Vision Real Estate Rental Criteria

The following are standards that will be used to judge your application for tenancy. You must meet the following standards to qualify for a rental with Vision Real Estate. All persons 18 years of age or over, who will reside on the premises, must complete an application, pay the application fee, and must be signers on the lease. If a guarantor is required, the guarantor must complete an application and pay the application fee. This application fee is non-refundable, regardless of acceptance (see the specific property listing for fee details).

Applications are judged on the same standards and abide by all fair housing laws. We run applications in order, one person or family at a time. If we are unable to verify the information on the application in a timely manner, your application may be denied.

CRIMINAL HISTORY

Although applicants will be asked to disclose any prior arrests, convictions or pending criminal actions of all anticipated occupants, this information will not be reviewed until after the applicant has had it credit and references checked and approved. A criminal background check will be conducted. Failure to disclose criminal information as requested is grounds for denial. Arrests will not, in themselves, be grounds for denial but may be factors used along with other criteria. Pending criminal actions may be grounds for denial but will be reviewed on a case by case basis. Convictions of any sort will be evaluated on an individualized basis. Persons who are listed on any sex offender list will not be considered. Persons who have a criminal conviction relating to manufacture or distribution of controlled substances will generally be denied. In review of criminal history, management will consider the nature and severity of the crime, along with how much time has passed since the criminal activity and/or the release from any imprisonment, parole, or probation. it is unlikely that the following persons will be accepted: persons convicted of other drug related offenses who have not provided evidence of completed drug rehabilitation; persons who have convictions relating to serious crimes involving violence, gang activity, arson, and injury to persons. Also persons who have been recently released from prison, parole, or probation may be required to provide additional information and references. Applicants may provide mitigating information. Applicants denied due to criminal history may appeal that decision by providing such appeal in writing along with any information that applicant desires to provide.

RENTAL HISTORY

• We will contact your current and previous landlord in regards to your rental history. If we are unable to contact previous landlord, that is grounds for denial.
• You may have no more than three late payments in a 12-month period or more than 1 bounced check in a 12-month period.
• Prior eviction filed or completed within 5 years is grounds for automatic denial. 

CREDIT HISTORY

• Our system pulls the fico9 score from Transunion this is not the credit score. This assigns a letter grading which we do not have control of. For more information on Fico9 scoring please see: https://www.creditkarma.com/advice/i/fico-score-9
• Applicants with a score of a+, A, B+, or B (650-850)may be approved with a regular deposit equal to one month's rent barring everything else checks out appropriately. 
• Applicants that return with a fico 9 score of C+ or C (550-649) may be approved with a double deposit or guarantor
• Applicants with a D or F (< 549) score may be denied. 
• Applications will be denied for bankruptcy discharged within the last six months.
• If you have filed for bankruptcy in the last 18 months, or have an active bankruptcy that has not been discharged the application will be automatically denied.

INCOME VERIFICATION

• The rent cannot exceed 40% of the total of all income of the applicants for the lease or the minimum monthly gross income may not be below 2.5 times the monthly rent (minimum income ratio may increase depending on rental). Eligible guarantors must show a monthly gross income to rent ratio of at least 3x the monthly rent
• You must be able to provide most recent pay stub, bank statement, letter from housing, SSI award letter, or tax returns to verify income.
• We will call your employer to verify employment. If we are unable to contact your employer to verify, it is grounds for denial.

ADDITIONAL INFORMATION

• Upon approval of your applications, a deposit of at least one month’s rent will be required. 
• Unless otherwise stated, all properties managed my Vision Real Estate require tenants to obtain and hold renters insurance for the duration of residency. Tenants agree that any lapse of renters insurance coverage will result in automatic enrollment in a liability insurance program at their expense. 

ALTERNATIVE CRITERIA

• If your application is denied due to failure in credit, you may still be rented to with the requirement of a double deposit and/or a financial guarantor.
• If you do not have a rental history, you may still be rented with a cosigner, double the deposit, or prepaid rent.
• If we are unable to verify your income but you have clean credit. You may still be rented to with the requirement of a cosigner or double deposit.