Tenant Screening Policy
We believe that we have one of the most thorough screening processes in the industry. The screening company which we use has been in business for over 10 years and the company owner has over 22 years of experience in the industry. They have done work with multiple government contracts and pride themselves in quick turnaround time while providing detailed and thorough results.
As identify theft is on the rise, we do require that all applicants provide us with a copy of his/her photo ID, which is also sent to the screening company in compliance with the new "Red Flag" Rules.
RENTAL HISTORY: The applicant(s) current and former addresses must be provided, along with the Landlord's names and phone numbers, if applicable. These landlords will be contacted to verify residency and also verify payment history, lease term, condition of unit(s), whether the applicant had any pets, and also whether the tenant received their security deposit back once vacating.
INCOME REQUIREMENTS: We do require that the income be a minimum of three (3) times the monthly rent of the applicant(s) gross monthly income. We require a copy of recent pay stubs/earnings statements prior to approving any application. Income must be obtained from a permanent position or reliable and verifiable guaranteed source. Income must be considered legal by Federal, State and Local laws. Income from other sources, such as Social Security, Welfare, Child Support, will be considered.
EMPLOYMENT: We verify the applicant(s) current and previous employments, along with the length of employment and the rate of pay. The employer's names and phone numbers must be provided on the rental application. The employer must have a licensed business or file income tax with government agencies. Employment must be verifiable for a one year period. Income must be verifiable through employer contract, current paycheck stubs, or tax records. Employment through school doctorate studies, Federal, military, State grants, and interns will be considered. If the applicant is self-employed, we require copy of last year's Tax Return including the Schedule C form and a current Income Statement or Quarterly Tax Return with the rental application.
CREDIT REQUIREMENTS: A credit report will be run on all persons 18 years of age or older. Current and previous credit will be evaluated. The applicant must authorize a credit & criminal report.
· Any recorded unlawful detainer (eviction) action, unpaid collection, unpaid rental judgments, or negative rental trade accounts on the credit bureau report may result in denial.
· Any past negative credit accounts on the credit bureau report will be reviewed and evaluated and taken into consideration with the applicant's current economic situation.
· Any open bankruptcy will result in denial.
PUBLIC/CRIMINAL RECORD SEARCH: An in-depth search is done for any public records or criminal history which the applicant(s) may have. The screening company has the ability to connect directly to most states court systems and has the ability to view any convictions as soon as they are entered into the court's system. They do not use a database which some other screening companies utilize, which could be months, or even years old.
INABILITY TO MEET ANY OF THE ABOVE CRITERIA MAY RESULT IN THE FOLLOWING:
· Denial of application for tenancy.
· Approval of application with the last month rent paid in advance, increased security deposit, requirement
for a co-signer, or all of the above stipulations.
POLICY REGARDING CO-SIGNERS:
· Co-signers may be considered in the instance of no credit history, no rental history, or lack of verifiable rental history.
· Any applicant with less than 12 months of verifiable rental history and/or less than 12 months of verifiable employment history may be required to have a qualified co-signer.
· Co-signers must, at the minimum, have an income level that is 5 times the rent, pay the appropriate application fee, fill out an application form, and have no negative credit history or criminal record.
· Co-signers must reside in the State of Washington.
· No landlord is required to consider a co-signer.
FINAL DECISION: If the application(s) come back and everything looks great, we are going to contact the applicant as soon as possible to receive the security deposit and secure the rental for them. If there is anything less than perfect, you will be contacted and given a summary of the application results. Due to privacy laws, we are unable to discuss specific items with you. However, you will be provided with enough information that you will be able to make a well informed decision of whether you would like to approve the application. As the property owner, you do have the option to approve the application, even if all of the criteria are not met.
We hope that this information has been useful for you and that we've been able to answer any questions which you may have about the screening process. If you have any questions, however, please feel free to contact us. We will be happy to answer any questions which you may have regarding the process.