We are very excited you chose us! Steps to becoming a future resident with Asden Properties:
l. Select your rental unit.
2. To apply, applicants must have a combined income of at least three (3) times the amount of monthly rent.
3. Complete the application on the designated form or online.
4. Pay your non-refundable credit/screening fee of $49.00 per each adult (18 years or older) applicant and $100.00 administration fee per unit.
5. Be prepared to wait 1-2 business day(s) for the information on your application to be verified.
6. Additional Fees may be required as explained in our Criteria below.
l. Gross monthly household income must equal three times (3) the stated monthly rent. If monthly income does not equal three (3) times the stated monthly rent, a qualified co-signer will be required and/or an additional security deposit equal to a full month's rent may be required.
2. Last four (4) current paycheck stubs from your employer will be required. Verifiable income or liquid assets equal to three (3) times the total annual rent will be required for unemployed applicants. (Verifiable income may mean, but is not limited to bank accounts, alimony/child support, trust accounts, social security, unemployment, welfare, grants/loans.) Self-employed applicants will be required to show proof of income through copies of the previous tax return. Self-employed applicants will be verified through state records. A recorded business name or corporate filing may be sufficient to meet verification of employment.
3. The application will be denied if the legal source of income cannot be verified.
l. First-time renters that have no rental history but meet our income qualifications will be given an opportunity to rent with us for a Risk Management Fee.
2. Applicants with a negative rental history that is older than 36 months will have the opportunity to be approved with a Risk Management Fee. However, only one (1) landlord debt will be accepted. This landlord debt must be OVER three (3) years old.
3. An applicant with a previous landlord debt to a property older than 36 months, must first pay at least 50% of the balance due to that property before approval can be granted. A Risk Management Fee will also be charged, along with the security deposit.
l. A third-party screening service evaluates applicant credit history.
2. Applicant's credit history will be reviewed for late payments, charge-offs, unpaid collections, bankruptcies, judgments, negative rental history, and eviction records. Applicants with a credit score of 500- 550 will have the opportunity to rent with paying a Risk Management Fee. Applicants with a credit score below 500 will be denied.
3. An applicant with a discharged bankruptcy, older than 12 months, may be approved with a Risk Management Fee.
A criminal background check is conducted for each applicant. The application(s) will be denied if an applicant has an existing criminal record or charge pending for drug-related crimes, prostitution, firearms or crimes against person or property, including any felony or misdemeanor conviction, or adjudicated verdict. An application will be denied if an applicant meets any of the following conditions:
a) Felony convictions within the past (10) years) Any pending felony or drug charges
c) Deferred adjudication for a felony within the past (10) years
d) Conviction of the sale, possession or manufacturing of controlled substance within the past 10 years.) A registered sex offender or any sex-related conviction
If an applicant receives an Approval with Conditions, an additional nonrefundable risk management fee will be charged in addition to the standard deposit for the unit rented.
An application will be denied if any of the following apply:
• No verifiable income or salary.
• Any falsification of application.
• Applicant currently in an open Bankruptcy that can have creditors added.
• Applicants who currently owe landlord debt or bad debt within the last 36 months.
• Non-U.S. citizens who do not provide the required U.S. INS documents.
- Applicant has been convicted of a felony that poses a threat to the apartment community.
- Applicants with a credit score below 500 will be denied
FEES AND DEPOSITS
• Application and administration fees may be paid by check, money order, cashier's check or through our online portal.
• All other move-in fees and deposits must be paid by money order or cashier's check. No cash will be accepted
• Maximum number of occupants per apartment is two (2) persons per bedroom.
• Co-signers are accepted when the applicant does not meet the rent to income ratio.
• Co-signers must complete an application for residency and be processed as a guarantor.
• Co-signer must have an income of 5 times the monthly rent.
• Co-signer must sign the Guaranty/Co-Signer Agreement.
• Co-signer must reside in the United States.
APPLICANTS WITHOUT A SOCIAL SECURITY NUMBER
• Required to submit INS documents for verification. Acceptable formsinclude1551, 1688, 166A, and
I-94. The document must be a minimum 6-month permission period when they apply.
• If the 1-94 is submitted, a valid passport and visa must also be submitted.
Proof of income - Acceptable sources included two recent paycheck stubs or six months of bank statements.
Students may also submit the 1-20 as an acceptable source of income verification.
We are an equal opportunity housing provider. We fully comply with the federal Fair Housing Act. We do not discriminate against any person because of race, color, religion, sex, handicap, familial status, or national origin. We also comply with all state and local fair housing laws.
Risk Management Fees
Credit Score: 500-550
1st Time Renters
Bad Landlord Debt over 36 Months
3 or more late
Payments in 12 Months
Applicant(s) understands and agrees to the terms by which this application will be processed. Applicant understands that any dispute with regards to the credit findings will be the responsibility of the applicant to address with the credit report agency.