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| JVM Realty - Old Orchard Statement of Rental Policy REVISED April 20, 2007 |
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It is the policy of JVM Realty to offer Apartments for rental to the general public without regard to race, color, national origin, religion, familial status, or handicap. In order to assist you with your decision on your new home, we are providing a list of guidelines used to qualify prospective residents of this community. Please note that these are our current rental criteria; nothing contained in these requirements shall constitute a guarantee or representation by the Apartments that all residents and occupants currently residing at this community have met these requirements. There may be residents and occupants that have resided at this community prior to these requirements going into effect; additionally, our ability to verify whether these requirements have been met is limited to the information we receive from Resident Data and other third party sources. Please review this information before filling out an application. |
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| AVAILABILITY: | Based on the availability of specific apartments. |
| RENTAL APPLICATIONS: | To be completed by all applicants or co-signers over the age of 18. An application fee is paid for each. Non US citizen applicants must provide a current passport, INS identification card or work/student visa verification, permanent resident card, temporary resident form, employment authorization card, or arrival/departure record. |
| OCCUPANCY: | Maximum of two persons in a one-bedroom apartment. Maximum of four persons in a two-bedroom apartment. |
| PETS: | Cats and dogs, deemed not aggressive by local veterinarians will be accepted with registration and approval by management, in specific buildings (limit 1 dog OR 2 cats). For cats or a dog to be registered there must be a pet lease. Dogs can not exceed 50 lbs. full grown. Fish tanks up to 20 gallons and caged birds will be accepted if registered and approved by the management. No other pets will be allowed. Violations of this policy will result in fines as outlined in the lease contract. |
| CREDIT BUREAU: | No established credit will be considered satisfactory, with an additional $100 deposit. Applicants must not have bankruptcies in the last 12 months. If an eviction reflects in the last 36 months, the applicant will be automatically declined. Applicant must not have any outstanding debt to a previous landlord in the past 36 months. Applicant must have less than three credit accounts rated nine or higher within the last 24 months. Applicant must have no possible landlord collections in the past 36 months or utility collections in the last 84 months. When management notifies the applicant of debts that need to be satisfied, the applicant has 24 hours to make arrangements or the apartment reserved will go back on the market. Applicant must have a positive check verification rating or pay with certified funds. |
| CRIMINAL OFFENSES: | A criminal background check will be performed on all occupants aged 18 and over. Applications will be rejected for any felonies. Any convictions involving sexual crimes, weapons charges, crimes against persons or crimes related to the sale or manufacture of a controlled substance, deferred adjudication and/or pending charges for any such offense or probation for a felony will be declined. |
| INCOME: | Monthly rent shall not exceed 40% of combined gross monthly credit adjusted income of all residents. Average FICO score is 550. All income must be verified by the last two paycheck stubs showing year to date earnings and social security number. Scholarships, study subsidies and/or inconsistent income such as alimony, commissions, or tips will require written verification. Self-employed applicants must provide the previous year's tax return. Unemployed applicants must provide documentation in the form of a bank statement, IRA, or trust fund reflecting a balance equal to 12 times the amount of rent. |
| EMPLOYMENT: | Must have verifiable employment in writing, last 2 paychecks stubs or have I-20 verification. |
| RENTAL HISTORY: | Present and previous residence of at least 12 months out of the last 15 months must have a payment record reflecting no more than four lates or NSFs within a twelve month period. Sufficient notice must have been given. If 12 months of verifiable history is not available, an additional deposit of $200 will be required. |
| CO-SIGNERS: | Due to lack of applicant's credit history or insufficient income not to exceed 40% of the monthly credit adjusted rent; a lease guarantor may be allowed at the manager's direction. The co-signor must complete a lease guarantor addendum and meet the qualification requirements of these guidelines. Guarantor's income must be equal to or greater than 25% of the sum of the rent plus the guarantor's current rental obligations and/or mortgages. |
 Click here to download the Rental Policy PDFPlease download, print and sign this document. |
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