Madison Sammamish | Qualifying Criteria and Application
Rental and Occupancy Criteria guidelines
Applications for residency will be evaluated using the following criteria:
Rental applications will be processed for all prospective applicants 18 years of age and older who will be the responsible leaseholder. (A non-refundable application fee must be paid for each occupant 18 years of age and older.)
 
 
SALARY AND INCOME
  • All residents must show proof of legal and verifiable income.
  • If employed, applicant must provide their two most recent pay stubs, and the employer will be contacted to verify employment.
  • All other sources of income must be verified.  These sources and verification could include, but are not limited to, tax returns, bank statements, 1099’s, proof of government payments, proof of investment or trust fund income, student loan or grant award documents, Court Orders for child or spousal support, etc.
  • Gross monthly income of combined applicants must be 3 times the scheduled rent of the apartment being leased.
  • Roommate applications must be processed simultaneously.
 

CREDIT HISTORY

  • Applicant credit history is evaluated by a third-party screening service, RealPage Inc.
  • Applicant’s credit history will be reviewed for late payments, charge-offs, unpaid collections, bankruptcies, judgments and eviction records.  Applicant’s credit score will be derived from this review.
  • Applicants with a RealPage Inc. Screening score of 700 to 1000 will be approved upon satisfactory proof of income and rental history.
 
RENTAL HISTORY
  • Current address on application must match credit report address
 

CRIMINAL HISTORY

  • A criminal background check will be run for each applicant.
 

CONDITIONAL APPLICATIONS

  • If an applicant receives an OneSite Screening score of 501 – 699, an additional deposit equal to one month’s rent will be required in addition to the standard deposit for the unit rented.
 
DECLINED APPLICATIONS (If any of the following apply, the application will be declined):
  • No verifiable income or salary.
  • Falsification of application.
  • OneSite Screening credit score resulting in a decline.
  • Non-U.S. citizens who do not provide the required current/valid government-issued photo identification.
  • A criminal record that poses a threat to the apartment community will result in an automatic denial.
 

SECURITY DEPOSIT REQUIREMENTS

  • A security deposit is required to be paid in full prior to moving in.  If applicant is not approved, a check for the full deposit amount (not including application fees) will be mailed within twenty-one (21) days of notification.
  • If after seventy-two (72) hours you or any co-applicants withdraw an application, we will retain all application deposits as liquidated damages, and the parties will then have no further obligation to each other.
  • Application fees may be paid by check, money order, cashier’s check or credit card.
  • All move-in rent and deposits must be paid by money order or cashier’s check.  No cash will be accepted.  If the bank returns the application fee, the application will automatically be declined.
 

OCCUPANCY

  • Maximum number of persons per apartment: 2 persons per bedroom plus 1.  Example: 1 bedroom limit is 3 people, 2 bedroom limit is 5 people, 3 bedroom limit is 7 people.  In the event an adoption or birth of a child occurs causing the occupants to exceed the maximum number permitted per bedroom, residents will have until the expiration of the lease term to transfer to the appropriate apartment to comply with occupancy limits.
 
GUARANTOR
  • Guarantors are accepted when:
The rent to income ratio is not met by the applicant, or
Applicant does not have a credit history.
  • Guarantors must complete an application for residency and be processed through OneSite Screening as a guarantor with a score of 700 – 1000.
  • Guarantor must have income of 5 times the monthly rent.
  • Guarantor must sign the Guaranty of Lease Agreement.
·      Guarantor must reside in the United States.
 

APPLICANTS WITHOUT A SOCIAL SECURITY NUMBER

  • All applicants must show current/valid government-issued photo identification before move in.
  •  Proof of income – Acceptable sources included two recent paycheck stubs or six months of bank statements.  Students may also submit the I-20 as an acceptable source of income verification.
  • Applicants without a social security number will be required to pay an additional security deposit.
 

INSURANCE

  • Residents will be required to provide proof of personal liability insurance with limits of no less than $100,000 per occurrence and covering the apartment rented by the resident.
 

COMPREHENSIVE REUSABLE TENANT SCREENING REPORTS

  • We do not accept Comprehensive Reusable Tenant Screening Reports (CRTSR)