Apply On-line Question III

Let’s get you pre-qualified! | Question 3

 APPLICATION REQUIREMENTS

Thank you for choosing J*A*B Property Management, Inc. We are delighted that you are interested in one of our homes and the following resident selection criteria are being provided to identify the evaluation process through which your application will be processed.

 

It is the policy of J*A*B Property Management, Inc. to comply with all applicable federal, state and local fair housing laws and not to discriminate against any person based on race, color, national origin, sex, familial status, religion, handicap, disability, sexual orientation, gender identity, marital status, age, source of income, military status, or any other basis prohibited by law.

 

It is the policy of J*A*B Property Management, Inc. to consider any and all requests for reasonable accommodations or modifications when they are necessary to provide a person with a disability an equal opportunity to use and enjoy their home and/or the community common areas. If you have any questions on how to submit a reasonable accommodation or modification request, please contact the rental office.

 

The acceptance and processing of the rental application and its application fee does not constitute a guarantee of acceptance for housing. All applicants must meet the itemized criteria listed below to be considered for tenancy. All documentation requested during the application process must be submitted immediately. Failure to supply information or documentation within forty-eight (48) hours of the request may result in an application being rejected.

 

Application fees are $46.00 for application processed. Application fees are non-refundable and cover the costs of obtaining information about you, including but not limited to the cost of using a tenant screening service or a consumer credit reporting service and the reasonable time spent to validate, review, or otherwise process your application. Application fees are deposited on the same business day.

 

Applications are completed online at www.jabpropertymgmt.com. All major credit cards are accepted.

 

Rental Application

All persons eighteen (18) years of age or older, and those deemed to be an adult under applicable law with respect to the execution or contracts, will be required to complete their own application. Only applications that are fully completed and signed will be processed for consideration.

 

An applicant’s intentional misrepresentation or intentional omissions of any information on the application will be sufficient reason for rejection of the application.

 

Occupancy Guidelines

In accordance with the following guideline, the household composition must be appropriate for the dwelling size in which the household is applying.

 

BEDROOM SIZE

MINIMUM PERSONS

MAXIMUM PERSONS

1 Bedroom

1

3

2 Bedroom

1

5

3 Bedroom

1

7

4 Bedroom

1

9

5 Bedroom

1

11

 

If the household exceeds the maximum occupancy during tenancy, the household may be allowed to remain in the unit until the lease expires, or for a reasonable period of time after, before being transferred to a larger unit or move from the property. This is not applicable to the addition of adult occupants, without first obtaining management approval, is considered a violation of the lease.

 

Rental Scores

The approval of credit is based on the rental scores. Rental scores are relied upon to estimate the relative financial risk of leasing a dwelling to you. Scores are calculated using weighted average of factors and your rental score results from a mathematical analysis of information found in your credit report and application. Such information may include your bill-paying history, the number and type of accounts you have, open bankruptcies, unpaid utility bills, collection actions, charge-off, repossession, eviction histories, outstanding debt, income relationships, (rent-to-income and debt-to-income ratios), and other attributes that reflect on your qualifications to meet the terms of your lease. Because your rental score is based upon real data statistics, it is more reliable than subjective methods of evaluating your information. Rental scoring treats all applicants consistently and impartially.

 

Rental Score Recommendations

Approve- This is the most desirable recommendation and has the lowest security deposit level.

Approve with Conditions- Although the application may be accepted on this recommendation, this score presents a higher risk and may require the highest security deposit or co-signer.

Decline- J*A*B Property Management, Inc. will not proceed with the application

 

Income

All households must have verifiable net income that is at the least 3 times the monthly rent amount. Income must be legal and verifiable. Written verification and proof of all income includes, but is not limited to, current and consecutive pay stubs, social security or other retirement income, disability, or SSI, income tax returns, workers compensation payments, bank statements, and trust accounts. Temporary income will not be accepted. Applications not meeting the income-to-rent ratio may be required to pay an increase to the security deposit or obtain a co-signer.

 

Rental History

All households must have a minimum of 12 months verifiable rental or mortgage payment history within the last twenty-four (24) months. Applicants not having verifiable rental or mortgage history may be required to pay an increased security deposit or obtain a co-signer. Friends and/or family members are not considered as rental references.

Applications may be denied for the following reasons:

  1. An outstanding debt to a previous landlord
  2. A public record of an unlawful detainer action or an eviction
  3. A breach of prior lease including failure to pay rent timely and non-compliance with rules, laws and regulations

 

Criminal History

A criminal background check may be conducted for all persons eighteen (18) years of age or older. Applicants may be rejected for the following offenses: fraud, theft, drugs, arson, sexual assault, any violent crime, or for other convictions of illegal activity involving dishonesty or risk to others.

 

Personal and Liability Insurance

J*A*B Property Management, Inc. requires personal liability insurance.

Approved households are required to carry a Personal Liability Insurance Policy. The coverage limit for the personal liability must be maintained at no less than $100,000 per household. You may obtain this through the property program or through the insurance company of your choice.

 

Photo Identification

All applicants will be required to show a government-issued photo identification to confirm identity. If an applicant’s identification cannot be verified, it is grounds for rejection.

 

Guarantors/ Co-signers

Guarantors (co-signers) will be accepted for applicants who do not meet the required rent-to-income ratio, credit, or rental history requirements. Only one (1) guarantor per dwelling is permissible. The guarantor will be required to complete an application and pay a full application fee. Guarantors must meet a higher financial standard of 5 times the monthly rent amount which includes demonstrating the ability to meet the income-to-rent ratio of the household they are guaranteeing in addition to their own mortgage or rent payments. Guarantors must also meet all other qualifying criteria identified in this application criteria. The guarantor will be asked to sign a Guaranty Agreement and a notary may be required.

 

Pets

If pets are accepted, applicants must fill out a Pet Application and follow the Pet Acceptance Criteria. An additional deposit of $500 per pet will be required for approved pets. Maximum of 2 pets allowed per home, up to 25 Ibs maximum, mature weight- Rottweiler, Doberman and Pit Bulls are strictly prohibited.

 

Conduct

Applicants may be rejected for conduct displayed during the tour or application process that would constitute a violation of the lease policies. Applicants must show a willingness to comply with the lease policies.

 

Denied/ Approved with Conditions

Denied or conditionally approved applicants will be notified in writing of the reason for denial or conditional approval.

Do you accept JAB Property Management's application requirements?