Application guidelines & criteria

This criteria is for rental property managed by HomeWorks Property Management Limited Liability Company

This property has the following pet and smoking policies:
● Pets are accepted on a property-level basis
● Smoking is not permitted in any property

Rental History Criteria:

We require that the tenant have 0 evictions on record in the last five (5) years

The following items can be considered a deniable factor:
● More than 3 late rent payments on record in a 12 month period
● More than 3 noise complaints on record in a 12 month period
● Broken lease agreements with previous landlords
● Inaccuracy or falsification of the rental application
● Owing a previous landlord or manager money

 

Income Requirement Criteria:

This property requires that the tenant has a minimum gross income of 2.5 times the monthly rent
If the applicant doesn’t meet this standard rent to income criteria, this will result in a co-signer requirement or the application will be denied.
The following items can be considered a deniable factor:
● Lack of proof of income
● Falsification of income
● Cannot meet income requirements
● Final recommendation will also be dependent on income, rental and employment history

Employment History Criteria:

This property requires 6 months of employment with the current employer or in the same line of work.

If the tenant cannot meet these standards, the following stipulations will apply.
● An increase of 100% to the security deposit.

Possible exceptions to the employment criteria include the following:
● Retired or self-employed applicants will require most recent tax returns or three months of bank statements to verify income
● Military personnel will be required to provide L.E.S. for proof of employment
● Employment requirements will be waived for international students. An I20 will be required for verification
● The final recommendation will also be dependent on income, rental and employment history
● Students may present a student loan package

Credit History Criteria:

Various factors from the credit report are used as screening criteria including the following:
● All property requires a 620 or above fico score. If the tenant has a score below this, it will result in an increased deposit or cosigner requirement.
● A bankruptcy discharge will result in an increased deposit of 100%
● A paid rental collection and/or judgment will result in a co-signer requirement or the denial of the application
● The final recommendation will also be dependent on income, rental, and employment history.

Deniable factors include:

● Unpaid rental collection or judgment(s), Unverifiable Social Security Number, Open Bankruptcy
● Judgments and/or liens in excess of $500.00
Public Records Criteria:

An eviction and criminal records search will be conducted as part of the screening process.

Deniable factors include the following
Murder (1st and 2nd degree), Kidnapping (All counts), Manslaughter (1st degree), Theft (1st & 2nd degree), Assault (1st, 2nd, & 3rd degree), Forgery, Burglary (1st, 2nd degree), Vehicle prowling (1st degree), Robbery (1st & 2nd degree), Malicious mischief (1st degree), Sexual related offenses (all counts), Arson (1st and 2nd degree), Reckless burning (1st degree), Delivery or sale of controlled substances (all counts), Possession with or without intent to deliver (all counts), Manufacturing with or without intent to deliver (all counts)
Cosigner Criteria:

This property requires that the cosigner doesn’t spend more than 30% of their gross monthly incomes on the rent.

The cosigner shouldn’t have any of the above reasons for denial.