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ALLEGIANCE PROPERTIES INVESTMENTS, INC. 

Rental Policy, Screening and Qualification Guidelines

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Thank you for applying for one of our managed properties. Please take the time to read this form, and then complete the rental application. Any Incomplete, inaccurate, or falsified information, the application will not be processed and or denied. A link will be sent to Applicant(s) email to obtain approval for us to obtain credit, background, and eviction reports. This email will come from Transunion  and Applicant(s) must verify their identity and approve release of reports within 24 hours of email being sent.  If we receive multiple qualified applicants at or around the same time. The most qualified applicant will be selected regardless of whom was first to apply. 

 

Income:

• Applicant(s) (hereafter referred to as Applicant) combined gross income must be three (2.5) times the monthly rental amount. Housing choice voucher program applicant income must be (2.5) times the applicants portion of rent.  Cosigner/Guarantor income must be (3.5) times the rent amount. Cosigner/Guarantor must also live in the state of California.

• Applicant must have stable, continuous employment history, been with current company for at least 90 days and must provide verifiable pay stubs for the most recent 60 days.

• If the applicant is self-employed, then the most recent 2 years of tax returns, most recent 3 months of complete banking statements showing deposits, and withdraws. No summary pages will be accepted.

• All supplemental income (Social Security, Pension, and Child Support/Alimony) must be verified in writing.

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Rental History:

• Applicant must have 24 or more months verifiable rental/mortgage history during the past 3 years with a maximum of 1 late payment/NSF during the past 12 months.

• Applicant must have no lease violations requiring legal notice.

• Applicant must not receive a “NO” answer to the question “Would you re-rent again?”

• If Applicant has rented from a private landlord any time in the past twelve 12 months, then the applicant must provide most recent canceled checks/money order receipts of rental payments, or other proof as requested, for such rental period. No cash payment receipts will be accepted as proof of rent payments.

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Credit History:

• Applicant must have a satisfactory credit rating report obtained from TransUnion with a score of 650 or better. Cosigner/Guarantor credit score 720 or better, both with no current derogatory or collection within the most recent 12 months.

• Scores below 650 will result in a rejection or may require a Guarantor (co-signer) and/or higher security deposit. This would be determined based on the information obtained from the Consumer's Credit Report. Such as how much, what kind, and how recent derogatory items are as obtained from such reports.

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Criminal History:

• Applicant must not have any of the following: felony convictions in the last (7) years. Drug-related charges, such as manufacturing and/or distribution of illegal or controlled substances and/or drugs, arson, assault of great bodily harm and/or murder, burglary, larceny, and theft-related crimes. Or any felony convictions for any sex related, sex trafficking and any terrorism offenses at any time.

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Eviction/Broken lease:

• Applicant must not have been Evicted or Moved out without Notice from any residence within the past Five (5) years of application date.

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Bankruptcy - BK

• Applicant Bankruptcy must have been discharged for at least Two (2) years prior to application date.

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Rental Fee Schedule

• Tenant/Guarantor Application(s) $45.00 (per application, each person over the age of 18) This Fee is Non-Refundable  Screening Fee Disclosure, reports $15.00 processing $30.00   

• First Month’s Rent (Payable prior to move in w/Certified Funds Only)

• Security Deposit (Payable prior to move in w/Certified Funds Only with Separate Certified Check)

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Please upload the following required attachments to your online Rental Application in order for your Application to be deemed complete. Copy of your Driver’s License, Income Verification, Most recent 60 days of Paycheck Stubs or other Verifiable Proof as described above.

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Additional supplements to your application can be emailed to ApplicationProcessingAPI@gmail.com By Completing your Online Application you are Acknowledging that you have read the Rental Policy and Agree with the Terms in its Entirety.