Income Requirements:

The income requirement is such that the monthly rent cannot exceed 35% of the tenants’ verifiable/documented monthly net income. (The amount the tenant takes home after all deductions)

See calculations based on sample monthly rents below.

·      Rent of $1,000.00, requires net income of at least $2,850/mo or $712/wk

·      Rent of $1,500.00, requires net income of at least $4,285/mo or $1,070/wk

·      Rent of $2,000.00, requires net income of at least $5,700/mo or $1,425/wk

Pay stubs or other verifiable documentation is required.

Prior Rental Payments:

Proof of 2 months’ recent rent payments of a rent amount of at least 85% of the amount of the apartment for which you are applying is required.

See calculations based on sample monthly rents below.

·      $1,000/mo apartment requires recent rental history of at least $850/mo

·      $1,500/mo apartment requires recent rental history of at least $1,275/mo

·      $2,000/mo apartment requires recent rental history of at least $1,700/mo

Copies of checks, electronic payments or other verifiable documentation required. We cannot accept handwritten receipts for cash payments unless accompanied by bank statements showing corresponding withdrawals.

Funds Required:

·      First Months’ Rent

·      Last Months' Rent

·      Security Deposit

o   We understand this is a lot and may be willing to allow some of the Security Deposit to be paid over a few months for an otherwise well qualified applicant.

*Please note: If you receive housing assistance, the income requirement will only apply to the portion of the rent you are responsible for. If you receive Housing Assistance and the program will not provide a Security Deposit, we still require a Security Deposit, so you will need to have those funds, as well as your share of First Month’s & Last Month’s Rents available