RENTAL CRITERIA

Qualifying Guidelines & Application Procedures

The following rental criteria and application procedures have been compiled to ensure that a Acacia Property Management community is your BEST MOVE.

DISCLOSURE OF QUALIFYING CRITERIA

All applications for apartment homes 1) will be accepted on a first-come, first-served basis, 2) are subject to the availability of the apartment type requested, 3) will be approved by complying with the rental criteria listed below, 4) require the receipt of the application fee and hold fee. Rental applications must be completed in their entirety. Any omissions or falsifications may result in rejection of an application or termination of lease.

APPLICATION REQUIREMENTS:

Each individual age 18 and older must complete a separate rental application and pay an application fee.

The application must include the following items upon submission (see below for full requirements):

• Copy of identification (driver’s license, state ID, military ID, or passport).
• Proof of income (last 3 months of paycheck stubs and/or documents listed under “acceptable income documentation”).
• Application fee and hold fee, paid electronically or by cashier’s check. No cash or checks will be accepted.
• A nonrefundable application fee of $85 per applicant.
• Completely filled-out application, with all proposed occupants under age 18 listed.

OCCUPANCY STANDARDS:

1 Bedroom: 2 people + 1 infant (24 months or younger)

2 Bedroom: 4 people + 1 infant (24 months or younger)

3 Bedroom: 6 people + 1 infant (24 months or younger)

QUALIFIED INCOME:

The combined monthly income of the applicant(s) must equal 2.5X the amount of the monthly base rent. Income includes all verifiable sources including, but not limited to:

employment, retirement, subsidies (property-specific), court-ordered child support, alimony, Social Security, etc. Verification of income is required in writing and must be able to be confirmed. Self-employment income may be verified with a copy of the applicant’s most recent tax return and concurrent bank statements for the 3 months preceding the current month (self-employment income will be calculated based on monthly deposited and ending bank balance for each month).

EMPLOYMENT & INCOME:

Each applicant’s employment and proof of income will be verified. The sufficiency of your income, length of consistent income, and ability to verify the stated income will influence the landlord’s decision to lease the property to you.

The landlord requires a monthly income of at least 2.5X monthly base rent and 6 months of consistent verifiable employment/source of income. Those who lack such employment/source of income history may be subject to additional fees or may not qualify.

ACCEPTABLE INCOME DOCUMENTATION:

Please have at least 1 of the following forms of acceptable income documentation before you apply to expedite the process. All copies must be legible.

RELOCATION:

Offer letter (transfer with current employer) or income verification from the applicant’s employer: must be current or for a job transfer starting within 2 weeks of move-in, on company letterhead (or notarized), and signed by the appropriate Human Resources or company officer with her/his contact information.

SELF-EMPLOYED/COMMISSIONED:

Prior year’s tax return and bank statements (the most recent 3 months of personal or corporate bank statements are required to calculate the gross monthly earning per household). Self-employment income will be calculated based on monthly deposited and ending bank balance for each month.

• Note: If necessary, additional months or documents may be requested.
• No joint bank accounts may be used unless all joint owners apply as leaseholders.
• No prepaid or PayPal accounts will be accepted.

HOURLY/SALARIED APPLICANTS:

A minimum of 3 full months of pay stubs from your employer. Tax refunds will not be accepted as monthly income.

SOCIAL SECURITY DISBURSEMENT LETTERS:

A disbursement or current year award letter showing monthly awarded amount.

• Note: If necessary, additional documents may be requested.

PENSION, RETIREMENT, VA BENEFITS:

A disbursement letter, statement of benefits, or current year award letter showing monthly awarded amount. · Note: If necessary, additional documents may be requested.

CHILD SUPPORT:

Proof of payments from the attorney general reflecting consistent payments for the past 6 months. · Note: If necessary, additional documentation may be necessary.

CREDIT HISTORY:

Credit history must be favorable. Unfavorable accounts may include, but are not limited to: balance due to past landlord, unpaid utility bills, unpaid judgments, collection accounts, excessive late payment, delinquent, liens, foreclosures within the past 3 years, and an active bankruptcy or a bankruptcy within the past 3 years. Total unfavorable accounts that have previous landlord filings, landlord debts, and landlord judgments may result in decline of application or other restrictions up to and including additional risk fee requirements.

PAST RENTAL HISTORY:

Within 36 months (3 years) of the application date, you must have 9 months of verifiable rental history, which would include, but is not limited to: timely rental payments, sufficient notice to vacate, and zero balance remaining. All lease violations will be evaluated on a case-by-case basis.

• Automatic rejection for any evictions, broken leases, or skips within the past 36 months (3 years).
• Applicants that have a balance owed to a past landlord will be evaluated on a case-by-basis.
• First-time renters may qualify with additional fees and/or requirements.
• For any/all applicants who held a mortgage on a home that was your primary residence over the past 36 months (3 years), 9 months of consistent positive pay must be reflected. (This only pertains to applicants who are using homeownership to meet rental history guidelines.)

Your application may be declined if your past rental history includes lease violations, late payments of rent, multiple returned checks or electronic payments, nonpayment of rent, current landlord disputes or court proceedings, etc. Multiple (2 or more) landlord debts, judgments (both paid and unpaid), and negative past rental histories may also result in a declined application.

Special Exceptions for Landlord Debts and Unfavorable Credit History:

In some cases, we may make special acceptations for applications with unacceptable rental history and 1 landlord debt. In those circumstances, you must meet all of the following qualifications for your application to be considered:

• Prospective resident may be required to pay landlord debt in full and provide proof of payment (verifiable receipt or letter from landlord).
• Rental verifications will be submitted for all landlord debts that appear on an applicant’s credit report. Since those verifications are usually not favorable, a resident must also have a favorable rental reference to counteract the unfavorable one.
• Any landlord debt (paid or unpaid), regardless of circumstance and situation, will require additional risk fees upon move-in.

CRIMINAL BACKGROUND CHECK:

A criminal background check will be run on all applicants. An applicant may be automatically denied in the event he/she has been convicted of a felony or misdemeanor for any crime listed below. An automatic denial will also occur should an applicant appear on the list of known terrorists and wanted fugitives as provided by the Office of Foreign Asset Control (OFAC); federal agencies, including the FBI; or other state and local law enforcement agencies.

The applicant agrees that the lease shall be terminated if the applicant, after moving onto the property, is convicted of any of the crimes listed below and/or appears on a list of known terrorists or wanted fugitives or in the national sex-offender database.

Note: This requirement does not constitute a guarantee or representation that residents or occupants residing at this apartment community have not been convicted of a felony.

Felony Convictions

• Drug-Related Offenses (6 years) · Bad Checks (6 years)
• Fraud or Forgery (6 years) · Trespassing (6 years)
• Assault (10 years) · Theft, Robbery (15 years)
• Disorderly Conduct (6 years) · Prostitution (6 years)
• Family Related Non-Violent (10 years) · Arson (6 years)
• Murder (25) · Manslaughter (25)
• Any/all other Violent (6 years) · Rape (25)
• Pedophile (25) · Sex-related crimes (6 years)
• Extortion, Embezzlement (6 years) · Forgery, Larceny (6 years)
• Possession of Stolen Goods (6 years) · Destruction of Property (6 years)

A lease guarantor may be used under the following conditions:

Misdemeanor Convictions

• Assault (3 years) · Drug-Related Offenses (2 years)
• Bad Checks (1 year) · Fraud (1 year)
• Purposely obstructing law (1 year) · Trespassing (1 year)
• Theft, Robbery (2 years) · Prostitution (2 years)
• Weapons Law (3 years) · Family Related Non Violent (2 years)

LEASE GUARANTOR:  

A lease guarantor may be used under the following conditions:

• Applicant is currently a full-time student (12 hours or more) or Has Graduated College within the past 4 months (must have verifiable offer letter)
• Your monthly verifiable income is less than the above-listed monthly income requirement.
• The guarantor is a family member, such as a parent or other relative.
• The guarantor lives within the United States and has a Social Security number.
• The guarantor meets our credit and criminal history requirements.
• The guarantor has verifiable monthly income that equals 5x the amount of the rent.
• The guarantor will be a SIGNOR on the Lease Agreement and will also be fully responsible for the Lease Agreement if the occupying resident(s) default. You may not use a lease guarantor if:

You may not use a lease guarantor if:

• Applicant is not currently a full-time student (12 hours or more) or has not Graduated College within the past 4 months (does not have a verifiable offer letter)
• You are declined because of unacceptable credit history.
• You are declined because of unacceptable rental history.

Guarantor has landlord debts, evictions, rental judgments, or foreclosures (paid or unpaid).

PET POLICY INFORMATION:

The acceptance of pets is at the discretion of each individual property owner. Per pet, you are required to pay a $300 pet fee (nonrefundable), monthly pet rent, and doggie DNA fee (property specific). The number of pets is limited to 2 per home.

Accepted Pet Types:

Cats, Dogs, Birds

Fish & Reptiles (No pet fee or pet rent required) **Aquariums may not exceed 20 gallons

Animal must have a current registration with Petscreening.com

The following animals are excluded:

1. Any animal with prior biting history.
2. Any exotic pet, including, but not limited to, lions, tigers, alligators or snakes.
3. Any pure breed animal and/or a mix of any of the following breeds:

Akita, Alaskan Malamute, Bull Mastiff, Chow, Doberman Pinscher, German Shepherd, Great Dane, Husky, Bull/Pit Terrier, Rhodesian Ridgeback, Rottweiler, St. Bernard, Staffordshire Terrier, Wolf Hybrids

SUPPORT ANIMALS:

Acacia Property Management, in accordance with Federal Fair Housing Laws, does not consider a support animal a pet, nor do we require or collect additional pet fees or rent for such. There is no pet application fee; however, we do require that you have your health provider complete our Letter for Assistance or Service Animals form, which indicates your need for a support animal. All support animals are prohibited from the property until the process is complete and approved.

ACKNOWLEDGEMENT:

You declare that all your statements in this Application are true and complete. Applicant’s submission of this Application, including payment of any fees, is being done only after applicant has fully investigated, to its satisfaction, those facts which applicant deems material and necessary to the decision to apply for a rental unit. You authorize us to verify your information through any means, including consumer-reporting agencies and other rental-housing owners. You acknowledge that you had an opportunity to review our rental-selection criteria, which include reasons your application may be denied, such as criminal history, credit history, current income, and rental history. You understand that if you do not meet our rental-selection criteria or if you fail to answer any question or give false information, we may reject the Application, retain all application fees as liquidated damages for our time and expense, and terminate your right of occupancy. Giving false information is a serious criminal offense. We may at any time furnish information to consumer-reporting agencies and other rental-housing owners regarding your performance of your legal obligations, including both favorable and unfavorable information about your compliance with the Lease, the rules, and financial obligations. Fax or electronic signatures are legally binding. You acknowledge that our privacy policy is available to you.

Images on our website may represent a sample of a unit and may not reflect specific details of any unit. Additional provisions or changes may be made in the Lease if agreed to in writing by all parties.

• We will not take a particular dwelling off the market until we receive a completed Application and any other required information or monies to rent that dwelling.
• Applicants understand that they will not be able to occupy or take possession of an apartment unit until all applicable monies owed are paid in full and supporting paperwork is complete and signed by all parties.
• Applicant understands that application fees, hold fees, and risk fees are nonrefundable. Declined applicants will not receive any refunds for application or hold fees.
• In the event the applicant is required to pay a risk fee and then cancels, the risk fee will be forfeited as liquidated damages.
• Anyone paying a risk fee, pet fee, and/or prorated/first-month charges may pay as follows:
• 6 days or more before move-in: electronic (ACH/credit card), cash, money order, or cashier’s check.
• 5 days or less before move-in: money order or cashier’s check.

Applications and lease documents are binding legal documents when signed. Additional provisions or changes may be made in the Lease if agreed to in writing by all parties.