The Parkway Rentals Qualifying Criteria

The Parkway Rentals provides rental housing to qualified residents without regards to race, color, sex, religion, familial status or origin. All housing provided within the guidelines established Human Rights laws regulating the multifamily housing industry.

Occupancy Policy

Studio=2 persons     1 Bedroom= 2 persons     2 Bedroom=4 persons

Application Process and General Requirements

• Monthly gross income must equal three times the monthly rent. If more than one applicant is applying the income will be combined.
• Any person residing in the apartment that is 18 years of age or older must apply.
• All applicants must provide proof of income.
• All applicants must pay a security deposit of $750.00.
• If screening results return with conditional credit results, the applicant may pay a security deposit equal to one month’s rent.
• Photo Identification must be verified by an on-site associate.
• A complete rental application must be completed prior to moving in.

Rental History & Denied Applicants

• Any monies owed to a previous landlord will result in denial.
• Any monies owed to a utility company could result in a denial.
• Any judgement or eviction process against any applicant would also result in a denial.

Income Requirements

Verifiable income includes:

• 30 days of current pay stubs showing year to date wages.
• If employed less than 30 days, a signed offer letter on business letter head is required, with hire date, position, and salary.
• If self-employed, most recent signed tax return.
• A written letter from a certified accountant on business letter head summarizing annual income.
• Bank statements showing an available balance equal to the required monthly income requirements over the length of the lease. (In Canadan Funds).
• Stock, Money market, or trust accounts verifying a liquefiable income. Applicants name must appear as account holder.
• Retirement pension account.
• Disability from a government issued agency.
• Proof of financial education assistance.
• Court ordered child support allocation.
• Court ordered alimony or palimony application.

Credit Requirements

• Favorable credit will be required.
• A credit report is requested for all applicants. This report is reviewing by weighing current accounts, delinquent accounts, collection accounts, bankruptcies, liens, judgments, public records, and any other outstanding balances.
• Any bankruptcy must be closed and discharged for a minim of six months and proof of discharge if required.
• Collections cannot exceed $3000.00.
• Resolving debt cannot exceed the rental requirement for a 1 year term for all applicants combined.

Other Policies

• Cosigner/Guarantors will be considered if recommendation is accepted.
• Cosigners/Guarantors will need to provide 4 times the rent in gross monthly income and good standing with credit ratings to be accepted.
• Conduct or other lease violations with prior or current management may result in denial of tenancy.

Earnest Money Terms

Earnest money is required to hold an apartment off the market after application approval. Applicants have up to 24 hours to decide to hold the apartment. The earnest money will become nonrefundable after 48 hours of being received. Full or partial refunds will not be offered. In the event screening requires an additional deposit beyond the standard advertised deposit, the applicant has 24 hours to cancel the application. The earnest money must be paid by completing a pre-authorization form with direct deposit details only.