Application Requirements

 

AGE:

Applicant(s) must be 18 years of age and screened individually.

INCOME:

Total monthly household income must be verifiable and at least the amount of three (3) times the monthly rent.  Total monthly household income for a guarantor must be verifiable and at least the amount of five (5) times the monthly rent.  Some units may have additional income restrictions relating to local area median income percentages. 

HOUSING:

Negative housing/rental history may be grounds for denial.

CRIMINAL:

A criminal/public history may be grounds for denial.

CREDIT:

A negative credit history may be grounds for denial. An additional security deposit may be required.  A credit report is used to determine an applicant's payment history. Items to consider when evaluating credit are: number of late payments to other creditors, number of accounts reported to a collection agency, current past due balances, public records, and credit score. Applicants with poor credit may be denied, approved with a co-signer, or approved with an increased security deposit.

OCCUPANCY:

The maximum number of occupants are as follows: Studio – 2 people, One Bedroom – 2 people, Two Bedroom – 4 people, Three Bedroom – 6 people


TERMS AND CONDITIONS

The Excelsior Group is a Fair Housing provider and does not discriminate based on any protected class category or status as may be defined by the law.

I/We authorize The Excelsior Group to do a complete investigation of all information provided within my application for residency. I/We have personally filled in and/or reviewed all information contained within the application. I/We understand failure to complete these documents completely and truthfully may result in a denial and The Excelsior Group shall be entitled to retain the deposit. This will also include the omission of any requested information.  A complete investigation may include any or all the following: Credit Report, Verification of Employment and Income, Criminal Record Search, Rental History References (including MPHA), and an Unlawful Detainer/Eviction Investigation. The source of the information may come from, but is not limited to: credit bureaus; banks and other depository institutions; current and former employers; federal or state records including State Employment Security Agency records, county and state criminal records as follows, or other sources as required.

It is understood that a photocopy, facsimile, or digital copy of this form will serve as authorization. I/We understand that I/We have a right to make a written request within 30 days to receive information pertaining to this report if I/We are not accepted based upon information contained in the report. I/We authorize The Excelsior Group to produce to the credit granter Federal and State records of employment and income history, including State Employment Agency records. This authorization is for this transaction only, and continues in effect for one (1) year unless limited by state law, in which case the authorization continues in effect for the maximum period, not to exceed one (1) year.  Management estimates an approximate turnaround time of 5 to 7 business days to complete rental applications.

The payment of a Deposit holds the apartment for the applicant subject only to the applicant successfully being screened and accepted for occupancy. By paying the Deposit and Administrative Fee, Applicant is asking Management to take the apartment off the market and lose the opportunity to market and/or rent the apartment to others. If applicant changes his or her mind about the apartment, or desires to cancel this application, the Deposit and Administrative fee will be applied as Liquidated Damages to Management’s loss of marketing time.  In the event the application is approved, the Deposit and Administrative Fee will be applied to the applicant's account; the Deposit will be applied to a security deposit or rent owed under the terms of the Lease and the Administrative Fee will become non-refundable.

The relationship between Management and Applicant is a business relationship.  A courteous and business-like attitude is required from both parties.  We reserve the right to refuse rental to anyone who is verbally abusive, swears, is disrespectful, makes threats, has been drinking, is argumentative, or in general displays an attitude at the time of the apartment showing and application process that causes Management to believe we would not have a positive business relationship.

I/We understand that if the application is approved with conditions, such as a requirement to pay an additional security deposit or proceed with a co-signer, I/we will receive notice of the acceptance with conditions and have two (2) business days to notify Management if the application will proceed or be cancelled.  If timely notice of cancellation is given, the prelease deposit will be refunded as provided herein.  If the additional conditions are accepted, and subsequently fail to meet the conditions or proceed to sign a Lease and move into the unit held, the deposit will be retained as liquidated damages for holding the unit off the market.  The same conditions will apply if I/we fail to respond to Management regarding the conditions.

The Deposit and Administrative fee will also be retained by Management, and not refunded, if (1) the Rental Application is not accepted because it contains false or misleading information or (2) applicant(s) sign the lease but fail to fulfill the terms of the lease.  The Deposit and Administrative Fee will be returned to the applicant by mail within fourteen (14) days of the Management rejecting the Rental Application for reasons other than Applicant supplying false or misleading information.  Additionally, I/we understand that the Application Fee is nonrefundable.  This fee is applied to the costs of resident screening and the use of the resident screening service.

I/We understand that we will be required to provide a photo ID (state or federal) prior to moving into the community.