Property Management Tips | Charlotte and Winston Salem Property Management

Carolina Livng Rental Qualification Criteria

January 10, 2023 by admin

The Application Process.

The first step to renting a Sparrow home is filling out an application. We invite you to apply! All future residents are able to meet minimum employment and income requirements, and maintain a good rental and credit history. You’ll find an overview of these requirements below, and you can download complete detail at the link to the right. Review the information to decide if you’d like to apply. We hope you do!

Final qualification and approval is determined following review of your application.

Overview of qualification criteria

Income

Applicants must have a minimum combined household gross income of 3.0 times the monthly rent. To verify income, we require acceptable income documentation (summarized below) and may request additional supporting documentation!

Credit

A credit history will be completed on all applicants to verify credit worthiness. Income plus verification of credit history will be considered to determine rental eligibility and security deposit levels. Late payments, collections and charge-offs will be negatively scored. Open bankruptcies, eviction or collection actions or judgments will result in an automatic denial.

Criminal History

A criminal background check will be completed for each applicant and occupant age 18 years or older. The rental application will be denied for certain felony convictions up to ten (10) years prior to the application date, or any felony conviction for sex and terrorism related offenses regardless of time.

Rental History

Prior rental history will be verified. Rental applications will be automatically denied for current outstanding debt/civil judgment or eviction within the last five (5) years.