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U.S. RESIDENTIAL MANAGEMENT RENTAL APPLICATION CRITERIA

Welcome to THREE FOUNTAINS III. Before you apply to rent an apartment in our community, we encourage you to review the following requirements to determine if you are eligible. Together with the Rental Application for Residents and Occupants (the "Application"), these criteria will govern your Application to our community. The term "applicant(s)" under these criteria means the person(s) who will be signing the lease as "resident"; the term "Occupant(s)" in these criteria means the other person(s) authorized to be occupants under the Lease. Some of our criteria apply to the applicants only; other criteria apply to all adult occupants. This is a guide to the rental requirements for our community. All applicants and adult occupants (those occupants of the age of eighteen (18) years of age or older) will be required to fill out an Application. Each applicant must provide government photo identification and allow it to be photocopied.

Please also note that these are our current rental criteria; nothing contained in these requirements shall constitute a guarantee or representation by us that all residents and occupants currently residing in the community have met these requirements. There may be residents and occupants who have resided in the community prior to these requirements going into effect; additionally, our ability to verify whether these requirements have been met is limited to the information we receive from the various resident credit reporting services used.

THE FOLLOWING ARE THE FIVE MAIN CRITERIA OUR COMMUNITY USES IN PROCESSING YOUR APPLICATION

  1. Employment History: All applicants must have a verifiable employment history of six (6) months, with copies provided of three of your most recent paycheck stubs. If you have been in a job Jess than six months, employment verification will be requested in the form of a letter of intent from your new employer. Affordable Housing applicants may be required to provide additional information.
  2. Income: Monthly income for all applicants must be three (3) times the current monthly market rent (before considering any specials that would affect the monthly rent). Applicants applying as roommates for the same apartment must individually meet 70% of the income requirement. Verification can include: pay stubs, written verification from income source or W-2 forms.
  3. Rental History: Rental history must be verifiable. Applicant must have a minimum of six (6) months of current rental history in good standing or one year of previous rental history in good standing. "In good standing" will be defined as no more than two (2) late payments not to exceed thirty (30) days past due, or no more than two (2) returned checks. If renting from a private landlord a copy of the lease contract is required with a current telephone number of the landlord for verification purposes. The resident must have given adequate notice to vacate and have no outstanding financial obligations to previous landlord. No evictions or rental debts will be accepted, and no applicant or occupant may have an unacceptable rental history.
  4. Credit: All applicants must have an acceptable credit history. Three good credit references and 30% overall positive credit history is required. Credit history must be at least six months or more. If bankruptcy has been declared, we require the bankruptcy to be discharged and new positive credit established. Should you have no credit history, approval in this field will be based on your rental history - see above criteria.

  5. Criminal: If any applicant or adult occupant has pending charges, a current indictment, and conviction or has received deferred adjudication for any felony or for the following criminal offenses listed below, the rental application will be rejected:
    1. Offenses classified by the Texas Penal Code, as an offense against the person, an offense against the family, arson, criminal mischief and other property damage or destruction, robbery, burglary and criminal trespass, theft, disorderly conduct and related offenses, weapons and firearms, public indecency, and intoxication and alcoholic beverage offenses;
    2. Offenses identified in the Texas Controlled Substances Act as a class a misdemeanor;
    3. Any other offenses involving any misdemeanor offense for which a person is required to register as a sex offender in the state of Texas;
    4. Any federal offenses or offenses in another jurisdiction classified in a category similar to those identified in this section.

    All applicants must meet four out of five rental criteria listed above before they will be considered for tenancy. Criterion one, two & five MUST be satisfied by all applicants, together with either Criterion three or four. Should you have no rental history at all (as opposed to a negative rental history) a deposit equivalent to one month's rent will be required. We may also consider an applicant who is in the legal process of foreclosure, but that applicant must meet Criterion one, two & five, as well as either Criterion three or four, and in addition pay an extra deposit in the amount equal to one (1) month's rent with the normal security deposit.



    HERE IS AN OVERVIEW OF OUR APPLICATION EVALUATION PROCESS

    1. A separate Rental Application must be fully completed, dated and signed by each applicant, as in all applicants and adult occupants (those occupants of the age of eighteen (18) years of age or older). Spouses can complete one rental application.
    2. The Rental Application will be reviewed when submitted to ensure we have all information needed to determine your eligibility. The approval process will begin when we have received completed applications from all persons 18 years of age or older (and emancipated minors). The approval process will result in one of three outcomes: pass, pass with conditions or fail. Additional deposits may be required if pass with conditions is recommended.
    3. Each applicant must provide a government issued photo identification at the time of application.
    4. Applicants who are first-time renters, students or who do not have sufficient income under our lncome requirements may qualify by having a lease guaranteed by a guarantor. The guarantor must have a gross monthly income of at least three (3) times the monthly rent and must meet all other qualifying criteria. The guarantor must complete, sign and submit a Rental Application, must meet all rental criteria and must complete and execute our Guaranty of Resident Obligations and a lease guaranty agreement. The lease may be guaranteed by a relative or employer. Any guaranteed lease will require a minimum deposit equivalent to one month's rent as a security deposit. Guarantors may be held responsible for the entire rent and other costs, such as damages, as long as you live at this property, even if you have roommates, even after the end of the initial term of the lease. For students, a guarantor may be used for any applicant who is a full-time student and who qualifies under these criteria for all but the Income, Credit and Employment criteria.
    5. Occupancy Standards. All applicants must be at least 18 years of age. All occupants must be listed on the lease. No more than two (2) occupants per bedroom. Notwithstanding the foregoing, a family may occupy a unit if the family does not exceed two persons per bedroom plus a child who is less than twelve (12) months old. Residents who have a new born less than twelve (12) months old at the time of rental application or lease renewal and residents whose newborn has reached twelve (12) months of age during the lease term may be required, at the time of the next lease renewal, to (1) move to another available unit which has more bedrooms, or (2) move out. For the purposes of this occupancy policy a "family" shall consist of the following persons: one or more individuals (who have not attained the age of 18 years) being domiciled with: (1) a parent or another person having legal custody of such individual or individualsĀ· or (2) the designee of such parent or other person having such custody, with the written permission of such parent or other person. The term "family" shall also apply to any person who is pregnant or is in the process of securing legal custody of any individual who has not attained the age of 18 years.
    6. In addition to not meeting our Rental Criteria above, Applicant(s) may be denied occupancy for the following reasons:
      • Falsification of application by any applicant.
      • Incomplete application by any applicant.
      • Rental history of:
      • Non-payment or frequent late payment of rent
      • Eviction
      • Drug Use
      • Poor housekeeping
      • Poor supervision of applicant's children
      • Unruly or destructive behavior by applicant, applicant's children or applicant's guests, or
      • Violence to persons or property by applicant, applicant's children or applicant's guests.
    7. ON MOVE OUT: You will be charge a $60.00 normal cleaning service charge on move out if not cleaning. If a heavy cleaning is necessary other charge will apply.
    8. Pet Guidelines: Pets (cats) will be accepted.There is a $600.00 non-refundable, one-time Pet Fee) that must be paid prior to the pet residing in the apartment. $10.00 monthly pet rent. All animal must be on a leash when out on the property. If not on a leash they must be otherwise restrained, either behind a fence or in some other enclosure.
    9. False Information: Any falsification of information on the application will automatically disqualify the applicant and all deposits and application money will be forfeited.
    10. Rental Insurance: All Resident must provide a copy of rental insurance.
    11. Vehicles. Limit two vehicles per apartment. A parking decal is to be displayed on resident vehicles. No recreational vehicles of any type will be permitted. Each apartment with record register vehicles in the office will be assigned one covered parking space. Must provide a copy of current vehicles insurance.

    This company and this community comply with all applicable fair housing laws including those that prohibit discrimination on the basis of race, color, religion, sex, national origin, handicap, or familial status. Applicant(s) and guarantors must give their consent to allow THREE FOUNTAINS III, itself or through its designated agents and its employees, to obtain a consumer report and criminal record information on each applicant or guarantor and to obtain and verify credit and employment information for the purpose of determining whether to lease an apartment to the applicant(s). The owner of THREE FOUNTAINS III and its agents and employees may obtain additional consumer reports and criminal record reports on each applicant or guarantor in the future to update or review the applicant(s)' account or for collection purposes. Upon request by an applicant, THREE FOUNTAINS III will tell applicant(s) or guarantor whether consumer reports or criminal record reports were requested and the names and addresses of any consumer reporting agency that provided such reports.

    ACKNOWLEDGEMENT OF RENTAL POLICY AND OCCUPANCY GUIDELINES


    I/we have read and understand the Rental Policy and Occupancy Guidelines of this apartment community.

    I/we authorize THREE FOUNTAINS III to verify all information on the rental application by all available means, including consumer reporting agencies, public records, current and previous rental property owners, employers and personal references. Re-verification or investigation of preliminary findings is not required.

    I/WE ACKNOWLEDGE THAT I/WE HAD AN OPPORTUNITY TO REVIEW THE PROPERTY'S RENTAL SELECTION CRITERIA, WHICH INCLUDES REASONS WHY MY/OUR APPLICATION MAY BE DENIED, SUCH AS CRIMINAL HlSTORY, CREDIT HISTORY, EMPLOYMENT HISTORY, CURRENT INCOME AND RENTAL HISTORY. I/WE UNDERSTAND THAT IF I/WE DO NOT MEET THE PROPERTY'S RENTAL SELECTION CRITERIA OR l/WE FAIL TO ANSWER ANY QUESTION OR GIVE FALSE INFORMATION, THE PROPERTY MAY REJECT THE APPLICATION, RETAIN ALL APPLICATION FEES, ADMINISTRATIVE FEES, AND DEPOSITS AS LIQUIDATED DAMAGES FOR ITS TIME AND EXPENSE, AND TERMINATE MY/OUR RIGHT TO OCCUPANCY.

    Please choose "I Agree" to continue to the application.


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