Rental Criteria

APPLICATION
  • The rental application and application fee are required for each prospective resident that is 18 years of age or older.
  • The combined gross monthly income of all applicants must total at least 2.3 times the monthly rent.
  • A valid form of legal identification is required at the time of application and move-in.
  • Rental, income and credit histories will be considered jointly.

 

CREDIT AND CRIMINAL HISTORIES*

Credit history will be verified through a third party verification service. The applicant will receive a score based on statistical data such as payment history, number and type of accounts, outstanding debt and age of accounts. Based on the scoring model, the application will be accepted, denied, or accepted with conditions.

  • Accepted - the applicant will be accepted with the standard required deposits and fees
  • Denied - the applicant will not be accepted. The applicant will be provided with contact information for the consumer reporting agencies.
  • Accepted with conditions - the applicant will be accepted with an additional deposit or co-signer requirements
VERIFICATIONS/ADDITIONAL REQUIREMENTS

Depending on the results of the credit report, applicants may be required to provide proof of one or more of the following:
     Verification of Income:

  • If currently employed:  copies of the 3 most current paycheck stubs and/or complete bank statements
  • If self-employed:  copy of the previous year's tax return and 3 most current personal bank statements
  • If employment is pending:  copy of the offer letter on company letterhead indicating start date and salary and 3 most current paystubs from the last employer
  • If unemployed, retired or a student:
    • A social security benefit letter - SSA-1099: social security benefit statement of SSA notice of change in payment. Benefits must be dated no more than 14 months from the date of the application or must be reflected on a bank statement
    • Statement from the financial aid office of a college or university that shows loans or grants awarded for living expenses beyond tuition and other school expenses
    • An order of alimony or child support - must be reflected on bank statements
    • The last 6 personal bank statements, from a US bank, showing an average deposit of 2.3 times the monthly rent
    • Statements from investment accounts, from a US financial institution, showing 12 months of income, 401K and IRA cannot be accepted

Please Note:  Irregular income that does not appear on a paystub such as gratuities, royalties, disability or award letters, etc...may only be accounted with verifiable documentation.

Good Rental or Mortgage Payment History:  can be obtained from a landlord, apartment community or mortgage company

 
    Guarantor:
  • Must satisfy the income and credit history requirements. Income must be greater than five (5) times the monthly rental rate
  • Will be responsible for the obligation of all Residents on the initial lease as well as all subsequent leases, including modifications, extensions, and renewals
  • Applications approved with an out-of-state guarantor will be accepted with a security deposit equal to two (2) month's rent
 
RENTERS INSURANCE
Renters Insurance is REQUIRED.  
 
AUTOMATIC DENIAL
  • Falsification of any information on the rental application
  • Criminal history that include felony or misdemeanor convictions or pending charges for crimes that represent threats to persons or property
  • Failure to satisfy the income requirement
  • Failure to satisfy the minimum score based on the model
  • Bankruptcy in process
  • Eviction by a previous landlord for cause
  • Previous property management balance owed/collections

Terms of Use

Terms Of Use


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This Agreement was last modified on June 16, 2014

 

*The information contained herein, while collected from sources deemed reliable, is neither guaranteed nor warranted by the Seller, the agent Jaime Hernandez, nor Seattle Consultant LLC. Figures are taken directly from the King County’s assessor Records (K.C.A.R.). It is incumbent upon the prospective buyer to seek independent verification of all facts relative to lot sizes, interior square footage, zoning, and other issues material to their purchase or rent. Claims of Copyright Infringement & Related Issues (17 USC § 512 et seq.)