the entrance to a building with a sign that says, welcome to the community at The Park Colony Apartments

Resident Leasing Criteria

We are working with our community to maintain quality in the neighborhood; therefore, we have a very thorough screening process. If you meet the application standards and are accepted, you will have the peace of mind knowing that other residents are being sereened with equal care. We are proud to provide Equal and Fair Housing Opportunities. We do business with accordance with the Federal Fair Housing Law. It is illegal to discriminate against any person because of race, color, religion, sex, handicap, familial status, or national origin.

An application fee of $65.00 is required for each adult 18 years old or older or an emancipated minor that will be residing in the unit. An emancipated minor is a person less than 18 years of age who is or has been married, on active military duty or has a court emancipation order. A one-time non-refundable administrative fee of $115.00 is required at the time of application. All Visitors must present a current photo ID issued by a state or govemment authority, (i.e. State Issued Driver’s License, State Issued Photo ID, current Passport, Militay ID card or Visa issued by DHS). A copy of applicant’s photo IDs will be made and retained at time of move in.

Income/Employment: All persons applying for an apartment must have a verifiable source of income in a gross amount of no less than 3 times the gross rental rate. You will be asked to provide at least 4 consecutive paycheck stubs, pay statements or copies of award letters. Employment must be at least 12 months or longer unless circumstances dictate otherwise, then it will be reviewed on a case-by-case basis; if we are unable to verify your employment, we reserve the right to deny the application. SSI or Disability Assistance will be accepted as a supplemental income. Proof of assets equal to 1 times the lease term. Self-employed applicants may be required to supply the most recent IRS tax retum or certified verification from their company accountant or bank. In the event of multiple applications/roommates combined information may be considered. Every person over the age 18 must be a lease holder. Acceptable proof of income is as follows:

Pay stubs with verification
Job offer letter on company letterhead w/salary
Most recent tax returns
Prior three months of bank statements
Child support/alimony when directed by a court
Grants, pensions, trust funds
G.I. benefits, disability, social security

Lease Guarantors: A Lease Contract Guarantor may be used ONLY under the following conditions: 1) Monthly verifiable income is less than the 3 times monthly rent. 2) You have a familial or personal relationship with Guarantor. 3) Guarantor lives within the U.S. and has a valid SSN. 4) Guarantor MUST MEET Credit and Criminal Requirements listed below. 5) Guarantor must provide verifiable income in a gross amount of no less than 6 times the gross rental rate.

Rental History: All persons applying for an apartment must have 24 months verifiable, satisfactory history (all addresses revealed during processing will be rescarched). Less than 24 months of history may require an additional deposit. Evictions, skips or money left owing to a landlord within two (2) years of application date or falsification of information may result in an automatic rejection. Individuals with rental history issues cannot owe more than $3,000 in combined rental debt and have no more than 2 rental issues for the application to be considered, approval is not guaranteed. Satisfactory history includes the following:

No more than one late payment or NSF in a 6 month period
Lease term fulfilled
Residence left in satisfactory condition
Proper notice to vacate given
1st time renters accepted upon review.
Rental history reviewed on a case by case basis

Credit History: All persons applying for an apartment must have established credit in good standing. A complete investigation of credit history of each applicant will be made and will require a minimum of 50% satisfactory rating. Medical bills and/or student loans will not be counted as derogatory. Negative credits include but are not limited:

Past due Accounts
Judgments
Liens
Write Offs
Collection Accounts
Balance to a rental communities (no more than two debts)

Criminal History: A criminal background search will be conducted for each applicant and occupant over the age of 18. Any felony or misdemeanor conviction will be reviewed on a case-by-case basis according to Federal Fair Housing Law and Texas Property Code, taking into account nature, severity and recency of offence. Relevant information such as facts, age at the time of offense, tenant history after offense and evidence of rehabilitation efforts will be reviewed on a case-by-case basis. Any Felony or Misdemeanor convictions for Murder, Capital Murder, Aggravated Kidnapping, Aggravated sexual assault, Aggravated Robbery, Injury to persons, Sexual offenses and/or Moral Turpitude, Terroristic Threats, Organized Crime or Gang Related offenses, Burglary, Manufacturing, Distributing and/including Possession of a Controlled Substance can be grounds for denial. Property retains the right to reject any application for less than satisfactory history. The applicant agrees that the lease shall be terminated in the event the applicant, after moving onto the property, is convicted of a Felony or Misdemeanor for a crime against a person, another person’s property or against society, appears on lists of known terrorists /wanted fugitives or sex offenders list. This requirement does not constitute a guarantee or representation that the residents or occupants residing at the apartment community have not been convicted of a crime.

Occupancy Standards: No more than 2 adults per bedroom + 1 child younger than 12 months of age

Animals: Park Colony Apartments is a pet friendly community, and we encourage our residents to enjoy approved pets in their apartments to enhance their lifestyle and the enjoyment of their home. We utilize PetScreening.com to sereen household pets, validate reasonable accommodation requests for assistance animals, and confirm every resident understands our pet policies. A maximum of 2 pets are allowed per apartment home. Although Park Colony Apartments has limited breed restrictions; these restrictions are to better the enjoyment of all residents and their home. Certain breeds may be subject to higher Monthly Pet Rents, non-refundable Pet Fees and Pet Deposits based on the FIDO Score. FIDO Scores of 1-2 requiring Renter’s Insurance must provide proof of animal coverage. Any pet with a FIDO Score “O Paws” will not be accepted. The applicant will be responsible for a registration fee of $25/animal. Additional restrictions may apply including weight and age limits; all rules governing animals conform to Federal Fair Housing Law & ADA regulations. For details regarding animal policy inquire within the leasing office.

Other Policies:

An Application Deposit will be required. If approved, application deposit will be credited towards the required security deposit. Based on your application screening results you could be required to pay additional deposit and/or up to one month’s rent in addition to the standard security deposit.
A $400.00 Risk Fee will be applied to certain application that do not meet acceptable credit or rental history.
Cancellation after approval will result in forfeiture of the application deposit and all other amounts paid.
Move in dates cannot be changed or amended. Failure to move in after approval will result in forfeiture of the paid deposits.
Please be advised that it can take 1-3 days for final approval once we receive all information needed to approve the application.
Some restrictions may apply to Move-In Specials
We reserve the right to request any additional information needed to approve the application.
Provide proof of electricity service active in dwelling prior to move in and/or receiving the keys.

An Application will not be considered until the application has been fully executed, returned and all applicable deposits and fees have been paid.