RENTAL CRITERIA AND APPLICATION DISCLOSURE

 The following information will be accessed as part of the screening of any applications for tenancy:

-       All information on your Application for Tenancy

-       Your rental history via any identifiable prior Landlords

-       Income to rent ratio of 3:1

-       Public records for the past 5 years regarding criminal conviction history or registration as a sex offender

-       Eviction records. No evictions from the past 5 years.

-       Personal references

-       Verification of employment and/or income (or rental subsidy) amounts. You must provide documentation for all sources of income.

-       Public records regarding civil court records.

-       Any other information provided by the applicant (such as anticipated length of tenancy, tenancy commencement date, etc.)

-       Any offers or proposals you may choose to make to us (additional rent or deposit funds, extended lease term, etc)

-       Credit reports via a third party Consumer Reporting Agency with a minimum score of 700.

-       Your credit screening will be completed by MyScreeningReport.com. In the event of denial of tenancy or other adverse action, you have the right to dispute the accuracy in the consumer report and to request a free copy from Moco, Inc., PO Box 2826, Seattle, WA 98111 

Phone: 877-701-0044     Fax: 877-701-0045

-        

General Information:

-       Positive ID for all adult (over 18 years of age or emancipated minor) occupants. (Failure to provide ID results in denial of the application).

-       Fully completed application, without material omissions, for every occupant (over 18 years of age or emancipated minor), with no material misstatements or omissions.

-       Demonstration of ability to pay deposit and rent requirements prior to occupancy (inability to pay the first month rent results in denial of the application – see income/credit requirements).

-        Applications will not be reviewed until received in full. Groups of more than one applicant will not be considered until the applications from all members of the group are received.

Income/Credit Requirements:

   -   Income to rent ratio of 3:1 General rule is that income from the applicants intending to sign the lease must (collectively) equal or exceed  $12,000/month. You may include alternative sources of income as defined in SMC 14.08. Except in the cases of rental housing subsidies falling within SMC 14.08.040 (F), income that does not meet this threshold results in denial of the application.

Proof of adequate income (or reserves) to verify ability to pay rent on time throughout the lease term (select one or more)

           .  Verification of employment and salary/wage

            .   Recent paystubs from verifiable employer

            .   Tax return copies for self-employed applicants

            .   Proof of regular investment earnings, social security, or other forms of government rental supplement.

            .   Any additional sources of income that applicant wishes to disclose (i.e. child or spousal support, trust income, financial reserves, etc.) and which are verifiable.

            .   Any rental subsidies which you wish us to consider.

NOTE: Exceptions to minimum income requirements are applicable for Section 8/subsidized applicants as provided in SMC 14.08.040(F)

-       Favorable credit history – A minimum credit score of 700 is required, report must be free of negative credit issues which may indicate that the applicant has a pattern of failure to timely pay financial obligations.  Any credit records shown on a credit report as delinquent, charged off or unpaid are grounds for denial of tenancy.  Any open bankruptcy case(s) are grounds for denial of tenancy.

Rental History:

-       Your prior rental history and favorable references from a minimum of your last two landlords (i.e. timely rent payment, no damage in excess of normal wear or tear, no documented rules violations, timely issuance of notices of intent to vacate and compliance therewith).  Any negative history from a prior landlord is grounds for denial of tenancy.

-       For applicants without prior rental history, adequate personal references for equivalent to two favorable past landlord references.  Absence of such references will result in denial of the application.

-       If your former landlord(s) do not respond to request for information within 48 hours of being contacted, that will result in the denial of the application due to unavailability of verifiable favorable rental history.

Additional Grounds for Denial of Applications (based upon court records, or references):

-       Reasonable likelihood that a past history of abuse of alcohol may or will interfere with the health, safety or right of peaceful enjoyment by other members of the community.

-       Reasonable likelihood that a past history of use of illegal drugs (or unauthorized use of legal drugs) may or will interfere with the health, safety or right of peaceful enjoyment by other members of the community.

-       History of criminal activity on the part of any proposed occupant which presents a danger to persons or property, or the peace and enjoyment of other residents or members of the community could negatively impact your application. When evaluating any past criminal convictions we consider the nature (whether it indicates a potential risk to persons or property or shows incident(s) of identity theft) and severity of the crime, and the amount of time that has passed since the criminal conduct occurred. If you have any mitigating factors you wish us to consider, please bring them to our attention.

-       Reasonable likelihood that a past history of applicant or those acting under his or her control will interfere with the health, safety or right of peaceful enjoyment by neighbors or other members of the community.

-       Reasonable likelihood that a past history of applicant or those acting under is his or her control will cause damage or destruction to the dwelling unit or surrounding property.

-       Reasonable likelihood based on rental and personal history that the applicant may cause damage to the property, or become a nuisance to neighbors or the community.

-       due to unavailability of the Property. Even very well qualified applicants may be denied if another application for the property has already been approved. Please note that, while equivalent applications after processed in the order received, such other factors as the requested date of the commencement of tenancy, or an applicant offering a higher rent amount may result in priority of another application.

-       NOTE:  In case of multiple applicants intending to share the property together, disapproval of one applicant terminates the application unless the non disapproved applicant’s’ elect to resubmit without the disapproved applicant.

-       NOTE: Applicants are pre-reviewed in the order in which completed applications are received. If applying as part of a group of residents planning to live together, the application is not complete until all residents’ applications and credit reports have been received. After preliminary screening, applications that do not appear to meet our Rental Criteria will be notified. Applications which appear to meet our Rental Criteria will be screened based upon the order received, excluding those applications which do not meet those Rental Criteria.

Specific Information for Subject Property:

-       No smoking

-       Only cats allowed with landlord approval and pet deposit.

-       12 month lease

-       Rental insurance strongly suggested, landlord’s insurance does not cover tenant’s possessions or damage tenants create on property.

-       Maximum occupants:  4

-       Last month’s rent is required.  With a signed one year lease, last month’s rent may be paid in six equal payments, along with the rent due for each month, over the first six months of the lease.

To apply for tenancy:

1.    You must first have a tour of the interior and exterior of the building. Applications are not accepted unless all applicants have viewed the property.

2.    Complete the application, and application for comprehensive credit report. If you require additional time or assistance to complete an application due to limited English proficiency or disability, please contact us and describe the reasons why you need additional time and any proof of need you wish us to consider. The date and time your request for additional time is received by us will be treated as the date and time of the submission of your application.

3.    Send a confirming email to the owner so we know to look for your application. Include with the email a photograph of your government issued ID. An application without the proof of identity is not complete.

4.    Watch your email for any request for additional information. You must respond to any additional information request in 72 hours.

5.    Each applicant over 18 years of age must submit a separate application. In the case of a group of occupants, the application will not be considered to be complete until all members of the group have submitted their application.

6.    If you are approved for tenancy, you must accept the offer in writing and pay a holding deposit of $500.00 by cash or certified check or money order within 24 hours of the time we notify you. If you wish to accept tenancy you must agree to the occupancy and rent commencement date set forth in the offer you receive. If you do not accept all terms of any offer of tenancy which is made within 48 hours, we will proceed to the next applicant (if any).