Cap City Apartments Rental Criteria Guidelines

Welcome!  We are excited to have you as a part of our community.

 

Please review our application process and qualifying criteria to determine if you are eligible.

 

APPLICATION FORM: A true and complete application is required of all prospective residents, occupants 18 years of age or older, and guarantors. Falsification or omission of information will disqualify applicants. An application may be submitted digitally through our website, AppFolio, or by hard copy.

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A current and valid government issued photo identification. Acceptable forms of government identification, include but are not limited to:

• Driver’s license

• State ID

• Military ID

• Passport

• Visa

 

APPLICATION FEE: A non-refundable application fee of $50.00 per applicant is required at the time of application. Application fees may be paid through the AppFolio portal or in a money order at the leasing office. No personal checks or cash will be accepted.

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ADMINISTRATIVE FEE: Upon approval of application a $150 non-refundable administrative fee is due. 

 

HOLDING DEPOSIT: Upon approval, the applicant must place a holding deposit of one month's rent on the premises. Applicant understands that the holding deposit will be retained by the management if this application is approved, and Applicant is unable to fulfill the conditions of occupancy. Applicant acknowledges that the Landlord will suffer damages as a result of the processing of this application and holding the specified unit off the market. Upon execution of the lease agreement the holding deposit will be applied towards the security deposit. The holding deposit will be returned if this application is not approved, providing Applicant did not lie or falsify any part of the rental application.

 

FORMS OF PAYMENT: All required payments prior to moving into your apartment (fees and deposits) may be paid through the AppFolio portal or in a money order at the leasing office.

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No personal checks or cash will be accepted.

 

OCCUPANCY STANDARD: Landlord uses 2 per bedroom as a guideline. However, Landlord will look to local code where the property is located to determine occupancy standards based on square footage of each bedroom. Landlord will not consider occupants 12 months or younger toward occupancy standards.

 

AGE REQUIREMENT: All occupants over the age of 18 must be leaseholders and apply for credit and criminal approval. No application is required for occupants under the age of 18.

 

INCOME REQUIREMENT: Total monthly gross income of all leaseholders must be three (3) times the rental amount.

 

EMPLOYMENT: Applicants must present evidence of a stable work history in their most recent position. Situations taken into consideration are as followed:

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• If applicant is not employed, they must present evidence of regular income, such as proof of income from social security, disability, retirement benefits, GI benefits and/or statements verifying funds are available for the payment of rent monthly through the lease term.

• If self-employed, the applicant must present the previous year’s tax return and bank statements from the last two months.

• Applicants who hold commission only or base plus commission or tips are considered self-employed and must follow the self-employed guidelines.

• Applicants starting a new job must present a letter of intent to hire from the employer to verify applicant’s employment, pay, position, and length of employment.

 

GUARANTOR (CO-SIGNER): Guarantors may be required if an applicant: (1) cannot provide proof of income of three times the monthly rental amount & inclusive of all charges, or (2) has unsatisfactory credit history, or (3) is a full-time student, or (4) is a first-time renter. Guarantors must provide proof of total monthly gross income five (5) times the rental amount, inclusive of all monthly charges, and must satisfy credit criteria to be considered for approval.

 

CREDIT: A credit report from a major credit reporting agency will be obtained to verify your credit history. An unsatisfactory credit report can disqualify the applicant.

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Credit evaluation includes scoring based on delinquent payments, collections, charge offs, judgements, and open bankruptcy.

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A bankruptcy history is acceptable if dismissal date is over 12 months from date of application with positive credit history established since dismissal.

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It is an automatic disqualification for legal items (such as evictions and unpaid judgements) or collections/debt to landlords. Debts to landlords must be settled prior to acceptance.

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It is an automatic disqualification for utility debt. Utility debt must be settled prior to acceptance.

 

PREVIOUS RESIDENCES: Addresses indicated on the credit report must match exactly the residences listed on the rental application. Current and previous landlords will be contacted for rental verification:

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No eviction judgements are permitted within the last 5 years.

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First time renters will be accepted if income, credit, and criminal requirements are met. A Guarantor may be required.

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Homeownership, with no derogatory references, will satisfy the requirements.

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Foreclosures over 3 years old will be conditional approval if a good rental history has been established.

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It is an automatic disqualification for outstanding debt to a mortgage holder.

 

CRIMINAL: Criminal history is one factor that management will consider when making a decision on whether or not to lease an apartment to an otherwise qualified individual. Criminal history will only be considered as a relevant factor after all other screening criteria have been approved. Management will reject any applicant whose tenancy would reasonably be expected to have a detrimental effect on other tenants, the environment of the apartment community. Or where an applicant’s history would evidence an inability to comply with lease terms or a likelihood of interfering with management staff. Management will ensure that tenant selection is objective and reasonable, and ownership will look at past conduct to predict future conduct.  

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No applicant (leaseholder or occupant) may be subject to a lifetime registration requirement under the Lifetime Sex Offender Registry program.

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Management has created a 36 to 48 month look back period for all criminal convictions which were misdemeanors, and an 84 to 120 month look back period for felony convictions. The lookback period may vary between specific communities managed by our company.

For further information regarding our criminal screening policy, please contact the leasing office.

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