Qualifying Criteria & Application Instructions
Before you apply to rent this property, please take time to review these rental criteria to determine if you are eligible. The term “applicant(s)” under these criteria means the other person(s) who will be signing the lease as “resident”; the term “Occupant” in these criteria means the other person(s) authorized to be occupants under the Lease. Together with the Rental Application these criteria will govern your application. Any person 18 years or older will be required to complete and sign an application and sign the lease as a “resident” as well as pay an application fee.
Fees: Once applicant is approved they must submit an application hold fee within 24-48 hours of approval in the amount equal to $50 less than the rental amount. Once tenant has signed the lease agreement with APT, these funds will become the security deposit for your tenancy. If applicant fails to sign lease within 24-48 hrs after application hold fee is submitted APT can go back to market with the property and applicant loses their application hold fee.
Occupancy Guidelines: No more than two (2) persons (residents or occupants) may occupy any bedroom. Notwithstanding the forgoing, a family may occupy a unit if the family does not exceed two persons per bedroom plus a child who is less than ten (10) years old at the time of rental application. The effective date of the lease agreement must be within 15 days after applicant is approved and the unit is ready for occupancy.
Income and Employment: Monthly income for applicants must be three (3) times the current monthly rent. All applicants must have verifiable and acceptable employment history or source of income. Verification can include: pay stubs, written verification from income source or w-2 forms. If an applicant is relying on a new employment position, applicant must provide a letter of intent from the new employer.
Rental History: Applicants must have a minimum of one (1) year satisfactory rental history or R1 rating of home ownership. Satisfactory history will be defined as no more than one (1) late payments not to exceed fifteen (15) days past due, or no more than one (1) returned check. The applicant must have given proper notice to vacate and have no outstanding financial obligations to previous landlords. Current/previous Landlord must provide acceptable rental history. Broken leases and evictions that have not been reconciled with previous landlord is grounds for denial. If you owe money to any utility company your application can be denied.
Credit: All applicants must have an acceptable credit history. If your credit score is below 600 FICO you must have a co-signer that has a credit score above 700 FICO and satisfy all the additional qualification requirements. If bankruptcy has been declared, we require the bankruptcy to be discharged and new positive credit established. Existing credit must be at least 50% positive.
Criminal History: The rental application can be denied if an applicant or occupant has:
Offenses classified by the Texas Penal Code as an offense against the person, an offense against a family member, arson, criminal mischief, disorderly conduct and related offenses
We reserve the right, but are under no obligation, to make exceptions to this policy at our sole discretion.
Pets: Dogs & Cats are permitted with a $175 deposit per pet and an increase of 2% of the monthly rental of the unit. The following breeds, regardless of weight are restricted: German Shepherds, Rottweilers, Doberman Pinschers, Chows, Pit Bulls, Staffordshire Terriers, Great Danes and St. Bernards. Other breeds may be restricted depending on landlord’s insurance policy requirements.
False information: Any falsification of information on the application will automatically disqualify the applicant and all app hold fees and application money will be forfeited.
Acceptance: All applicants’ qualifications are evaluated and accepted or rejected by APT at its sole discretion. APT reserves the right to make modifications to these criteria at any time.
HOW INFORMATION IS COLLECTED. You will be furnishing some of your personal information (such as your Social Security or other governmental identification numbers) at the time you apply to lease or rent from us. This information will be on the rental application form or other documents that you provide to us either on paper or electronically.
HOW AND WHEN INFORMATION IS USED. We may use this information in the process of verifying statements made on your rental application, such as your rental, credit and employment history. We may use the information when reviewing any lease renewal. We may also use it to assist us in obtaining payment from you for any money you may owe in the future.
HOW THE INFORMATION IS PROTECTED AND WHO HAS ACCESS. Only authorized persons have access to your Social Security or other governmental identification numbers. We keep all documents containing this information in a secure area, accessible only by authorized persons. We limit access to electronic versions of the information to authorized persons only.
HOW THE INFORMATION IS DISPOSED OF. After we no longer need your Social Security or other governmental identification numbers, we will store or destroy the information in a manner that ensures that no unauthorized person will have access to it. Our disposal method may include physical destruction or shredding of paper documents or electronic files containing such information.
LOCATOR SERVICES. If you were referred by a locator services, please be aware that the locator services are independent contractors and are not our employees, even though they may have initially processed rental applications and filled out lease forms. You should require any locator services you use to furnish you their privacy policies.
STATEMENT OF BREED
I/We do have pet(s), and I/we understand that the acceptance of pets and the specific breed of pets are negotiable issues between the property manager, the owner of the property and the applicants.
It is the policy of Austin Property Team not to accept the following breeds of dogs due to their pre-determined aggressive nature.
Rottweilers, Doberman Pinschers, Chows, Pit Bulls Staffordshire Terriers, German Shepherds, Great Danes, St. Bernards or any other breed of dog that may be deemed dangerous to the tenants, invitees of the tenants, insurance carriers or the general public.
With this understanding, I/We acknowledge the policy of Austin Property Team and state that our pets are not one of the breeds listed above, and in fact our dog(s) are of the following breed(s):
I acknowledge that I had the opportunity to review the property’s rental selection criteria, which includes reasons why my application may be denied, such as criminal history, credit history, current income, and rental history. I understand that if I do not meet the property’s rental selection criteria or if I fail to answer any question or give false information or if I do not sign my lease within 48 hours of it being sent then the property management company may reject the application, retain all application fees, administrative fees, and app hold fees and take the property back to market.
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Document Name: Qualifying Criteria & Application Instructions
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