Welcome to Redwood Terrace's cozy, 1 bedroom, 1 bath, ground floor unit in a charming apartment community located in the heart of San Diego, CA. This smoke-free residence is perfect for those aged 55 years and older or individuals with disabilities. Enjoy the convenience of living in a small gated community, just steps away from historic Balboa Park. With on-site laundry facilities, an on-site manager, and a community BBQ area, you'll have everything you need right at your fingertips. Take advantage of the elevator for easy access to your unit and rest easy knowing that your furry friends are welcome in this pet-friendly environment. Don't miss out on the opportunity to call Redwood Terrace Apartments your new home! Must meet Conditional Use Permit (CUP) requirement of either age 55 or old, or disabled Redwood Terrace is a 37-unit, gated community, in compliance with California's CUP program with 80% of units available to people aged 55+ or Disabled. Pet deposit- 1 pet (cat/dog) $150, 2 pets (cat/dog) $250 Pet rent for dogs- 1 dog $35/month, 2 dogs $50/month (breed restrictions) Parking space $40/month- when garage space available No utilities are included. Water, trash & sewage is through Multi-family Utility Billing (prorated based on size of unit and occupancy) and added monthly to the tenant ledger. In addition to this rental application, you will also be required to provide a copy of a valid form of identification and proof of income. You must be prepared to provide 3 years of residential history as well as contact information for your rental references. You will also be asked to provide information on your monthly income, and please note that most properties require that applicant combined gross income is at least three (3) times the monthly rent amount. Each resident over the age of 18 must submit a separate rental application. Application Fee: $35.00 Selection Policy: VERIFICATION OF INCOME: *EMPLOYMENT/ SELF-EMPLOYMENT VERIFICATION: We must be able to verify current legal income which may or may not be from employment. Current pay stubs or Leave and Earnings Statement will be required. *FINANCIAL ASSISTANCE: Social Security, SSI, disability, AFDC income, and other types of financial assistance must have supporting documents if such income is to be included in gross income. *OTHER INCOME: We will consider written verification of all other types of legal income including, but not limited to Court Orders for Child and/or Spousal Support, together with current bank statements or previous year's income tax return; proof of payment from retirement accounts or funds; or any other type of legal, verifiable income. *INCOME REQUIREMENTS: Gross monthly income must be 2 times the amount of your apartment rent. RENTAL HISTORY: Applicants must have six (6) months third party rental history. This means that you must have rented from someone other than a family member and/or friend, and that your previous landlord can verify that you were a party who was obligated to pay rent under a written or oral agreement/lease. **Applicants must not have been evicted pursuant to an unlawful detainer proceeding within the last seven (7) years.** We will conditionally accept persons who have not established rental history with a month-to-month rental agreement for the first six (6) months and will offer such persons a lease at the end of the six (6) months period, provided there are no notices for non-payment of rent or rules violations. An additional security deposit equal to one (1) month's rent will also be required for a guarantor. CREDIT HISTORY: *Applicants must have satisfactory credit history. Satisfactory is defined as the following: No collection accounts for more than $2,000.00. Medical debt is excluded. Applicants with more than $2,000.00 in collections must have a guarantor that can meet his or her obligations as well as the rental obligations of the resident. This means that the guarantor must have a rent-to-income ratio of not less than three (3) times the monthly rent. Additionally, the guarantor must satisfy all the resident credit criteria as well. *Any bankruptcy must be discharged at time of application. *Applicants with negative credit history may be considered with a guarantor upon senior management approval. Accounts in default that are over three (3) years old will be considered with evidence of reestablished credit reflecting no late payments. *Any applicant with felony criminal or eviction records less than 7 years old is automatically denied for rental. ** CREDIT SCORE with ADDITIONAL ITEMS -APPROVAL TERMS Credit score above 650 with no criminal, eviction, or collection items. -Standard deposit amount. Credit score below 650 with no criminal, eviction, or collection items. -1.5 times the deposit amount. (After July 1, 2024 will require standard deposit and co-signor/guarantor) Credit score below 650 With any misdemeanor criminal or collection items.-2 times the deposit amount. (After July 1, 2024 will require standard deposit and co-signor/guarantor) Guarantor/Co-signer Requirements: Applicants whose results do not meet the approval standards may have a guarantor/co-signer. The guarantor/co-signer must have a gross monthly income of 2.5 times the rental rate and satisfy the credit requirements. Guarantors/co-signers must submit an application and will be required to sign the Lease Agreement, including the Guarantee of Lease Agreement Addendum.
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