| Leasing Criteria For Pin Oak Park Apartments of Katy A. Salary/Employment 1. Your local employment must be verified, including salary amount. 2. To qualify, prospective resident’s combined monthly income must be equal to or exceed three (3) times the monthly rental amount. If there are 3 or more lessee’s then their combined income must be equal to or exceed four (4) times the monthly rental amount. 3. Market rent is to be used as qualifying rental amount on those properties that have rent specials. 4. Self-employed prospective residents may be required to provide previous years tax return for salary verification. 5. When employment is not verifiable, Bank accounts, stocks, bonds and other forms of assets may also be used to verify the financial status of a prospective resident. It will be necessary to furnish management with proof of funds equal to one (1) year worth of rent and funds must be documented to have been in the account for the last four (4) months. B. Credit Management will request a credit history through NTN Online, taking into consideration timely payments, the prospective resident’s debt-to-income ratio and the anticipated rental amount. Marginal or bad credit may result in an increased security deposit or denial of the application. We also consider payment history and available credit or the absence of credit as a reason for denial. We do require verification of identity and criminal background check on all applicants and occupants over the age of 18. C. Residential/Rental History The prospective resident must have at least one (1) year of acceptable rental history in the last four (4) years that can be verified or be a recent college or technical student. A satisfactory rating on the credit report for a mortgage will serve in lieu of rental history. No payment or collections outstanding to other apartment communities or landlords accepted. D. Occupancy Standards The Federal occupancy standard is set at two (2) persons per bedroom in each apartment. E. Criminal Search Any applicants who have been determined to have criminal conviction or current indictment for possession, sale, manufacture or distribution of controlled substances or for any crimes involving firearms or crimes against persons or property will be denied residency and occupancy. This includes all felonies and Class C Misdemeanors. Management reserves the right to deny residency and occupancy for any criminal activity at their discretion. Guarantors/co-signers cannot be a substitute for this requirement. F. Guarantor Pin Oak Park will accept a guarantor for prospective residents who do not meet the above listed for either salary or credit but not both. The guarantor must qualify for the apartment based on the above listed criteria. The guarantor must qualify using only his/her sources of income. G. Criteria subject to change without notice. |
Application Requirements
Pin Oak Park Apartments of Katy
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