RESIDENT SELECTION CRITERIA
At Bane Investment Holdings (BIH) we do business in accordance with the Fair Housing Act. We provide equal housing and service for all people regardless of race, color, religion, sex, national origin, disability or familial status.
Applications: Applications will be accepted on a first come, first serve basis. All information contained onthe application must be truthful, complete, and accurate. The apartment, house, or property will be reserved for applicant based on the availability of the unit type requested. BIH may change applicant to a different apartment, house, or property at their sole discretion. Any false information provided in the application may result in rejection of the application or termination of the residential lease.
Conduct: If resident displays any aggressive, abusive or intimidating behavior during the application process, or if resident disrupts Management’s business operations, Management may reject the rental application.
Application and Non-Refundable Processing: The applicant agrees to pay non-refundable Rental Application. All occupants 18 years of age or older must fully complete a Rental Application and meet the qualifying requirements. All occupants, with the exception of adult and adolescent children of Leaseholder(s), must execute and will be fully responsible for all terms of the Rental Agreement along with all other addendums. Adult children of leaseholders are defined as any non-responsible, occupant only, that is 18 years of age or older. A complete criminal background and credit check will be completed for all adult child occupants. Legally married couples are permitted to apply as one joint applicant but must execute the rental agreement as individuals.
Guarantor (co-signer): If a guarantor is required, the guarantor must meet all qualifying criteria as outlined. Guarantor must have a gross monthly income equal to three times the monthly Market Rate (no discount) for that apartment. Guarantor is responsible for all monies due on the account and must adhere to the terms and conditions of the Apartment Rental Agreement. Utilization of a Guarantor is not permitted when applicant is disqualified due to negative rental history.
Pre-Paid Reservation Fee: (If applicable) A non-refundable pre-paid Reservation Fee will be required. This is not a security deposit and will be cashed within 24 hours of your application or upon your approval whichever occurs first. This amount will be applied towards your first month or prorated rent upon move-in. If you do not move-in the Reservation Fee is non-refundable. This amount will be calculated based on half (1/2) of the first month’s rent of the apartment, house, or property.
Security Deposit: A refundable security deposit will be required based on credit screening results. This payment can be in the form of a money order, personal check or credit card made payable to the property. Security or any other deposit amount may not be applied to rental payments.
Application Declined: If the application is declined, the applicant will be notified, and the security deposit will be refunded in accord with state regulations for deposit monies. The application fee is non-refundable. If your application is declined or is accepted with conditions, you will be given the name, address and telephone number of the consumer reporting agencies providing the consumer information to us. Any applicant declined for unsatisfactory credit is encouraged to obtain a copy of the credit report, correct any erroneous information that may be on the report and submit a new application to this community for further consideration.
Application Cancelled: If for any reason applicant cancels the application prior to 48 hours, a refund of the security deposit will be processed, but the application fee and processing/administrative fee are non- refundable and will be forfeited for liquidated damages. If for any reason the applicant decides not to lease the apartment after 48 hours, the application fee, processing/administration fee, and security deposit are non-refundable and will be forfeited for liquidated damages.
Fraudulent applications will immediately be rejected, and the applicant will not be entitled to submit a corrected application. Any monies paid will be retained by Management. If we discover that the information on the application is fraudulent or contains false or misleading information after you move into your unit, we will have the right to terminate the lease immediately and file an eviction or dispossessory action in order to obtain possession.
Move-In Date: Applicants agree that the move-in date will be determined upon approval of the application. If both applicant and management agree on the date of move-in and the apartment, house, or property is ready for move-in, the rental payment will commence on that date whether the applicant has moved in or not. Should apartment, house, or property not be available on the agreed upon move-in date, an alternative apartment, house, or property of the same type and same rental rate will be chosen by management if available. If not available, an alternative move in date will be rescheduled. Any changes to this date must bein writing and agreed upon by both parties.
Qualification Requirements: All applicants must be at least 18 years of age. All non-dependent leaseholders or non- dependent occupants of legal age must fill out an application and are considered to be applicants. Credit history, income/employment, and criminal history are verified for all applicants. All information provided must be accurate and complete, as well as verifiable. All occupants of legal age must be a leaseholder unless dependency status can be verified
Identity and Age Verification: Government issued photo identification will need to be presented by all applicants. A verifiable social security number will be required on all applicants or for international applicants you must provide a valid passport, visa, or work release paperwork including a valid picture ID before screening. If applicant does not have any of the above listed items, they will be declined. A tax ID number may not be used in lieu of the above documentation or a valid SSN.
Employment: Applicant must provide proof of income within 48 hours of completing an application such as paycheck stubs (a minimum of 2 bi-weekly, 2 bi-monthly, or 4 weekly paycheck stubs or 1 month pay equivalent). The paycheck stubs must be the most recent pay stubs and must be consecutive. A verifiable employment offer letter will only be accepted from companies that are publicly traded or verifiable through Secretary of State Office. If applicant is self- employed or paycheck stub does not show a YTD amount, two most recent individual tax records or three most recent, consecutive personal bank account statements meeting income requirements will be accepted in lieu of paycheck stubs. Attending school will be accepted as an alternative to being employed, but applicant must meet criteria with regards to rental history, credit and show source of financial support to meet our income requirements.
Resident History: Any applicant showing a rental debt, poor rental history, or eviction will be reviewed by management and may result in Management declining the application. Source of rental history may not be from an individual unless proof of payment can be shown for a sequential 12-month period in the form of cancelled checks and/or bank records. For persons owning a home, ownership or review of mortgage history from the credit report will serve in place of rental history. For an applicant to be approved without further resident history review, proof of rental history must be provided for a minimum of 12 months with no derogatory payments. Any previous landlord debt cannot have occurred within the last 12 months.
Pets: No resident is permitted to have a pet without executing a pet addendum. All pets must meet the pet restrictions, a copy of which is available upon request. All pet fees or other amounts associated with having a pet must be paid as stated on the pet addendum. A non-refundable pet fee is required prior to move in for each pet. Except for the pet(s) described, Resident shall not keep any other pet or offspring of this pet on the property. BIH prohibits the following Canine breeds, including: Afghan Hound, Akita, American Staffordshire Terrier (Pit Bull Family), Basenji, Bedlington Terrier, Bernese, Elkhound, Fila, Bull Mastiff, Chow Chow, Doberman, Dogue de Borduex, German Shepherd, Great Dane, Mastiff, Pit Bull, Presia Canario (Pit Bull Family), Rottweiler, Saint Bernard, Chinese Shar-Pei, Giant Schnauzer and American Bully, except for assistance animals. BIH reserves the right to prohibit aggressive breeds of dogs not listed above based solely on their discretion. BIH policy is to grant all requests for reasonable accommodations that are reasonable and necessary to afford a disabled resident full use and enjoyment of the premises. BIH will grant a reasonable accommodation request that includes a restrictive breed, provided the request is reasonable and necessary. An assistance animal is not a pet and no pet fees will be charged.
Credit: BIH contracts with a 3rd party company to handle all credit and criminal background screenings. A complete credit history from a national credit bureau is utilized. Each property that BIH owns or manages has the admissions criteria set forth in the Credit and Admissions binder.
*Any open case by an applicant Bankruptcy will result in automatic denial.
*Guarantor will be required on all applicants below the credit score criteria
Occupancy Standards: One bedroom: no more than two occupants; two bedrooms: no more than four occupants; three bedrooms: no more than six occupants.
Vehicles: To allow maximum use of our parking areas, vehicles are limited to a maximum of TWO (2) cars per apartment or ONE
(1) car per bedroom whichever is greater. All vehicles must be registered with management. Boats, jet skis, recreational vehicles, trailers, and cars/trucks with company logos (this is not an all-inclusive list) will not be permitted on the property without management’s prior written approval. If approved they must be parked in an area designated by management. Parking areas are for “parking only” and may not be used for performing maintenance on vehicles.
Utilities: Utilities are the financial responsibility of the leaseholder from the time of possession, unless the property includes utilities. Any utilities not transferred into the resident’s name will not be the burden of BIH. Additionally, rent payments will not be applied to rent from any resident having a past due balance on utilities. All utilities will be scheduled to be disconnected upon residents move in date by BIH office staff.
Security: Although management may install security camera’s or alarm systems, these are not considered to be security system for the resident but to protect the property of BIH. Therefore, residents must acknowledge that management does not offer or provide security services for resident’s protection or protection of resident’s personal property. Resident acknowledges that he/she has an obligation to exercise due care for his own/her own safety and welfare.
Equal Housing Opportunity: Bane Investment Holdings, LLC., the management company and owner, and adheres to the Fair Housing Law (Title VIII of the Civil Rights Act of 1968 as amended by the Housing and Community Development Act of 1974 and the fair Housing Act of 1988) which stipulates that it is illegal to discriminate against any person in housing practices on the basis of race, color, religion, sex, national origin, disability, or familial status. Rental rates are affected by market conditions, incentives and other factors. BIH guarantees that similar apartment, house, or property will be rented at the same rate. The rental rate quote is associated with the apartment, house, or properties availability at the time of the quote, move in date and lease term requested. Any revisions or changes to the time of the quote, move-in date, or lease term may require a revised quote which may result in a different monthly rental rate.