Welcome to the Lofts at the Mills Online Application
Statement of Rental Policy/Qualification Acknowledgment
In order to assist you with your decision on your new home, we are providing a list of guidelines used to qualify residents for residency in our communities. Nothing contained in these requirements shall constitute representation by South Oxford Management that all residents and occupants currently residing in our community have met or currently meet these guidelines.
FAIR HOUSING STATEMENT South Oxford Management and the Owner are committed to compliance with all federal, state, and local fair housing laws. It is our policy to comply with all laws prohibiting discrimination, including those that prohibit discrimination based on race, color, religion, national origin, sex, familial status, or disability.
IDENTIFICATIONApplicants must present a government issued photo identification card for all persons age 18 years and older that will be living in the apartment.
APPLICATION AND FEE A separate rental application must be completed, dated and signed by each applicant and any individual over the age of 18. All individuals 18 years of age, or legally considered an adult by law, are required to be made a party to the lease. Spouses may complete one application. A non-refundable application fee, deposit and/or bond are required at the time an application is submitted.
OCCUPANCY Unit occupancy shall not exceed 2 persons per bedroom. Children younger than six months are not considered occupants in determining this factor of eligibility. The Company will comply with applicable laws that require higher or lower occupancy ratios.
INCOME Individual applicants must have a source of income in an amount no less than two and a half times (2.5 times) the "market rental rate", or if 2 or more individuals over the age of 18 are applying to live in the same apartment home a combined income of 3 times the market rental rate. Acceptable Sources of Income may be any of the following: Thirty days (30) most current paycheck stubs. If applicant is starting a new job, the future position and salary must be verified in writing via an offer letter on company letterhead with the salary details and effective start date must be within 30 days of proposed move-in date. If applicants are selfemployed or receive money from non-employment sources, proof of income verification can be: (1) a copy of the previous year’s tax returns, (2) a financial statement from a CPA verifying income, or (3) photocopies of three most current bank statements illustrating the ability to pay rent through the entire lease term (2.5 times the rent times the lease term). Other income may mean, but is not limited to, alimony/child support, trust accounts, social security, unemployment, welfare, grants/loans or any sources of lawful income.
INCOME RESTRICTED If you are applying at an income restricted community please review the supplemental income exhibit for specific income qualifications.
RENTAL HISTORY Less than satisfactory rental history including, Evictions and/or Outstanding Debt to a previous Landlord may result in an automatic denial. Guarantors/Co-Signers cannot be a substitute for this requirement.
CREDIT HISTORY Our screening agency evaluates credit, debt to income and rental history against indicators of future rent payment performance. Any unsatisfactory finding may result in the requirement of an additional deposit, guarantor, or denial.
GUARANTORS Are accepted for everyone. All guarantors must have a combined source of income in an amount no less than Six (6) times the "market rental rate". If a guarantor is needed, they must meet the entire qualifying criteria as presented herein. The guarantor must pay an application processing fee and sign the Guarantor Addendum & Lease Agreement. The Guarantor must physically sign the lease either in the rental office or a notary. Guarantors are not permitted for applicants with evictions.
CRIMINAL HISTORY A criminal background screening will be conducted for all applicants including Felony and Misdemeanor
convictions and charges, and may result in denial. Guarantors/Co-Signers cannot be a substitute for this requirement.
PETS Pet restrictions vary at each community. If you have pets, please see your leasing representative for more information.
Rental Scoring and Your Rental Application
We rely upon a "Rental Score" 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 data, and previous rental history. Such information may include your bill-paying history, the number and type of accounts you have, collection actions, outstanding debt, 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, handicap, national origin, or religion as factors.
What can I do to improve my rental score?
Your rental score may change based upon changes of the underlying information. The total improvement, however, generally depends on how that factor relates to other factors considered by the scoring system. Nevertheless, to improve your rental score, concentrate on paying your bills on time, paying down outstanding balances, and not taking on new debt.
NOTIFICATION OF DENIAL OR CONDITIONAL APPROVAL
You have a right under the Fair Credit Reporting Act to a free copy of your consumer report from CoreLogic SafeRent, LLC, the reporting agency used by South Oxford Management to evaluate your background information if the request is made no later than 60 days after you receive notification of a denial or conditional approval. In evaluating your application, information obtained from or through CoreLogic SafeRent, LLC, which may include credit information or consumer information from one or more of the credit bureaus or consumer reporting agencies, may have influenced South Oxford Management, LLC decision in whole or in part. These consumer-reporting agencies and/or credit bureaus DID NOT make the decision to take adverse action and are unable to provide specific reasons why adverse action was taken.
Please choose "I Agree" to continue to the application.