BEFORE YOU BEGIN:

1. All occupants over the age of 18, and emancipated minors are required to submit an application
2. Application fees are non-refundable
3. You may apply before viewing a property; however, if you view the property after submitting an application, the application fee will be nonrefundable. There will be no waiver of the lease-breaking fee if a tenant   who did not view the home signs a lease and later decides they no longer desire the home after viewing.
4. Your application must be completed in its entirety and have all documents uploaded and all individual applications included to be considered a valid submission
5. Applications will be grouped in a 48 business hour window of submission and reviewed together. Once the window has closed, we will continue accepting applications. However, please keep in mind that we may or may not approve an application that is currently being processed. An answer will be given 3 business days after the review has begun. The most qualified will be approved. If there are two or more applicants with the same score, the applicant(s) who applied first will be selected.

A debt-to-income, or DTI, the ratio is derived by dividing your monthly debt payments by your monthly gross income. The ratio is expressed as a percentage, and we use it to determine how well you manage monthly debts -- and if you can afford for the rental you are applying for.

To calculate your debt-to-income ratio, add up all of your monthly debts – rent payments, student loans, personal loans, auto loans, credit card payments, child support, alimony, etc. – and divide the sum by your monthly income. For example, if your monthly debt equals $2,500 and your gross monthly income is $7,000, your DTI rati o is about 36 percent. (2,500/7,000=0.357).

Riverside Property Management Inc. Application Rubric

1. Credit Score (FICO)

<599 = 0 points

600 - 649 = 1 point

650 - 699 = 2 points

700+ = 3 points

*For a credit score of N/A, a default score of 600 is used

2. Gross Monthly Income ( COMBINED)

2 times the monthly rent or less = 0 points

2.0 - 2.49 times the monthly rent = 1 point

2.5 - 2.99 times the monthly rent = 2 points

3 times the monthly rent or more = 3 points

3. Debt to Income Ratio (Combined)

DTI greater than 57% = AUTO DENIAL

50-57% = 0 points

46 - 49% = 1 point

41 - 45% = 2 points

Less than 41% = 3 points

4. Payment History (From Credit Report)

3+ Negative = 0 points

2 Negative = 1 point

1 Negative = 2 points

All+ , N/A, or only negative Med/Ed = 3 points

*COLLECTION FOR CASH ADVANCE IS AUTO DENIAL*

5. Length of Last 5 years of residency at current

12 months or less = 0 points

13-24 months = 1 point

25 – 48 months = 2 points

49+ months = 3 points

* Living with family = 1PT*

6. Late Rent or Mortgage in last 2 years

*EVICTION ON RECORD IS AN AUTO DENIAL*

3 or more late payments = 0 points

2 late payments = 1 point

1 late payment = 2 points

0 late payments = 3 points

* Living with family = 1PT *

Total score for all applicants are added together and divided by the number of applicants.

13+ points = approved

12 points = approved with the condition of requiring a co-signer

11-0 points = not qualified