Required Documents both Private Owner & Retail Residential Markets.
- State or Federal ID
- Proof of Income city standard is 3 times the monthly rent. It can range from 2.5 ~ 6 times monthly rent.
- IABS Disclosure
- TAR or TAA Application
- Retail typically accepts the TAA
- Private typically accepts the TAR
- Fees = Non Refundable
- Deposits = 100% REFUNDABLE
Acceptable forms for Proof of Income ~ Combined Gross Monthly Income (before taxes)
- Employed~W-2 (pay stub~taxes are withdrawn or New Hire Letter.)
- Self-Employed~1099~3 to 6 months bank statements~Letter from Employer (on company letterhead)
- Retired~Unemployed~Liquid Assets 10-36 times the monthly rent~not all properties allow this.
- Guarantor (5-7 times monthly rent)
Private Market = Houses~Condos~Townhome~Duplex~Multi-Family
- City Standard is FICO > 650
- Typically 3 times monthly rent
- Stringent credit/criminal history compliance
- App Fee $35-75 per Applicant
- Admin Fee $0-400
- Deposit = 1 month rent with application.
- Certified funds typically required ~ No cash, credit, personal checks...usually.
Retail Residential = Apartment Communities
- City Standard is FICO > 500
- Ranges from 2.5-6 times monthly rent
- Est. 15% of properties are Criminal friendly. Usually okay for POM or DUI. Any infraction involving sex~violence~theft are automatic delcination(s); almost across all management companies.
- Est. 80% of properties are forgiving with challenged Credit History when you've good rental history
- 1st time Renters always welcome.
- App Fee $0-50 per Applicant
- Admin Fee $0-250
- Deposit =$0-1 month rent with application. Generally < $500 takes a unit off market
- No cash accepted~all other forms of payment are acceptable.