CRITERIA & QUALIFICATIONS
TAM Residential Communities adheres to The Fair Housing Act. Title VII of the Civil Rights Act of 1968 (Fair Housing Act), as amended, prohibits discrimination in the sale, rental, and financing of dwellings, and in other housing-related transactions, based on race, color, national origin, religion, sex, familial status (including children under the age of 18 living with parents or legal custodians, pregnant women, and people securing custody of children under the age of 18), and handicap disability. The following qualification standards will be required from every prospective resident.
An application must be submitted by each applicant 18 years of age or older, who will be occupying the rental unit. All occupants 18 years old or older must qualify, with the exception of income for students living at home.
NUMBER OF OCCUPANTS: Maximum number of occupants:
-One bedroom – two (2) persons and an infant up to twenty-four (24) months (Including Efficiency and studio apartments)
-Two bedroom – four (4) persons and an infant up to twenty-four (24) months
-Three bedroom – six (6) persons and an infant up to twenty-four (24) months
CRIMINAL HISTORY: FELONY, even if serving deferred adjudication or case pending for the following will be DECLINED:
-Theft of Property 10 years from completion of sentence
-Damage to Property 10 years from completion of sentence
-Drug Violation 10 years from completion of sentence
-Injury to Persons No time limit
-Violence No time limit
-Sexual Offenses No time limit
This also includes any terrorism related convictions or charges.
MISDEMEANOR, even if serving deferred adjudication or case pending for the following will be DECLINED:
-Theft of Property 5 years from completion of sentence
-Damage to Property 5 years from completion of sentence
-Drug Violation 5 years from completion of sentence
-Injury to Persons No time limit
-Violence No time limit
-Sexual Offenses No time limit
This also includes any terrorism related convictions or charges.
ANIMALS: Renter’s Insurance with $300,000 minimum liability is required for all households with an animal(s). Pets must have proof of current vaccinations, proof of weight when fully grown, and breed documentation. A maximum of two (2) pets are allowed per apartment and each applicant must provide a photograph of each pet. All animals must be screened and approved through PetScreening.com before they will be allowed on-site. Aquarium pets or fish are allowed without the payment of a pet deposit; however, they are only permitted if they are exclusively aquarium pets, and the aquarium is no more than 20 gallons. All other exotic animals are prohibited, including, but not limited to rodents, rabbits, and ferrets. Service and emotional support animals will be allowed with proper documentation provided.
DOCUMENTATION The following items from the resident are needed prior to acceptance of a pet:
DEPOSIT AND FEES Team members will ensure the resident pays at least one-half of the deposit and pet fee amounts prior to releasing keys at move-in.
Pet deposits must be held until a resident vacates the apartment, even if the pet is removed from the apartment prior to the end of the lease term.
Team members will charge the resident a monthly pet rent.
Fees are as follows:
Non-Refundable Pet Fee: $300 per pet
Pet Rent $25 per pet
CREDIT SCORING: Credit History will be verified by a third-party verification service. A complete credit history from a credit bureau is required. Income plus verified credit history will be entered into a scoring model to determine rental eligibility and security deposit levels. The following deposit requirements and concession stipulations will be applied based on scoring model recommendations:
Accept: Standard Deposit
Review: Standard Deposit plus additional deposit ranging from $250.00 non-refundable fee up to two month’s rent additional deposit
Applicants without credit history must provide proof of employment (minimum of six (6) months). Applicants who are residents of foreign countries and do not have a Social Security Number must provide proof of foreign citizenship, written verification of employment, and proof of income (two (2) most recent paycheck stubs.)
INCOME: Monthly gross income requirement is (3) time the monthly rent amount. If income qualifications cannot be met, a qualified guarantor is acceptable. Income must be verified by one or more of the following:
-Employer
-Four (4) most recent paycheck stubs.
-Two (2) most recent bank statements
-Previous year tax return and current business license if self-employed
Guarantors may be used for students with insufficient credit or applicants with insufficient income. A guarantor must have income at least six (6) times the monthly market rent verifiable through tax returns, check stubs, etc.; score in the “Accept” category for credit history, minimum employment of one year, and must furnish all necessary information on leasing or mortgage history. If approved, the standard deposit will be accepted.
EMPLOYMENT: Applicant(s) must:
-Have six (6) months consecutive employment with the same U.S. based verifiable employer or in the same industry.
RENTAL HISTORY: Applicant(s) must:
-Have twelve (12) months of favorable rental history verifiable by a valid landlord.
Any one or more of the following characterizes is unfavorable rental history:
-Two (2) or more late payments in a twelve (12) month period
-Two (2) or more NSFs in a twelve (12) month period
-Failure to give a proper notice
-Failure to repay any apartment debt
-Unpaid Eviction
-Excessive lease violations
AUTOMATIC DENIAL: Management will deny applicants that have any of the following:
-Unpaid eviction(s)
-Housing debt(s) within two (2) years
-False Social Security Number
-Fact Act Fraud Alerts
CANCELLATIONS: Application deposits will only be refunded on denied applicants. Deposits will not be returned for cancellations; they will be retained for liquidated damages.
I/We have read and understand the Rental Requirements and qualifications above. I/We agree to all terms and conditions stated above.