Bridgewood Ranch Apartments

Sunchase American  

RESIDENT SCREENING POLICY FOR CONVENTIONAL APARTMENTS

Please also note that these are our current rental criteria: nothing contained in these requirements shall constitute a guarantee or representative by us that all residents and occupants currently residing in the community have met these requirements. There may be residents and occupants that have resided in the community prior to these requirements going into effect; additionally, our ability to verify whether these requirements have been met is limited to the information we receive from the various resident credits reporting services used. It is policy of this community to comply with all applicable fair housing laws including those, which prohibit discrimination against any person based on race, sex, religion, color, familial status, national origin, or handicap.

1.                                                          

   One Bedroom                        3 occupants

   Two Bedroom                        5 occupants                               
   Three Bedroom                  7 occupants

    

   2. Age:  Applicants must be 18 years of age or older unless deemed to be an adult under applicable law with respect to execution of contracts.

    

   Credit:  A credit report will be completed on all applicants to verify account credit ratings. Income plus verified credit history will be considered in determining rental eligibility and security deposit levels. Bankruptcies must be 24 months or older and discharged and will require an additional deposit. Unfavorable accounts, which will negatively influence this evaluation, include, but are not limited to: collections, charge-offs, repossessions, and current or recent delinquencies.

• Evictions are an automatic denial.
• If you owe another property, it must be paid off and proof of pay-off must be supplied to us before an application can be approved.
• If your application is approved with conditions, the condition will be determined after review.
• If your application is not automatically approved with our automated screening system, we will review your credit. It may be possible that we can approve your application with an approval fee plus an additional deposit to be determined based on your credit issues.  Determined on a case by case basis.

4. Income:  Gross income for all applicants in one apartment home will be combined and entered into the credit-scoring model for income eligibility. All applicants will be asked to produce consecutive and most recent pay stubs for the last 4 weeks from Application Date. Applicants must have a minimum combined gross income of 2.5 times the monthly rent. Additional sources of verifiable income may be considered. These sources may include child support, grants, pensions, GI benefits, disability, trust funds, social security, and savings accounts.  Some credit scoring results will necessitate further income verification in such instances, verification with employer will be completed, or applicant may be asked to produce additional financial statements/records.

5. Employment:  If employment is to begin work shortly, the applicant must provide a “letter of intent” to hire from the employer that states the start date and compensation.

6. Self Employment, Retired, or Unemployed:  Such applicants must provide the previous year’s income tax return and the previous two-month’s back statements, or twelve months of financial statements and must exhibit non-negative references.

7. Criminal History:  A criminal background check will be conducted for each applicant and occupant age 18 years or more. The application will be denied for any of the following reported criminal related reasons.

• Registered Sex Offender
• Capitol Felony
• First-Degree Felony
• Second-Degree Felony- 20 years from the completion of sentence
• Third Degree Felony- 10 years from the completion of sentence
• State Jail Felony- 3 years from completion of sentence unless crimes against a person or property then its 6 years from the completion of sentence
• Class A Misdemeanor- 2 years from the completion of sentence
• Class B Misdemeanor- 1 year from the completion of sentence
• If convicted of a sexually violent offense, or a violent act under Section 3g, 42A.054, Texas Code of Criminal Procedure

• Any of the above related charges resulting in “Adjudication Withheld” and or “Deferred Adjudication”

Please remember that this requirement does not constitute a guarantee or representation that residents or occupants currently residing in our community have not been convicted of or subject to deferred adjudication for a felon, certain misdemeanors or sex offenses requiring registration under applicable law; there may be residents or occupants that have resided in the community prior to the requirement  going into effect; additionally, our ability to verify this information is limited to the information made available to us by the resident credit reporting services used.

8. Rental History:  Some credit scoring results will necessitate an evaluation of verifiable rental or mortgage payment history for the last 24 months. In these instances, applicant must have a minimum of 6 months cumulative verifiable rental or mortgage payment history within the last 24 months. In such instance, if a previous property owner cannot be contacted, six consecutive months of proof of payment must be verified and a copy of the lease contract must be provided. Applicants not having verifiable rental mortgage history may have the option to pay an additional deposit of one-month rent or secure a Guarantor.

Residency will automatically be denied for the following reasons:

1.  An outstanding debt to a previous property owner or an outstanding check must be paid in full.
2.  A breach of a prior lease or a prior eviction of any applicant or occupant.
3.  More than four late pays and two NSF’s within the last 12 months.

9. Guarantors:  Guarantors will be accepted for applicants who are first-time renters or students. The guarantor will be required to complete an application and pay a full application fee. Guarantors must have a gross monthly income 4 times the monthly rent and meet all other qualifying criteria identified in this screening policy. The guarantor will be asked to sign a Lease Guaranty Agreement to support this application. Only a relative will be considered as guarantors.

10. Animals: Bridgewood Ranch Apartments will accept dogs up to 75 lbs or domestic cats. The deposit will be an additional $500.00 per pet with $300 of each being non-refundable plus $10.00 monthly pet rent per pet. Breed restrictions are as follows: Doberman, German Sheppard, Mastiff, Bull Mastiff, Dalmatian, Pit Bull, Staffordshire terrier, Chow, any wolf hybrids and Rottweiler. Limit two pets per apartment.

11. Vehicles:  Vehicles parked illegally will be towed at the vehicle owner’s expense.  Guidelines are posted on entry gates, and are available upon request.  It is your responsibility to follow guidelines.

12. Water Furniture:  Water furniture will only be allowed in first floor with proof of fully paid insurance for the term of the lease.

13. Falsification of Application:  Any falsification in Applicant’s paperwork will result in the automatic rejection of Application. In the event that an applicant falsifies his/her paperwork, owner has the right to hold all deposits and fees paid to apply towards liquidated damages.

Application will only be considered when the Application has been fully executed and returned, and all applicable fees have been paid. Application are non-refundable. Administrative fees and deposits may or may not be non-refundable. Please refer to the TAA lease agreement for details. I have read and understand the entire resident screening policy of this community.

* A $75 admin fee is due at your time of move in*