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1106 Hooks St. Waco, TX 76705 Phone: 254-477-6210 TTY: 711
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Rental Criteria

Criteria & Qulifications

Please ensure you read carefully and be aware of all criteria before you apply.

Fair Housing statement: Strategic Properties adheres to The Fair Housing Act. Title VII of the Civil Rights Act of 1968 (Fair Housing Act), as amended, prohibits discrimination in the sale, rental, and financing of dwellings, and in other housing-related transactions, based on race, color, national origin, religion, sex, familial status (including children under the age of 18 living with parents or legal custodians, pregnant women, and people securing custody of children under the age of 18), and handicap disability. The following qualification standards will be required from every prospective resident.

An application must be completed for each occupant who is eighteen (18) years of age or older who will be living in the apartment. Application fees, if applicable, will be collected for each application before an application is processed.

Identification: Each applicant must provide a valid, government-issued photo ID. This community may utilize an Identity Verification service and information from this service may be used in determining approval or denial of your application

Non-citizens: Applicants who are citizens of another country must provide (1) a passport; (2) the INS document that entitles the applicant to be in the United States; and (3) proof of employment in this country. This community might ask to make a photocopy of any of the applicant's INS documents, passport, and visa. In addition, for applicants who do not have credit history in this country, this community might accept, in lieu of the credit requirements, an additional deposit equal to one month's market rent, unless otherwise expressed in writing by management.

Occupancy Standards: No more than two (2) persons per bedroom or sleeping space shall be permitted to occupy an apartment. A child or infant who is under the age of twenty-four (24) months at the time of leasing or renewing an existing lease will not be counted in determining the maximum number of persons who may occupy an apartment. Residents who exceed the occupancy restriction are not required to move to a larger apartment until the end of their current lease or renewal term. Other factors may be considered such as square footage of the apartment, layout, and configuration of the apartment.

Rental History: Information regarding payment and rental history of each applicant will be collected to verify tenancy and payment history. 6 months favorable rental history required. If unable to verify, application could be subject to approval with conditions. A previous eviction could result in an application being denied. Any unpaid rental debt will automatically be denied.

Employment History: Strategic Properties may confirm employment dates, position, and reported salary level.

Income: All applicants must have a combined verifiable source of funds in an amount in accordance with current community requirements not less than 2.5 times the rental rate or applicant’s portion, if applicable. Applicants must have a combined gross income source that can be verified and meets the minimum income requirements for the apartment being leased, which are determined by multiplying the monthly rent by 2.5 or a specified factor of months as determined by the community. Applicants will be required to provide income verification. The income verification can include but is not limited to, the 2 most recent pay stubs from the employer or payroll company, or a verifiable offer letter, and/or federally subsidized vouchers,I-20 Form for students ,but only if and to the extent their acceptance is mandated by state or local law where the community is located. If self-employed, we may require the most recent W2, the most recent tax return. All proof of income documents must be presented during the application process for the application to be considered complete. This community may use an income verification tool to help expedite the application processing time and to detect fraud. Applicants will be able to directly link to a financial institute, including Venmo, and PayPal, and several other options, or a direct link to your payroll provider. Applicants will also be given the option to upload 2 documents for review.

Credit History will be verified by a third-party verification service. A complete credit history from the credit bureau is required. Income plus verified credit history will be entered into a scoring model to determine rental eligibility and security deposit levels. An unsatisfactory credit report can disqualify an applicant from renting an apartment for past or current bad debts, late payments or unpaid bills, liens, judgments, or bankruptcies. If an applicant is rejected for poor credit history, the applicant will receive a written notice of the denial that states the reasons for the denial. An applicant will be rejected if any information provided in the rental application is falsified or inaccurate.

The following deposit requirements will be applied based on scoring model recommendations:
• Accept: Standard Deposit = $150 for 1 bedroom, $250 for 2 bedrooms, $350 for 3 bedrooms.
• Conditional: Double Deposit up to 1 month’s rent or non-refundable risk fee.

CRIMINAL HISTORY: Strategic Properties conducts background screening on all applicants and occupants that includes criminal background screening. It is possible an application may be denied due to criminal conviction history. Depending on the nature of the crime committed, how long ago that occurred, the specific facts involved, likelihood of someone committing another crime, and other factors, you may not be able to live on our property. Strategic Properties has the right to perform a criminal background search of each person who will be a resident or occupant of the apartment community and may not allow persons who have a recent criminal history to live in the community. Even if you have been a resident at our property prior to this time, if you are convicted of a crime since the time you moved in or reapplied, it could result in denial of your application. If your application is denied because of a criminal history, you will be notified, and afforded an opportunity to dispute that you are the person identified in the search; that the records are inaccurate; or provide us with your own statement and explanation of what occurred and why we should review the decision to decline your application. When requesting such a review of your application, you should submit a signed and dated statement or other evidence that provides us with a basis for the review. If you dispute the denial because your name has been confused with another person who committed the crime or your name was used for identity theft, it will be your responsibility to contact the consumer reporting agency that provided the information and take appropriate steps to correct your credit file.

Animals must be approved through Pet Screening ®. During the application process, all applicants will receive an email to register and update pet status for all pet and non-pet owners. Pet owners will complete the Pet Screening application ® along with the annual registration fee of $25. Animals must have proof of current vaccinations and breed documentation. A maximum of two (2) pets are allowed per apartment. No weight limit but we do have breed restrictions. The following breeds and animal types are prohibited and are not accepted: dog breeds – Pit Bull Terriers, Chows, Doberman, Pinschers, Rottweilers, Huskies, and any other breed generally considered aggressive or deemed aggressive by state or local officials. A pet interview may be required, and any aggressive behavior can result in denial of the pet. Aquarium pets or fish are allowed without the payment of a pet deposit; however, they are only permitted if they are exclusively aquarium pets, and the aquarium is no more than 20 gallons. Exotic animals are prohibited, including, but not limited to rodents, rabbits, and ferrets.
Non-Refundable 1x Pet Fee: $250 for 1 pet and, 2 pets $450
Monthly Pet Rent per pet: $20

Service/Assistance Animals: Strategic Properties will provide reasonable accommodation for service animals and other assistance or support animals, in accordance with applicable federal and state local laws. Strategic Properties will not impose an additional security deposit, rent, or fees related to a service or assistance or support animal. All Service/Assistance Animals must be approved through Pet Screening. During the application process, all applicants will receive an email to register and update pet status.

Application Agreement:
A nonrefundable application fee per applicant is required at the time of application. Applications will not be processed without payment. Application Fee: $75

Deposits: The deposit for the apartment will be due within 24 hours of approval or approval with conditions, unless your move in date is within those 24 hours. If the deposit is not paid, the application could be cancelled. Apartments will not be held off market without the deposit payment within the above-mentioned timeframe.

Completed Application: Your application will not be considered “complete” and will not be processed until we receive the completed application, including proof of income and application fee(s) paid in full.

If you fail to sign a lease after approval: Unless we authorize otherwise in writing, you and all co-applicants must sign the lease within 24 hours after we give you our approval in person, by phone or electronically. If you or any co-applicant fail to sign as required, your application may be deemed withdrawn, and we may keep the deposit as liquidated damages and terminate all further obligations under this Agreement.

Liability Insurance Requirements: Residents are required to have proof of $100,000 in lability insurance coverage before moving in. Details of the policy coverage will be provided on the welcome letter once an application is approved. Residents can use their own company or purchase a policy with our approved vendor. A $50 non-compliance fee each month will be applied to residents’ ledgers without proper coverage.

Cancellation after deposit has been paid: If the applicant cancels their move after approval or approval with conditions, we may keep the deposit as liquidated damages and terminate all further obligations under this Agreement.

Approval/non-approval. If we are unable to approve/conditionally approve your application within 7 days after the date we received the completed application, your application will be considered “cancelled.” Notification may be in person or by email, or telephone unless you have requested that notification be by mail. You must not assume approval until you receive actual notice of approval. Applications that are denied may reapply after 30 days and will be required to pay new application fees.

Non-sufficient funds and dishonored payments. If a check from an applicant is returned to us by a bank or other entity for any reason, if any credit card or debit card payment from the applicant to us is rejected, or if we are unable, through no fault of our own or our bank, to successfully process any ACH debit, credit card, or debit card transaction, then: 1. Applicant shall pay a charge of $50 for each returned payment; and 2. We reserve the right to refer the matter for criminal prosecution.

Falsification: Any falsification of information on the application automatically disqualifies the applicant or occupant and will result in the retention of any and all application fees, administration fees, and deposits.