Rental Criteria

 In

To uphold fair policies, we use the same rental criteria for all applicants, which includes a credit check, residential verification, and employment verification. Combined income for the apartment must also reach at least 2.5x total rent.

Thank you for your interest in The Vine Apartments as your new apartment home.

In order to assist you in making a decision, we have listed below our qualifying criteria. Each applicant must read and sign the criteria guidelines.

THIS COMMUNITY WILL NOT DISCRIMINATE AGAINST ANY PERSON BASED ON RACE, COLOR, RELIGION, SEX, NATIONAL ORIGIN, FAMILIAL STATUS, DISABILITY, VETERAN STATUS, MARITAL STATUS, SOURCE OF INCOME, SEXUAL ORIENTATION OR GENDER IDENTITY.

OCCUPANCY STANDARD:

  • The maximum occupancy standards are listed below.

MAXIMUM OCCUPANCY STANDARDS

  • One bedroom = 2
  • Two bedroom = 3
  • Three bedroom = 4

AGE REQUIREMENTS:

  • Lease Holder(s) must be 18 years of age or older (Except those protected by familial status).
  • All applicants 18 years of age and older must fully complete, date, and sign a separate application.

 

IDENTIFICATION REQUIREMENTS:

  • All applicants must provide a valid Social Security Number, Alien Number, or I-94.
  • Applicants are required to submit a valid government-issued photo identification for verification.
  • A non-refundable application fee must be paid for each applicant 18 years of age and older for processing credit and criminal background.

 

INCOME REQUIREMENTS:

  • The gross monthly income of all Lease Holder(s) will be considered jointly, and must equal no less than 2.5 times the monthly market rent amount of the apartment.
  • Prior to approval, all income must be verified by obtaining any of the following:
  • copies of last two consecutive payroll check stubs
  • previous year W-2 or 1099
  • copies of last two consecutive bank/financial statements
  • proof of child and/or spousal support payments
  • proof of social security income, disability or other government income
  • proof of retirement or trust fund income
  • current offer letter for income/employment verification
  • provide proof of assets that meet the income requirement
  • self-employed must provide previous year’s personal income tax return and two months of personal bank statements as evidence of sufficient income. Lease Holder(s) that hold a job that is based mainly off of tips, bonuses or commissions will be considered self-employed.
  • financial aid documentation from the students school that clearly states portion designated for housing
  • Students that their income does not meet the requirement will need a qualified cosigner

 

GUARANTORS:

  • A guarantor will be accepted only for a lack of rental history, lack of credit or not meeting income requirements as stated above.
  • Guarantors will not be accepted as a substitute for negative rental.
  • Guarantors will be held responsible for the lease and any other costs incurred on the lease such as damages should the occupying resident(s) default.
  • Guarantors must fill out an application and will be subject to application fee(s), rental/mortgage verification, credit and criminal background checks.
  • Provide proof of income at 4.0 times the monthly market rent of the apartment (reference income requirements for verifiable income documents)
  • Guarantor must complete and sign a lease guaranty agreement if approved.

 

RESIDENCY:

  • Previous rental history will be reviewed and must exhibit no derogatory references in the last 5 years.
  • All debt owed to an apartment community must be satisfied.
  • Satisfied or dismissed evictions are considered with proper documentation.

 

CREDIT REQUIREMENTS:

  • Accounts that exceed 50.0% derogatory will negatively affect the overall scoring, which could result in the denial of the application or an additional deposit may be required.
  • Collection accounts exceeding a combined amount of $1,500.00 (excluding student loans and medical debt) will negatively affect the overall scoring, which could result in the denial of the application or an additional deposit may be required.
  • Bankruptcy if not cleared will negatively affect the overall scoring, which could result in the denial of the application.
  • A lack of credit or no credit will negatively affect the overall scoring, which could result in the denial of the application or an additional deposit may be required.

 

CONSUMER CREDIT REPORT SCORING:

  • If your application is denied or is accepted with conditions, the community will provide you the name, address and telephone number of the consumer reporting agencies which provided your consumer information.

 

CRIMINAL HISTORY:

  • Misdemeanor and/or Felony convictions consisting of but not limited to theft, forgery, fraud, assault, robbery, and violence or force to injure or harm another person are considered and may result in a denial of the rental application.
  • Misdemeanor and/or Felony convictions are reviewed and considered in accordance with the state law requirements.
  • Applicant must pass the OFAC (Office of Foreign Control) and Terrorist Watch list Search. Any persons listed will be automatically declined.
  • Registered sex offenders will be an automatic denial of the rental application.

 

APPLICATION FEE:

  • A $40.00 non-refundable application fee is required per residential application. A $75.00 non-refundable application fee is required per corporate application.

 

RENT PAYMENT/SECURITY DEPOSIT REQUIREMENTS:

  • Move-In Payment must be paid by certified cashier’s check only.
  • check, or certified cashiers check only, and NO CASH, MONEY ORDERS, or POST DATED CHECKS will be accepted for rental payments

 

ANIMAL REQUIREMENTS:

  • Pets must be a minimum of six (6) months old. Additionally monthly charge to have a pet.
  • Pets cannot exceed 100 pounds at full maturity.
  • A maximum of pets 2 per apartment.
  • Reference the Animal Addendum for details on the policies, fees, deposits, breed restrictions and assistive/companion animal policies.

 

ADDENDUM TO THE APPLICATION:

I ACKNOWLEDGE THAT I HAD AN OPPORTUNITY TO REVIEW THE COMMUNITY’S RENTAL SELECTION CRITERIA. I UNDERSTAND THAT IF I DO NOT MEET THE COMMUNITY’S RENTAL SELECTION CRITERIA OR IF I FAIL TO ANSWER ANY QUESTION OR GIVE FALSE INFORMATION THE COMMUNITY MAY REJECT THE APPLICATION AND RETAIN ALL APPLICATION FEES, ADMINISTRATIVE FEES AND DEPOSITS AS

LIQUIDATED DAMAGES FOR ITS TIME AND EXPENSE AND TERMINATE MY RIGHT OF OCCUPANCY

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