Cottage Hill and Mt Stuart Apartments Screening Criteria

Rental History: 

12 months valid, verifiable rental or mortgage history.

Valid rental history is a written lease or month-to-month agreement. OR a mortgage showing on your credit report. 

If rental history is less than 12 months then an increased deposit -OR- cosigner may be requested,
recommendation will be dependent on credit history, level of income and length of employment.

Credit History:

At least 3 accounts have been established for 1 year in good standing. (Not including student loans)

If derogatory credit history (excluding medical & student loan collections) is more than $100 but less than
$3000 an increased deposit -OR- cosigner may be requested, recommendation will be dependent on level of
income and length of rental history. Collections above $3000 will be denied. 

650 Credit Score or above, below 650 will require an Increased Deposit or Cosigner.

No Credit Profile: A Co-Signer or Increased Deposit will be required.

Employment: No Minimum Requirement.

Income: 2.5 times the rental amount in gross, household income required.

If income is under 2.5 times the rental amount an increased deposit OR cosigner will be required.

Recommendation will be dependent on level of income, length of rental & employment history and credit history.

Income Verification: (Acceptable documentation for verifiable income varies based on the income source).

• Work for an Employer:
• 4 Consecutive (most recent) pay-stubs.
• New Job:
• Offer Letter
• Self Employed:
• Most Recent Tax Returns
• Bank Statements – Last 3 Months
• Retired: (Whatever is Applicable)
• Pension Statement
• Statement of Social Security Benefits
• Bank Statements
• Investment Accounts
• Military:
• Leave & Earnings Statement (LES)
• International Students:
• I20

**Federal, State, and local subsidies will not be considered in rent-to-income ratio**

COSIGNER RENTAL CRITERIA: A cosigner will be APPROVED if ALL of the qualifications below are met, if the cosigner does not meet any 1 of the following criteria, then the cosigner will not qualify.

• RENTAL HISTORY: 2 years of valid and verifiable rental or mortgage history with no late payments
• CREDIT HISTORY: At least 4 accounts in good standing with less than $100 in derogatory accounts
• EMPLOYMENT: 12 months with current employer or previous employment in same field of work
• INCOME: 4 times the rental amount of the unit in verifiable, garnish able income

GROUNDS FOR DENIAL WILL RESULT FROM THE FOLLOWING ON ALL APPLICANTS:

• Verified eviction showing on credit report or confirmed with landlord.
• Unpaid Rental collection verified on credit report
• Balance owing to landlord.
• Poor landlord reference.
• 2 or more late payments and/or NSF checks and/or noise complaints within a 12-month rental period.
• Open (non-discharged) bankruptcy.
• Past due or foreclosed mortgage.
• Derogatory Credit Accounts over $3000
• Falsification of rental application.
• Breaking a lease agreement, that will result in a collection filing.

We do not automatically deny applicants based on criminal history. Rather, criminal history is considered based on the nature of the offense and time passed since the date of final disposition (i.e., applicant was released from prison, probation, or parole). We limit consideration to those convictions, the dates of final disposition of which pre-date the report by no more than seven years. 

Note that convictions for the following offenses may result in denial:

Murder (1st and 2nd degree) Kidnapping (All counts)

Manslaughter (1st degree) Theft (1st & 2nd degree)

Assault 1st, 2nd & 3rd degree)

Burglary (1st, 2nd degree & vehicle prowling 1st degree, Residential)

Robbery (1st & 2nd degree) 

Malicious Mischief (1st degree)

Rape (All counts) 

Arson (1st, 2nd degree & Reckless Burning 1st degree)

Rape of a child (All counts) 

Possession with intent to Deliver (All counts)

Child molestation (All counts) Delivery or Sale (All counts)