We will use these criteria to review your application:
- Credit and consumer report. We will review a consumer report, which may include your credit history, rental history, eviction history, and criminal history. A credit score of 570 or higher meets our credit requirement. A score below 570 does not mean denial. Instead, you can still be approved by paying a larger security deposit. Having no credit score at all is fine if you meet the other criteria. An open bankruptcy is grounds for denial. If anything in the report leads us to deny your application or approve it on different terms, you will receive any notice required by law.
- Occupancy Occupancy is limited to two people per bedroom. Everyone age 18 or older who lives in the home must be screened and on the lease.
- Household. Occupants must be members of a single household. No more than two adults may live in the home unless all adults are related by blood, marriage, or adoption. Each adult must attest to these relationships on the application.
- Payment of rent. We do not participate in the Housing Choice Voucher (Section 8) or other rental subsidy programs. All rent must be paid directly by the tenants on the lease.
- Income. The total gross monthly income of everyone applying must be at least three times the monthly rent. You will need to show recent pay stubs or other acceptable proof of income.
- Rental or mortgage history. You need at least 18 months of recent, satisfactory rental or mortgage payment history. If you have no rental history yet, for example if this is your first time renting, you may still qualify by paying a larger security deposit.
- Evictions, judgments, and unpaid balances. An eviction judgment, or another court judgment in favor of a landlord or property management company, within the past five years is grounds for denial. Money you still owe a previous landlord or property management company, as shown on a consumer report or verified rental history, is also grounds for denial, unless you pay it in full before the lease is signed. Eviction filings that were dismissed or decided in your favor do not count against you.
- Criminal history. We look at criminal convictions from the past seven years. Arrests without a conviction do not count against you. A conviction for an offense involving harm to a person or property, dishonesty or fraud, or making or selling drugs or marijuana is grounds for denial. Current registration on a sex offender registry is grounds for denial.
- Move-in funds and insurance. If your application is approved, you must pay the first month's rent and a security deposit equal to one month's rent before you get the keys or move in. Payment must be by money order, cashier's check, or another payment method we accept. We do not accept personal checks. You must also provide proof of renter's insurance with at least $100,000 in personal liability coverage before keys are released.
- Pets. If you will have pets in the home, monthly pet rent of $40 per pet applies, with a maximum of two pets.
We apply these criteria consistently to applicants in similar situations. Some details, like rent, deposits, and pet policies, can vary by property, so review the listing and application for the home you want before submitting.
Caballero Holdings, Ltd. complies with applicable federal, state, and local fair housing laws.
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