Income Requirements
- Gross Income:
- Applicants must demonstrate a combined gross monthly household income equal to or exceeding 3x the monthly rent.
- Subsidized Housing Income Adjustment:
- For tenants receiving subsidies, the 3x income multiplier applies only to their portion of the rent.
- Proof of Income:
- Acceptable documentation includes:
- Recent pay stubs (last 3 months).
- Government benefit award letters.
- Job offer letters.
- W-2 forms or most recent tax documents.
Credit Requirements
- Minimum Credit Score:
- At least one applicant must have a minimum credit score of 670.
- Additional adult occupants (18+) must either meet the credit score requirement or have a co-signer.
- Alternative Credit Criteria:
- For subsidized housing tenants only:
- On-time housing payments for the past 12 months.
- No evictions within the past 10 years.
- No bankruptcies within the past 3 years.
- No items in collections (except medical debt).
- No more than 2 missed payments exceeding 30 days in the past 12 months for non-core obligations (e.g., retail or personal loans). Missed payments on utilities or rent will result in disqualification.
Background Check and Criminal History Review
- Criminal History Review:
- Criminal history is evaluated on a case-by-case basis.
- Factors considered include:
- Nature and severity of the offense.
- Time elapsed since the offense.
- Rehabilitation efforts or evidence of positive behavior.
- Impact on ability to fulfill lease obligations or risk to others.
- Applicant Engagement:
- Applicants with criminal history will be notified and given an opportunity to provide additional information or context.
