Epic
Asset Management
Residential Qualification
Criteria
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 Last
Month Rent -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 Last Month Rent -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 (only garnishable income
considered)
If income is less than 3 times the rental amount then a First and
Last Month Rent -OR- cosigner may be requested, Recommendation will
be dependant on level of income, length of rental history and
credit history.
INTERNATIONAL STUDENTS AND
APPLICANTS THAT ARE NEW TO THE COUNTRY:
International students will be required to pay a First and Last
Months Rent. Proof of current college or university enrollment or
current student visa will be required for valid
verification.
Applicants that are new to the country will be required to pay a
First and Last Months Rent. Proof of income source or new job will
be required.
COSIGNER RENTAL
CRITERIA:
A cosigner will be APPROVED if all the qualifications below are
met, if the cosigner does not meet any 1 of the following criteria
then the cosigner will not qualify. Bankruptcies will disqualify a
cosigner.
RENTAL HISTORY: 1 year of valid and verifiable rental or mortgage
history with no late payments
CREDIT HISTORY: At least 4 accounts 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 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 criminal conviction deemed harmful to person(s) or property by
Epic Asset Management.
A criminal records search will be performed for felony and
misdemeanor offenses. All felony and misdemeanor offenses must be
disclosed on the rental application.
