Lease Terms

RENTAL QUALIFYING CRITERIA

1. WE ARE AN EQUAL OPPORTUNITY HOUSING PROVIDER. We fully comply with the Federal Fair Housing Act. We do not discriminate against any person because of race, color, religion, sex, handicap, familial status, or national origin. We also comply with all state and local fair housing regulations.

2. APARTMENT AVAILABILITY POLICY. We update our list of available apartments, as each apartment becomes available. An apartment that was unavailable in the morning may become available later that same day. Pricing can change without notice and can only be reserved with a holding deposit.

3. OCCUPANCY GUIDELINES. To prevent overcrowding and undue stress on plumbing and other building systems, we restrict the number of people who may reside in an apartment. In determining these restrictions, we adhere to applicable fair housing guidelines. We allow two persons per bedroom plus one additional person per apartment. For example, a one-bedroom apartment could house three people, and a two-bedroom apartment could house as many as five people.

4. APPLICATION PROCESS. We evaluate every apartment application in the following manner. You must submit a rental application and answer all questions on the form. You must pay the $59.00 per person nonrefundable application fee. If you do qualify, we will send your application to our screening company, which will check your credit report, employment and rental references to confirm that they meet our rental criteria. If you meet our criteria, we will approve your application.

5. RENTAL CRITERIA. To qualify for an apartment, you must meet the following criteria:

1. 1. INCOME. Your gross monthly income must be at least 2.5 times the monthly rent.
      1. Proof of verifiable income for the last two (2) most current pay stubs
      2. Proof of income includes, but is not limited to, the following:
         • Current pay stubs
         • Employment offer letter dated no later than 30 days of the application date
         • Last 3 month’s bank statements showing deposits made
         • Prior year tax returns
         • Proof of receipt of government income (e.g., social security, disability, welfare, unemployment, VA Benefits, etc.)
         • Proof of receipt of retirement and/or investment income
         • Student loan housing allowance
         • Court ordered income

0. 2. RENTAL HISTORY. You must have satisfactory rental references for the last two (2) years.
1. The following will be considered for all individual applicants and will result in denial of the application:
   • • • Unpaid judgment to prior landlord
       • Unpaid landlord collections
2. Additionally, the below may result in denial of the application depending on the facts and information regarding the following:
   • • • Negative landlord reference from the previous landlord indicating damage done to the prior residence
       • Late payments or returned checks
       • Balance owed to the previous landlord
       • Lease violations
   • CREDIT HISTORY. Your credit record must be satisfactory.

1. The following will be considered for all applicants, both individuals and guarantors, and may result in denial of the application:
   • Past due negative accounts
   • Accounts in collections
   • Foreclosures
   • Open Bankruptcies

1. 4. GUARANTORS. You may be able to qualify for an apartment if you obtain a third party to guarantee your lease. The guarantor must qualify under SMC’s guarantor guidelines:
      1. All Guarantors need to be residents in the U.S. If Applicant does not satisfy the income criteria, but meets all the other criteria, a guarantor may be accepted. All guarantors must qualify under the above criteria with monthly income equal to five (5) times the rent amount. Approval will be based on credit scoring and income requirements as noted above.

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To apply, please submit the following:

$59.00 fee for each applicant 18 years or older (fee is non-refundable)

$150 holding deposit (non-refundable after the end of the business day following 72 hours)

A valid driver’s license or government-issued ID is required to confirm the identity of all applicants.

Renters Insurance: Proof of $100,000 liability coverage required upon move in.

Security Deposits (on approved credit):

Studio $750.00

1 Bedroom $750.00

2 Bedroom $750.00

3 Bedroom $750.00