RESIDENT SELECTION CRITERIA
Equal Housing for All: Concept Real Estate does not discriminate on the perceived basis of race, color, sex, religion, handicap, familial status, sexual orientation, national origin, LGBT, or any other class protected by applicable law.
Rental Application: Applicants must be of legal age, eighteen (18) years and over. Everyone who will be residing in the home and if over the legal age of eighteen (18) years must submit an application and pay the application fee. In order to help us complete your application in a timely manner, we ask that you complete every section of the application. There should be no lines left blank. If a line does not apply, please fill in with N/A. Be sure to sign the application and date it where indicated.
Occupancy Standards: Based on local City occupancy requirements.
Income Requirement: The gross monthly income of all lease holder(s) will be considered jointly, and should equal 3 times the rental rate of the home. And/or debt to rent income ratio lower than 35%. All income must be verifiable. Verifiable income includes 1 month most recent pays stubs, a recent offer letter from your current employer, or the previous year’s tax returns. Section 8 vouchers and certificates may be accepted and are subject to approval of the property management team.
Self-Employment: Must provide the previous 2 year’s personal income tax return and the previous six months personal bank statements as evidence of sufficient income. Persons who hold jobs that are commission only, base salary plus commission, tips, or bonus will be considered self-employment.
Employment Verification: Lease Holder(s) must have stable and verifiable employment or, if unemployed or retired, will be considered self-employed and must meet the guidelines for self-employment.
Rental History: Up to 36 months of residency history will be reviewed and must exhibit no derogatory references (such as evictions, filings of initial evictions, or residential collections), and must have given 30 day notice to vacate to previous landlord. Any debt owed to an apartment community and/or utility company must be paid in full before the application can be approved. Forcible Entry and Detainers (Evictions) due to property damage, unpaid rent, drug use or any criminal activity will not be accepted under any circumstance. If you have no prior verifiable rental history, you will be assessed an additional fee of 1 months deposit or asked to provide a qualified Co-signer.
Credit History*: Although our decision is not solely based on credit, credit history should show that the resident has paid bills on time and does not have a history of debt write-offs or collection accounts. Any money owed to a previous landlord or to any utility company is cause for denial. Residency may also be denied due to poor credit history.
Bankruptcies: Bankruptcies must be closed for more than 30 days for consideration. Open Bankruptcies will be declined.
Co-Signer/Guarantor: A Co-Signer/Guarantor and/or additional security deposit may be required in the case of one of the following: 1) No verifiable income for full-time students; 2) Unsatisfactory credit rating; 3) Unverifiable rental history; 4) Unsatisfactory Income requirements. The Co-Signer/Guarantor must pass the same application and screening process, pay appropriate application fee, meet all the same requirements as the applicant and have a strong credit rating, verifiable income of at least 5 times the rent and their own rent or mortgage payment
Criminal History: Concept Real Estate makes every effort to provide a safe and stable housing environment for its tenants. Our application process is transparent and thorough, and any applicant who is flagged with criminal history will undergo an additional level of screening to determine the amount of risk the applicant may pose to our property.
*Please note that we request a hard inquiry credit report.
Pets: Except as required by law, No animal or pet may be kept in, on or about the apartment or home, even temporarily, without our prior written consent.