Qualifying Standards

Welcome to our community. Thank you for choosing us as your place to live. In order to reside in our community, we require that each applicant must be 18 years of age and meet certain rental criteria. Before you fill out our Rental Application, we suggest that you review these requirements to determine whether you meet them. Please note that the term “Applicant” provided below applies to all Residents to be identified on the Lease Agreement and the person or persons to be responsible for paying rent. Please note that these are our current rental criteria; nothing contained in these requirements shall constitute a guarantee or representation by the Apartments prior to these requirements going into effect; additionally, our ability to verify whether these requirements have been met is limited to the information we receive from the various credit reporting services used.

All prospective residents may be required to provide proof of the following standards to include, but not limited to:

Occupancy Guidelines:

We follow Fair Housing guidelines

Income:

Total monthly combined income must be at least two and a half (2.5) times the amount of the apartment monthly rental rate. If income requirements are not met, management may require the applicant to have a cosigner.

Employment:

Prospective residents must have verifiable employment of at least six months, or verifiable source of income. If applicant is self-employed or receives money from non-employment sources, the applicant must provide a photocopy of a tax return from the previous year, or provide a financial statement, or photocopies of three most current bank statements.

Identification:

All applicants must have a government-issued photo I.D. A social security number is required.

Credit:

All information showing on the credit report is subject to verification, including previous address and place of employment. Some items looked at are: late payments, tax liens, charge offs, repossessions, judgements, and discharged bankruptcies. Any applicant with a bankruptcy within the last seven (7) years will automatically be denied.

Credit Screening Criteria

Score Range Comments
625+ If applicant meets income, has a clean criminal background, no prior evictions & meets above credit criteria = APPROVED
575-624 If applicant meets income, has a clean criminal background, no prior evictions and meets the above credit criteria = CO-SIGNER AND/OR INCREASED DEPOSIT AND/OR FIRST AND LAST MONTHS RENT.
500 - 574 If applicant meets income, has a clean criminal background, no prior evictions and meets the above credit criteria = CO-SIGNER AND INCREASED DEPOSIT REQUIRED.
499 or below AUTOMATIC DENIAL

Criminal History:

A criminal history check will be done on all applicants over the age of 18. Residency may be denied due to criminal history. Please see the criminal background criteria below. Please remember that this requirement does not constitute a guarantee or representation that residents or occupants currently residing at the Property have not been convicted of a felony or are subject to deferred adjudication involving use or possession of an illegal substance; there may be residents and occupants that have resided at the Property prior to this requirement going into effect; additionally, our ability to verify this information is limited to the information made available to us by the credit reporting system.

Rental History:

Previous payment history will be reviewed, and negative rental history will not be accepted. Negative rental history is described as, but not limited to, any damages owed, rental related debt as described above, delinquent rental payments, and/or evictions filed within the past 5 years. If you have no prior rental history, you may be asked to provide a qualified co-signer. The co-signer must fill out an Iron Eagle Property Management application, have good credit history and be willing to sign on the lease.

Co-Signer Qualifying Standards

Income:

The co-signer’s gross monthly income must total at least two and a half (2.5) times the sum of the monthly rental rate. Co-signer must have verifiable employment or verifiable source of income. If co-signer is self-employed or receives money from non-employment sources, the guarantor must provide a photocopy of a tax return from the previous year, or provide a financial statement verifying employment and income, or photocopies of the three most current bank statements. The co-signer must reside in the United States. FICO score no less than 675

Criminal Background Criteria

Disqualification from Residency for Lifetime

Disqualification from Residency for 7 Years After the Completion of Sentence