RENTAL SCORING
Quantum Residential uses a score-based system to evaluate potential residents. The rental scoring process provides an objective and consistent review of relevant applicant information allowing for real-time approvals or denials of rental applications.
Rental score results are from a mathematical analysis of information found in your consumer credit report, application, and previous rental history. The consumer credit report may include payment history, number and type of accounts, collection activity, outstanding debt, and inquires. In addition, the rental scoring process may consider information such as income to rent ratio, previous eviction and subprime credit records. Note that your rental score does not include or otherwise reflect any criminal records. The rental score represents an estimated risk level as compared to other applicants. Rental scores, much like credit scores, represent a range of numbers. The higher the number the lower the risk level, and conversely, the lower the number the higher the risk. Because your rental score is based upon real data and statistics, it is more reliable than subjective methods of evaluating your information.
WHAT FACTORS CAN NEGATIVELY IMPACT YOUR ABILITY TO BE APPROVED?
OCCUPANCY POLICY
GENERAL STATEMENTS
INCOME REQUIREMENTS
EVICTION HISTORY CRITERIA
Five years of eviction-free history is required. Eviction actions that were dismissed or resulted in a judgement for the applicant will not be considered.
RENTAL HISTORY REQUIREMENTS
CRIMINAL CONVICTION CRITERIA
Upon receipt of the Rental Application and screening fee, Owner/Agent will conduct a search of public records to determine whether applicant or any proposed resident or occupant has a “Conviction” (which means: charges pending as of the date of the application; a conviction; a guilty plea; a no contest plea), for any of the following crimes: drug-related crime; person crime; sex offense; crime involving financial fraud, including identity theft and forgery; or any other crime if the conduct for which applicant was convicted or is charged is of a nature that would adversely affect the property of the landlord or a tenant or the health, safety or right of peaceful enjoyment of the premises or residents, the landlord or the landlord’s agent. Owner/Agent will not consider a previous arrest that did not result in a conviction or expunged records.
If applicant, or any proposed occupant, has a conviction in their past which would disqualify them under these criminal conviction criteria, and desires to submit additional information to the property along with the application so that the community can engage in an individualized assessment (described below) upon receipt of the results of the public records search and prior to a denial, applicant should do so. Otherwise, applicant may request the review process after denial as set forth below, however, see item (C) under “Criminal Conviction Review Process” below regarding holding the unit.
A single conviction for any of the following, subject to the results of any review process, shall be grounds for denial of the Rental Application.
a) Felonies involving: murder, manslaughter, arson, rape, kidnapping, child sex crimes, or manufacturing/distribution of a controlled substance.
b) Felonies not listed above involving: drug-related crime; person crime; sex offense; crime involving financial fraud, including identity theft and forgery; or any other crime if the conduct for which applicant was convicted or is charged is of a nature that would adversely affect property of the landlord or a tenant or the health, safety or right of peaceful enjoyment of the premises of the residents, the landlord or the landlord’s agent, where the date of disposition has occurred in the last 7 years.
c) Misdemeanors involving: drug-related crimes, person crimes, sex offenses, domestic violence, violation of a restraining order, stalking, weapons, criminal impersonation, possession of burglary tools, financial fraud crimes, where the date of disposition has occurred in the last 5 years.
d) Misdemeanors not listed above involving: theft, criminal trespass, criminal mischief, property crimes or any other crime if the conduct for which applicant was convicted or is charged is of a nature that would adversely affect property of the landlord or a tenant or the health, safety or right of peaceful enjoyment of the premises of the residents, the landlord or the landlord’s agent, where the date of disposition has occurred in the last 3 years.
e) Conviction of any crime that requires lifetime registration as a sex offender, or for which applicant is currently registered as a sex offender, will result in denial.
CRIMINAL CONVICTION REVIEW PROCESS
Owner/Agent will engage in an individualized assessment of the applicant’s, or other proposed occupant’s convictions if applicant has satisfied all other criteria (the denial was based solely on one or more convictions) and:
(1) Applicant has submitted supporting documentation prior to the public records search; or
(2) Applicant is denied based on failure to satisfy these criminal criteria and has submitted a written request along with supporting documentation. Supporting documentation may include:
Owner/Agent will: