  1. Proof of Income: Last two (2) paystubs or two (2) years of bank statements
  2. Proof of Identity: A valid driver’s license, age of majority card, military ID, or state issued Photo ID card, valid passport with visa number and expiration date.
  3. Proof of Tax Processing: Copy of Social Security Number Card (SSN); or International Tax Identification Number (ITIN); if valid I-94, I-94W number or I-20.
  4. Application fee $50.00 per application.

OCCUPANCY GUIGELINES:

Occupancy guidelines are governed by State, City, and local ordinances. Unless otherwise required by these agencies, the standard Guidelines will be a maximum of two (2) residents per bedroom.

APPLICATION APPROVALS/DENIALS:

Lease will be offered to prospective Tenants based on the best qualified application at the time.

  1. Accepted: The applicant will be notified they are accepted and will be offered a Lease.
  2. Accepted with Conditions: The applicant may be given the option to reapply with a guarantor or co-signer. In this instance, the original Applicant’s application will be resubmitted along with the guarantor or co-signer application. Both applications will be reviewed and scored, but guarantors and co-signers are held to a more stringent, pre-established screening standard because they are responsible for the payments for the residences as well as their own place of residence. New application fees will apply to the resubmission and new applications. The Applicant will be notified in writing of the decision, the contact information for the consumer reporting agency(s) that provided the consumer information that impacted Management’s final decision, and to obtain a free copy.
  3. Denied: The application will not be accepted. The Applicant will be provided with the contact information for the consumer reporting agencies that provided the consumer information.