ELM SPRING, Inc.
RENTAL CRITERIA AND APPROVAL CRITERIA
Elm Spring, Inc. does not discriminate against any person based on race, color, religion, sex, national origin, handicap status, familial status, or any other state or locally protected classifications. Each applicant will be processed thoroughly through the screening process. If you believe that you meet the application Rental and Approval Criteria, please apply.
Occupancy:
Elm Spring, Inc. used HUD guidelines in selecting the maximum number of people per home. In general, but with exception, two (2) people per bedroom is the recommended maximum occupancy for an apartment.
Roommates: Two (2) persons per bedroom only.
Familial Status: Familial Status protects children under the age of 18 and the family with children under the age of 18. A maximum of two persons per bedroom plus one (1) additional person (child under the age of 18) per apartment home. Example: 1/1 = 3 persons; 2/2 = 5 persons; 3/2 = 7
Identification:
All visitors must present a valid photo ID issued by a state of government authority.
A copy of all applicant’s photo IDs will be made and retained at time of lease signing.
Rental Applications:
All applicants must be eighteen (18) years of age or older. To be considered for approval, all adults must fully complete a rental application; which will be maintained for each applicant living in the apartment and/or contributing to the payment of rent. Any false information may result in denial of and application or terminate the right to occupy the apartment.
Rental History:
Elm Spring, Inc. may request verification of rental history and previous residence. Previous rental history inquiries from previous landlords must reflect a positive record of timely payments, verification of sufficient notice was and/or has been provided, no damage to rental property, no complaints regarding noise, disturbance, or other illegal activity. Evictions, Skips, or Money Left Owing to Landlord may result in an automatic rejection.
Credit History:
All Applicants will be verified by a third-party verification service. A complete credit history from a credit bureau is required to determine rental eligibility and security deposit levels. An unsatisfactory credit report can disqualify an applicant from renting an apartment home at this community. An unsatisfactory credit report is one which reflects past or current bad debts, late payments or unpaid bills, liens, judgments or bankruptcies. Applicants that have established credit history in the last 12 months, may be conditionally accepted with a higher deposit and/or a Lease Guarantor.
Rental Scores are used to estimate the relative financial risk of leasing an apartment to you. In addition to estimating risk, rental scores are an objective and consistent way of reviewing relevant applicant information, and help speed the application approval process.
Your rental score results from a mathematical analysis of information found in your credit report, application, and previous rental history. Rental scores are based on real data and statistics; it is more reliable than subjective methods of evaluating your information. Rental scoring treats all applicants consistently and impartially.
If an applicant is declined, the applicant will be given an adverse action letter which will provide you with the name of the credit reporting agency on how to obtain credit reports used to determine eligibility for occupancy. Management cannot be held responsible for inaccuracies contained in any information obtained, and is not allowed to provide details to the applicant regarding said information. All information collected for the approval or denial of this application is considered confidential in nature and for company use only.
Criminal Background Check:
Elm Spring, Inc. will conduct a criminal background on all applicants. Any applicant whose criminal history cannot be verified will be automatically declined. An applicant may be denied in the event the applicant(s) have ever been convicted of a felony. Such crimes would include:
Criminal background decisions are based on the information provided by a third-party verification service at the time of application. Management cannot be held responsible for inaccuracies contained in any information obtained.
Income:
Applicants must be able to provide proof of their gross income individually. Elm Spring, Inc. requires that each individual Applicant’s monthly gross income is equal to or more than 40% of the Applicant’s rent. Applicant will be required to provide set proof of income within twenty-four (24) hours of completing an application.
Acceptable forms of income verification:
Applicants can provide a combination to all the above forms of proof of income; excluding the Lease Guarantor (please refer to the Lease Guarantor criteria).
Lease Guarantors:
Lease Guarantors may be used for applicants with insufficient income or credit. A guarantor must be able to provide proof of their gross income individually, please refer to the acceptable forms of income listed above. Elm Spring, Inc. require that each individual Guarantor's gross income is equal to or more than 33% of the Applicant's annual rent. Guarantors will be require to provide set proof of income within twenty-four (24) hours of completing an applications. The Guarantor must reside in the USA. A Guarantor and/or additional security deposit may be required upon evaluation of the rental application(s).
Non-US or US Citizens without a SSN or ITIN:
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
Applicants must be able to provide proof of their gross income individually, please refer to the acceptable forms of income listed above. Elm Spring, Inc. requires that each applicant must make a total of three (3) times the monthly rent. Applicants will be required to provide set proof of income within twenty-four (24) hour of completing an application.
Payment Terms and Conditions:
Correct Information:
Applicant represents that all of the statements being provided are true and complete. Applicant acknowledges that false information may constitute grounds for rejection of the application, termination of right of occupancy, forfeiture of deposits and/or subjection to eviction, and may constitute a criminal offense under the laws of this state.
Notice: This is to inform you that as part of our procedure for processing your application an investigative consumer report may be prepared whereby information is obtained through oral interviews with your neighbors, friends, or others with whom you are acquainted. This inquiry includes information as to your character, general reputation, personal characteristics, and mode of living. You have the right to make a written request within a reasonable period of time to receive additional detailed information about the nature and scope of this investigation. Re-verification or investigation of preliminary findings is not required under the Fair Credit Reporting Act of 1988.
Authorization:
I/We, hereby authorize The Bartram, LLC, to obtain a consumer report, and any other information it deems necessary, for the purpose of evaluating my application. I understand that such information may include, but is not limited to, credit history, civil and criminal information, records of arrest, rental history, employment/salary details, vehicle records, licensing records, and/or any other necessary information. I hereby expressly release The Bartram, LLC, and any procurer or furnisher of information, from any liability what-so-ever in the use, procurement or furnishing of such information, and understand that my application information may be provided to various local, state and/or federal government agencies, including without limitation, various law enforcement agencies. I/We understand and agree to all conditions set forth in this application.
Payment:
Applicant paid an application fee and a reservation fee in consideration for Owner’s taking the dwelling unit off the market while considering approval of this application. The application fee is a non-refundable fee for costs and expenses for checking applicant’s consumer report and any other information it deems necessary, for the purpose of evaluating this application. The Reservation Fee will be applied towards the required apartment deposit. If this application is not approved, the Reservation Fee will be refunded in full to applicant. If applicant is approved, but fails to enter into the lease within 3 days of verbal and/or written approval and/or take possession after lease signing, a $200.00 cancellation fee will be charged by the Landlord or Management from the date the application is signed and apartment is taken off the market. If lease is entered into and possession of the apartment is taken, the “Reservation Fee” shall be applied toward the required Security Deposit. Applicant understands that any refund will be made within 30 days to allow for processing and clearing of checks. Refund checks may be made payable to all co-applicants and mailed to one applicant. Reservation Fee monies are deposited within three (3) business days of receipt or at time of approval, which may be the same day as receipt of deposit.
Online payments will be charged a convenience fee based on the payment method you have selected to use, which is non-refundable