Application Approval. How Can I Assess If My Application Might Get Approved?

Rental Application Standards & Fraud Prevention Policy

To ensure the safety and financial security of our property owners and community, we have updated our application criteria to address recent trends in application fraud. Please review the requirements below before applying.

1. Identity & Credit History Verification

Due to a sharp increase in fraudulent applications, we unfortunately have to enforce strict requirements regarding credit history depth ("thin files").

We generally cannot accept credit reports that contain:

• Fewer than 2 trade lines that are 3+ years old.

• Very little activity despite the file being years old.

• A total credit file age of less than 2 years.

Policy on "Thin Files" & Cosigners

Because limited credit history is a primary indicator of synthetic identity fraud, we cannot accept cosigners to overcome a "thin file" rejection. At least one resident living in the home must have an active, verifiable credit profile meeting the criteria above.

Exceptions for Verifiable Identity

If your credit file is limited but your identity can be definitively verified through a reputable third-party source, we may attempt to move forward (subject to owner approval). Examples of acceptable third-party verification include:

• Listing on a University directory/website.

• Listing on an established corporate company website.

• Verifiable presence on similar professional third-party directories.

 

2. Income Verification Requirements

 

We have increased our income verification standards. Most large companies do not directly verify income; therefore, we rely on banking data.

• Standard Ratio: Total combined income for all applicants must be 3x the monthly rent.

  • Example: If rent is $1,500, the combined household income must be at least $4,500/month.

• Verification Process: If we cannot verify your income directly through an established third-party employer, you must sync your online bank logins via our fraud-proof verification partner (the same major public agency used for background checks).

  • Note: This process incurs an additional processing fee ($20-$25).

  • Learn more about our Fraud-Proof Income Verification

 

3. Credit Score & Risk Assessment

 

We begin with the credit score but weigh specific line items differently.

Risk Factor	Impact on Decision	Notes
Score > 750	Positive	Warrants acceptance in most cases.
Unpaid Utilities	High Negative	Heavily weighted. typically results in a decline, especially for luxury homes.
Utility Late Fees	Negative	Habitual late payments are a sign of high risk.
Evictions	Critical	Almost a guarantee of non-acceptance. Records are checked back 10 years.
Bankruptcy	Variable	Does not ensure a decline. Weighted less heavily than unpaid utilities; improves as time passes.
Medical Collections	Low	We advise owners to apply minimal to no weight.
Education Loans	Low	We encourage owners to weigh these lightly due to strict repayment structures.

 

We begin our assessment with the credit score but consider other factors- many of which are noted here.  A credit score over 750 will warrant acceptance in most cases. Unpaid utilities are heavily weighted and will typically result in being declined, especially for higher-end homes.  Habitual late payments for utilities are also considered to be a sign of higher risk.

We advise owners that medical collections or education loans rarely indicate a high risk of non-payment for rent.  We encourage owners to apply minimal to no weight when these issues arise. Largely due to their strict repayment requirements, education loans must be considered, however, we encourage owners to weigh these issues lightly when considering the risk of acceptance.  Having a high level of additional debt increases the risk.

 

4. Mitigation: How to Improve Approval Odds

 

If you have the financial means but possess "less than stellar" credit, we may present an option to the owner to pre-pay the last month’s rent, or more in some situations, especially without steady income.

• Why this helps: This dramatically lowers the financial risk for the owner.

• Benefit to you: It may secure you a home you would otherwise be denied for, and makes your future move-out easier as the last month is already covered.

Note on Evictions: If you have an eviction older than 10 years, it will not apply. If you have legal documentation regarding a recent eviction that warrants reconsideration, we will review it, but please note that application fees are generally non-refundable if the application is declined.

Get more details on the application process here.