Qualifying Criteria

Our community is professionally managed by Monarch Properties, Inc. In order to be considered for occupancy, the household must meet all of the qualifying criteria stated below. This apartment community is operated in accordance with the requirements of the Housing Credit Program governed under Section 42 of the Internal Revenue Code of 1986. Applicants/Residents must cooperate with Management in certifying their eligibility for this Program prior to taking or continuing occupancy. All unmarried household members age 18 years or older must complete a separate rental application.  The information contained in the application will be used to qualify the household under the Selection Criteria and will also be used as authorization to conduct a background check.  “Section 8 Housing Choice Vouchers” are accepted. Recipients will be required to meet all requirements as stated above and below.  (For additional information please refer to the “Management Policies Display Manual” on display in the leasing office.)

INCOME  

The household “gross” annual income cannot exceed the income limits listed below for household size. There are also “minimum” income requirements based on the bedroom size rental amount.  Income must be verifiable from all sources for all household members.

*Qualifying income: Unit rent x 12 months, divided by 40% = Minimum Income Management Requires

RENTAL HISTORY

If Applicant(s) is/are related to the current Housing Provider, or, your rental history is of less than six (6) consecutive month’s duration, one (1) or more rental screenings from the second or third most recent Housing Provider will be needed. (Exception:  Always lived with parents.) A household will be deemed “not” to meet Lease Compliance Standards if one or more of the following are true:  Prior and current housing provider screening show that any adult in the household was evicted, or had eviction proceedings brought against him/her; removed or abused property; was a nuisance (noise, pets, etc.); was late on rent payments more than once per each year of residency; still owes an amount; violated the lease in any other significant way, or failed to meet any other financial obligations of the housing provider.

 

CRIMINAL HISTORY

Applicant household will be denied if the any of the following applies: is a current user of illegal drugs (discovery of controlled substances or drug paraphernalia or evidence of drug manufacture in a residence occupied by any member of the household); conviction of any household member for any drug-related crime; if the applicant’s household includes a member (also applies to persons under the age of 18 years) who has been convicted within the past ten (10) years for violent criminal activity involving the actual or threatened use of physical force against another person, including but not limited to battery, armed robbery the unlawful discharge of firearms, any illegal drug related activity (including sale, distribution, manufacture, possession, or use of a controlled substance); or any other felony such as burglary, receiving stolen merchandise, simple assault, disorderly conduct; or misdemeanors against persons or property of another such as vandalism, graffiti, malicious mischief, etc.; within a lifetime: murder, rape child molestation, kidnapping; within five (5) years of the application date an ongoing or concluded incarceration, work release, parole or probation resulting from the conviction.

 

CREDIT HISTORY

A credit report will be processed on all applicants 18 years or older or emancipated minors. Applicants must have acceptable credit history.

 

CO-SIGNOR OR GUARANTOR OF LEASE

A co-signer may be considered if applicant(s) lack acceptable credit history or have insufficient income for the rental amount.  Co-signers must qualify under these same rental criteria. Co-signers will not have right of access or possession of the apartment unless otherwise set forth in the Rental Agreement.

 

OCCUPANCY STANDARDS

Maximum two (2) persons per bedroom plus one additional household member.  

 

MONARCH Properties, Inc. supports “The Fair Housing Act” as amended.  We reserve the right to deny an application if the prospective household member does not meet the above rental criteria.