Rental Criteria 

To reside in our community, we require that each applicant must be at least 18 years of age and meet certain rental criteria. Before you complete our Rental Application, we suggest that you review the below requirements to determine whether you meet them. Please note that the term “Applicant” applies equally to all Residents now or hereafter identified on the Apartment Lease Contract and the person or persons to be responsible for paying rent. Please also note that these are our current rental criteria; that nothing herein contained shall constitute any type of representation as to either prior or future rental criteria. Our ability to verify whether these requirements have been met is limited to the information we receive from the various screening and credit reporting services used.

All prospective residents may be required to provide proof of the following standards, which shall include:

Occupancy:

Credit: A credit check will be processed on all applicants who qualify to rent based on their own income. A

a social security number is required. Applicants must have a credit score of 500 or above.

A Resident with a credit score below 500 must have a co-signer that meets the requirements, or will be required to prepay two (2)monthly lease installments in advance.

Bankruptcy: Any prior or current Bankruptcy may result in a non-approval of your rental application.

Income: Total qualifying sources of monthly income must be at least three (3) times the sum of the highest monthly rental amount. If this income requirement is not met, management may require the applicant to have a co-signer that does meet requirements.

For a Co-Signer(s), the gross income must equal to or exceed (3) times the monthly rental amount. A Co-Signer may only be considered if the applicant is either a first-time renter, or does not meet qualifications individually.

Acceptable documents for income verification:

• 3 of the most recent/current pay stubs showing year to date wages
• If employed less than one month, a signed offer letter on company letterhead
• If self-employed or receives money from non-employment sources, the applicant must provide tax returns from the previous year or a financial statement from a CPA verifying employment and income, or copies of applicant’s (3) most current bank statements
• Applicants with no monthly income can provide a copy of the (3) most recent bank statements/investment accounts for consideration
• Current government issued benefit award letters
• Retirement Accounts

Identification:        

Citizens: All applicants must have a U.S. government-issued photo I.D., as well as a social security number.

Non-Citizens: In addition to meeting the above criteria, applicants who are citizens of another country must provide (1) a foreign passport; (2) the INS document that entitles the applicant to reside in the United States; and (3) proof of employment in this country or an I-20 form verifying student status and proof of enrollment*. Vesta Realty may make a photocopy of any of the applicant's INS documents, international passport and visa.

Criminal History: A criminal history check will be done on all applicants. It is the policy of Vesta Realty LLC to review an applicant’s past criminal history as there is a legitimate concern about the health, safety, and/or comfort of other residents and employees, as well as a legitimate concern regarding the potential risk for property damage. Criminal history only refers to criminal convictions, which includes deferred adjudication and/or pretrial diversion. Generally, factors including, but not limited to the following, will be considered when reviewing the applicant’s criminal conviction(s): nature and severity of crime; when the crime was committed; and whether the type of criminal conduct is a concern to the legitimate interests of the property or owner of the property under management. Misdemeanors against a person will be reviewed and approved at the sole discretion of management.

Generally, applicants with the following criminal convictions will be excluded from residency at this apartment Community: (1) any felony involving violence against another person; (2) arson; (3) any felony relating to the manufacture, sale or distribution of illegal chemicals or drugs, including controlled substances; (4) sex offenses, including but not limited to any form of sexual assault, rape, indecent exposure, or other sexually related offense if such offense was a felony; and, (5)  assault or battery or both if the offense was a felony. Notwithstanding the above, it is the policy of Vesta Realty LLC to review the foregoing factors regarding Applicant’s criminal conviction(s), as well as consider any evidence of mitigation provided by Applicant. Applicants shall not be rejected solely based upon an arrest or charge that is not yet a criminal conviction as defined above. Applicants with pending criminal litigation who are subsequently convicted, given deferred adjudication, or given pretrial diversion, for any of the crimes including, but not limited to, those provided above, during the term of any prospective lease, may be in default of their rental agreement and may be required to vacate the premises.

When applicants have not lived in this state for at least 12 months prior to application date, we will endeavor to check criminal history for the previous states of residence over the past 7 years. Please note that this requirement does not constitute a guarantee that residents or occupants currently residing in our Community have not been charged with or convicted of a felony, deferred adjudication for a felony, or misdemeanor crime against a person or property. There may be residents or occupants that have resided in our Community prior to this requirement going into effect. Additionally, our ability to verify this information is limited to the information made available to us by the resident credit reporting services and other third party resources.

Rental History: Your previous rental history will be reviewed, and any negative rental history will not be accepted. Negative rental history is described as, but not limited to, any damages owed, rental related debt as described above, delinquent rental payments, and/or evictions filed against you.

Falsification: Any falsification of information on the application automatically disqualifies the applicant or occupant and will result in Landlord’s retention of any and all fees, charges, and deposits.

Fees: There is a non-refundable application fee per adult, and non-refundable administrative fee per household. The application fee and administrative fee must be paid  prior to application processing.

Vesta Realty LLC provides housing to residents without regards to race, color, sex, religion, handicap, familial status, or national origin. All  housing is provided in accordance with federal, state, and local laws as well as state multifamily fair housing laws.

Please review in detail. Your signature notes that you understand and acknowledge the Rental Criteria.