S2 Residential Rental Requirements and Qualifications

 S2 Residential Communities adheres to The Fair Housing Act, Title VIII of the Civil Rights Act of 1968 (Fair Housing Act), as amended, prohibits discrimination in the sale, rental, and financing of dwellings, and in other housing-related transactions, based on age, race, color, national origin, religion, sex, familial status (including children under the age of 18 living with parents or legal custodians, pregnant women, and people securing custody of children under the age of 18), sexual orientation, marital status, gender identity, veteran status, and disability. S2’s qualification standards, include but are not limited to, the following, and will be required from every applicant.

An application must be submitted by each applicant 18 years of age or older, who will be occupying the rental apartment. All occupants 18 years old or older must qualify as per the rental requirements, except for income for students living at home. A NON-REFUNDABLE Application Fee must be paid for each applicant 18 years of age or older.  A NON-REFUNDABLE Administrative Fee must be paid when submitting the application.   If you fail to answer any question on the application, provide proper proof of income within the allotted time, or give false information, the application will be cancelled and the Holding Fee, will be retained by the owner or its agents as liquidated damages. Submission of an Application does not guarantee approval or acceptance. It does not bind us to accept the applicant or to sign a Lease. Any notice we give you or your co-applicant is considered notice to all co-applicants; and any notice from you or your co-applicants is considered notice from all co-applicants.

I. Valid Identification Required:

Valid Social Security Number or Individual Taxpayer Identification Number (ITIN)and Valid & Current State or Government Issued Identification Number are required to submit a rental application. Temporary or ‘Paper’ Identification will not be considered ‘valid.’  Identification scanning technology may be used to validate all forms of identification presented. 

• One bedroom – three (3) persons and an infant up to twenty-four (24) months
• Two bedroom – five (5) persons and an infant up to twenty-four (24) months
• Three bedroom – seven (7) persons and an infant up to twenty-four (24) months

A criminal background report for each applicant is obtained through a third-party service company for approval recommendation. Criminal history which indicates that an applicant’s tenancy would constitute a direct threat to the health or safety of other individuals or whose tenancy could result in substantial physical damage to the property of owner or others will result in rejection of the application. Applicants may be denied as outlined below:

1. For felony or misdemeanor offenses, no time limit preceding the date of the application for: murder, assault, sexual offenses (including sex offenders subject to a lifetime registration requirement) or other crimes against persons.
2. For felony offenses involving theft of property, damage to property, illegal manufacture or distribution of a controlled substance and weapons in the ten (10) year period from completion of sentence.
3. For misdemeanor offenses involving harm to person(s), theft of property, damage to property and weapons in the seven (7) year period from completion of sentence.
4. Applicants who are currently subject to a registration requirement under a Sex Offender Registration Program will be denied.

Applicants who are denied may submit, within fourteen (14) days of the denial,  verifiable evidence of mitigating factors for additional assessment including (by way of example, with no single factor being determinative): the facts or circumstances surrounding the criminal conduct; the age of the individual at the time of the conduct; evidence that the individual has maintained a good resident history before and/or after the conviction or conduct; evidence of rehabilitation efforts and/or any other factors related to whether a specific person poses any threat to safety. 

We strive to help ensure mutual accountability and responsibility for the benefit of all. As such, it’s imperative that ALL OUR APPLICANTS (with or without a household pet or animal) understand and acknowledge our Pet and Animal-related policies.  This will also include any applicant who does not own a pet or animal.  We require EVERYONE to complete a third-party screening and review process.  This quick and easy process ensures we have your Pet and Animal-related Policy Acknowledgments, pet/animal history and records, and legal attestation of truthfulness and accuracy on file.

• No Pets or Animals – This is a required application process for any applicant that does NOT own a pet or animal. There is no cost ($) to non-pet owners for completing the application process. This process will run you through our lease requirements in the event you would like to add an animal to your lease.
• Pets – This is a required application process for anyone that owns a household pet. This includes dogs and cats and might include pets that live in cages such as birds, hamsters, rabbits, snakes, or fish tanks (because of the contained water) so please ask for clarification regarding these types of pets.
• Assistance Animals – This is a required review process for anyone with a non-obvious disability and disability related need for an assistance animal. This process provides a HIPAA compliant and secure way of submitting a reasonable accommodation request for an assistance animal (Service animals, emotional support animals, companion animals, etc.) that will be reviewed by a third-party legal review team to ensure the accommodation request meets HUD’s Fair Housing Act guidelines.  There is no cost ($0) to you to submit an accommodation request. 
• The following household pets are prohibited due to their aggressive behavior/nature: Pit Bulls, American Pit Bull Terrier, Bull Terrier, Mastiff, Bull Mastiff, Akitas, American Staffordshire Terrier, Doberman Pinschers, Rottweiler’s and any other breed generally considered aggressive or deemed aggressive by state or local officials.

V. CREDIT SCORING:

Credit History will be verified by ResMan Qualifier which is powered by SafeRent/CoreLogic, a third-party verification service. Your CoreLogic Rental Property Solutions, LLC (CLRPS) rental score results from a mathematical analysis of information found in your consumer credit report, application, and current/previous rental history.  The consumer credit report may include payment history, number and type of accounts, collection activity, outstanding debt, and inquiries.  In addition, the rental scoring process may consider information such as income to rent ratio, previous eviction, and subprime credit records.  Your rental score does not include or otherwise reflect any criminal records. The rental score represents an estimated risk level as compared to other applicants.  Rental scores, much like credit scores, represent a range of numbers.  The higher the number the lower the risk level, and conversely, the lower the number the higher the risk.  Rental scores are based on real data and statistics.  Income plus verified credit history will be entered into a scoring model to determine rental eligibility and security deposit levels. The following deposit requirements will be applied based on scoring model recommendations (Deposit requirements may vary by property):

• Accept: Standard Deposit, or
  
• Accept w/Conditions 1: Full Month’s Rent Deposit, or
  
• Denied

Monthly gross income requirement is (2.5) two-and-a-half times the monthly rent amount. All forms of income verification must be listed in U.S. currency with applicant’s name. If income qualifications cannot be met, a qualified guarantor is acceptable.

Applicant(s) must have twelve (12) months consecutive employment history with a verifiable employer.  We will accept proof of approved unemployment benefits in lieu of our employment requirement of 6-months on the job provided income meets our Income Requirements. 

Income will be verified by one or more of the following depending on your credit:

• Employer or CPA, or
• Three (3) most recent paycheck stubs, or
• Three (3) most recent bank statements, or
• Previous year Tax Return and Current Business License if self-employed and most Three (3) most recent bank statements, or
• Benefit documents such as Social Security, Disability, etc., or
• Pension fund payments, or
• Court ordered alimony or child support payments (proof of receipt of payment required), or
• Student Loan Income, or
• Pay the Lease Term upfront, or
• Additional documentation may be required at discretion of management.

VII. Rental History:

Applicant must have twelve (12) months of positive, verifiable rental history. Mortgage history, if it appears on the credit report, will be accepted. More than three (3) late payments and/or two (2) NSF check within the past 12-months will not be acceptable rental history. NO VERIFIABLE RENTAL HISTORY will REQUIRE ONE (1) MONTH’S RENT DEPOSIT OR, AUTOMATIC DENIAL OF THE APPLICATION WILL OCCUR.

Guarantors may be used for applicants with insufficient credit or applicants with insufficient income only. A Guarantor must have income at least five (5) times the monthly market rent verifiable using the type of documentation listed in section VI above; score in the “Accept” category for credit history, minimum employment of one year, and must furnish all necessary information on leasing or mortgage history. If approved, the standard deposit will be accepted.

Our third-party screening company will deny applicants that have any of the following:

• False Social Security Number and/or Fact Act Fraud
• Financial documents required that are verified as not authentic.
• Failing to provide proof a valid Social Security Number or ITIN.
• Failing to provide proof a valid Current State or Government Issued Identification .
• Felony, misdemeanor and/or criminal conviction as outlined

Your application may also be denied if any applicants have any of the following:

• Falsification of the Application.
• If the bank returns the application/admin fees or holding fee.
• No Verifiable or Negative Rental History.
• Insufficient and/or unable to verify Income.

The Holding Fee will only be refunded on denied applicants unless falsification of the application occurred. The Holding Fee will not be returned for Cancellation’s, they will be retained for liquidated damages. **See next page for Non-Refundable Application and Administrative Fee Policy.

I/We have read and understand the Rental Requirements and Qualifications above. I/We agree to all terms and conditions stated above.

Application Fee (Non-Refundable)

A one-time non-refundable application fee of $50 is required per person, 18 years of age and older. This non-refundable application fee will help defray the cost of processing your application for rental. The application fee is non-refundable regardless of circumstances.

Holding Fee (May or May Not be Refundable)

In addition to the above non-refundable application fee, a $250 Holding Fee will be required in lieu of an application/security deposit which is required at the time of application in order for our team to process the application and take the apartment of your choice off the market.

The Security Deposit requirement is $250.

As a reminder, at the time of application, you are only required to place the Holding Fee of $250 to start the application process and take the apartment of your choice off the market. Once your application has been processed, below are the requirements based on approval:

• You will be able to pay a Security Deposit.

** $250 Holding Fee is applied to the Security Deposit.

*** $250 Holding Fee will be applied to your 1^st Month’s Rent.

The Holding Fee will take the apartment of your choice off the market, lock in the in-place quoted rent, and any move-in special; if applicable.  Your Holding Fee will be credited towards the required application/security deposit or 1^st month’s rent depending on the option you choose above when the TAA/NAA Lease Agreement has been signed by all parties.

Your Holding Fee WILL BE refunded if you or your co-applicant(s) are denied rental per our rental criteria.  However, a Holding Fee WILL NOT be refunded if any of the below apply to you or any co-applicant(s):

1. The Holding Fee will be retained by us as liquidated damages if you or any co-applicant(s) do not sign the lease contract three days after your approval. Or,
2. The Holding Fee will be retained by us as liquidated damages if you or any co-applicant(s) withdraw or notifies us in writing that you’ve changed your mind about renting the apartment we’ve taken off the market for you. Or,
3. The Holding Fee will be retained by us as liquidated damages if you or any co-applicant(s) fail to answer any questions on the Rental Application or if you give false information.

Administrative Fee (Non-Refundable)

In addition to all other sums required to be paid, prospective residents will pay a one-time non-refundable Administrative Fee in the amount of $50.00 to help defray the owner’s cost of preparing all documents.  The administrative fee is non-refundable regardless of circumstances.

By signing below, you acknowledge that you have read and understand our S2 Residential Application Deposit and Fee Policy.