How to Rent

 

 

Rental Policies

Welcome to our community.  Before you apply to rent an apartment home, please take time to review this Statement of Rental Policy.  For the purpose of this document, the term “applicant” is defined as the person(s) who will be signing the lease as the “resident”.  The term “occupant” is defined as person(s) who are authorized occupants under the Lease.  Some criteria may apply to the applicants only; other criteria may apply to all occupants.

Age requirements
An applicant must be 18 years of age or older to qualify as resident.

Equal housing
This Community is an Equal Housing Opportunity provider.  This Community does business in accordance with the Federal Fair Housing Act and does not discriminate against any person because of race, color, religion, sex, handicap, familial status or national origin.

Apartment availability
Applications for apartment homes will be accepted on first come – first serve basis and are subject to availability of the particular apartment type requested.

Credit
All applicants must agree to the following by executing a rental application form and consent.

Evaluating your credit
This community uses an expert credit scoring system to evaluate your consumer credit report.  Credit scoring is based on real time data, expert analysis and statistics, so it treats all applicants objectively.  Credit scoring will evaluate and analyze your consumer credit report to determine your credit performance.  Credit scoring will determine your willingness and ability to maintain and fulfill your lease obligation.  If your application is accepted you will be required to pay the standard or advertised deposit amount.  If your application is accepted with conditions, you may be required to pay an additional deposit above the standard or advertised deposit, you also will receive an adverse action letter that will clearly state the issues with your credit performance.  You will also be given information on who to contact should you want to obtain more information about your consumer credit report.

An unsatisfactory credit history can disqualify an applicant from renting an apartment home at this community.  An unsatisfactory credit history is one that reflects past or current bad debts, late payments or unpaid bills, liens, judgments or bankruptcies.  If an applicant is rejected for poor credit history, the applicant will be given the name, address and telephone number of the credit reporting agency that provided the credit information, as required by the FCRA.  No credit information will be released from management.  An applicant rejected for unsatisfactory credit is encouraged to obtain a copy of their credit report from the credit reporting agency, correct any erroneous information that may be on the report, and resubmit an application to this community.

This office does not receive a copy of your actual consumer credit report.  This office is unable to provide you with a copy of your consumer credit report.

Income requirement
Income must meet 3.0 times the rent

Guarantor
Must meet income credit and criminal background requirements fully.  Income must be 3.0 times the rent.

Rental history
Rental history will be verified on all applicants.

Employment verification
The applicant must provide documentation for income.

Criminal
An answer of “yes” to any of the listed questions will automatically disqualify the applicant.

A criminal background check will be conducted for each applicant.  The criminal search will be run for all addresses at which the applicant(s) has resided over the previous 24 months.  The application will be rejected for any of the following reported criminal related reasons that have occurred within the last ten (10) years prior to the application date:

  • Felony Conviction

  • Any terrorist related conviction

  • Any illegal drug related conviction

  • Any prostitution related conviction

  • Any sex related conviction

  • Any cruelty to animals related convictions

  • Misdemeanor conviction involving crime against persons or property

  • Any of the above related charges resulting in “Adjudication Withheld” and/or “Deferred Adjudication”

  • Active status on probation or parole resulting from any of the above

Occupancy
A family may occupy a unit if the family does not exceed two persons per bedroom and one child less than twenty four months of age.  There shall be no more than two occupants per designated bedroom or rooms designated as sleeping quarters, or as mandated by local building code officials.  All occupants must be registered and listed on lease agreements.

International applicants
To qualify under the terms of this Statement of Rental Policy, applicants from countries other than the United States who do not have a social security number are to be processed manually and may be required to meet the following criteria.

A valid passport showing notary seals.  Expired passports shall result in an automatic decline.

  • Form 1-551 Permanent Resident Card

  • Form I-688 Temporary Resident Card

  • Form I-688A Employment Authorization Card

  • Form I-94 Arrival/Departure Record

All of the above forms must include photos and fingerprints.

Vehicle application
All vehicles must be licensed.

Pet policy
No Dogs allowed.

Back to previous page

 

Copyright 2000 Colony Bay Apartments