Resident Screening Criteria
It is our policy to conduct business in accordance with the Federal, State and local Fair Housing Laws. It is our policy to provide housing on an equal opportunity basis to all persons regardless of race, color, religion, sex, national origin, handicap or familial status.
Purpose of this Document
We offer the following information so that all applicants will have available to them a detailed statement of the rental qualifying policies. Although we have attempted to make this document easy to read and understandable, by its nature as a statement of policy, it includes formal language and legal terms. If you have any questions about our policies or about the information in this document, please contact any of our management team.
Important: The Rental Application Fee is Non-Refundable
The rental application fee of $50.00 is non-refundable. Because there are no exceptions, it is important that you review this document carefully before submitting a rental application, making certain that, to the best of your knowledge, you meet the rental qualifications stated.
How to Apply to Rent an Apartment
If you wish to apply for one of our apartments in Tuscaloosa, you must complete and sign an application, pay the non-refundable rental application fee and security deposit. Income, credit and rental history will be verified. If the apartment is unavailable or you cannot take occupancy and pay rent, you will be placed on a waiting list. You will be on a waiting list without a security deposit.
Applications
Applications are available by downloading from our website, by mail, or may be picked up at our office. All adults occupying an apartment must be tenants on the lease; and all occupants of any age must be listed on the rental application. Income verification, credit history for all applicants and rental history will be investigated and verified. False information provided on a rental application immediately disqualifies an application for approval.
Photo Identification
At the time of approval, you will need to show valid photo identification. This can be state or federally issued. Acceptable identification includes a driver’s license, passport, and/or state-issued photo identification card. The request for photo ID is solely for the purpose of verifying identification and no other purpose.
Income/Employment
Gross income must be three and a half (3-1/2) times the monthly rental rate. Applicants must provide proof of current employment. If you have changed employment within the past six (6) months, you must provide verifiable previous employment information. Salary must be verified with employer or by copies of three (3) months check stubs. If more than one income is to be considered, then the following applies: if there are two incomes, each must qualify to 70% of the rental rate; and if three (3) incomes, then each must qualify to 50% of the rental rate. All additional sources of income must also be verified. If you are self-employed or retired, you must provide proof of income by furnishing copies of federal income tax returns and/or other verifiable documentation acceptable to us. Applicants must be continuously employed for 12 months immediately preceding application in order to be considered.
Credit History
1. Applicants with established credit must have: a) Reported activity on at least two (2) installments or revolving accounts that have been opened for a minimum of six (6) months. b) Applicant must have a minimum of a 690 credit score.
2. There can be no judgments, tax liens, evictions, unpaid housing debt, or repossessions within a two (2) year period prior to application, unless paid, satisfied, or proof of satisfactory arrangements from the payment of same have been made.
3. There can be no bankruptcy within a 24 month (24) month period prior to application unless discharged. Credit must be reestablished to meet conditions set forth in Item #1 a.
4. Applicants with no established credit that meet the income criteria and the rental history criteria may be approved under some circumstances. With the exception of verifiable full time students with no prior credit history, applicants will be ineligible for the guarantor option.
An extensive, negative credit history is grounds for the denial of an application. In keeping with our policy of confidentiality and privacy, we do not discuss individual credit reports with an applicant. If you would like to discuss or dispute anything in your credit report, you will need to contact the credit bureau that made the report. At your request, we will provide you with the name and address of that credit bureau.
Mitigating Circumstances
At times, mitigating circumstances might allow an applicant that does not meet income or credit criteria to be approved. Poorly rated accounts with a zero balance, voluntary repossessions, and poorly rated accounts that are a result of a contested divorce are some examples of mitigating circumstances. Also, in some instances, if verifiable income is less than four (4) times the monthly rent rate, outstanding monthly obligations are minimal, and all other criteria are met, the applicant may be approved. A prepayment of the lease term or some portion thereof would be required. Approvals of these exceptions must be made by the managing partners of Yorktown Properties, L.L.P. A.
Rental History
Any negative rental history is grounds for the denial of an application. Negative rental history includes, but is not limited to, the following: NSF checks, late rental payments, noise complaints, unfulfilled lease term(s), eviction proceedings.
Vehicles
Only authorized vehicles are allowed and Lessee agrees that only vehicles listed on Lessee’s application are so authorized. Vehicle is defined as an automobile, pick up truck, or small van that is specifically for personal use. Large commercial trucks, tractor trailer trucks, mobile homes, recreational vehicles, boats, jet-skis, three/four wheel ATV’s, trailers and vehicles that have been altered such as “big wheels” and the like are not considered acceptable. With the exception of reserved parking for the handicapped, parking is not assigned or reserved except where there is a garbage area.
All vehicles of the Lessee, his guests, agents or invitees in the parking area shall be operable and shall bear a current license plate. Vehicles shall be parked only in the paved areas provided for parking. The lease contains more information concerning vehicles and the parking of vehicles.
Pets
For the comfort and safety of all our residents, there are restrictions regarding the type, size and number of pets that will be accepted on the property. You must be able to show proof that pets have received appropriate vaccinations. A non-refundable fee is required as well as a monthly rental charge for each pet. We reserve the right to reject any pet(s) and/or consent for housing a pet at any time. The lease contains more information concerning the Pet Policy.