EQUAL HOUSING OPPORTUNITY
This community does not discriminate based on race, color, sex, religion, handicap/disability, familial status, sexual orientation, national origin, ancestry, age, marital status, source of income, medical condition or any arbitrary basis. Th The following qualification standards will be required from every prospective resident. They are as follows:
RENTAL APPLICATION
A rental application must be completed and maintained for each applicant 18 years or older who will be living in the apartment and contributing to the payment of rent.
QUALIFYING STANDARDS
RENTAL HISTORY
Twenty-four (24) months of positive rental and/or mortgage payment history is required and will be verified on present and previous residence. A positive record of prompt monthly payment, sufficient notice, with no damages is expected. For applicants who are homeowners, permission must be granted to verify payment history with the bank or lending institution if there is a mortgage. Negative rental history is described as any damages owed, rental related debt as described above with a balance due over $200 within the past forty-eight (48) months, and/or evictions filed within the past eighty-four (84) months. Any rental collections must be verifiably paid.
CREDIT HISTORY
An unsatisfactory credit report may disqualify an applicant from renting an apartment home at this community. An unsatisfactory credit report is one that reflects past or current bad debts, late payments or unpaid bills, liens, judgments or bankruptcies within the past forty-eight (48) months. If an applicant is rejected for poor credit history, the applicant will be issued an adverse action letter containing; the name, address, and telephone number of the credit reporting agency that provided the credit report. Upon request, a copy of the report will be issued to the applicant. An applicant rejected for unsatisfactory credit is encouraged to correct any erroneous information that may be in the report, and resubmit an application to this community.
* Regular Approval 640+ credit score and no more than $1000 in collections or past due, Conditional (Additional
Deposit) 590+ and no more than $2000 owed. (Guarantor Only) 500+ and no more than $3000 owed & Denial under 500
and $3,500 owed. No Credit Requires Guarantor.
CRIMINAL HISTORY
Criteria Not met for the following: Any drug trafficking/ manufacturing, sexual or violent offenses within the last 5 years. No one listed on the Sex offender registry or OFAC/Terrorist database records.
INCOME REQUIREMENTS
Applicants must have a gross income source that can be verified and is at least two (2) times the monthly asking rent of the apartment being leased. Acceptable income verification required may include, but is not limited to, two (2) current pay stubs, an offer letter from the employer, the most recent IRS Form W-2, proof of government payments (such as social security, disability, etc.), retirement income, investment income, bank statements, tax returns, etc.
GUARANTORS
In the event a guarantor is required, he/she must complete a Rental Application. In addition to meeting all of the requirements with no negative items on their credit, the guarantor must also meet the income qualifications of at least five (5) times the monthly rent. Income verification is also required for a guarantor. A guarantor will be fully responsible for the Lease Contract if the occupying resident(s) default, in addition to all residents on the Lease Contract.
Only the manager may approve applications.
6720 W. 29th Street – Greeley, CO 80634 – 970.978.9899 – info@stmichaels.com
Updated 8/9/2024
