Conventional Property Rental Criteria

Purpose (Why we do this):

Horizon Realty Advisors does not discriminate against any person based on race, color, religion, gender, national origin, familial status, or disability. The rental criteria listed below explains the policies of our properties, with regard to the standards that must be met by each applicant in order to be approved for residency.

Policy (What you’re supposed to do):

Each applicant is required to be screened in the Entrata system prior to move-in. In order to be screened the applicant must first fill out an application, provide photo identification, and submit appropriate documentation for proof of income. Roommates, as well as legally married couples, will be evaluated on an individual basis. We do not accept reusable tenant screening reports.

Student applicants are permitted to apply with a guarantor to assist them in qualifying for housing. Similarly, the guarantor must also submit an application agreeing to be liable in case of any default by the applicant, provide photo identification, and also provide appropriate documentation of proof of income before being screened in the system with the applicant.

Procedure (HRA Way!):

Age: All applicants must be of legal age. All persons 18 years of age or older are required to complete an application.

Credit History: A credit report will be processed on each applicant. All applicants will be evaluated on a percentage system and verified by Entrata, a third-party screening service. An applicant can have no more than 30% negative credit on the current status of all accounts. The determination for acceptance is based on statistical data such as payment history, number, and type of accounts, outstanding debt and age of accounts. Co-signers are NOT accepted on ALL properties. Decisions are NOT negotiable. An explanation for application results is listed below.

• Pass: The applicant will be accepted with the standard deposit and fees.
• Pass with Conditions: The applicant must pay an additional deposit at the time of move-in. This amount will be determined by a combination of the credit history and rental history and be equal to an amount up to the base rent.
• Fail: Application will not be accepted. The applicant will be provided with contact information for the consumer reporting agencies that provide consumer information.

Income Verification: Income level for each applicant must be gross taxable income before taxes, averaging at least three (3) times the monthly rental amount. Income level for each guarantor must be gross taxable income before taxes, averaging at least five (3) times the monthly rental amount. Each applicant/guarantor may provide one of the following:

• 2 months’ of an applicant’s most recent pay-stubs.
• Income tax returns from the most recent year.
• A Letter from employer or Certified Public Accountant on company letterhead verifying income. If the applicant has insufficient income or no recurring source of income, the applicant must provide proofof financial institution accounts greater than 3 times the rental amount for the term of the lease and verifiable income and receive an acceptable ResidentVerify credit score.

Residents of Foreign Countries: If the applicant has no social security number, the following will be required:

• Proof of foreign citizenship and valid passport.
• Provide a copy of an I-20 form.
• Provide additional deposit equal to one month’s rent prior to move-in and will not be refunded until after resident(s) move-out, and/or applicable charges have been applied. This deposit must be paid with a money order or cashier’s check only.

Criminal Background Check: Applicants will automatically be denied residency if:

• Convicted of, or currently charged with, a felony, the manufacturing and/or distribution of an illegal controlled substance, or charges of a violent nature.
• There is a falsification of any information entered on the application.
• Misdemeanors will cause a negative effect on your approval or even cause a denial.

Rental History: All applicants must provide at least 2 years of favorable rental or home ownership history for the previous two years. If the applicant has less than 2 years or no rental history, an additional deposit equal to a full month’s base rent (or partially based on verifiable history) will be required at move in. Two late payments and/or returned checks per year of residency are acceptable.