Before you apply to lease a Waypoint home, please take the time to review this screening policy. All persons 18 years of age or older, not dependents, will be required to complete separate rental applications. Applicants with adult dependents and applying for residency will complete a joint application.
Occupancy Guidelines – The following occupancy standards are based on 2 persons per bedroom, plus one per home.
Credit – A credit report will be completed on all adult leaseholders to verify credit worthiness. We will also perform an Eviction search and Criminal Background check.
Deposit amounts will be determined based on the Primary Applicant’s FICO score
All outstanding housing-related collection accounts must be paid off, or reflect that payment arrangements are in place with evidence of the first payment made, prior to move in. This includes utility collections and collection accounts from prior landlords.
All cash advance or payday loans must also be paid off or payment arrangements in place with evidence of payment history prior to move in.
A criminal background check must be passed before further approval consideration is given. A criminal background check will be conducted for each applicant and occupant age 18 years or more.
Income – Gross income for all applicants in one Waypoint Home will be combined to establish Gross Household Income. All applicants will be asked to produce consecutive and most recent pay stubs for the last 4 weeks from application date. Applicants must have a minimum income of 35% rent to combined adjusted income (Gross household income less monthly debt equals adjusted income x 35%). If the applicant can establish a 2 year stable employment history, we can qualify at 40% Rent to Adjusted Income (RAI)
To verify income we accept the following:
Denials – Once an application is denied, it becomes inactive for 45 days.
Approvals – Approvals are good for 45 days from the approved date and will require new apps and income docs after.