Rental Policy
Statement Of Rental Policy | Qualification Acknowledgement
In
order to assist you with your decision on your new home, we are providing a
list of guidelines used to qualify residents for residency in our communities.
Nothing contained in these requirements shall constitute representation by UV
Residential, LLC that all residents and occupants currently residing in our
community have met or currently meet these guidelines.
FAIR HOUSING STATEMENT
UV Residential, LLC and the Owner are committed to compliance with all applicable federal, state, and local fair housing laws. It is our policy to comply with all applicable laws prohibiting discrimination, including those that prohibit discrimination based on race, color, religion, national origin, sex, familial status, or disability.
IDENTIFICATION
Applicants
must present a government issued photo identification card for all persons age
18 years and older that will be living in the apartment.
APPLICATION AND FEE
A separate
rental application must be completed, dated, and signed by each applicant and
any individual over the age of 18. All individuals 18 years of age, or legally
considered an adult by law if not living with a legal guardian, are required to
be made a party to the lease. Spouses may complete one application. A non-
refundable application fee, deposit and/or bond are required at the time an
application is submitted.
OCCUPANCY
Our
general policy is that unit occupancy shall not exceed two persons per bedroom
plus one additional occupant. Children younger than six months are not
considered occupants in determining this factor for eligibility. The Company
will also comply with applicable federal, state, and/or local laws that require
different occupancy ratios.
Studio
Apartments: Up to 2 occupants
One-bedroom
Apartments: Up to 3 occupants
Two-bedroom
Apartments: Up to 5 occupants
Three-bedroom
Apartments: Up to 7 occupants
INCOME
All
applicants must have a combined source of income in an amount no less than 2.5
times the rental rate. Acceptable Sources of Income may be any of the
following: Three (3) most current paycheck stubs. If applicant is starting a
new job, the future position and salary must be verified in writing via an
offer letter on company letterhead and effective on or before the proposed
move-in date. If applicants are self-employed or receive money from
non-employment sources, proof of income through: (1) a copy of the previous
years tax returns, (2) a financial statement from a CPA verifying income, or
photocopies of three (3) most current bank statements illustrating the ability
to pay rent through the entire lease term. (Other income may mean, but is not
limited to, alimony/child support, trust accounts, social security,
unemployment, welfare, grants/loans).
INCOME RESTRICTED
If you
are applying at an income-restricted community please review the supplemental
income exhibit for specific income qualifications.
RENTAL HISTORY
Less than
satisfactory rental history including, Evictions and/or Outstanding Debt to a
previous Landlord over $2000 may result in an automatic denial. Up to 24 months
of rental history may be verified on present and previous residence. A positive
record of prompt monthly payment, sufficient notice, with no damages is expected.
For applicants who are homeowners, permission must be granted to verify payment
history with the bank or lending institution.
CREDIT HISTORY
Our
screening agency evaluates credit, debt to income and rental history against
indicators of future rent payment performance. Any unsatisfactory finding may
result in the requirement of an additional deposit, guarantor, or denial. If
the applicant is rejected for poor credit history the applicant may contact the
credit-reporting agency that provided the credit report. An applicant
rejected for the unsatisfactory credit is encouraged to obtain a copy of the
credit report from the agency, correct any erroneous information that may be on
the report, and resubmit the application to this community.
GUARANTORS
Are only
accepted for full time students. All guarantors must have a combined source of
income in an amount no less than 6 times the market rental rate. If a guarantor
is needed, they must meet the entire qualifying criteria as presented herein.
The guarantor must pay an application-processing fee and sign the Guarantor
Addendum.
CORPORATE LEASES
An
application can be submitted in the name of a company as long as the business
entity has a valid Federal Tax ID number that is verifiable by the Secretary of
State in the state in which the community is located. A credit report will be
accessed to determine the companys ability to make timely payments of rent.
The company must provide a minimum of thee (3) trade references that will be
verified. A larger application fee or additional deposit may be required. All
occupants over the age of 18 must submit apply and criminal background must be
processed and approved prior to occupancy. The below criminal history
guidelines will apply.
CRIMINAL HISTORY
Criminal
backgrounds on all leaseholders and occupants over the age of 18 will be
checked. It is the policy of this community to obtain information on past
criminal activities of prospective residents. Such criminal information may
include arrests, convictions, and pending criminal actions. This community
shall not deny applicants solely on the basis of arrests or pending criminal
actions. Those may be included with other factors that may as an aggregate be
determined to warrant denial. This community shall not allow persons who are on
any sex offender list. Likewise, persons with criminal convictions which relate
to the manufacture or distribution of controlled substances shall be denied.
Persons whose convictions relate to possession of controlled substances may be
accepted if they provide evidence of completion of a treatment program. Persons
who have convictions involving violence, gang activity, arson, and injury to
persons will be required to provide additional information to establish that
they do not pose a risk to the property or the other residents. In the
evaluating prior criminal history, this community will consider the type of
crime, severity of the crime, and the length of time since conviction and
release. Terms and conditions of parole and probation may also by considered.
Denied applicants may petition for reconsideration by providing information
regarding mitigating circumstances and other information that may assist the
community in a review of the applicants criminal history.
ANIMALS
Pet
restrictions vary at each community. Assistance animals, of course, are not
pets. Assistance animals for special needs are accepted with third-party
medical care giver authorization. If you have pets, please see your leasing
representative for more information. A non-refundable pet fee (if allowed),
refundable pet deposit and monthly pet rent will be charged per pet, if
allowed. All residents with pets are required to have a pet agreement on file
and must submit a veterinarian statement (no more than 12 months old)
establishing the general health of the pet and the status of all required
shots. A photograph of the pet will be made part of the lease agreement.
Ferrets, rabbits, and guinea pigs are not permitted; birds and snakes must be
kept inside and caged. Aquariums require additional insurance coverage of
$100,000 in water damage. Dogs of a class with known
vicious or aggressive propensity shall not be permitted. Examples of these
breeds (but not exclusive) are: Pit Bulls (Bull terriers or American
Staffordshire Terriers) Rottweilers, American Bulldogs, German Shepherds,
Doberman Pinschers, Chow Chows, Akitas, Great Danes, Alaskan Malamutes, Huskies
and Wolf Hybrids, full blood or mixed at any percentage are PROHIBITED from
residing at this community.
CITIZENSHIP STATUS
Applicants
who are not U.S. citizens will be required to verify that they are in the U.S.
legally and that their right to be in the U.S. will not lapse during the lease
term.
AUTOMATIC DENIAL OF APPLICATION
An
applicant will be automatically denied if they have been evicted by a landlord
in the past 24 months or have a collection or debt owing to previous landlord.
Falsification of any information on the rental application will result in an
automatic denial of application.
Please note: These are our rental
criteria. There may be residents or occupants that have resided at this
community prior to these requirements going into effect. Additionally, our
ability to verify whether these requirements have been met is limited to the
information made available to us by the various reporting services used.
Rental Scoring and Your Rental
Application
We
rely upon a Rental Score to estimate the relative financial risk of leasing
an apartment to you. In addition to estimating risk, rental scores are an
objective and consistent way of reviewing relevant applicant information and
help speed the application approval process.
How is my rental score determined?
Rental
scoring systems assign points to certain factors identified as having a
statistical correlation to future financial lease performance. Your rental
score results from a mathematical analysis of information found in your credit
report, application data, and previous rental history. Such information may
include your bill-paying history, the number and type of accounts you have,
collection actions, outstanding debt, and the number of inquiries in your
consumer report. The final number, or rental score, represents an estimated
level of risk as compared to the performance of other consumers in a range of
scores.
Because
your rental score is based upon real data and statistics, it is more reliable
than subjective methods of evaluating your information. Rental scoring treats
all applicants consistently and impartially. Additionally, your rental score never
uses certain characteristics like-- race, color, sex, familial status,
handicap, national origin, or religion as factors.
What can I do to improve my rental
score?
Your
rental score may change based upon changes of the underlying information. The
total improvement, however, generally depends on how that factor relates to
other factors considered by the scoring system. Nevertheless, to improve your
rental score, concentrate on paying your bills on time, paying down outstanding
balances, and not taking on new debt.
Notification of Denial or Conditional
Approval
You
have a right under the Fair Credit Reporting Act to a free copy of your
consumer report from Core Logic Safe Rent, LLC, the reporting agency used by UV
Residential, LLC to evaluate your background information if the request is made
no later than 60 days after you receive notification of a denial or conditional
approval. In evaluating your application, information obtained from or through
Core Logic Safe Rent, LLC, which may include credit in formation or consumer
information from one or more of the credit bureaus or consumer reporting
agencies, may have influenced UV Residential, LLC decision in whole or in
part. These consumer-reporting agencies and/or credit bureaus DID NOT make
the decision to take adverse action and are unable to provide specific reasons
why adverse action was taken.
By
submitting this application, Applicant(s) hereby consents to U.V. Residential
LLC sharing Applicants non public personal information (as defined by the
Gramm Leach Bliley Act, 15 U.S.C. 6802 (e)) with Core Logic Rental Property
Solutions, LLC and ID Analytics, Inc. (collectively, Vendors) for the purpose
of UV Residential, LLC receiving an identity verification product in connection
with my application, and for the Vendors use in the preparation of similar
reports.