Applicant Screening Qualification Acknowledgement 

Disclosures

KRI Properties strives to provide an equal housing opportunity to all and does not discriminate on the basis of race, color, religion, national origin, sex, disability, and familial status. KRI Properties all abides by all local and state fair housing guidelines.

All adult prospects 18 years or older must present a current government issued ID in order to view the community. A copy of this ID will be retained and kept on file at the time of move in. Each occupant over the age of 18 must complete their own rental application and be considered as responsible lease holders.

HUD standards & guidelines for occupancy limitations are followed, subject to local municipality regulations, with the general practice of no more than (2) persons in a one-bedroom apartment, (4) persons in a two-bedroom apartment and no more than (6) persons in a three-bedroom apartment.

Applicants may be required to provide a holding or good faith deposit to be collected to hold a property off the market. In the event the application is approved and applicant fails to enter into a lease, the applicant shall forfeit this deposit. In the event the application is approved, this deposit shall be applied to the required security deposit. KRI Properties reserves the right to require a higher security deposit and or additional prepaid rent if conditions require it.

Screening Criteria Standards
Application Fee - a non-refundable application fee must be submitted per person in order for the screening process to be conducted

Income - documentation of a combined gross income of at least _____ 2.5 times or ___X__ 3.0 times (check one) the monthly rent is required. Acceptable forms of documentation include payroll or paystub documents consistent with the most recent 30 calendar days, most recent W2 or 1099 or a notarized letter from the employer along with bank statements consistent with the most recent 30 calendar days. An offer letter is acceptable for new employment. Self-employed applicants may be required to supply their most recent tax documents or proof of assets. Those without income must be able to provide proof of 2.5 times the lease term in assets. KRI Properties reserves the right to require a cosigner or guarantor as well as a higher conditional deposit.

Credit - an unsatisfactory credit screening may result in a declined application. Bankruptcies and evictions filed within the last (7) years may be subject to decline. KRI Properties reserves the right to require a cosigner or guarantor as well as a higher conditional deposit.

Background Screening - criminal records that contain convictions for misdemeanors for crimes involving violence, assault or battery, drugs, firearms; felonies within the past (7) years may be subject to decline. No sexual offenses are permitted. In the event a record comes back "adjudication withheld", “nolle prosse”, or “adjudication deferred”, further documentation may be required and applicant may be denied on this basis.

Rental History - Previous rental history reports from landlords must reflect timely payment, sufficient notice of intent to vacate, no complaints regarding noise, disturbances or illegal activities, no unpaid NSF checks, and no damage to the unit or failure to leave the property clean and without damage at time of lease termination. Eviction, skip or money left owed to a landlord within (7) years of application date may result in denial.

Guarantor – in the event of a conditional approval a guarantor may be required. Guarantor applicants must complete a separate guarantor application and provide proof of income equal to 5 times the monthly rent. A satisfactory credit screening is also required as well as an application fee and proof of government issued identification. In the event of guarantor approval, it will be required that a separate Guaranty of Lease is completed.

Applicants Without a SSI or Individual Tax ID - it is not required to hold a social security number or individual tax ID, however, Non-U.S. citizens who do not provide the required U.S. INS documents that correlates to the dates on the lease agreement may be subject to denial