Qualifying Criteria for Sierra Village Apartments
The following are the qualification criteria for approval of your future home:
APPLICATION: Each occupant 18 years of age and older must complete an application. Be sure to complete all areas, including landlord and employer phone numbers, email, fax numbers, cities, states, and zip codes. A $40 non-refundable application fee will be assessed for all applicants. A reservation holding deposit of S300.00 is required and is non-refundable.
INCOME: Gross monthly income of combined applicants must be at least 2.5 times the rent of the apartment. All proof of income must be legal and verifiable. Acceptable documents include:
• One month’s current pay stubs showing tax deductions and year-to-date earnings.
• Self-Employed – tax returns and bank statements.
• Statements from government payments i.e., disability or social security.
• Court Orders for child or spousal support.
• Statements of income from investments or trust funds.
SAVINGS: In the event an applicant does not have income, savings may be verified with three months of consecutive statements with an average balance totaling three times the annual rent. Savings/checking account statements may be counted.
CREDIT/RESIDENCY HISTORY: The minimum credit score MUST be at least 600. Applicant’s rental history will be reviewed for late payments, charge offs, collections, bankruptcies, judgments, and eviction records. Additionally, favorable residency history is required.
• A third-party screening service will provide applicants credit history.
• Evictions or debt to property management will result in an automatic denial.
• If applicable, additional security deposit may be required for credit or residency issues.
• Two years of positive rental payment history is required.
GUARANTORS: An applicant can obtain a guarantor if the income ratio is not met.
• Guarantors must complete an application.
• Guarantors must have superior credit.
• Guarantors must qualify showing income of 5 times the monthly rent, or three consecutive savings statements of 5 times the annual rent.
• Guarantors must sign the guarantor addendum prior to move in.
• Guarantors must reside in the United States.
IDENTIFICATION: All applicants must show current valid government-issued photo identification before move in.
OCCUPANCY: Maximum number of persons per apartment is as follows:
• Studio max is two people.
• One-bedroom max is three people.
• Two-bedroom max is five people.
Thank you for applying at Sierra Village Apartments. To ensure prompt processing of your application, documentation must be submitted to the leasing office within 24 hours of your reservation.