RESIDENTIAL LEASING GUIDE
STEP 1: APPLICANT IDENTIFICATION & QUALIFICATION
If you are applying as a prospective Tenant or Guarantor you will be required to submit the following:
– Completed Rental Application
– Copy of Government Issued Identification (Driver’s License, ID Card)
– If you are a full-time student, Letter of Academic Enrollment or Statement of Purpose
– If employed/retired/other proof of income
STEP 2: VERIFICATION OF FINANCIAL RELIABILITY
Each prospective Tenant must demonstrate their financial qualification per the Landlord’s standards. If one does not meet these qualifications, a Guarantor must be used to support the respective applicant’s tenancy.
Do I Require a Guarantor?
– Do you earn at least 40 times your portion of the rent—or—do you have liquid assets exceeding 80 times your portion of the monthly rent? (Yes/No)
– Do you have a Social Security number and a US credit history? (Yes/No)
If you answer “No” to any of these questions, you will most likely require a Guarantor and should begin preparing your Guarantor’s application.
STEP 3: DOCUMENTS REQUIRED TO VERIFY FINANCIAL RELIABILITY
– Online Income Verification (you will be able to generate an authentic, read-only deposit report by enabling your direct deposit account via the Online Rental Application.
To learn more about our online income verification, visit The Closing Docs
In addition, the Landlord may request one or more of the following documents:
Letter of Employment (This document must be typed on original company letterhead, stating your position, salary, and length of employment)
– Previous three months bank statement summary pages (Printable online is acceptable)
– Proof of salary payment from last two payment periods (direct deposit line items on bank statement or pay stubs)
– Any additional documentation that can verify financial reliability (Ex: Statements indicating additional income such as stock portfolio, trust funds, verification of property ownership, other assets, etc.)