Epic Asset
Management
Residential
Qualification Criteria
July
2012
Rental History:
12 months valid, verifiable rental history
Valid meaning a written lease or month to month
agreement.
If rental history is less than 12 months then a First and Increased
Deposit -OR- cosigner may be requested, recommendation will be
dependant on credit history, level of income and length of
employment.
Credit History:
At least 2 accounts established for 1 year required for
approval.
If derogatory credit history is in excess of $500
a
First and Increased Deposit
-OR- cosigner may be requested, recommendation will be dependant on
level of income and length of rental history.
(Medical collections will not be considered as derogatory credit
history)
Employment:
12 months on the job or previous employment in same kind of work
Income:
3 times the rental amount in verifiable
income
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 cosigner.
Final recommendation will be dependant on level of income, length
of rental history and credit history.
SECTION 8 APPLICANT CRITERIA:
All Section 8 applicants 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 THAT ARE NEW TO THE COUNTRY:
International
students will be required to pay a First and Increased
Deposit. Proof of current college or university enrollment or
current student visa will be required for valid
verification.
Applicant’s that are new to the country will be required to pay a
First and Increased Deposit. Proof of income source or new
job will be required.
COSIGNER RENTAL CRITERIA:
A cosigner will be APPROVED if all the qualification below are met,
if the cosigner does not meet any 1 of the following criteria then
the cosigner will not qualify.
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 verifiable, garnishable
income
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.
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”.
Unverifiable social security number.
Falsification of rental application.
Breaking lease agreement that will result in collection filing.
Verified name and date of birth match of criminal conviction and/or
pending criminal offense as follows:
Murder (1st and 2nd
degree)
Kidnapping (All counts)
Manslaughter (1st
degree)
Theft (1st & 2nd degree)
Assault 1st, 2nd & 3rd
degree)
Burglary (1st, 2nd degree & vehicle
prowling 1st degree)
Robbery (1st & 2nd
degree)
Malicious Mischief (1st degree)
Rape (All
counts)
Arson (1st, 2nd degree & Reckless Burning
1st degree
Rape of a child (All
counts)
Possession with intent to Deliver (All counts)
Child molestation (All counts)
Delivery or Sale (All counts)
Any Terror Related Activity
Any criminal conviction deemed harmful to person(s) or property by
Epic Asset Management.
Any criminal
conviction which results in a registered sex offender requirement
and/or any sex offender registry requirement.
A criminal records search will be performed for felony and
misdemeanor offenses. All felony and misdemeanor offenses
must be disclosed on the rental application.
Please contact the leasing office regarding availability before applying.
Important Notice: The screening fee is required to be paid by credit card in order to submit and process your application online.
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