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RENTAL CRITERIA FOR RIDGE TERRACE APARTMENTS
Effective 09/03/04(revised 04/01/09)
PHONE# (708)422-3113
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Welcome to Ridge Terrace Apartments. Before you apply to rent an apartment, please take the time to review our rental application approval criteria. The following information is offered so that all applicants will have available to them a detailed statement of the rental qualifying policies adopted by Ridge Terrace Apartments L.L.C.
Although we have attempted to make this document easy to read and understand, it does include formal language and legal terms. If you have any questions regarding our policies or about the information contained in this document, please contact any member of our management team.
Enclosed is the current rental criteria of Ridge Terrace Apartments L.L.C.; nothing contained in the requirements shall constitute a guarantee or representation by us that all residents who inhabit the community have met all of the requirements. There may be residents or occupants who have resided on the premises prior to the inception of these requirements: additionally, our ability to verify whether these requirements have been met is limited to the information we receive from various consumer reporting services used by us.
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Equal Housing Opportunity
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Ridge Terrace Apartments, LLC provides an equal housing opportunity to all. We abide by all fair housing practices and do not discriminate on the basis of race, color, religion, sex, handicap/disability, national origin, familial status, ancestry, age, marital status, source of income, sexual orientation, or other factors that are unrelated to an applicant's ability to comply with the rental agreement and community policies.
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The current policy of Ridge Terrace Apartments is NO PETS permitted. This includes but is not limited to dog, cats, ferrets, exotic animals, reptiles and birds.
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A non-refundable application fee of $20.00 is required for each application. Personal checks will not be accepted for application fee, funds must be cash, money order or certified funds. If paying by money order or certified funds, the check must be made payable to Ridge Terrace Apartments L.L.C.Each applicant over the age of 18 must fill out an application for residency and submit an application fee. Because there are no exceptions make certain that, to the best of your knowledge you meet the rental application approval criteria.
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All applicants must be 18 years old. Any minor who will occupy the apartment on a regular basis must be listed on the application and must be under the direct supervision of the adult applicant(s).
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All applicants over the age of 18 must provide 2 forms of identification. Applicants must have a valid current driver’s license or another form of governments issued identification and 1 other form of identification. The request for photo ID is solely for the purpose of verifying identification and no other purpose. A copy of Id will be required and kept in your file if accepted as tenant.
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Each applicant must have a United States government issue Social Security number in order for the verification process to begin.
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A credit report, eviction history and criminal history will be processed on each applicant DIRECTLY FROM OUR OWN REPORTING AGENCY using their Registry Scorex screening model. An unsatisfactory report can disqualify an applicant from renting an apartment at this community. An unsatisfactory report is one that reflects past or current bad debt, late payments or unpaid bills, liens, judgments or bankruptcies. Any applicant with a bankruptcy not showing as discharged is denied until shown otherwise. Applicants with discharged bankruptcies must show positive credit since discharge. Applicants with little or no credit history may be required to pay an additional security deposit provided you meet the other criteria listed in this document.
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Complete information regarding the last 5 years of your resident/rental history must be provided on your application. If you owned any places of residence, then information regarding you mortgage lender should be substituted for landlord information, along with loan number. If there is no rental history, applicant may still be accepted if all applicants meet top “Accept” threshold. If you have been evicted within the last 3 years, or if you have a landlord/tenant judgment against you or if you have a judgment where you owe a previous landlord money your application will be denied. Any unfavorable response regarding rental history or inaccurate/false information regarding rental history will result in your application being denied. This includes but is not limited to history of late rent payment, records of disturbance of neighbors, destruction of property, living or housekeeping habits at prior residence which may adversely affect the health, safety or welfare of other residents, illegal occupants or unauthorized pets may result in denial of the application.
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Applicants must have a gross monthly income (before deductions) source that is a least 3 (three) times the monthly rent of the apartment being leased. (Example: Rent is $800.00 X 3= 2400.00. The applicant must have a monthly gross income of at least $2400.00)
Each roommate must have a gross income source that is at least 3(three) times 50% of the monthly income. (Example: Rent is $800.00 divided by 2 = 400.00 X 3 = $1200.00each roommate must have a monthly gross income of at least $1200.00)
Your local employment or other source of income must be verified. You must have stable income/employment for a minimum of 12 months preceding the date of your application.
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EMPLOYMENT/SOURCE OF INCOME
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Applicant must have a stable income or employment for a minimum of 12 months preceding the date of your application that meets income criteria. All employment used to meet income criteria will be verified, including salary amount, state date and length of employment. At time of application you must provide photo copies of your last 2 pay stubs. Other verification may include W-2 form or written verification on employer letterhead indicating dates of employment and monthly income.
Self employed applicants will be required to provide either previous year’s tax return or six of the most recent bank statements indicating a balance of at least 18X monthly rent.
If an individuals verifiable income falls below the minimum income requirement, but has at least 12X monthly Rent in savings or Liquid Assets, then the income requirement is considered to be met. Proof of income and all other criteria must be met.
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Your name and identity will be checked against records of law enforcement agencies.
*Management expressly reserves the right to reject any application on the basis that an applicant has been convicted by a court or competent jurisdiction of the illegal manufacture, distribution, possession, or current use of a controlled substance as defined under applicable federal or state law.
*Management also reserves the right to reject any application on the basis that an applicant has a prior record of criminal conviction(s) that involve a threat to health or safety of other individuals.
*Management reserves the right to reject any application on the basis that an applicant poses a clear and present threat of substantial harm to others or the dwelling or property, itself.
*Management reserves the right to place a hold on any application from an applicant who has charges pending until final disposition of the case.
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Ridge Terrace Apartments maintains a strict policy of confidentiality and privacy for our applicants and residents. We do not discuss information on applications with anyone other than the applicant or resident. In addition we do not discuss individual credit reports with an applicant. If you would like to discuss or dispute any information contained in your credit report, you will need to contact the consumer-reporting agency in which the report was derived. We will provide you with the name and address of that consumer-reporting agency upon written request.
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Properties become available when they are ready to rent. A vacant unit will not be deemed available until it has been cleaned and prepared for the new resident. We update our list of upcoming available units as notices are received. An upcoming available unit that was not published in the morning may become published later that same day.
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Approved applications remain in good standing for a period of (30) days from the approval date. If the lease is not signed and/or the applicant fails to occupy an apartment within the viable time period, the application must be re-submitted for verification and approval and a new application fee must be paid.
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All residents and adults must be listed on the lease agreement. No more than (2) two* occupants may reside per bedroom. No more than 2 unrelated persons per apartments.
*The two person limitation shall not apply to a child born during the course of the lease.
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The demeanor or behavior of rental applicants during the application process will be considered and evaluated in the sole opinion of Ridge Terrace Apartments L.L.C. The application process requires the presence of all occupants for the application interview.
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To maximize you chance of approval and to expedite the process please take the time to fill your application as completely and accurately as possible. If something does not apply use N/A in that spot. Incomplete applications and false/inaccurate information will result in the rejection of you application.
Once we receive your application, application fee and copies of required income information we will begin processing your application. This process can take up 3 business days.
You will be notified by telephone if your application has been approved and you will be required to bring the required Security Deposit and sign the Lease with-in 48 hrs. of notification. Depending on the date of occupancy you may also be required to bring 1st month’s rent at that same time. The 1st months' rent and security deposit are required to be paid in the form of certified funds, or money order.
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