June 26, 2016

Requirements To Rent An Apartment

REQUIREMENTS AND QUALIFICATIONS FOR RENTING AN APARTMENT AT PARADISE APARTMENTS

Number of Occupants:    

  • Maximum four occupants per apartment

Automatic Denial:

  • Eviction
  • Disqualifying Criminal History (see below)
  • Disqualifying Rental History (see below)
  • False Social Security Number
  • Rental Housing Debt
  • Fraud Alerts on Account
  • False information
  • Inability to verify information

Credit Scoring:

  • Information about you and your credit experiences, such as your bill-paying history, the number, type and age of accounts, late payments, collection actions and outstanding debt is collected from your credit report. From such Information, an automated scoring system determines your risk of not paying your rent. Your credit will determine whether your application is denied or subject to further verifications.

Rental History:

  • All applicants must have a verifiable landlord reference and rental history. We will verify your most recent rental history ending in the past 24 months.
  • Paradise Apartments does not rent to first time renters.
  • Friends or relatives are not considered a valid landlord.
  • Applicant may be asked to provide a copy of current lease agreement to assist with landlord verification.
  • Paradise Apartments will consider previous home ownership for landlord history, however applicant must provide proof of ownership transfer.
  • Certain lease violations, non-renewal of lease, more than 50% late payments, or unpaid housing debt in the last 60 months will result in denial.
  • Current and previous residence to include satisfactory rental payment history, sufficient move out notice and all lease terms fulfilled; no skips or evictions.

Employment/Income:

  • We will verify current employment and income.
  • Monthly minimum net income of at least 3 times the monthly rent
  • Must provide copies of last 4 consecutive pay stubs
  • If self-employed, must provide most current tax returns and bank statements
  • Minimum of 12 months at current job or ability to prove 12 months of continuous employment at required income level
  • Income from family members and unverifiable income will not be considered
  • Proof of earnings from social security, child support, and alimony/spousal support must be verified by official documentation, and must show proof of receipt of payments for two most recent months
  • Paradise Apartments does not accept co-signers.

Identity:

  • All applicants must provide copies of social security card and non-expired driver’s license or state issued photo ID card. Application will not be processed without both.

Criminal History Automatic Denial:

  • Has a felony conviction, is serving deferred adjudication or has a case pending for the following:
  • Theft of property (including shop lifting and bounced checks), property damage, or drug violations, in the past ten years counting from completion of sentence. Actual or threatened violence, stalking, crimes involving minors, injury to persons, sexual offenses and weapons offenses have not time limit and will result in automatic denial.

Roommate:

  • Incomes of roommates will be combined to meet combined monthly income requirement. Each roommate must qualify individually in all others areas. At lease one applicant must be 21 years old or over.

 

All residents and occupants 18 years or older must complete an application, pay the application fee, and complete the screening process.

All monies must be paid, in full, prior to occupancy