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KBC Management, Inc. Rental Criteria


KBC Management, Inc., and the properties it manages, are in total compliance with State and Federal Fair Housing Guidelines. No persons shall be discriminated against on the basis of race, color, religion, sex, disability, familial status, national origin, sexual orientation, marital status, age, source of income, or any other applicable protected class.

OCCUPANCY POLICY

Occupancy is based on the number of bedrooms in a unit. A bedroom is defined as a space within the premises used primarily for sleeping, with at least one window and a closet for clothing.

  • Two persons are allowed per bedroom.
  • Two persons are allowed in a Double Studio or Studio apartment.

SCREENING PROCESS

  • Each Applicant must submit an Application, pay a $41 screening fee and show photo I.D.
  • Applications are processed in the order in which the completed Application is received.
  • If a Co-Signer is required, the Co-signer must be approved through the same screening process and fees. The Co-signer must meet all Criteria except for the Landlord reference.

CREDIT CRITERIA

ADVERSE CREDIT: Qualified Co-Signer or Increased Security Deposit or Qualified Roommate is required if:

    a) Applicant has three or more accounts which have been ninety days or more past due
    b) Unpaid collections totaling less than $200
    c) Unpaid collections which are entirely medical expenses
    d) Previously paid collections
    e) Bankruptcy within the past three years

UNPAID COLLECTIONS: The Applicant will be Denied* if collections totaling more than $200 (excluding medical expenses) appear on the Credit Report, unless accompanied by a qualified roommate.

*The Applicant may be approved with a Qualified Co-Signer or Increased Security Deposit if written proof that collections have been paid is provided within twenty-four hours of notification of collections by a KBC representative.

INCOME CRITERIA

GROSS MONTHLY INCOME MUST BE THREE TIMES RENT
Note: Income may be combined for two or more Applicants for the same apartment

A Qualified Co-Signer or Qualified Roommate is required if Applicant does not have income equal to three times the rent.

EMPLOYMENT INCOME will be verified by Employer or most recent pay stub.

SELF-EMPLOYMENT INCOME will be verified by the previous year’s tax return.

NON-EMPLOYMENT INCOME, such as Social Security and Savings Accounts will be verified with written documentation and must show that Applicant will receive three times the rent every month for the next year, or must contain funds in the amount of at least equal to three times the monthly rent for a full year.

RENTAL OR MORTGAGE HISTORY CRITERIA

ONE YEAR OF POSITIVE RENTAL OR MORTGAGE HISTORY REQUIRED

A Qualified Co-Signer or an Increased Security Deposit or Qualified Roommate is required if Applicant does not meet the Rental or Mortgage History Requirement.

The Applicant will be Denied for the following reasons:

EVICTION ACTION within the past four years. Eviction actions that were dismissed or resulted in a judgment for the Applicant will not be considered.

NEGATIVE LANDLORD REFERENCE including any of the following:
~ Three or more late payments, dishonored (NSF) checks or 72-hour notices
~ Past due or unpaid rent over $100
~ Indication from Landlord that he would not re-rent for a valid and/or non-discriminatory reason

CRIMINAL CONVICTION CRITERIA

CRIMINAL CONVICTIONS: The Applicant will be Denied should public records show a single conviction, guilty plea, no contest plea or pending charge for any of the following:

  • Murder, manslaughter, Class A felonies involving arson, rape, kidnapping, child sex crimes, where the date of disposition, release or parole has occurred in the last 20 years.
  • Criminally negligent homicide, aggravated vehicular manslaughter and Class A felonies not included above for drug-related crimes, person crimes, sex offenses, financial fraud crimes, burglary, where the date of disposition, release or parole has occurred in the last 10 years.
  • Class B felony for drug-related crimes, person crimes, sex offenses, financial fraud crimes, aggravated theft where the date of disposition, release or parole has occurred in the last 7 years.
  • Class C felony for drug-related crimes, person crimes, sex offenses, financial fraud crimes, burglary, theft, criminal mischief, coercion, animal abuse, where the date of disposition, release or parole has occurred in the last 5 years.
  • Class A misdemeanor for drug-related crimes, person crimes, sex offenses, financial fraud crimes, criminal impersonation, violation of restraining order, criminal mischief, stalking, disorderly conduct, unlawful possession of a firearm, possession of burglary tools, where the date of disposition, release or parole has occurred in the last 3 years.
  • Class B misdemeanor for drug-related crimes, person crimes, sex offenses, financial fraud crimes, disorderly conduct, where the date of disposition, release or parole has occurred with the last 18 months.

ADDITIONAL GROUNDS FOR DENIAL

Inaccurate or falsified information shall be grounds for denial of the Application or subsequent termination of tenancy upon determination of such falsified information.

Any Applicant that is a current illegal drug user will be denied. If approved for tenancy and later illegal drug use is confirmed, eviction shall occur.

Any Applicant whose tenancy may constitute a direct threat to the health and safety of any individual, the property or others will be denied.

SUMMARY OF SCREENING RESULTS

  1. APPROVAL if Applicant meets all Criteria.
  2. If Applicant does not meet Credit Criteria or Rental History Criteria, one of the following is required
    • QUALIFIED CO-SIGNER
    • INCREASED SECURITY DEPOSIT
    • QUALIFIED ROOMMATE
  3. If Applicant does not meet Income Criteria, one of the following is required
    • QUALIFIED CO-SIGNER
    • QUALIFIED ROOMMATE

Note: an Increased Security Deposit is $300 above the standard Security Deposit

APPLICATION APPROVAL & REQUIREMENTS

If application is approved the Applicant(s) will be:

  1. Required to make payments and sign all required paperwork within 24 hours of approval notification **
  2. Provide proof of Renters Insurance*

WHEN THE APARTMENT IS READY FOR OCCUPANCY:
Lease must begin NO LATER THAN 10 DAYS FROM DATE OF APPLICATION APPROVAL.

WHEN THE APARTMENT WILL BE READY AT A FUTURE DATE:
Lease must begin on whichever date is later in the following two options:

  1. ON THE DATE THE APARTMENT IS AVAILABLE (as determined by KBC) or
  2. NO LATER THAN 10 DAYS FROM DATE OF APPLICATION APPROVAL

**IF MOVING IN RIGHT AWAY: Applicant will need to sign a Lease Agreement, and all other move-in paperwork, as well as pay all deposits, and a full first month’s rent.

**IF MOVING IN AT A FUTURE DATE: Applicant will need to sign an Agreement to Enter into Lease, a Lease Agreement and pay $350 within 24 hours of approval notification. The $350 will be applied towards the total move-in costs, but shall be forfeited to Landlord as liquidated damages if the Tenant fails to pay the full move-in balance on the lease start date and/or fails to occupy the unit.

*Renters Insurance is required with minimum $100,000 Liability coverage. Each Tenant on the Lease must be named on a Renters Insurance policy.