Rustic Woods Apartments Qualifying Rental Standards

1. All Lease Holders age 18 and over are required to complete an application, pay an application fee and meet all the qualifying criteria. All applicants will be screened through Western Reporting/Resident IQ.

2. All Occupants age 18 and over are required to complete an application, pay the required application fee and pass the criminal criteria. (Occupant’s income is not considered with qualifying lease holders)

3. Valid ID must be presented to tour the community and apply resident. Valid ID includes a passport or any other government/state issued ID.

Income Verification

Income must meet or exceed three times the amount of the rent and must be verifiable.

(A) Employed Applicants: Proof of Income Accepted for Employed Applicants: Two most recent check stubs, Offer Letter if you haven’t received your 1st two pay checks or offer letter and 1st pay stub, Court Order for Child Support and proof that it is received, Award Letter for SSI, Retirement Income, Student Loan Income. Lease Holders may combine income to qualify on the Income Requirements. Applicants without verifiable income may obtain a Co-Signer (See Section 9)

(B) INCOME VERIFICATION FOR SELF EMPLOYED APPLICANTS – You are considered self-employed if you receive a 1099 at the end of the year for wages earned or if your employer pays you cash or you work on a cash/tip basis. If you are self-employed, you must be self-employed for a minimum of 3 months. Verifiable income accepted is 3 most recent bank statement showing deposits that are equal or greater than 3 times the amount of the rent for the apartment in which you are applying for. If you are not able to provide the documents required to verify income, then your income will be considered unverifiable and your application will be denied.

Criminal History

All applicant criminal background checks are processed through Western Reporting/Resident IQ and our community agrees with their recommendations for residency.

Credit History

A credit report is obtained for all applicants over the age of 18 applying as a lease holder. Open bankruptcy status is an automatic denial. Falsifying information on your application will be an automatic denial.

Rental History/Eviction Search

ntal History returns as current eviction status, potential lease skip or multiple lease violations, excessive late payments will be an override to DENIED. Western Reporting will conduct an eviction search and any eviction judgements in the last 5 years are automatic denials. Applications returned showing unpaid rentals will not be processed until acceptable documentation providing “Proof of Payment in Full” is received by our office.

Western Reporting Decisions

A Credit Report is obtained for all applicants over the age of 18 applying as a Lease Holder. Open bankruptcy status is an automatic denial. Falsifying information on your application will be an automatic denial.

APPROVED		APPROVED W/ DOUBLE DEPOSIT		APPROVED HIGHER DEPOSIT		DENIED
80-100		70-79		45-69		0-44

Co-Signers

Must pay an application fee and must meet all qualifying criteria. Income must equal six (6) times the amount of monthly rent and must be verifiable according to the above Income Guidelines.

Applicants without a Social Security Number

Applicants without a social security number must be able to meet the qualifying criteria. Capital Assets complies with all government, state and federal policies for leasing to applicants without a S.S.N.

Corporate Applications

Corporate Applications must be completed and signed by a corporate officer that has the authority to enter into legal contracts for the company. All Occupants must pass section #5 of the criteria.

Pets

We accept pets up to 75 pounds. Resident agrees to deposit with owner a non-refundable pet fee for each pet. No pet will exceed 75 pounds at full age of maturity limit two pets per apartment. Monthly pet rent of $25 per pet. *Breed Restrictions Apply – Reference Pet Policy

Please provide the following items SEPERATELY for immediate processing

1. Non-Refundable Application Fee: $50.00 (per applicant over 18 years of age) $65.00 (per married couple applying together).
2. Application Deposit & Admin Fee of $150 is refundable upon denial of application.
3. Occupancy Standard (2) One Bedroom (4) Two Bedroom (6) Three Bedroom – Occupants - 12 months & older at time of lease signing.
4. NO CASH ACCEPTED OR TEMPORARY CHECKS.

*Adverse action letters will be given for each application decision.

All applications are processed within 48 hours – Application Deposits are non-refundable after approval.

ALL FEES ARE DUE AT THE TIME OF APPLICATION & ACCEPTED W/ PERSONAL CHECKS OR MONEY ORDERS.