Modern Family 3 BR / 2 Bath Update at 1 Cabrillo #303. GARAGE PARKING $300 Extra. WITH LAUNDRY IN UNIT **Screening criteria for this apartment is at the bottom of this ad** Top Floor Corner Penthouse with Fireplace / New Lighting / New Window Coverings with Large OPEN Plan Kitchen / Living / Dining Space. Master BR Includes En Suite Updated Bath. VIEWS: Richmond District. USF. Church Steeples. Updated Kitchen with Stainless Appliances and Dishwasher Walk to de Young Museum Tower: Impress Out of Town Friends. Discover Lindy in the Park. Take a "Sentimental Journey." Neighborhood Market Vibe Alive + Well at Arguello Market. Let There Be Light with Circa 1966 Updated Interiors. Small Pets Okay Garage Parking is Available for $300 Per Month. No utilities included in rent. Leasing & Multi Unit Specialist DRE # 01886014 SCREENING CRITERIA for 1 Cabrillo Ave.: INCOME A stable source of income or equivalent assets must be verified. An applicant must have at least 3 times the total monthly rent in income or provide proof of liquid assets equal to at least 3 years of the monthly rent amount, per rental obligation, in order to be approved. o Income for all applicants is combined to meet household income requirements. o If an applicant has a rent subsidy, income must be at least 3 times the tenant portion of the rent. o Applicants with a credit score of 760 or higher must have at least 2.5 times total monthly rent in income. If income is stated inaccurately on the rental application or income verification forms, applicants will be required to have their application and credit run again for only the verifiable portion of the applicant's income as stated on the documents provided. All proof of income(s) must be in US currency, or documents converted and notarized. If applicant is unable to provide sufficient income to qualify, a guarantor may be utilized who must individually meet the guarantor requirements below. One or more of the following documents are required for income verification: - One month of most recent original paystubs. - Executed letter of hire from employer on company letterhead which outlines salary, position, start date and length of contract if applicable. Employment start date must be within 30 days of move in. - Independent contractors/self-employed individuals must provide a 1099 form or additional documentation from payer, plus 3 current and consecutive months of bank statements. - 3 current and consecutive months' bank statements showing recurring income from any source, including, but not limited to social security deposits, pension payments, interest payments, child support, alimony, government subsidies paid to the applicant, etc. - Section 8 program voucher or other evidence of subsidy award. - Proof of liquid assets through 3 most recent, consecutive months of bank statements (for example, IRA's, bonds, etc.). Each month must reflect an account balance of at least 3 years of rent. Section 8 Vouchers and Other Subsidies - A property will process an applicant with a Section 8 voucher or other subsidy upon presentation of documentation evidencing applicant's participation in the subsidy, and under the following conditions: The agency providing the subsidy must approve the tenancy within ten (10) business days of receiving information from the property. If there is no decision within this period, the unit will be offered to the next approved applicant. A subsidy-holder(s) must meet all rental qualifications and verifications provided within these Guidelines. CREDIT VERIFICATION Credit scoring is based on real data so all applicants are treated objectively. The credit report contains information about the applicant or guarantor and their credit experiences such as: bill-paying history, number and types of accounts, late payments, collection actions, eviction data, outstanding debt and the age of the accounts, debt to income ratio and other income factors. Applicants must have a credit score of 700 or higher, a lower score will be cause for denial. o If there is more than one applicant, the average score of the group will be used to make a determination. Eviction, rent collection actions, debt-related liens, or bankruptcies on record up to 5 years for any applicant is cause for denial. Screening reports will be provided for processed applications. We do not accept applicant provided screening reports. Outstanding rental balances will result in a declined application. Under California law, applicants with a government rent subsidy have the option, at the applicant's discretion, of providing lawful, verifiable alternative evidence of the applicant's reasonable ability to pay the portion of the rent to be paid by the tenant, including but not limited to, government benefit payments, pay records, and bank statements. o If an eligible applicant elects to submit such alternative evidence, Management will consider that alternative evidence instead of the applicant's credit history. In order to accommodate this request for customized screening, applicant must provide Management a completed paper application with the necessary verifiable alternative evidence at the time the application is accepted. GUARANTORS (if applicable) To qualify, Guarantor must either earn 4 times the monthly rent in income or have recoverable liquid assets equal to 5 years' of the monthly rent amount (for each rental obligation), have a credit score of 720 or higher, and must individually meet all other qualifying standards above. The guarantor will be financially responsible for the monthly rent requirement through the move-out date, regardless of the initial term of the tenancy, in addition to any charges upon move-out.
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