In order for us to begin processing your application, we must have the following:
- Please fill out the application completely. Be sure to provide your social security number and sign all required areas.
- Application Fee: $50.00 per applicant over the age of 18. This fee can be paid by money order or certified check made to Drexelbrook Holdings LLC or by submitting a credit card payment at the end of this application. This fee is non-refundable.
- Proof of employment: We will verify with your employer that your employment status is current, how long you have been employed, and the yearly/monthly, hourly income. Please see below for “acceptable proof of income”
- Credit and Background Check: All applicants will be screened by our 3rd party provider and must have a minimum FICO score of 650.
- Co-Signers: Co-signers are accepted and are equally responsible for the terms of the lease and must have net income 4 times total apartment costs. Co-Signers are only accepted for income purposes, not for background or unsatisfactory credit. Co-Signers must reside in the tristate area.
- Security Deposit: Equal to one month’s market rent. Applications can be approved with first month’s rent, last month’s rent, and security deposit based on credit and income.
- Pet Fee: Cats only, maximum of two cats per apartment are permitted. The resident must place a $200.00 non-refundable fee and pay $25.00 a month per pet. Dogs are not permitted.
Thank you for choosing Drexelbrook Residential Community.
We look forward to finding your new home.
ACCEPTABLE PROOF OF INCOME
Please provide the following items, as applicable to your situation:
○ Currently Employed Applicants …
□ With paystubs
Δ your three (3) most recent paystubs are required
◊ paystubs must show all deductions (or a Full Tax Return will be required)
◊ If a Full Tax Return is required, applicant must have same job as they did in the prior year
□ Or, with an Offer Letter
Δ only acceptable if starting a new job and paystubs are not yet available
Δ Offer Letter must clearly reflect: Employer Name, Employee Name, Start Date, Gross Salary / Payment
Δ employment will be independently verified
Δ paystubs will be required once they are available
◊ lease may be voided if paystubs do not support information provided with Application or Offer Letter
○ International Residents …
□ An I‐20 Form; and
□ One of the following:
Δ a Visa, or
Δ a Working Visa, or
Δ a Working Social Security Number
○ Self‐Employed Applicants …
□ Two (2) most recent years' Full Tax Returns, and
□ All related 1099's are required
○ Retired Applicants …
□ Any of the following:
Δ 401(k) statements,
Δ Trust statements,
Δ Annuity statements,
Δ Social Security statements
□ And the three (3) most recent monthly Bank Statements are required to support income, but may not be used alone
□ And the most recent year's Full Tax Return
○ Student Applicants …
□ A statement clearly showing amount of support to be used for housing, and
□ indicating the amount of time that that support will last, and
□ indicating a breakdown of all costs: tuition, housing, dependent support, etc
○ Applicants with Co‐signers …
□ Co‐signer income requirement is:
Δ Net Disposable Income of at least Four Times (4x) the sum of: the monthly rent plus (+) monthly utility costs
◊ Net Disposable Income = Net income minus (‐) contractual obligations (credit card, mortgage, loan payments)
◊ Monthly rent & utility costs are not included as contractual obligations in calculating Net Disposable Income
Δ Two (2) years of income tax returns