KMS Management, Inc.

Resident Selection Criteria

Applicants must be at least 18 years of age and reside legally in the United States, either permanently or temporarily.

• All adult Applicants must complete separate Rental Applications and pay the non-refundable application fee.
• Government issued photo ID is required in conjunction with a valid Social Security Number to verify the identity of all Applicants and their status in the United States.
• Payment of the security deposit is required at the time of application to hold the apartment throughout the rental selection process and if approved, the Applicant’s taking possession of the apartment.

 In reviewing each rental application for approval or denial, the following factors will be taken into consideration for each Applicant:

 ABILITY TO PAY RENT:  

o   All current sources of monthly income (employment, assistance, child support, pensions, SSI, etc.) will be considered and must be properly verified.   

o   If applicable, the Applicant’s two (2) most recent pay statements (stubs) from any current employer must be provided.

o   Cash savings, liquid “cash like” accounts, and retirement accounts currently in use are applicable to “ability to pay”, provided a sufficient balance is confirmed by the most recent monthly account statement. 

o   Self-employed Applicants must provide additional documentation (previous year tax information, bank records, account statements, etc.) to establish monies available to pay monthly rent.

 

• CREDIT REPORT, PUBLIC RECORD & RENTAL REFERENCES:  Applicant’s credit report, credit score and public record will be obtained through an authorized credit bureau, as well as rental references for current and previous rental residences.  Poor credit, low credit score, collection balances, bankruptcy, foreclosure, eviction, judgments, liens and negative rental references can impact an Applicant’s application result. 

 

• CRIMINAL CONVICTION RECORD: All Applicants are subject to a complete criminal record search.   Certain criminal convictions may result in denial of the Applicant’s rental application based on; type and severity of the offense, when it occurred, the level of the conviction (felony, gross misdemeanor, etc.) and any sex offender registry requirements.

 

• COSIGNER APPLICANT REQUIREMENTS:

o   Prospective cosigners must complete a Rental Application and submit to background screening to assess their qualifications to guarantee a Rental Applicant’s monthly rent. 

o   Credit score of 700 or greater (based on FICO housing credit score - other credit score sources may be different)

o   As calculated by KMS, income and financial resources that exceed both a basic minimum based on the monthly rent amount AND sufficient to cover the cosigner’s TOTAL financial obligations, including all financial support for the Renal Applicant.

o   Approved cosigners will be added to the Lease Agreement and must sign the document.

 

NOTE: Failure to meet any of the criteria listed above may result in denial of a rental or cosigner application, or result in the requirement of additional deposit monies, advance rent or a cosigner.   Providing falsified, misleading, inaccurate or incomplete information may also result in denial of the application.

Per state and federal statutes, please direct all inquiries regarding the personal data obtained to:

Screening Report, Inc.   729 N. Route 83, Suite 321   Bensenville, IL 60106   

(866) 389-4042   Fax (866) 389-4043

Policy Date: September, 2019  (Site Operations/Rental Application Process)

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