POSITIVE references from landlords for the previous 3 years are required for each applicant.

A. A GUARANTOR OF LEASE will be required if an applicant for an apartment has no previous independent rental or home ownership history.

B. A negative landlord reference will result in the disqualification of all applicants.

2. INCOME QUALIFICATIONS

We require a verifiable income source of all applicants in order to ensure payment of the monthly rent obligation. If no verifiable source is available, a Guarantor of Lease will be required.

3. OCCUPANCY STANDARDS

A. 1-bedroom units allow for a maximum of two people.
B. 2 bedroom units allow for a maximum of four people.
(2 adult occupant limit)
C. 3 bedroom units allow for a maximum of six people.
(3 adult occupant limit)

D. Any existing resident who would like to add a person to the lease agreement, requires that the person meet all eligibility requirements.

4. CREDIT POLICY

We will obtain a credit report on each applicant. The trade line history for the past 12 months will be reviewed. A Guarantor of Lease or increased deposit will be accepted, with restrictions, if the applicant has negative credit.

Each applicant must meet the following criteria:

A. Bankruptcy

All bankruptcies must have been discharged for at least 6 months. No new credit
needs be established, but there can be no new credit problems.

B. Judgments

All judgments must have been paid in full and verified as such. An exception will be made if judgments have been set up on a payment plan and are being paid as agreed. Verification of the plan and payments must be obtained from the creditor(s).

C. Collection Accounts

All items placed for collection must be paid in full.

D. Medical Collections

All medical collections and trade lines will be disregarded.

E. Trade Lines

1.75% of all reported accounts must be rated R1, R2, I1 or I2. No more than 25% of accounts may be rated an R3-R9.

2. No account can have a past due balance. All account balances must be brought to a current status.

3. Fitness USA trade lines will be disregarded.

F. IF STANDARD CREDIT CRITERIA ARE NOT MET BY AN APPLICANT, THE FOLLOWING OPTIONS ARE AVAILABLE WITH RESTRICTIONS* :

1. Pay an increased security deposit

A. The applicant must pay a security deposit equivalent to two full months rent in addition to the regular $200 deposit. This deposit will include any short-term lease fees and will exclude any discounts that the applicant may be eligible to receive.

B. Any security deposit special is inapplicable, applicant will pay full $200 deposit.

C. Both security deposits will be held against any back rent due, damages, eviction costs.

D. Additional two months worth of security deposits may not be used to pay any current rent charges.

OR
2. Obtain a Guarantor of Lease who meets the following criteria

Trade Lines (from the past year)

A. All credit accounts must be rated an R1, R2, I1 or I2.
B. No account can have a past due balance.
C. There must be at least three trade lines that have each been open for a
minimum of one year.

Collections: There may not be any unpaid accounts in collections.

Bankruptcy: There can be no bankruptcies within the past five years. If there is a bankruptcy over five years old, there cannot be any new negative credit.

Income: Rent must not exceed 30% of applicant's annual gross income.

Medical Collections: All medical collections are disregarded.

Fitness USA: Collections and past due amounts from Fitness USA are disregarded.

*A $25.00 application fee will be obtained for co-signers of applicants that have failed credit policy.

*In order to qualify for a cosigner or increased deposit, all tradelines within the past 12 months and all unpaid collections will be analyzed to obtain a score from 1-10. All unpaid collections will be considered a 9. Scores of 6 or greater would not qualify for increased deposits or cosigner and would denied unless their initial lease term was paid prior to move-in.

MISREPRESENTATION ON THE APPLICATION OR FAILURE TO DISCLOSE REQUESTED INFORMATION ON THE APPLICATION WILL RESULT IN DISQUALIFICATION FOR RESIDENCY.

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