RENTAL APPLICATION EVALUATION GUIDELINES:

• All applicants must be at least eighteen (18) years of age. All persons over 18 years of age will be required to complete a rental application, pay a non-refundable application fee of $60.00, and must be listed on the lease contract as a leaseholder, even if living with parent or guardian.
• Applicants must have a verifiable mortgage or current 12-month rental history with sufficient notice to vacate given to current landlord. Applicant may not have more than two (2) late payments and/or NSF checks in 12 months of residency. Rental from relatives or friends is not considered established rental history; unless canceled checks for each month of rental are provided. Any applicant with an unpaid housing debt (including foreclosures) or a prior eviction will be denied. Personal bankruptcies will be allowed if applicant meets all other qualifications and has re-established at least two (2) positive credit references in the past 12 months.
• Applicant must have verifiable current local employment with a gross monthly income of at least three (3) times the market rental rate. The applicant must be currently employed. Housing allowances, workers compensation and unemployment payments are not considered monthly income. If applicant has been on the current job less than 12 months, then verification of 12 months or more at the previous job is required. Two (2) of the most current pay stubs will be required to verify the monthly income. Self-employed applicants must provide a personal tax return from the previous year or the three most recent personal bank statements. Transfers on-site will be allowed only after resident has fulfilled a minimum lease term of six (6) months. Transfers will be subject to a relet fee of $400.00, new deposits, and must repay any used concessions.
• Roommates must have a combined gross monthly income of at least three (3) times the market rental rate. Full time students may have a co-signer in lieu of the income requirement. Student loans are not considered income unless specifically stated for housing. All roommates must fill out an application, pay an application fee, must be listed on the lease and have full liability to fulfill all terms and conditions of the lease.
• Application fees and deposits must be paid in full before the approval process is started. The application fee and deposit must be paid in two (2) separate checks or money orders. If the application is not approved, then the deposit will be refunded within thirty (30) days of notification, unless the application contains falsified information, in which case the application deposit is forfeited and it is non-refundable.
• A Guarantor will be accepted for full-time students (enrolled minimum of 12 hours) and for persons with no prior rental and/or credit history. Guarantors must fill out a rental application, pay an application fee, sign a Lease Contract Guaranty, and meet credit requirements. Guarantor’s income must be qualified by being three and a half (3.5) times greater than the applicant’s rental rate. If no rental history is established, applicant(s) must have one of the following: (A) Good verifiable credit with no accounts reported being delinquent, charged to collection or charged off in the past two (2) years, or (B) Guarantor who meets rental requirements and qualifications as previously stated herein.
• A Co-signer/Guarantor may not be used for an unfavorable credit history/rating ~ only lack of credit.
• Applicant agrees to permit a criminal investigation. Applicant must exhibit no crimes involving injury to persons, violence, firearms, weapons, drugs and sexual offenses or any crime involving a minor, currently serving deferred adjudication, probation, convicted, or case pending.
• Everyone who views an apartment must have a current and valid government issued picture ID, with the exception of employees, relatives of employees, owners or investors.
• Gas & Electric must be in resident’s name and verified at time of move-in in order for Legacy at Fox Valley to release keys. .
• Boats, jet skis, trailers, panel trucks and other recreational vehicles are not allowed on property unless prior written consent from management has been obtained. Applicants will be allowed two (2) parking spaces per apartment. Parking is on a first come, first serve basis. There is no assigned parking at this time. Improper parking will result in towing without advance warning.
• Pets are limited by size and breed. Pit Bull Terriers and Rottweilers or mixtures of these breeds are not allowed. At full growth, pets may not exceed 80 pounds. There is a limit of two (2) pets per apartment. A non-refundable pet fee of $400.00 for one (1) pet or $600.00 for two (2) pets will apply. The following monthly pet rent will also apply: One(1) pet $20.00/Two(2)Pets $40. Dogs are restricted to certain buildings as determined by management. Cats are allowed throughout the entire community. Reptiles and exotic pets are not allowed.
• Standard lease terms are 12 months. A short term fee will apply for any lease terms less than 12 months.
• Occupancy standards: maximum does not exceed two (2) persons per bedroom.
• A $200.00 security deposit is required at time of application. Based on credit report, we may require up to two (2) month’s rental deposit.
• A 60-day written notice is required prior to vacating said apartment.
• A $35.00 fee is charged for mortgage verification information to be released.
• Allied Resident Check evaluates the above information with a scoring method that weighs the indicators of future rent payment performance.

I understand and accept these qualifying standards. Further, I understand that falsification of rental application information will result in denial of rental. Michelson Realty’s rental policies are guidelines, which enable us to accept as prospective residents those individuals who are creditworthy and do not have a certain criminal background. This rental policy does not insure that all individuals residing on or visiting the property conform to these guidelines.