​Management shall have the right to consider whether the household has the financial ability to pay the monthly rent of the unit. Management will consider different sources of income when determining whether an applicant is eligible. The household’s verified monthly gross income must total no less than 2.5x the selected unit’s market rent. A guarantee of lease may be used in the event an applicant’s income does not meet the required 2.5:1 ratio. Guarantors must have a verified monthly income no less than 5x the selected unit’s market rent. Guarantor is subject to credit approval.
• Current employment or job offer used to meet the income criteria will be verified, including salary amount and start date.
• Each applicant must provide 60 days of current paycheck stub(s); self-employed individuals must provide copies of tax returns and bank statements, which will be used to verify both income level and consistency of that income over the past six months.
• Full amounts of social security and disability income can be used to qualify.
• If an individual fails to meet the income requirement but has at least 12 times the monthly rent in cash (or a cash equivalent) in a savings account/liquid asset, then the income requirement is considered to be met with proper proof.