Screening Criteria

Laura's Investments, LLC & SMB Housing, LLC Applicant Screening Criteria

Laura's Investments LLC, strives to maintain high quality communities for all our residents. Therefore, we have a thorough screening process to ensure our units are not used for illegal activity.

Our tenants have the peace of mind of knowing that the risk of illegal activity is reduced, because all applicants are screened with equal care. If an applicant feels they meet the following criteria, they are welcome to apply. Please note that we provide equal housing opportunity.

We do not discriminate on the basis of race, color, religion, sex, disability, national origin, familial status, marital status, source of income, age, sexual orientation, or any other federal, state or locally protected class. Each rental application will be reviewed in five different areas: a) Rental History, b) Credit History, c) Income, and d) Criminal History e) Eviction .

Your application may be approved, conditionally approved, or denied. To be approved you must meet the screening criteria without EXCEPTION. Applications not meeting the listed screening criteria may be conditionally approved. Conditionally approved applications may require a co-signer or an additional security deposit equal to 100% of the monthly rent, or both. Applications that do not meet the screening criteria, or fit into the conditional margin of approval, will be denied. OCCUPANCY GUIDELINES

1. Occupancy is based on the number of bedrooms in an apartment. A bedroom is defined as a separate, habitable room to be used primarily for sleeping purposes and has a fire exit. The room must have a separate door, a closet, and be in close proximity to a smoke detector.

2. Two (2) persons are allowed per bedroom plus one (1) additional person (i.e., 1 bedroom, three (3) people, 2 bedroom, five (5) people, etc.). A maximum of two (2) people are allowed in a studio or zero bedroom apartment. An infant under three (3) years of age is not considered when counting the number occupants.

3. Any change of the original occupants requires a new application to be processed. APPLICATION PROCESS

4. Select your desired apartment meeting our occupancy guidelines.

5. All applicants over the age of 18 must complete a separate application on the forms provided. Any area left blank will result in delaying the application process and/or rejection of the application. If the requested information does not apply to you, fill in "n/a".

6. All applicants must have separate email address. (This is to confirm identity though Smartmove Screening)

7. No aplication fee. 

8. All applicants must provide two(2) months of pay verifications if asked.

9. All applicants must provide 2 forms of ID. State provided ID, SSN Card, birth certificate, ETC...

10. All applications will be dated and timed. Applications are processed on a first received, first processed basis.

11. Be prepared to wait seven (7)+ days for the completion of the screening process.

12. If your application has been approved, you will have three (3) days to accept the available apartment by signing your rental agreement, including the community Rules and Regulations, or by paying a reservation deposit. You will be expected to begin your tenancy no later than five (5) days from the date of acceptance, providing the apartment is ready for move-in, and no other arrangements have been made.

13. All appropriate fees and/or deposits must be paid before or at the time the rental agreement is signed. Any monies paid must be in the form of a personal check, cashier's check or money order.

14. If your application is approved and you decide not to move-in, the applicant screening fee and 50% of your reservation deposit will be forfeited. If your application is denied, any reservation deposit paid will be refunded to you.

15. If your application has been approved, the rental agreement signed, and you decide not to rent starting on the agreed upon move-in date, you will forfeit your applicant screening fee, and any other fees paid. You will also be responsible for a 30-day notice to vacate.

GENERAL REQUIREMENTS

16. All applicants must provide a picture I.D. issued by a government agency and their Social Security Number (SSN). If they do not have an SSN, they can provide a Passport, Visa, Birth Certificate, Resident Card or Authorization Document from Homeland Security in lieu of their SSN.

17. The primary applicant must be eighteen (18) years of age or older.

18. Each applicant 18 years of age or older must qualify individually.

19. Unfavorable information for any individual applicant may result in denial of the total application.

20. The behavior and demeanor of applicants during the application process will be considered.

21. Information that is misrepresented on the application will be reason to deny the application, or if the misrepresentations are found after a rental agreement is signed, your rental agreement may be terminated. RENTAL REQUIREMENTS

22. Two (2) years of verifiable unbroken rental history from a third-party landlord with positive recommendations is required. Questions asked will include 1) Was/is rent paid on time? 2) Length of tenancy? 3) Was proper notice given? 4) Did the applicant have any NSF checks? and 5) Would you rent to this person(s) again? CONDITIONALLY APPROVED: Applicant lacks two (2) years of history because of student status, previously living with parents, owning a home, or in the military.

23. Significant complaints or noncompliance violations will result in the denial of the application - a) Repeated disturbances to the neighbors' peace, b) Reports of illegal activity, c) Damage to the property beyond normal wear and tear, d) Unpaid rent or damage charges, e) Reports of violence or threats to landlords, neighbors, or staff, f) allowing persons or pets not on the lease to reside on the premises, and g) Failure to give proper notice when vacating the property.

24. Home ownership may be verified through the county tax assessor's office. Mortgage payment must be current to reflect positive rental history.

25. Any recorded, non-recorded, or pending eviction less than five (5) years old will result in denial of the application.

26. Any balance owed related to previous housing will result in denial of the application.

27. Three (3) or more NSF rent checks within a period of one (1) year will result in denial.

28. Rental history demonstrating residency, but not third-party rental history, may require an additional security deposit equal to a full month's rent or more.

29. A co-signer may be required when rental history does not meet the stated third-party rental criteria, but residency can be verified with parents, student housing, or military housing.

30. Previous non-payment of rent notices within a period of one (1) year may result in denial.

31. Any individual whose tenancy may constitute a direct threat to the health and safety of any individual, the complex, or the property of others, will be denied tenancy

32. All units are non-smoking.

33. For multi-family units, vehicle parking is limited to two (2) vehicles Pets ONE PET PER UNIT ONLY

34. Pets or other animals are not permitted, unless otherwise stated. If the property allowed a pet, and the pet is approved; the refundable security deposit will be increased per pet. An additional pet addendum will be signed

35. If pets are allowed, the following definitions apply

36. In this and all subsequent documents, “pet” is defined as any animal capable of causing property damage or personal injury

37. No exotic pets are allowed.

38. All pets must be mature, 18 months or older

39. Small pets are 35lbs or less

40. Animal habitats (e.g. aquariums) larger than ten gallons will require written approval, an increase to the refundable security deposit, and renters insurance.

41. Aid animals or modifications to the unit, necessary to assist those with disabilities, will be allowed with a medical certificate of need and the completion of a request form. Laura's Investments, LLC & SMB Housing only excepts one pet per household. (Pets include companion and service pets)

INCOME REQUIREMENTS

42. The monthly combined gross household income must be at least three (3) times the stated monthly rent.

43. Employment verification will be made by phone/fax confirming position in company, length of employment, salary, and future with company. A current paycheck stub showing year-to-date earnings, W2 or tax return may be required.

44. Self-employed applicants may be required to show proof of income through copies of the previous two year's tax returns.

45. Non-employment sources of income may be verified by contacting the source (Bank Accounts, Alimony, Child Support, Trust Accounts, Social Security, Unemployment, Welfare, Grants/Loans) or by applicants furnishing social security award letters, school loan award letters, savings account or checking account statements.

46. The application will be denied if your source of income cannot be verified or does not meet the dollar requirements. CREDIT REQUIREMENTS

47. All applicants must have a credit score of 600

48. If credit score is not met an additional security deposit of 100% of rent may be asked CRIMINAL HISTORY

49. Any misdemeanor convictions within five (5) years may be cause for denial. Any felony convictions within ten (10) years may be cause for denial. Owner / Landlord may require documentation from probation officer or other agency to verify how applicant is doing. All applicants with criminal backgrounds will be assessed on a case by case. Any criminal convictions that may constitute a direct threat to the health or safety of other individuals (i.e. involvement in any violent or sexual crime) or could result in physical damage to the premises may be cause for denial with no time or degree limitation.

DISABLED ACCESSIBILITY

50. The applicant must seek the management's written approval before making any modifications to the apartment interior or exterior

51. Reasonable assurance must be provided in writing stating the work will be performed in a workmanlike manner with reasonable details regarding the extent of the work to be done.

52. Approved, qualified contractors must be used to complete the work

53. Appropriate building permits and the required license must be made available for inspection by the management.

54. A deposit may be required depending upon the extent of the modifications.

CONDITIONALLY APPROVED APPLICANTS Because of special circumstances, some applicants may not meet 100% of the criteria for approval to rent. For some properties, the applicant may pay an additional security deposit equal to 100% of the monthly rent or more, and/or obtain an approved co-signer.

55. an applicant with past credit problems, but good rental history, and adequate income

56. an applicant who is new to the area, or has recently graduated from school, or has recently returned to the work force, rental and credit history is good and income level is adequate

57. an applicant who has been living at home and does not have a rental history, but their credit and income meet the other criteria

58. a student applicant who has verifiable full-time student status with guaranteed income from financial aid and/or parents, and no negative landlord reference or credit history

REJECTION POLICY DENIAL BASED UPON INFORMATION RECEIVED FROM THE CREDIT BUREAU. If your application has been rejected due to unfavorable information revealed on your credit report:

59. contact the credit bureau or service providing the information - the name and address is found on the Adverse Action Form

60. correct any incorrect information through the credit company by “filing a dispute

61. upon receipt of the corrected information, your application will be re-evaluated for the next available apartment 62. Inaccurate, incomplete, illegible, or falsified information will be grounds for denial of the application. If falsified information is discovered after an applicant is approved for tenancy, it will be grounds for eviction