Leasing Resources

Rental Requirements

READ ALL OF THE FOLLOWING BEFORE YOU BEGIN YOUR APPLICATION

What is needed to apply

Please complete the application thoroughly. Failure to provide any requested information or documentation will deem the application incomplete and therefore will not be considered. Only completed applications will be processed in the order received and your place will not be held if your application is not complete. To process your application, we must receive the following:

• APPLICATION: Complete, signed and dated application for EACH ADULT (18 years and older) who will reside in the home.
• FEE: $27.95 NON-REFUNDABLE for each applicant and co-signer, regardless of family/marital status.
• IDENTIFICATION: Copy of each applicant’s valid photo ID (drivers license, military ID, state ID, passport).
• PROOF OF INCOME: Applicants name MUST SHOW on documents to be verifiable.

Acceptable Documentation of Income

• W2 Paystubs
  1. Two months of most recent
• 1099/Self Employed
  1. Last two years of income tax statements
  2. Record of last two months of deposits to a personal bank account
• Schedule K1
  1. Last two years of income tax statements
  2. Record of last two months of deposits to a personal bank account
• Official Job Offer Letter
  1. Must be on official letterhead of employer
  2. Approval dependent on verification of authenticity at the discretion of the screening company
  3. Must list a start date, date the offer was issued and base income
• Retired or Trust Funded Individuals
  1. Show retirement accounts, pension accounts or any other account showing your withdrawals

Unacceptable Documentation of Income

1. General Rule: If it's not reported to the IRS, it is not accepted income
2. Any documentation that does not show the applicants name
3. Non-verifiable letters of employment
4. Self-generated reports
5. Emails/Screen shots
6. Cash Receipts
7. Handwritten or typed notes

How we score your application

• CREDIT:
  • Your credit score must be 650 or higher. Know your score before you apply.
  • If your score is below 600, we cannot rent to you, even with a co-signer or extra deposit.
  • Scores of 600-649 can sometimes be approved conditionally, but applicants must: 1) have an average of less than 3 or more unpaid collections per person, 2) AND will require a double deposit or a co-signer, 3) AND you must have excellent income and rental history.
  • All information shown on the credit report is subject to verification, including previous address and place of employment.
  • Negative or adverse debt, collections, judgments, and or liens exceeding $10,000 will result in denial of the application.
  • Applicants with an open bankruptcy, however, will automatically be denied.
  • Credit reports supplied by applicants are not accepted.
• RENTAL HISTORY:
  • One year of favorable, verifiable (non-family) rental history or homeownership is required.
  • If you've owned a home, your payment history will reflect on your credit report.
  • Co-signers and/or double deposits may be considered for lack of rental history, foreclosure or short sale.
  • Evictions, small claims suits and/or collections by any previous or current landlord will be cause for rejection.
  • Applications may also be denied for damages beyond normal wear and tear, illegal activity on premises, and/or reports of non-compliance.
  • Any landlord reference that includes two or more late payments and or return checks per calendar year, may result in denial or in a double security deposit, at Management's discretion.
  • Any instance of a security deposit which was not returned due to damage of the rental unit beyond normal cleaning and/or any instance of proper Intent to Vacate Notice not being given to a landlord and/or a broken lease, may all be cause for denial.
  • If you cannot provide contact information for your former landlords, we cannot consider that history and your application score may be affected.
• NET INCOME:
  • Families/couples must be able to prove a combined monthly net income of at least THREE times the monthly rent.
  • Roommates must prove their net income to be at least TWICE the rent amount EACH.
  • Additional sources of income (example: child support, SSI, liquid assets, retirement income, etc.) can be counted as long as it is verifiable.
  • Unemployment is never considered income.
  • Income guidelines may be waived at the discretion of SMPM if applicant pre-pays rent for the full term of the lease.
• CRIMINAL HISTORY:
  • Applicants may not be accepted if they have been arrested for a violent crime and/or for convictions for which less than seven (7) years have passed from sentence release date to the rental application date. Regardless of date, no applicant will be accepted with a conviction or arrest for: an act of violence (against a person or property), sex crime, burglary, criminal trespass, stalking, vandalism, arson, gang involvement or illegal manufacturing or distribution of drugs. However, per Federal regulations, special accommodations may be requested for certain drug and/or alcohol related convictions.
• CO-SIGNERS:
  • Co-signer must have a credit score no less than 700, must make 4x the monthly rent and be a resident of the Pacific Northwest.
  • Co-signers are only accepted to cure an income shortage or lack or rental history only, not to overcome bad credit.
• HOUSING SUBSIDIES:
  • We do not accept Boise City/Ada County Housing Authority contracts.
• NUMI REPORT:
  • Required if requested at any time of the application process.
• CONTINGENCY APPROVALS
  • If you and/or your co-applicants do not meet the income requirements, you will need to have a qualified co-signers' application accompanying yours to be considered complete.
  • If you and/or your co-applicants have a lack of rental history, a double deposit or co-signer may be required for approval. If you prefer to pay a double deposit, please notify us immediately of your intention to do so via a call or email.
  • If you and or your co-applicants do not meet the income requirement AND also lack rental history, you will need to have a qualified co-signers' application accompanying yours to be considered complete.
  • Review the co-signer requirements to confirm that they meet the required criteria.