Application Criteria for Leasing at Auston Woods Apartment Homes

A. Salary/Employment

1. Your local employment must be verified, including salary amount.
2. To qualify, prospective resident’s combined monthly income must be equal to or exceed three and one half (3 1/2) times the monthly rental amount. If there are 3 or more lessee’s then their combined income must be equal to or exceed four (4) times the monthly rental amount.
3. Market Rent is to be used as qualifying rental amount on those properties that have rent specials.
4. Self-employed prospective residents must provide previous years tax return for salary verification.
5. Bank accounts, stocks, bonds and other forms of assets may also be used to verify the financial status of a prospective resident. It will be necessary to furnish management with proof of funds equal to one (1) year worth of rent and they must document that the funds have been in the account for the last four (4) months.

B. Credit

Management will request a credit history through Resident Check, taking into consideration timely payments, the prospective residents debt-to-income ratio and the anticipated rental amount. Marginal or bad credit may result in an increased security deposit or denial of the application. We do require verification of identity, credit, and criminal background check on all applicants and occupants over the age of 18.

C. Residential/Rental History

The prospective resident must have at least two (2) years of acceptable rental history in the last four (4) years that can be verified or be a recent college or technical student. A satisfactory rating on the credit report for a mortgage will serve in lieu of rental history. HHHunt will accept applicants with no more than 3 late payments per year and a good recommendation from landlord. Management reserves the right to deny residency for occupancy if there have been previous pest infestations.

Prospective residents with a past debt owed to any rental/landlord must provide sufficient documentation that monies owed have been paid in full. The application process may continue with management discretion.

A satisfactory rating on the credit report or mortgage will serve in lieu of rental history. In the event the prospective resident has a foreclosure on their primary residence AND the mortgage payment (as listed on the credit report) is more than 35% higher than the rental rate for the apartment And the prospective resident is accepted or accepted with conditions by our credit reporting agency and otherwise meets all other criteria for rental, HHHunt may accept the application.

D. Occupancy Standards

The Federal occupancy standard is set at two (2) persons per bedroom in each apartment. Exceptions to this standard may be made for occupants under the age of 18 with Management discretion. Auston Woods will allow one (1) additional person, under the age of eighteen (3) to reside in the apartment with prior Management approval.

E. Criminal Search

Any applicants who have been determined to have criminal conviction or current indictment for possession, sale, manufacture or distribution of controlled substances or for any crimes involving firearms or crimes against persons or property will be denied residency and occupancy. Management reserves the right to deny residency and occupancy for any criminal activity at their discretion. Guarantors/co-signers cannot be a substitute for this requirement.

F. Guarantor/Co-signer

Auston Woods will accept a guarantor for prospective residents who do not meet the above listed salary requirements. The guarantor must qualify for the apartment based on the above listed criteria. The guarantor must qualify using only his or her sources of income and must make 6 times the monthly rent. Management only allows (1) guarantor per apartment home.

G. Documentation

Applicants must supply a copy of their social security card as well as a government issued picture I.D. for each applicant. For non-US citizens we will require a copy of a VISA form INS in lieu of a credit report for qualification purposes.

H. Additional Deposit

In the event an application is initially declined due to a failure to meet the minimum credit criteria described above, Auston Woods will approve the application so long you provide us with (1) a non-refundable sure deposit bond in the amount of $350 AND additional pet fees if applicable AND (2) a security deposit equal to two (2) months rent (i.e. twice the rental rate normally required under whatever lease that we agree to sign with you). This additional deposit option is not available in the event the application is declined due to criminal activity or for any reason other than failing to meet our minimum credit criteria. This additional deposit option is also not available in the event that the guarantor application is declined for any of the above criteria.

To reserve your new home at Auston Woods’s prospective resident(s) must provide all
required processing fees.

***All monies will be forfeited upon receipt unless otherwise notated.