PROPERTIES:
 - APARTMENTS
- OFFICE/RETAIL

- CURRENT RENTALS

- NEIGHBORHOODS

- RENTAL PROCEDURES

- RESIDENT SERVICES

- HOME
 

 

RENTAL CRITERIA for KBC MANAGEMENT, INC.

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

Two persons maximum are allowed per bedroom.

Two persons maximum are allowed in a double studio or studio apartment.

APPLICATION PROCESS

  • Each Applicant must be at least eighteen (18) years old or an emancipated minor.
  • Each Applicant must submit an Application and pay a screening fee of $40.
  • Applications are processed in the order in which the completed Application is received, along with the non-refundable screening fee.

Upon completion of application processing, the following applies:

APPLICATION APPROVAL
If Application is approved, the Applicant will be required to return to the property within twenty-four (24) hours of approval notification to sign an Agreement to Enter into Lease.

REQUIREMENTS AFTER APPLICATION APPROVAL:

  • If the lease commences immediately: 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 the Lease commences 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.

When the Apartment is READY for occupancy:
The Lease must start no later than three (3) days from date of application approval.

When the Apartment is NOT READY for occupancy:
The lease will start on the date the apartment will be available, as determined by KBC Management, Inc.

APPLICATION REJECTED
If the Application is rejected, Applicant will be notified promptly.

SCREENING & CRITERIA FOR RESIDENCY
GENERAL REQUIREMENTS

  • Positive photo identification is required.
  • A complete and accurate Application is required.
  • The following four (4) Criteria are evaluated as provided in the Application:

1. CREDIT. POSITIVE CREDIT IS PREFERRED

  • If within the past two years an Applicant has greater than two accounts which have been ninety (90) days or more past due, or any previously paid or unpaid collection, then the Applicant is considered to have Adverse Credit.
  • Any Bankruptcy within the past three (3) years will require that the Applicant obtain a Co-Signer.
  • Any Unpaid Collection, greater than $200, must be paid within twenty four (24) hours of notification by KBC. The existence of an Unpaid Collection, even paid, however, will require that the Applicant pay an increased Security Deposit that is $300 above the original quoted Security Deposit.

2. INCOME. APPLICANT’S GROSS INCOME SHALL BE AT LEAST THREE (3) TIMES THE RENTAL RATE.

Income must be verified by:

  • Employer or most recent pay stub.
  • Proof of self-employment income shall be made by previous year’s tax return.
  • Non-employment income (social security, savings, pensions, etc.) shall require written verification and must either demonstrate that Applicant will receive three (3) times the rent every month for the next year, or must contain funds in the amount at least equal to three (3) times the monthly rent for a full year.

3. EMPLOYMENT HISTORY. EMPLOYMENT MUST BE FOR A PERIOD OF ONE (1) YEAR if Applicant is relying upon employment income as source of income.

4. RENTAL/MORTGAGE HISTORY. COMBINED POSITIVE LANDLORD REFERENCES FOR A MINIMUM OF ONE YEAR IS REQUIRED or ONE YEAR OF POSITIVE MORTGAGE PAYMENT HISTORY.

5. CRIMINAL CONVICTION HISTORY. Convictions for certain crimes, as listed on page 4, will be grounds for denial of the Application.

FOLLOWING ARE THE POSSIBLE RESULTS OF THE SCREENING PROCESS BASED UPON THE EVALUATION ABOVE:

  1. APPROVED. If Applicant meets the standards for all five (5) Criteria, then Applicant will be approved with the requirement for the full first month rent and stated deposits.
  2. A QUALIFIED CO-SIGNER* will be required if the Applicant fails to meet the INCOME Criteria, the EMPLOYMENT HISTORY Criteria, or both of these Criteria, but positively meets the remaining Criteria.
  3. A QUALIFIED CO-SIGNER* or an INCREASED SECURITY DEPOSIT** will be required if Applicant fails to meet the RENTAL/MORTGAGE HISTORY Criteria but positively meets the remaining Criteria.
  4. A QUALIFIED CO-SIGNER* and an INCREASED SECURITY DEPOSIT** will be required if Applicant passes the CRIMINAL Criteria, but only meets one (1) of the other four Criteria categories. Any of the four failed Criteria cannot be such that denial is a direct result (see below).

* If a Cosigner is required, the Cosigner must be approved through the same screening process and fees. The Cosigner must fully meet all Criteria except for the Landlord reference. An original signed Co-Signer Agreement is required prior to occupancy.

** Requirement for an increased security deposit is $300 above the originally quoted security deposit amount.

APPLICATION WILL BE DENIED FOR ANY ONE OF THE FOLLOWING:

  • Any unresolved, unpaid collections over the amount of $200
  • Any negative Landlord reference, including more than three late payments, or NSF checks, any documented noise complaints, any funds owing over $100, and/or any indication from a Landlord that he or she would not re-rent to the Applicant for any valid and/or non-discriminatory reason.
  • Any F.E.D. (eviction) judgment in favor of the landlord.
  • Failure to meet all five of the Criteria categories.
  • Any information provided that is incomplete, inaccurate, or falsified 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 abuser, or addicted to an illegal substance, or has been convicted by any court of competent jurisdiction of the illegal manufacture or distribution of illegal drugs.
  • Any Applicant whose tenancy would constitute a direct threat to the health, safety or peace and relaxation of other individuals, or whose tenancy would result in substantial physical damage to the property of others.
  • A conviction, guilty plea or no contest plea for the following shall be grounds for denial of the Rental Application:
    1. Any felony involving serious injury, kidnapping, death, arson, rape, sex crimes and/or child sex crimes, extensive property damage or drug-related offenses (sale, manufacture, delivery or possession with intent to sell), Class A felony burglary or Class A felony robbery;
    2. Any other felony, or any misdemeanor or gross misdemeanor involving: assault, intimidation, sex crimes, drug-related offenses (sale, manufacture, delivery or possession), property damage, or weapons charges where the date of disposition, release, or parole have occurred within the last seven (7) years; or
    3. Any Class B or C misdemeanor in the above categories or those involving criminal trespass 1, theft, dishonesty, prostitution where the date of disposition, release, or parole have occurred within the last three (3) years

      Pending charges for any of the above will result in a suspension of the application process until the charges are resolved. No unit will be held awaiting resolution of pending charges.



© 1992 - 2007, KBC Management, Inc.