At a Glance
- Sufficient Income: 3x monthly rent
- Debt-to-Income: Below 20%
- Credit Rating: low to mid 700s preferred
Below you will find the criteria we use in evaluating and selecting a new tenant.
Capacity to pay: Does the prospective tenant have enough income to afford to the rent and other expenses?
Documentation needed may include: recent paystubs/bank statements showing steady and predictable income at least 3x the monthly rent.
Credit worthiness: Does the prospective tenant have good history of paying bills on time, and is their debt to income ratio low enough that they can afford your rent?
Documentation needed may include: credit report (pulled with rental application).
Personal Integrity: Does the prospective tenant have a civil records history that would influence the type of renter they would be, including any history of previous eviction, owing money to previous landlords or poor landlord references due to payment or behavioral issues?
Documentation needed may include: rental history screening with at least one previous landlord/property manager and criminal records (pulled with rental application).
Contractual Integrity: Has the prospective tenant fulfilled previous contracts in a timely and complete manner? This can include information from landlords on lease violations, but also info from screening reports on payments and collections.
Documentation needed may include: rental history screening with at least one previous landlord/property manager and criminal records (pulled with rental application).
Criminal Record & Eviction History
We perform an individualized assessment of any adult with a criminal eviction to determine whether a business reason exists to deny tenancy. We consider the nature and severity of the offense, the number and type of convictions, the time that has elapsed since the conviction, evidence of good tenant history before and after conviction, any additional information showing rehabilitation, good conduct, or other factors that you would like us to consider.
Application Denial or Adverse Action Notice
In the event we deny an application, or any other form of adverse action is taken against the applicant including requiring an additional deposit, a qualified guarantor, or increased monthly rent, we provide an Adverse Action Notice. This notice informs you of the basis for denial of tenancy, as well as providing contact information for you to obtain a copy of your screening report.
FABIO, LLC 