Qualification Guidelines

Screening
All applications are processed by a scoring system based upon the information provided by you on your application. The screening is conducted by RentGrow, Inc. dba Yardi Resident Screening. An Experian credit report is used and the system assigns a grade using the various items we consider in evaluating an application such as,

  • Debt to income ratio
  • Past credit and rental history
  • Amount of current rent/mortgage vs. amount of future rent
  • Credit risk

The qualification standards for rental with Ticon Properties apply to all applicants. If you have any questions about our policies or about this information, please contact the Property Manager.

Applicant(s) and Co-Applicant(s)

Applicant and co-applicant(s) must reside in the unit for which they apply. All persons who will be living in the unit must be listed on the application. Maximum number of residents for a one bedroom unit is two (2) persons, a two bedroom unit is four (4) persons, and a three bedroom unit is six (6) persons. All leaseholder applicants must be at least 21 years old or older on date application is submitted. All occupants must be at least 21 years old at the time application is submitted unless residing in unit with a parent or guardian. An exception will be made for married couples in which one leaseholder is under 21 years old

Co-Signers

We will accept non-resident co-signers for full-time students only. Undergraduate students without full time employment must have a co-signer. The co-signer must be a parent or guardian. Co-signers bear only the financial responsibility and have no actual rights to the unit for which the applicant has applied. The co-signer must sign the Co-signer Addendum before keys will be released to the resident(s) for move in. No exceptions will be made.

Photo Identification
Valid photo identification must be presented when making application. Acceptable identification must be a valid government-issued photo ID such as a current driver’s license, passport, and/or state issued photo identification card. A photocopy will be retained for our records.

Employment
Applicants must provide proof of current employment. There is an income requirement of three times the monthly rent, except for undergraduate co-signers who must qualify for four times the monthly rent. Applicant must be currently employed within 60 miles of the complex for which you apply. We will accept as proof of self-employment status two (2) consecutive years of federal income tax returns, a current certified financial statement and photocopies of your three most recent bank statements. We will accept as proof of retirement status two (2) consecutive years of federal income tax returns, a retirement letter from employer, social security checks or retirement checks from your employer or an annuity. We will accept as graduate student status an acceptance letter or a current/valid university issued student ID stating status.

Credit History
A credit report will be obtained through RentGrow, Inc. dba Yardi Resident Screening on all applicants and co-applicants. An adverse credit history for the past seven years may be grounds for denial of the application. An original, signed social security card must be presented if credit is not established. The social security number will be verified with the Social Security Administration.

Rental History
Any adverse information regarding the applicant(s) rental history obtained through RentGrow, Inc. dba Yardi Resident Screening may result in the denial of the application. When reviewing past rental history the following information is obtained:
  • Rent paid by due date and number of late payments
  • Number of returned checks and collection fees 
  • Judgments filed
  • Property damage 
  • Pets on file
  • Non-compliance of Lease terms and policies
  • Noise complaints   

Criminal Background
A criminal background check will be obtained through RentGrow, Inc. dba Yardi Resident Screening. An applicant will automatically be denied in the event that any applicant or occupant has ever been convicted of a felony or misdemeanor involving sexual misconduct and/or the illegal manufacture, sale and/or distribution of a controlled substance, regardless of whether adjudication was withheld. An applicant will also be automatically declined in the event they have ever been convicted of a felony involving a physical crime against a person or persons and/or another person’s property. Denial of the application due to any other felony and/or misdemeanor is at the sole discretion of the Property Management Company.

Vehicles, Other Personal Property, No Liability of Landlord
Parking is limited at many properties. Therefore, there is a limit of two cars per unit. Extra parking places are provided, but we cannot guarantee parking in front of each building. All cars parked on the property must have current tags and inspection and be in operating condition. Trailers and recreational vehicles are not permitted in the parking areas. You may check with your Property Manager to see if your complex has a designated area for these vehicles. We are not responsible for loss or damage to vehicles. It is your responsibility to provide your own fire and other hazard insurance on your vehicles, their contents and the contents of your apartment.

Pets
Prior to bringing any pets in or onto the premises you must bring the pet by our office. We will then take a photograph of your pet and ask that you sign a pet agreement. No visiting pets are allowed without deposit. Pets under 50 pounds at maturity are permitted. Pets must have received all appropriate vaccinations. A non-refundable pet fee in the amount of $200 and a refundable pet deposit are required. The pet deposits are $200 for a one bedroom, $300 for a two bedroom, and a $400 for a three bedroom. The pet deposit is refundable after move-out and inspection. It will be applied towards damages beyond normal wear and tear and any remaining balances on the account. We reserve the right to restrict breeds or reject any pet at the Property Manager’s discretion. Breed restrictions include, but are not limited to, Chow, Rottweiler, Mastiff, Doberman, Akita, German Shepherd, Staffordshire Terrier, and Pit Bull.

Non-Refundable Application Fee
The application fee of $50 per person is non-refundable. It is important that you review these guidelines to be certain that you meet the criteria for acceptance of the rental application. The application will be processed once your application fee(s) have been paid. Failure to provide information specified in these guidelines will result in denial of the application for insufficient information. If your application is denied, the apartment for which you applied will be immediately put back on the market. If you can correct the adverse information that resulted in denial of the application, you may resubmit your application. An additional application fee will be charged to obtain an updated credit report.

Earnest Money/Security Deposit
We will run screening on the application after the fees are paid. If screening is approved, then we will charge an additional $300.00 on the payment account used to pay the fees.  The Earnest Money Deposit is held in order to reserve the apartment/townhome. 

If you cancel your application after notification of approval, the number of days rent lost in re-renting the apartment will be deducted from the deposit, and the remainder of the deposit, if any, will be refunded. If any pet fees or pet deposits have been paid prior to move-in, they will be refunded if the application is canceled before move-in.  Once the Lease Agreement is executed, the Earnest Money Deposit is retained as the Security Deposit. 


Revised 4.19

 

 


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