RAM Agreement

Please review the following information prior to proceeding to the online Rental Application

Rental Scoring & Your Rental Application

Many landlords rely upon “Rental Scores” to estimate the relative financial risk of leasing an apartment to you. In addition to estimating risk, rental scores are an objective and consistent way of reviewing relevant applicant information, and help speed the application approval process.

How is my rental score determined?

Rental scoring systems assign points to certain factors identified as having a statistical correlation to future financial lease performance. Your rental score results from a mathematical analysis of information found in your credit report, application, and previous rental history. Such information may include your bill-paying history, the number and type of accounts you have, collection actions, outstanding debt, income, and the number of inquiries in your consumer report. The final number, or rental score, represents an estimated level of risk as compared to the performance of other consumers in a range of scores.

Because your rental score is based upon real data and statistics, it is more reliable than subjective methods of evaluating your information. Rental scoring treats all applicants consistently and impartially. Additionally, your rental score never uses certain characteristics like– race, color, sex, familial status, national origin, or religion– as factors.

What makes up your risk profile?

Landlord-Tenant Court Filings & Evictions – Filings for failure to pay rent and/or judgments from apartment communities.
Consumer Subprime Credit – Includes businesses interacting with high-risk consumers: negative payday loans, rental purchase stores, subprime auto loans, cable companies, etc.
Bankruptcy – Bankruptcies filed by the residents.
Property and Lease Specific Information– Rent amount, deposit amount
Public Records– Lawsuit
Payment Behavior – Analysis of timeliness and frequency of payments on outstanding debts or bills.
Past Due Accounts – A loan payment that has not been made as of its due date.
Current Accounts – A loan payment that has been paid on time and as agreed.
Collections Accounts – Debts that have been turned over to attorneys or collection agency for recovery.
Credit History– Record of a borrower’s payment behavior that reflects his or her ability to repay a loan.
Credit Quality – Estimates the credit worthiness of an individual. It is an evaluation made by credit bureaus of a borrower’s overall credit history.
Credit Quantity – The amount of credit tradelines.

What factors could negatively impact my score?

High debt load – if your debt load is equal to or higher than your monthly income.
Credit History, Quality and Quantity – little or no credit.
Payment Behavior – late bill payments and not paying down outstanding balances.
Collection Accounts – utility, apartment, and other housing related collections. Medical Debt is not included in your score.
Landlord/Tenant Court Filings & Eviction – are the most heavily weighted factors within the scoring model.
Bankruptcies – Has the bankruptcy been discharged, was debt reduced and is behavior improved?
Public Records
Consumer Subprime Credit

Where can I have my score explained?

Should your application be denied based upon your rental score, you can learn which factors most negatively influenced your score by contacting the consumer reporting agency listed below. Additionally, you can obtain a free copy of your consumer report, if you make the request to the consumer reporting agency within 60 days of the dial.

Grounds for Denial

Applicants will be denied if they do not meet the community owner’s screening criteria. Applicants may also be denied for any and/or a combination of any of the following reasons:

  • Criminal Background: A criminal background check will be run on all applicants. An applicant’s criminal background will be assessed. Convictions of certain felonies may be grounds for automatic denial of an application. Other convictions will be assessed in light of the specifics and timing of the conviction. An automatic denial will also occur should an applicant appear on the list of known terrorists and wanted fugitives as provided by the Office of Foreign asset Control (OFAC), federal agencies to include the FBI or other state and local law enforcement agencies.The applicant agrees that the lease shall be terminated in the event the applicant, after moving onto the property, is convicted of a felony or misdemeanor for a crime against a person, another person’s property or against society, and/or appears on the list of known terrorists and wanted fugitives. Note: This requirement does not constitute a guarantee or representation that residents or occupants residing at this apartment community have not been convicted of a felony or are not subject to deferred adjudication for a felony.
  • History of paying rent late or poor rental background as evidenced by credit report.
  • Derogatory credit report.
  • History of property damage to apartment/townhouse/home or common areas as evidenced by credit report.
  • History of violence and interference with management’s duties and responsibilities as evidenced by police reports, and / or criminal background checks.

Applicants will not be denied on the base of race, color, religion, national origin, sex,  or familial status.

I have read and agree to the terms outlined in the Scoring Criteria and Grounds for Denial
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