Bei-ScottApplication Guidelines & Criteria
Bei-Scott Properties verifies identity, credit history, rental history, and income for every application. Multiple applications for a single property will be submitted to the owner. The applicant that best fits the criteria listed below, will be approved. Application information that is found to be incomplete or falsified will be grounds for immediate denial.
Each applicant must meet the itemized criteria outlined below to be considered for tenancy.
1. Application & Application Fee: Every person over the age of 18 must submit a completed and signed application form. Each application form needs to be filled out completely, including: all names, dates, addresses and phone numbers.
There is a one time non-refundable application processing fee of $40.00 per application.
2. Security Deposit: The security deposit amount is set at 1.5 times the monthly rent, on approved credit. A higher security deposit may be required depending on derogatory credit history.
3. Identification: All applicants must show a current and valid form of government issued photo identification at the time of application submission. Passports, Identification Cards and Driver’s Licenses are all acceptable forms of photo identification.
4. Income Verification: As a combined household all applicants must have a minimum gross income equal to 2 ½ times the monthly rent. Proof of income must be from a legal and verifiable source of income. Acceptable proofs of income include: 1 most recent paystubs, a signed official offer letter of employment on company letterhead or the most recent year’s tax returns. Social Security, Disability, Retirement, Alimony, Child Support, Grants and I-20’s are also acceptable forms of income, but must be proven through printed written verification and/or award letters.
For self employed individuals, acceptable forms of income verification include the most recent year’s tax returns.
5. Rental Verification: Written verification from an applicant’s two most recent landlords will be obtained to verify dates of occupancy, rental amount, payment history and/or any notable tenancy issues.
6. Credit History & Requirements: Credit reports are obtained through and used to verify credit history.
An applicant must have more positive credit accounts than negative credit accounts. The maximum percentage of past due negative accounts must be less than 25% of the total number of active accounts. Unpaid collections (including past due credit accounts) must not exceed $750.00. In addition, there can be no utility accounts in collections.
Medical bills, student loans, foreclosures and mortgages in default are not to be considered derogatory or negative credit.
7. Bankruptcies: All Bankruptcies must be no less than 2 years old from the application date and have already been discharged. Following the discharge there must be no new derogatory credit or derogatory rental history.
8. Guarantors: A Guarantor is permitted to guarantee a lease for an applicant who has no established credit history and/or has an income deficiency. The Guarantor is held to the same application process, guidelines and criteria as any other applicant, with the exception that the Guarantor must prove legal and verifiable minimum gross income equal to 4 times the amount of monthly rent.
A Guarantor will not be permitted for an applicant that has negative or derogatory credit.
9. Occupancy: Studio (2) Persons - One Bedroom (3) Persons - Two Bedroom (5) Persons - Three Bedrooms (7) Persons
10. Approval: Once your application(s) have been approved a member of our management staff will contact you to set an appointment for your lease signing. All leases must be signed within 5 days from the date the application is submitted.
13. Denial: Applicants with an eviction, money owed to another landlord or apartment community or negative rental history will be automatically denied. Denied applicants will be notified in writing of denial.