Affective as of May 2020
Welcome to Sanford Landing! Before you apply to rent an apartment home in our community, please take the time to review this screening policy.
All persons 18 years of age or older, no dependents, will be required to complete separate rental applications. Applicants with adult dependents and applying for residency will complete a joint application. The term “applicant(s)” under this policy means the person or persons that will be signing the Lease as “residents”; the term “occupant(s)” in this policy means the person or persons that are authorized occupants under the Lease.
Please also note that these are our current rental criteria; nothing contained in these requirements shall constitute a guarantee or representation by us that all residents and occupants currently residing in the community have met these requirements. There may be residents and occupants that have resided in the community prior to these requirements going into effect; additionally, our ability to verify whether these requirements have been met is limited to the information we receive from the various resident credit reporting services used. It is the policy of this community to comply with all applicable fair housing laws including those which prohibit discrimination against any person based on race, sex, religion, color, familial status, national origin, or handicap.
1. Occupancy Guidelines – The following occupancy standards apply based on 2 persons per bedroom, plus one per apartment.
One Bedroom Three Persons*
Two-Bedroom Five Persons*
* Residents who exceed these occupancy standards during the lease term will be required, upon the end of the current lease term, to either:
a. Transfer into another available apartment which has more bedrooms; or Move out
b. Rent for the new apartment will be at the rental rate at the time the lease is entered into for the new apartment.
2. Age – Applicants must be 18 years of age or older unless deemed to be an adult under applicable law with respect to the execution of contracts.
3. Credit – A credit report will be completed on all applicants to verify credit ratings. Income plus verified credit history will be entered into a credit scoring model to determine rental eligibility and security deposit levels. Unfavorable accounts which will negatively influence this score include, but are not limited to: collections, charge-off, repossession, and current or recent delinquency.
ADDITIONAL APPLICATION DEPOSITS WILL BE REQUIRED FOR ALL CREDIT RECOMMENDATIONS BELOW AN ACCEPT LEVEL, NOT INCLUDING A DENY RECOMMENDATION.
Refer Credit Recommendation occurs on applicants with little or no credit history. In such cases, additional checks for rental and income/employment will be completed. If the criteria are met in these checks, an additional deposit will be required. On rental history, an applicant must have 6 months of positive rental history within the past 24 months. (Please refer to Clause 8 of this document for detailed information on rental history requirements.) When no rental history exists, an additional deposit is required. A criminal background check must be approved before further approval consideration is given.
4. Income – Gross income for all applicants in one apartment home will be combined and entered into the credit scoring model for income eligibility. All applicants will be asked to produce consecutive and most recent pay stubs for the last 4 weeks from the Application Date. Applicants must have a minimum combined gross income of 3 times the monthly rent. Additional sources of verifiable income may be considered. These sources may include child support, grants, pensions, GI benefits, disability, trust funds, social security, and savings accounts. Some credit scoring results will necessitate further income verification. In such instances, verification with an employer will be completed or the applicant may be asked to produce additional financial statements/records.
5. Employment – If employment is to begin work shortly, the applicant must provide a “letter of intent” to hire from the employer.
6. Self Employment, Retired or Unemployed – Such applicants must provide the previous year’s income tax return and the previous two month’s bank statements, or twelve months of financial statements and must exhibit no negative references.
7. Criminal History – A criminal background check will be run on all Applicants. An applicant may be automatically denied in the event the applicant(s) have ever been convicted of a felony or misdemeanor for a crime against a person, another person’s property, or against society. The applicant(s) may also be declined if they have received adjudication or who has been charged with a felony or misdemeanor offense(s) within the past seven (7) years for a crime against a person, another person’s property, or against society. An automatic denial will also occur should an applicant appear on the list of known terrorists and wanted fugitives as provided by the Office of Foreign Asset Control (OFAC), federal agencies including the FBI, or other state and local law enforcement agencies.
The applicant agrees that the lease shall be terminated in the event the applicant, after moving onto the property, is convicted of a felony or misdemeanor for a crime against a person, another person’s property or against society, and/or appears on the list of known terrorists and wanted fugitives.
Note: This requirement does not constitute a guarantee or representation that residents or occupants residing at this apartment community have not been convicted of a felony or are not subject to deferred adjudication for a felony
8. Rental History – Some credit scoring results will necessitate an evaluation of verifiable rental or mortgage payment history for the last 24 months. In these instances, an applicant must have a minimum of 6 months cumulative verifiable rental or mortgage payment history within the last 24 months. In such instances, if a previous landlord cannot be contacted, 6 consecutive months of proof of payment must be verified and a copy of the lease contract must be provided. Applicants not having verifiable rental or mortgage history will have to pay an additional deposit equal to one month’s rent. When applications also depend on the results of a rental history investigation for an approval/denial determination, applications for residency will automatically be denied for the following reasons:
a. An outstanding debt to a previous landlord or an outstanding NSF check must be paid in full
b. A breach of a prior lease or a prior eviction of any applicant or occupant
c. More than 4 late pays and/or 2 NSFs within the last 12 months
9. Guarantors – Guarantors may be accepted for applicants who do not meet the required rent-to-income ratio or are denied based on credit. Only one guarantor per apartment is permissible. For guarantor-supported applications, an additional application deposit will be required. The deposit level will be based on the credit analysis. The guarantor will be required to complete an application and pay a full application fee. Guarantors must have a gross monthly income of 4 times the monthly rent and meet all other qualifying criteria identified in this screening policy. The guarantor will be asked to sign a Guaranty of Resident Obligations to support the application.
10. Animals – Sanford Landing Apartments accepts domestic animals where an application is made, no more than three domestic pets each. Aggressive breeds will not be allowed. See the list below for animals not allowed. A $350 - $550 non-refundable animal fee and prior approval from management will be required. In addition, there is a $20-$50/monthly pet rent. Aquariums will be allowed with a 20-gallon maximum on the first floor only with proof of insurance for the entire term of the lease.
RESTRICTED ANIMAL LIST (included but not limited to)
Breeds of Dogs: Pit Bull, Rottweiler, German Shepherd, Husky, Malamute, Doberman, Chow Chow, St. Bernard, Great Dane, Akita, Terriers (Staffordshire) & American Bull Dog. Any hybrid or mixed breed of one of the aforementioned breeds.
Poisonous Animals: Tarantulas & Piranhas
Exotic Animals: Reptiles (Snakes, Iguanas), Ferrets, Skunks, Raccoons, Squirrels, Rabbits & Birds (Parrots, Cockatiels, Macaws).
11. Parking – Sanford Landing does observe strict parking policies. Maximum Vehicle Allowance: The maximum number of vehicles a resident may park on property is based upon the number of bedrooms in the apartment home the resident resides in. Specific limits are as follow:
One Bedroom: Maximum 2 Vehicles
Two Bedroom: Maximum 3 Vehicles
Each vehicle must be registered with the Management office by providing proof of insurance and registration. Each vehicle must have a community decal and park in open parking
12. Liability Coverage Requirement – Priderock Capital Management requires that all residents will be required to sign the Property Loss and Damage Waiver Addendum as well as pay the accompanying $13 lease charge. Not only will this cover the $100,000 liability portion but will also cover up to $2,500 in personal property.
13. Water Furniture – Water furniture will only be allowed in first-floor apartments.
14. Deposit Levels – The results of the credit score will determine the amount of Application Deposit.
15. Falsification of Application – Any falsification in Applicant’s paperwork will result in the automatic denial of Application. In the event that an Applicant falsifies his/her paperwork, the owner has the right to hold all deposits and fees paid to apply towards liquidated damages.
All applications will not be considered until the Application has been fully executed and returned, and all applicable Application Deposits and fees have been paid. I have read and understand the entire resident screening policy of this community.