RentLinx



Sterling Management

This procedure applies to all new applicants. For transfers within the community please refer to the Community Transfer P & P.

• Employment History – Rent to Income Ratio (ability to pay rent)

• Program Eligibility Requirements Including maximum income restrictions

• Landlord Verification

• Credit History

• Criminal History

• Occupancy Standards

• VAWA Guidelines

1. ABILITY TO PAY RENT:

In determining income eligibility, please use the following:

Section 42 – 3 times the monthly market rent (non-taxable income is 2.5 times)

Section 42 Senior– 2 times the monthly market rent

Conventional – 3 times the monthly market rent

For those applicants with rental assistance (i.e., Section 8 certificates and vouchers) income

eligibility is determined by including the voucher value as part of the total income. In addition,

full voucher recipients qualify at 2 times the monthly rent.

Employment History:

Third-party written verification of all income sources will be required to determine resident eligibility. Sources of income verification include: alimony/child support, employment, other income, pension benefits, self-employed affidavit, social security income (SSI), unemployment benefits, student loan/grant verification, and welfare benefits (AFDC), etc.

You must provide your last 2 pay stubs, (4 paystubs for home designated units) plus have your employer complete our Employment Verification form. If you are transferring from another state for a new job, you will need to provide your written offer letter from your new employer and one full paystub as verification.

2. PROGRAM ELIGIBILITY REQUIREMENTS:

Income:

Third-party written verification of all income sources will be required to determine resident

eligibility. Sources of income verification may include: employment, alimony/child support, self

employment, pension benefits, social security income (SS & SSI), unemployment benefits,

student loan/grant verification, and welfare benefits (TANF), etc.

Asset Verification:

Third-party written verification of all asset sources will be requested and reviewed to determine

resident eligibility. Sources of asset verification may include bank (savings, checking, C.D.’s,

etc.), stocks and bonds, real estate, etc.

Student Status:

Third party written verification of student status may be required based on the full time student rules of the Section 42 program. If all members of the household are full time students, then the household will need to meet one of the 5 exceptions permitted by the program.

Senior Housing Developments Only:

Elderly is defined, for the purpose of this Allocation Plan, as those persons 55 years of age or

older on or before the date of initial occupancy. No less than 80% of the housing units shall be restricted for and solely occupied by at least one resident in each unit that is 55 years of age or older, and all other residents in those units must be 45 years or older. (Owners considering and/or receiving an allocation under this set aside should be familiar with the Housing For Older Persons Act (an amendment to the Fair Housing Act) and the Implementation of the Housing For Older Persons Act Final Rule).

Special Preferences:

Some of our developments have been assigned special designations, which would include, but

are not limited to, units set aside for homeless households, developmentally or physical

disability, and others.

3. MAXIMUM INCOME RESTRICTIONS:

Gross annual income and asset calculations cannot exceed the specific percentage of the

program that is applicable to that apartment and resident (such as an affordable housing

program). The applicant will be notified upon application regarding the specific requirements for

the program they are applying.

4. LANDLORD VERIFICATION

Applicant must provide address information for the last 2 years. The following criteria will be used to determine your eligibility.

1. First time renters or applicants without 2 years of verifiable, positive rental history will be required to pay an additional deposit. Refer to property Application & Move-In Checklist for amounts.

2. Any instance of leaving a prior residence owing a balance

3. Any eviction from a prior residence with an unacceptable justification

4. Any landlord verification form returned where the landlord states that the applicant and/or family members or guests were destructive and/or disruptive to the apartment or surrounding areas. Verbal Verification of Landlord utilizing Landlord Verification Form is acceptable.

5. Late payments exceeding 25% of total payments during the past year (over 3 late payments in a 12-month period), or being filed on in court for eviction may result in an additional deposit being required or the applicant being denied.

5. CREDIT HISTORY

The applicant’s credit report will be reviewed to determine the history of their payment practices including utilities, outstanding loans, judgments, repossessions, foreclosures, bankruptcy, etc. The following specifications will be used as a benchmark in reviewing credit reports:

• Addresses will be verified against the Rental Application

• Place of Employment and employment dates will be verified against the Rental Application

• Credit History will be reviewed as follows:

o Credit scoring is calculated using CoreLogic

o Approvals range from 100 points and up based on the asset type (refer to Price Advice for specific guidelines and eligibility)

o Exception 1: Applications with Section 8 vouchers that equal 100% of the rent can have the minimum credit requirement waived if:

▪ Rental history is positive

▪ Credit report is free of outstanding utilities and/or collections from creditors.

o Any collection from an apartment community is an automatic denial.

6. CRIMINAL HISTORY

Criminal Background checks must be conducted on each applicant over the age of 18. A decision will be automatically generated by CoreLogic based on the criteria Sterling has set forth. Criminal overrides can only be approved by the Director of Management. In order to request an override, the application and reason for the override request must be sent to her via email. At Sterling, we regularly audit the sex offender database.

7. FOREIGN APPLICANT PROCESSING

This manual processing must be used for all non U.S. citizen applicants.

• Previous Residency Checks – Written verification in English.

• Every applicant is required to have a SS or ITIN number which should be used when processing their application in Core Logic.  ITIN number are provided to all students and foreign residents who are working legally in the US. Applicant must have a photo ID to match to the name on the SS or ITIN card.

• Every applicant is required to have a valid photo I.D. (International Passport or State I.D.).

• Valid School I.D. - If applicants are attending a local university, the school must provide letters that confirm enrollment in a specific program. In addition, the applicant must provide a written letter and the office staff must verify active enrollment with the university.

• A Double Security Deposit is required for all applicants processed this way.

8. OCCUPANCY STANDARDS

In determining initial eligibility, the suggested number of persons to occupy an apartment is as follows:

One Bedroom Apartment: Two (2) persons

Two Bedroom Apartment: Four (4) persons

Three Bedroom Apartment: Six (6) persons

Four Bedroom Apartment: Eight (8) persons

In addition to the 2 person per bedroom guideline above, 1 additional person can be added for common area space in the apartment.

However, occupancy standards will conform with any state and local laws governing this issue.

10. VIOLENCE AGAINST WOMEN ACT (VAWA) GUIDELINES

The Violence Against Women and Justice Department Reauthorization Act of 2005 and 2013 protects victims of domestic violence, dating violence, sexual assault, and stalking. This protection is for all individuals regardless of sex, gender identity, or sexual orientation.

1) An applicant cannot be denied admission or denied assistance because they are or have been a victim of domestic violence, dating violence, sexual assault, or stalking.

2) A tenant may not be denied assistance, terminated from participation, or be evicted because they are or have been a victim of domestic violence, dating violence, sexual assault, or stalking.

3) HUD-5380 Notice of Occupancy Rights under VAWA will be distributed at time of move in which outlines the protections and guidelines for the Violence Against Women Act.

4) HUD-5382 Certification of Domestic Violence, Dating Violence, Sexual Assault, or Stalking will be attached with the HUD-5380 form.

5) Owner/management responding to an incident of actual or threatened domestic violence, dating violence, or stalking that could potentially have an impact on a tenant’s participation in the housing program may request in writing that an individual complete, sign and submit with in 14 business days of the request, the HUD approved Certification form.

11. WAITING LIST PROCEDURES

1) Applicant will complete the Resident Rental Housing Application and pay the application fee.

2) Credit and criminal checks will be processed.

3) The Resident Rental Housing Application will be used to pre-determine income qualification.

4) The Applicant’s information will then be placed on the Waiting List Document, with any preferences noted.

5) The Applicant will be added to Yardi and assigned a Wait List Unit.

6) Applicant will be notified when a unit becomes available, and the file will be processed.

12. UNIT TRANSFER PROCEDURES

1) The following criteria must be met prior to being eligible for a transfer:

a. Initially qualified to occupy low-income unit

b. Annual effective date remains the same

c. See Compliance Transfer P&P for additional guidelines.

2) Resident must have on time payments in order to allow a transfer

3) A unit inspection will be completed in order to ensure the unit is clean and free of damage beyond normal wear and tear in order to allow a transfer.

4) A transfer fee may apply

5) If a unit is not available, household will be placed on the wait list.

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Applicant’s Signature Date

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Applicant’s Signature Date

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Agent for Owner Date

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