Windermere Property Management NW Residential Qualification Criteria February 1, 2013

Please contact the leasing agent or property manager regarding availability before applying.

Rental History:

Current and previous landlords or mortgage lenders will be contacted for reference. Twelve months of verifiable rental history is required.

Credit History:

A credit report will be run. All active accounts should be reported as current. FICO scores

• 640+ - Pass
• 581- 639 – Conditional
• 580 & below – Fail

Employment:

Twelve months on the job or previous employment in same kind of work. Employment must be verified by telephone to employer(s).

Employment – Self Employed:

Self-employment must be verified through tax returns or additional documentation that may be requested.

Income:

Applicant must meet three times the rental amount in verifiable income. Copies of 2 current pay stubs that equal minimum of 1 month are required to verify income. Self-Employment and/or extra income must be verified through tax returns and/or additional documentation that may be requested. Bank account records (checking, savings, etc) are not acceptable.

• Income that is 2.5 – 2.99 times the rental amount may require a First & Increased Deposit.
• Income that is less than 2.5 times the rental amount may require a qualified co-signer.

Final recommendation will be dependant on level of income, length of rental history and credit history.

Photo ID is required:

You will be required to provide a copy of your driver’s license or other picture ID.

Occupancy:

Occupancy is limited to no more than two persons per bedroom (studio units are considered to be one bedroom)

Section 8 Applicant Criteria:

If landlord will accept Section 8 applicants, they are required to meet the same criteria as stated above, with the exception that the applicant only needs to meet income requirements for their portion of the rent. Recommendations will be made following the above set standards, and will include the following notice: This recommendation is based on the standard for this Community. The applicant should verify with their own specific Section 8 requirements to determine eligibility for residency at this community.

International Students and Applicant’s who Are New to the Country:

International students will be required to pay a First month’s rent and Increased Deposit. Proof of current college or university enrollment or current student visa will be required for valid verification.

Applicants that are new to the country will be required to pay a First month’s rent and Increased Deposit. Proof of income source or new job will be required.

Co-signer Rental Criteria:

A co-signer may be approved if all the qualifications below are met, if the co-signer does not meet one of any of the following criteria then the co-signer will not qualify. Not all property owners will accept a co-signer so prior consent of the agent must be obtained before applying.

• RENTAL HISTORY: 1 year of valid and verifiable rental or mortgage history with no late payments
• CREDIT HISTORY: At least 4 accounts established for 1 year, in good standing with less than $100 in derogatory accounts
• EMPLOYMENT: 12 months on the job or previous employment in the same kind of work
• INCOME: 4 times the rental amount of the unit in verifiableincome

Grounds For Denial Will Result From The Following On All Applicants:

• Verified eviction showing on credit report or confirmed with landlord.
• Rental collection verified on credit report.
• Balance owing to landlord.
• Breaking lease agreement that will result in collection filing.
• Extreme negative and adverse rental history, e.g. documented complaints and/or damages, multiple late payments or 72 hour notices to pay or vacate with statement by landlord of “WOULD NOT RE-RENT”.
• Open bankruptcy
• Unverifiable social security number.
• Falsification of rental application.

Criminal Convictions

A criminal Conviction of crimes of violence, crimes against persons, property crimes, crimes involving the possession, use, sale and or distribution of illegal drugs and/or crimes involving breach of trust may lead to denial.

A criminal records search will be performed for felony and misdemeanor offenses. All felony and misdemeanor offenses must be disclosed on the rental application.

There is a non-refundable screening fee = $40 PER PERSON over the age of 18

Important Notice: The screening fee is required to be paid by credit card in order to submit and process your application online. If additional fees are required for out of state criminal record search you will be contacted.

By signing below, you certify the following:

1. That you have read and understand the above disclosure
2. That you understand that you must provide phone numbers for your current and previous landlord/mortgage company as well as your employer
3. That the screening process usually takes 2 to 4 days, as stated above, and that you must meet the qualifications listed to qualify
4. That you understand that the $40.00 screening fee, per person 18 years of age and older, must be paid at the time of application and is non-refundable