Pinecroft Place Apartment Homes
1. All full time occupants of the apartment that are 18 years of age or older must complete an application and pay the $25.00 application fee (unless waived because of current specials). An occupant may be considered part-time only if they can show proof of residency in another city or state and\or proof of full-time student status where residency is established in another city or state. The occupant must not spend 15 or more consecutive nights at the apartment in any given 30 day period.
2. Monthly income must be at least 2.5 times the monthly rent. If income Requirements are not met, the applicant(s) can have a Guarantor complete a Guaranty of Lease Agreement form. The form must either be notarized or completed in the presence of a member of our office staff.
3. Applications are approved based on an Auto Select process that is designed to estimate the relative financial risk of leasing an apartment to the applicant(s). This process offers an objective and consistent way of reviewing relevant applicant information and offers 2 tiers of approval based on the financial risk determined from the Auto Select factors we have chosen. Below is an explanation of the factors:
Landlord\Tenant Records for judgments and evictions that occurred in the last 48 or less months will result in the application being
Landlord\Tenant Records for court filings that occurred in the last 24, or less months, will result in the application being denied.
Derogatory Credit percentage, which is defined as a payment that is 60 or more days late, must be less than or equal to 30% to be
approved with a standard security deposit and administrative fee and greater than 30% but less than or equal to 50% to be approved
with a 2nd tier deposit and administrative fee. If the percentage is greater than 50% the application will be denied.
Bankruptcy that occurred in the last 12, or less, months, will result in the application being denied.
Public Records for Civil Judgments for unpaid accounts above $500.00, excluding medical and educational loans, must be older than 12 months to be approved with a standard security deposit and administrative fee and less than 12 months to be approved with a 2nd tier security deposit and administrative fee.
Collections for unpaid accounts above $500.00, excluding medical and educational loans, must be older than 12 months to be approved with a standard security deposit and administrative fee and less than 12 months to be approved with a 2nd tier security deposit and administrative fee.
Multi-Family Collections that occurred in the last 24, or less months, will result in the application being denied.
If Utility Debt is found to be owed, the applicant must pay the debt in full and provide proof of payment to be approved.
Foreclosures that occurred 25 or more months ago will be approved with a standard security deposit and administrative fee.
Foreclosures that occurred in the last 24, or less, months will be approved with a second tier deposit and administrative fee.
A Multi-State Sex Offender check will be performed and, if found, will result in the application(s) being denied. A criminal background
Check will be processed and if a felony conviction, which occurred in the last 15 years (some felony convictions are based on the last 10
years) is found the application(s) will be denied.
Standard Security Deposit is $250 and Standard Administrative Fee is $125.
Second Tier Security Deposit is $500 and Second Tier Administrative Fee is $250.
5. Occupancy standards specified below would also include a plus “+1” option for all apartments.
1 Bedroom 2 persons
2 Bedrooms 4 persons
Should your application be denied, or conditionally accepted, you can learn which factors most negatively influenced the decision by contacting the consumer reporting agency listed below. Additionally, you can obtain a free copy of your consumer report, if you make the request to the consumer reporting agency within 60 days of the adverse action. CoreLogic SafeRent
ATTN: Consumer Relations Department
P.O. Box 509124 San Diego, CA 92150
Ph. (888) 333-2413
Procedure for Securing an Apartment
1. Application must be filled out completely with all information needed for approval and it must be dated and signed. If necessary information is not provided by applicant(s) when the application is submitted the applicant must provide information requested within 48 hours of our request.
2. The application fee (per adult applicant, which is anyone at/over the age of 18) must be paid (unless waived because of current specials).
3. The standard administrative fee must be paid and if the application process results in a 2nd tier approval, the remaining administrative fee must be paid upon notification of the 2nd tier approval and no more than 48 hours after.
4. Applicant(s) must choose the apartment they are applying for.
5. Applicant(s) must sign a lease within 3 working days of the day they are notified that the approval process is complete and they are approved unless the scheduled move in date is within 3 days of the approval notification date. Applicants have until the end of the 3rd day to sign the lease agreement. If the lease agreement has not been signed by the end of the 3rd day, the applicant will be considered a back out and will forfeit the administrative fee. Simply stated, the applicant can back out of the agreement within 3 days of approval or will be considered a back out if the lease is not signed by then end of the 3rd day.
6. After the lease has been signed and the 3 day period has expired, the lease agreement will act as a contract and all financial obligations under the contract are binding. The beginning date of the lease term will be the move in date and the date signed will be the actual date the lease is signed. The keys will be distributed and other paperwork will be signed on the move in date.
7. We will allow lessees to sign the lease agreement at separate times, but they do so at their own risk with the understanding that if the additional persons listed as lessee(s) on the lease agreement do not sign the agreement, they are not considered lessee(s) and will not be treated as such. The keys will be distributed and other paperwork will be signed on the move in date.
Procedure for a Temporary Hold
A prospect can place a “temporary hold” on a specific apartment for 1 day (which is defined as the end of the business day after the date the hold was placed, including Saturday), if they are willing to complete a rental application and pay the application fee and administrative fee. We will then “pencil” their name in for that apartment, but we will not run the application or deposit the checks during the hold period. If the prospects have not contacted us by the end of the next business day the hold will be removed and the application fee and administrative fee will be mailed back to the prospect(s) at the address they provided on the application unless another address has been provided. Once the hold is removed, the apartment will immediately become available to the next prospect.
Waiting List Policy
When our current availability does not meet the needs or desires of a prospect or their desired move in date exceeds the time allowed (based on current occupancy), the prospect can elect to be placed on a waiting list. In order to be placed on the waiting list the following must occur:
An application must be completed by all persons 18 years of age or older. The application fee must be paid (unless waived because of current specials). If\when an apartment meeting their specifications becomes available we will notify the applicants and will give them until the end of the next business day to pay the administrative fee, notify us of their intent to secure the apartment and begin the application approval process. During this time we will “hold” the apartment for them, but if they have not paid the administrative fee and notified us of their intent to secure the apartment by the end of the next business day, the “hold” will be removed and we will call the next person on the waiting list and follow the same procedure. At this point the apartment will be rented to the prospect that begins the process of securing the apartment 1st.