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Rental Criteria

This document outlines rental criteria for Ascent at Papago Park, including requirements for renter's insurance, occupancy guidelines, income verification, credit and rental history checks, criminal background checks, and pet policies. Applicants must pay an application fee and may be required to pay an additional qualifying deposit depending on screening results.

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0% found this document useful (0 votes)
209 views2 pages

Rental Criteria

This document outlines rental criteria for Ascent at Papago Park, including requirements for renter's insurance, occupancy guidelines, income verification, credit and rental history checks, criminal background checks, and pet policies. Applicants must pay an application fee and may be required to pay an additional qualifying deposit depending on screening results.

Uploaded by

tkrising
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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12/5/2017 7:00 PM

Ascent at Papago Park Rental Criteria


Renter’s Insurance
Applicant is required to maintain renter’s insurance throughout the duration of the tenancy that includes:
 Coverage of at least $100,000 in personal liability (bodily injury and property damage) for each occurrence.
 The full address and apartment number must be listed as the location of resident insured.
 All leaseholders 18 years of age and older must be listed on the policy as insured.
 Applicant must provide proof of renter’s insurance to the leasing office prior to or on move-in date; otherwise move-in will
not be permitted.

(initial) It is required that your renter’s insurance covers Liability for Property Damage to your premises (interior unit) for
fire, smoke, explosion, and water damage, including water sewer back-up with no exclusions to non-owned property. These are
not necessarily standard coverages. In the event that your renter’s insurance does not cover the claim, you will be financially
responsible for any and all expenses.

Occupancy Guidelines (as applicable)


Studio & 1 BR: 3 occupants max; 2 BR: 5 occupants max; 3 BR: 7 occupants max.

Income: The combined monthly income for all applicants must be greater than three (3) times the monthly rent.

(initial) Applicant(s) must be in present position and provide 30 days’ worth of most recent paystubs prior to move-in.
Gross income on paystubs must match with gross income provided on Rental Application and meet the required income ratio above,
or application will be denied for falsification of information.

(initial) If newly employed, a letter must be provided on company letterhead and signed by an officer of the company that
states employment agreement, income, and date that employment will commence, which must be within 30 days of the lease start
date. Gross income listed on letter must match with gross income provided on Rental Application and meet the required income
ratio above, or application will be denied for falsification of information. For all sources of income other than employment,
additional documentation will be required and must meet the required income ratio above, or application will be denied for
falsification of information.

Credit History: Credit history is one of the most important elements to a qualifying applicant(s). An unsatisfactory credit history
can disqualify an applicant(s) from renting an apartment at the community. An unsatisfactory credit history is one that reflects past
or current bad debts, late payments or unpaid bills, liens, judgments or bankruptcies (new credit must have been established with a
clean record when reviewing bankruptcy). If an applicant(s) is rejected for poor credit history, the applicant(s) will be given the
name, address, and telephone number of the credit-reporting agency that provided the credit information, as required by the FCRA.
No credit information will be released from management. An applicant(s) rejected for unsatisfactory credit is encouraged to obtain a
copy of their credit report from the credit-reporting agency, correct any erroneous information that may be on the report, and
resubmit an application to this community.

Rental History: Reasons for denial may include a skip or eviction, balance owed to prior landlord, collections and/or breach of
lease.

Criminal History: A criminal background check will be conducted for each applicant(s). The criminal background is a search of a
National criminal database. An applicant may only be denied based upon an actual, documented criminal conviction. An arrest does
not qualify as a criminal conviction. Applicants may be denied for the following criminal convictions while serving deferred
adjudications or case pending, for FELONY or MISDEMEANOR convictions of a crime that occurred within seven (7) years from
the date of disposition, release, or parole:

 Sexual offenses
 Physical injury to other persons
 Crimes involving threats of violence or harm to other persons
 Crimes involving a weapon
 Illegal manufacture or distribution of drugs/controlled substances (this does NOT include convictions for mere possession
of drugs/controlled substances)
 Damage to property
 Theft of property

REV. 08/23/17 MGPG_RC


12/5/2017 7:00 PM

Pet Criteria:
 Pets are allowed on the premises only after an appointment with management to meet and photograph your animal. Your pet
will not be allowed on the premises if it belongs to or is mixed with any of the restricted breeds listed below.
 Puppies (pets under 1 year of age) will be permitted with an additional security deposit.
 Two (2) pet maximum per household (does not include birds and fish).

American Staffordshire Terriers Bull Terrier Breeds Rottweilers Akitas


Chow Chows Malamute Breeds Husky Breeds Pit Bulls
Bloodhound Breeds Dogues de Bordeaux Presa Canarios American Bulldogs
Doberman Pinschers German Shepherds Rhodesian Ridgebacks Wolf Breeds

You may be required to provide a statement from your veterinarian as to the breed of your animal. This list should not be
interpreted as all inclusive. Approval of questionable breeds will be at the discretion of management. Management reserves the
right to modify this list at any time without notice.

A. Holding Fee: $ (If fee is left blank, refer to the amount on your Deposit to Hold or the amount
charged online.)
B. Qualifying Deposit: An additional deposit may be required based upon results of application screening.

Should the approval require an additional qualifying deposit, we require this additional deposit to be paid 72 hours from the date of
notification. Should the applicant cancel the application, we may keep the holding fee as liquidated damages in accordance to the
application, but the additional qualifying deposit paid will be refunded.

Application Fee: A $ non-refundable application fee is required for each and all applicants.(If fee is left blank,
refer to the amount on your Deposit to Hold or the amount charged online.)

Anyone occupying the apartment 18 years of age or older must be listed as a Leaseholder and is required to execute the Lease
Agreement and meet all rental qualifications. Guarantors (community-specific allowable) will also be required to pay a non-
refundable application fee and must meet all rental qualifications.

Form of Payment: No cash accepted. Payment of application fees, non-refundable fees, deposits and any additional deposit
required must be made with cashier’s check or money order. For your convenience, payments can also be made online via debit
card, Visa, Discover, American Express, or MasterCard; a convenience fee may apply—at www.ascent.mgproperties.com.

Applicants who pay monies owed for application deposits, administrative fees, application fees and/or holding fees, understand and
agree that all criteria must be met as stated herein. Should the application be declined for any reason, a refund will be issued for the
holding fee only. If fee was paid by a credit card or debit card, any applicable refund will be refunded back to said card. All other
forms of holding fee payments will be refunded within an expedient timeframe but no later than allowable by the laws of your state.

Applicant(s) hereby consents to allow MG Properties Group, through its designated agents and employees, to obtain a consumer
report and criminal record information on each applicant and to obtain and verify each applicant’s credit and employment
information for the purpose of determining whether to lease an apartment to such applicant(s). Applicant(s) also agrees and
understands that the owner and its’ agents and employees may obtain additional consumer reports and criminal record reports on
each applicant(s) and/or occupant(s) in the future to update or review our account. Upon applicant(s) and/or occupant(s) request,
owner will tell applicant(s) and/or occupant(s) whether consumer reports or criminal record reports were requested and the names
and addresses of any consumer reporting agency that provided such reports. By signing below, you acknowledge your receipt of
this disclosure and you hereby consent to the above.

12/05/2017
______________________ ______________
Anthony Conley Date

______________________ ______________ ________________________________ ______________


Guarantor Signature Date Management/Agent for Owner Date

REV. 08/23/17 MGPG_RC

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