Tenant Selection Criteria

WALDVOGEL COMMERCIAL PROPERTIES

TENANT SELECTION CRITERIA

 

APPLICATIONS:  All applicants must meet the criteria for acceptance set forth in this Tenant Selection Criteria.  All Applicants are required to provide either a social security number or individual taxpayer identification number issued by the U.S. Internal Revenue Service in accordance with Section 55-248.4 of the Virginia Residential Landlord and Tenant Act.  In addition, all Applicants must sign the Agency Disclosure form as required be Virginia law.

Management complies with all federal, state and local laws including fair housing laws which prohibit discrimination based on any protected class under federal, state or local fair housing law or regulations, or the REALTOR® Code of Ethics.

INCOME:  The following guidelines are used in determining sufficient income requirements for Applicants:

  1. Gross income for single persons should be at least three times the amount of the rent.
  2. Combined gross income for married persons should be at least five times the amount of the rent.

All income must be verified through Applicant’s employer, or you must provide 6 recent pay stubs.  A signed release from Applicant may be necessary to obtain an employer verification.

CREDIT:  A credit check through a local credit agency is performed on all Applicants.  A history of good credit must be established.  Evidence of a history of poor or delinquent credit, absence of credit, absence of gainful employment or income to meet income requirements may be grounds for rejection of application.  Judgements or collections that appear on the report may be cause for rejection of Applicant. Any Applicant with a bankruptcy must show a discharge more than one year ago and have established new credit with a positive rating with at least one account.  In the discretion of the management, hospital related debt may not disqualify you if you have entered into a written payment plan and you are current with your obligation under the payment plan.

EMPLOYMENT VERIFICATION:  Applicant must provide two years of employment history.  If current employment history is less than 2 years, previous employment will be verified. Current and/or past employment will be verified, including salary, position, length of employment, and probability of continued employment (if employment history is not available, Applicant must have good credit history, rental reference, and current or new employment must be verifiable).

RENTAL HISTORY:  Two references are obtained from previous landlords, if possible, relative to payment history, length of rental agreement, amount of rent, damages, and violation history.  If Applicant is breaking an existing rental agreement, it must be determined what liability the Applicant has under the current rental agreement, which may affect the Applicant’s ability to pay current rent.  Any adverse information relating to these areas is grounds for rejection of Applicant.

  1. You will be denied if you have a record of being late in paying rent two or more consecutive times or more than four times collectively.
  2. You will be denied if you have a record of material noncompliance with the rental agreement, rules and regulations, or applicable local, state or federal laws.
  3. You will be denied if you have an unsatisfied collection and/or judgement with a previous landlord, or have any evictions from previous housing.

AGE:  All persons age 18 and older must complete an Application for Residential Lease, and qualify individually as a Tenant.

INFORMATION VERIFICATION:  Applicant will be asked to provide verifiable information or documentation to support Application.  These may include, but are not limited to, “Leave & Earning Statements”, pay stubs, evidence of taxes paid in past years, personal identification, or notarized confirmation of employment.  Failure to provide such documentation may be grounds to reject Applicant.

GUARANTORS:  Guarantors may be accepted for those applications where the Applicant has insufficient income or other credit deficiencies as determined by management.  All guarantors should be residents of the Commonwealth of Virginia.

PREPAID RENT: If Applicant has insufficient income or other credit deficiencies, Landlord may offer Applicant a lease upon the condition Applicant pay prepaid rent or an increased security deposit.

CAREGORIES OF DISAPPROVAL:  The following actions by any occupant of a household shall be grounds for disapproval of Applicant:

  1. Tenant Selection Criteria:  Applicant’s failure to meet any of the Tenant Selection Criteria may be cause for rejection.
  2. Violent or Disruptive Behavior:  A history of violent or disruptive behavior of such a type that would endanger fellow tenants, staff, or visitors, result in damage to property,  or disrupt the quiet enjoyment of property by tenants.
  3. Criminal convictions:  A criminal check through a local agency may be performed on all Applicants with approved credit.  An Applicant will be denied if convicted of any crime of moral turpitude or a crime which poses a direct threat to the health or safety of others within the past seven (7) years.  Such crimes shall include but may not be limited to:
    1. Any felony conviction;
    2. Any crime involving the use of a firearm, other weapon or explosives;
    3. Any arson;
    4. Any robbery or theft;
    5. Any terrorism-related conviction;
    6. Any drug-related conviction;
    7. Any prostitution-related conviction;
    8. Any sex-related conviction, and/or any Applicant who is subject to any sex offender registration requirement:
    9. Any kidnapping or abduction;
    10. Any cruelty to animals-related conviction;
    11. Any misdemeanor conviction involving a crime against persons or property, or a crime involving moral turpitude; or
    12. The active status on probation or parole resulting from any of the above convictions.
  4. Drug or Alcohol Use:  Any current use of an illegal drug will be grounds for rejection of an Applicant.  Any evidence of alcohol abuse that manifests conduct that poses a threat to health and safety of other residents will be grounds for rejection of application.  Any report of having sold or used a controlled substance will result in rejection.
  5. Inadequate Housekeeping:  Any history of inadequate housekeeping will be cause for rejection of an Applicant, this generally includes any conduct, inaction, or neglect which could result in health or safety problems or in damage to the premises or any equipment, appliances, or other items therein.
  6. Misrepresentation:  Supplying false, misleading, or inaccurate information or omitting information shall be grounds for disapproval.