Screening Criteria
Income
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Total combined gross monthly income must be at least 3X the amount of monthly rent (e.g. $1000 monthly rent x 3 = $3,000 monthly income).
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Stated income must be verified in writing, which may include a pay stub, verification form on company letterhead, letter of benefit assignments or tax statements, 2 Years tax returns, Bank statements.
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Applicants who do not meet the income requirements will be required to provide a qualified co-signer (Co-signer must make 6X the rent and own Real Estate. Co-signers are only accepted for income lower than 2X rent or low credit score. Co-signers are not accepted for Utility collections, Property Management , Collections or Evictions. )
Rental History
The following items may disqualify rental acceptance:
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Previous unpaid eviction(s)
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Outstanding delinquent payments owed to previous or current landlord
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History of lease violations (i.e.: late payments, NSF checks, noise complaints, skips or any negative reference)
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Applicants with no previous rental history will be required to provide a qualified co-signer or furnish additional funds as determined by Landlord including but not necessarily limited to an increased security deposit amount
Criminal Background Check
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All applicants require a criminal background check
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Violent or drug related felony convictions will disqualify an applicant from being a resident.
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Misdemeanor convictions or gross misdemeanor convictions will disqualify an applicant for up to three (3) years on crimes against persons, property or drug related illegal activity. The time period starts upon the date of the disposition of the crime
Proper Identification
Applicants must have a Government issued Photo ID.
Credit History
The following items may disqualify rental acceptance:
Bankruptcy:
If the applicant has a credit score below the optimal score determined by the application scoring guidelines the application may still be considered with additional fees including but not limited to Risk Mitigation and increased security deposit fees. Credit FICO Score must not fall below 600.
Credit history will be weighed in conjunction with all other rental criteria. American Stages Realty & Management. reserves the right to deny any applicant based solely on a history of any delinquent credit activity, landlord verification, or insufficient debt to income ratio.
Applicants with no previous credit history will be required to provide a co-signer who meets the income and credit requirements of the Rental Acceptance Criteria, or furnish additional funds as determined by Landlord including but not necessarily limited to an increased security deposit at twice the deposit amount in effect at the time of approval.
American Stages Realty & Management declines applicants with a history of Utility Collections or Collections from a prior landlord.
All properties remain available until both the security deposit is paid and the lease agreement is fully signed by all parties involved. Completed applications remain valid for 90 days from the date of credit processing and are applicable to all properties managed by American Stages.
Application fees are non-refundable and are collected to cover expenses related to credit report acquisition and application processing administrative expenses incurred by the property management company. In accordance with the Fair Credit Reporting Act, if your application is declined, you will receive an adverse action letter, and you have the right to request complimentary copies of your credit report directly from credit reporting agencies.