Qualifying Criteria
Lakeshore Apartments does not discriminate on the basis of race, color, sex, religion, National origin, handicap, or familial status.
A rental application must be completed by every applicant and occupant who is over the age of 18 years. Each applicant must have a state issued driver’s license or state identification card. We will request a copy of your credit report, background verification, and references given by the applicant.
We reserve the right to discontinue the verification process of an application once negative information is found.
Application Fee: $50 per applicant, Administrative Fee: $125, Refundable and Non-Refundable Deposit
QUALIFICATIONS:
Residency: Two years of verifiable rental history is required. In addition, evidence of satisfactory payment history and sufficient notice of lease termination will be verified. Foreclosures within the last seven years are considered derogatory rental history. Mortgage verification will require six months of prompt payment or written verification from the mortgage company, if not reported to the credit bureau. First time renters must have a guaranty if all other criteria have been met.
Employment: You must be currently employed and/or provide additional source(s) of verifiable income that meet property income requirement. New employers, as well as previous employers, must be verifiable if moving from out of the area.
Credit: Your credit report will be reviewed; the majority of all credit that you have must be current and in good standing with each creditor. Any outstanding residential debt will be automatic denial. Any bankruptcies filed within the last five years will not be accepted. This community uses an empirically derived, statistically sound credit scoring system to evaluate your consumer credit report. Credit scoring is based on real data and statistics, so it treats all applicants objectively. Your consumer report contains information about you and your credit experiences such as your bill paying history, the number and type of account you have, late payments, collection accounts, outstanding debt, and the age of your accounts. Using a statistical program we compare this information to the credit performance of other applicants with similar profiles which allows us to predict how likely it is that you will pay your rent in a timely manner and fulfill other obligations. Based upon your credit score, your application will be accepted, accepted with conditions, or denied. If your application is denied or accepted with conditions, you will be given the name, address, and telephone number of the consumer reporting agencies which proved your consumer information to us. Returned checks for application fee and deposits may result in denial of application.
Co-Signers/Guarantors: Co-Signers are accepted only if applicant lacks 2 years of mortgage or rental history. The co-signer must fill out an application and will be subject to rental/mortgage verification, credit and criminal background checks. The co-signer will be required to provide proof of income at five times the effective rental payments.
Criminal History: Lakeshore Apartments will reject applicants with any felony conviction, adjudicated verdicts, and/or pending cases, misdemeanors, current indictments or pending charges for drug related charges, prostitution, firearm, or crimes against person or property. This applies to all resident or occupants (as defined in Chapter 481.000 of the State of Texas Health and Safety Code). Any past felony convictions will result in a declined application. In addition, any misdemeanor convictions in the past 10 years related to weapons, illegal drugs, crimes against a person or sex crimes will result in a declined application. All registered sex offenders will be declined.
Pets: Lakeshore Apartments is a pet-free community. Applicants with pets will be declined.