Rental Criteria

We know how difficult it can be to find a place these days, and application fees are a hassle. That’s why we’re sharing our rental criteria below, so you can know in advance whether your application is likely to be approved!

Our application is online, and it’s super easy and convenient for you.

Click here for our Pet Policy.

Income Requirement

The combined income of all adult applicants must be at least 3x the monthly rent. For example, if the rent is $1800/mo then the combined income requirement is $1800 x 3 = $3600/mo.

Income must be current, and documented. If you’re not an employee with a paystub, we may consider alternate forms of documentation, but it has to be documented and verified to count. 

All legitimate forms of income are considered (wages/salary, social security, disability, pension, child support, alimony, rental income, annuity, etc).

Debt to Income Ratio

It’s not how much you make, it’s how much you keep. Generally we look for the rent payment plus all monthly debt payments to be less than 45% the total monthly income, though we will sometimes allow for up to 50% if you have very good credit.

Example 1: your combined monthly income is $6000/mo. If your total debt payments plus rent are $2700/mo ($1800 rent, $500 auto payment, $200 credit card, $200 student loan payment), then your total debt-to-income ratio would be 45%.

Example 2: your combined monthly income of $7000/mo. But if your total debt payments are $4200/mo ($1800 rent, 2 cars with a $750/mo payment each, $700 credit card bill and $200 student loan payment), your total debt-to-income ratio of 60% your application would be rejected.

Credit Requirement

Good news: our application process is a “soft pull” requested by you and does not impact your credit score! Our application provider RentSpree uses TransUnion’s ResidentScore. It is not the same as a FICO score or other credit scores like the one Zillow uses. Though the ResidentScore is a helpful number for us, we don’t base our decision on the number alone. For example, we view unavoidable medical debt from years ago differently than recent chargeoffs on your cable or cell phone bills.

If you have a good credit history (no recent bankruptcy, active collections, judgments, chargeoffs, unpaid child support, no recent missed payments) you should be fine. If you have a really good reason for negative information on your report that was outside your ability to control, you’re welcome to call, text or email to ask us about it in advance to determine whether an exception can be made (just know, exceptions are very rare, if we made them all the time they wouldn’t be exceptions.)

If you’re not sure what your credit history is, you can check it yourself for free at AnnualCreditReport.com or CreditKarma.com. Neither of these options impact your credit score.

 

Background Check

Our background check looks at two things: criminal background, and eviction history across all 50 states. Not all criminal convictions will disqualify you, but lying about it will. If you’d like, you may contact us first for a respectful and confidential conversation before you apply. 

Evictions: your application is not likely to be approved if you’ve had a recent eviction. 

Identity Verification

Your social security number and a copy of your Driver’s License (or other acceptable form of identification) are required in order to establish your correct identity and obtain your credit report.

Other acceptable forms of identification include a US passport, passport card, military ID, or permanent resident card. 

References

Call us old fashioned, but we actually check references. The rental reference from your current and/or past landlord or manager is especially important.

Move-In Funds

Two months’ bank statements are required to help verify your income, verify payment of rent or mortgage, and to verify that you have sufficient funds to move in (first month’s rent, security deposit, and regular monthly expenses).