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Statement of Rental Policy/Qualification Acknowledgment


In order to assist you with your decision on your new home, we are providing a list of guidelines used to qualify residents for residency in our communities. Nothing contained in these requirements shall constitute representation by South Oxford Management, LLC that all residents and occupants currently residing in our community have met or currently meet these guidelines.


APARTMENT AVAILABILITY: Applications for apartment homes will be accepted on a first come - first serve basis and are subject to the availability of the particular apartment type requested. "Availability" does not necessarily mean that an apartment will definitely be available for occupancy by an applicant at the estimated date. "Available" apartments include those where a "Notice to Vacate" has been submitted by an existing resident indication an intention to vacate on or about a certain date. Under certain circumstances, we will permit current residents who are not in default of their lease to withdraw or change their notice of moving. Other circumstances not necessarily under management's control may also delay the date of availability of an apartment. In addition, an apartment may not be considered available because it is about to be placed under contract as an application has been made and a deposit placed to hold the apartment. If the applicant's application is not approved or if the applicant fails to sign a Lease by the specified date, then the apartment would again become available. Whether a particular unit or type of apartment is available can vary significantly within several hours or days.


RENTAL CRITERIA: All applicants and co-signers must agree to the following by executing this Statement of Rental Policy and a rental application form: Applicant(s) hereby consent to allow Legends at Legacy, through its designated agent and its employees, to obtain and verify credit information, including a criminal background search for the purpose of determining whether or not the applicant is eligible to lease an apartment. Applicant understands that upon that upon leasing an apartment, Legends at Legacy and its agent shall have a continuing right to review credit information, rental application, criminal background, payment history and occupancy history. Faxed signatures are acceptable however original signatures must be obtained prior to move in.


FAIR HOUSING STATEMENT: South Oxford Management, LLC and the Owner are committed to compliance with all federal, state, and local fair housing laws. It is our policy to comply with all laws prohibiting discrimination, including those that prohibit discrimination based on race, color, religion, national origin, sex, familial status, or disability.


IDENTIFICATION:

Applicants must present a government issued photo identification card for all persons age 18 years and older that will be living in the apartment.


APPLICATION AND FEE: A separate rental application must be completed, dated and signed by each applicant and any individual over the age of 18. All individuals 18 years of age, or legally considered an adult by law if not living with a legal guardian, are required to be made a party to the lease. In order to reserve an apartment home, applicant(s) must submit an executed application along with the following fees and deposits: 1.) A non-refundable application fee $50.00 for each applicant 18 years of age and older for verification of information and credit approval. 2.) A non-refundable administrative fee $100.00. 3.) A refundable security deposit $150, $200 and $250 for 1, 2 and 3 bedrooms. Applicant understands that an additional security deposit may be required based on credit scoring requirements. If for any reason management decides to decline the application, management will refund the administrative fee and the security deposit in full. If an applicant is conditionally approved, but chooses not to pay the additional deposit, then his/her application will be considered declined. If the application is approved and the applicant fails to sigh a lease or take occupancy of the premises on the agreed date, management may retain the administrative fee and the security deposit as liquidated damages for the amount of rent lost and any expenses incurred due to the cancellation.


OCCUPANCY: Unit occupancy shall not exceed 2 persons per bedroom. Children younger than six months are not considered occupants in determining this factor of eligibility. South Oxford Management, LLC will comply with applicable laws that require higher or lower occupancy ratios.


VEHICLES: Parking space is limited in our community. Each household is permitted 2 passenger vehicles. Commercial vehicles and recreational vehicles are not permitted. Unless given a designated rental space in a specific area of the community.


INCOME: All individual applicants must have a combined source of income in an amount no less than 3 times the market rental rate, or if 2 individuals over 18 applying to live in the same unit a combined income of 3 times the market rental rate. Acceptable Sources of Income may be any of the following: Three (3) most current paycheck stubs. If applicant is starting a new job, the future position and salary must be verified in writing via an offer letter on company letterhead and effective on or before the proposed move-in date. If applicants are self-employed or receive money from non-employment sources, proof of income through: (1) a copy of the previous year's tax returns, (2) a financial statement from a CPA verifying income, or photocopies of three (3) most current bank statements illustrating the ability to pay rent through the entire lease term. (Other income may mean, but is not limited to, alimony/child support, trust accounts, social security, unemployment, welfare, grants/loans).


INCOME RESTRICTED: If you are applying at an income restricted community please review the supplemental income exhibit for specific income qualifications.


RENTAL HISTORY: Less than satisfactory rental history including, Evictions and/or Outstanding Debt to a previous Landlord may result in an automatic denial.


INTERNATIONAL RENTAL CRITERIA: In addition to qualifying under the items stated in this Statement of Rental Policy, applicants from countries other than the United States WHO DO NOT HAVE A SOCIAL SECURITY NUMBER must meet the following criteria:

  1. An original valid passport showing raised notary seals and USCIS (US Citizenship and Immigration Services) documentation is required. Expired passports or expired USCIS documents result in an automatic decline of the application. On the Application of Residency, the applicant is to fill in the Passport Number in lieu of a Social Security Number.
  2. Households consisting of International applicants WHO DO NOT HAVE A SOCIAL SECURITY NUMBER are required to pay AN ADDITIONAL ONE MONTH'S RENT AS A DEPOSIT.
  3. All move-in monies are required in U.S. Certified Funds.


CREDIT HISTORY: Our screening agency evaluates credit, debt to income and rental history against indicators of future rent payment performance. Any unsatisfactory finding may result in the requirement of an additional deposit, guarantor, or denial.


GUARANTORS: Are only accepted for full time students, proof of full time enrollment for current or upcoming term must be presented. All guarantors must have a combined source of income in an amount no less than 6 times the market rental rate. If a guarantor is needed, they must meet the entire qualifying criteria as presented herein. The guarantor must pay an application processing fee and sign the Guarantor Addendum.


CRIMINAL HISTORY: A criminal background screening will be conducted for all applicants including Felony and Misdemeanor convictions and charges. The following offenses including Deferred, Convictions, Charges, and Sex Offender Registrants will result in automatic denial.
Crimes Against Person involving Assault, Homicide, Kidnapping, and Sex related: Felony convictions within 50 years and charges pending trial within 5 years, Misdemeanor convictions within 10 years and charges pending trial within 5 years.
Crimes Against Property involving Arson, Burglary, Motor Vehicle Theft, Counterfeiting, Embezzlement, Extortion, Fraud, Robbery, Stolen Property, Destruction of property: Felony convictions up to 15 years and charges pending trial up to 5 years, Misdemeanor convictions up to 5 years and charges pending up to 3 years.
Crimes Against Society involving Obstruction of the Law, Disorderly conduct, Drunkenness, DUI, Liquor Law, Pornography, Prostitution, Traffic, Trespassing, Drugs, Weapons, Peeping Tom: Felony convictions up to 15 years and charges pending trial up to 5 years, Misdemeanors involving Drugs, Weapons, Peeping Tom convictions up to 5 years and charges pending trial up to 3 years.
Offenses involving Drug/Narcotic Sale or Manufacture; Felony convictions within 50 years, charges pending trial within 5 years, Misdemeanor convictions within 10 years, charges pending trial within 3 years.


PETS: Domesticated pets are accepted with a 0 lbs. total weight/height limit. A $300.00 pet fee is required per pet (maximum of two) and must be paid in full prior to move-in. Pets will be subject to visual inspection. Resident(s) agree to comply with all community policies and may be required to sign a separate Pet Addendum. Service animals assisting a handicapped person are allowed and no pet fee is required. The following breed and/or mix breeds are prohibited: Akita, American Bull Dog, American Pit Bull Terrier, American or Bull Staffordshire Terrier, Briard, Borzoi Hounds, Bull Mastiff, Bull Terrier, Cane Corso, Chow, Dalmatian, Doberman Pincher, Dogo, German Shepherd, Great Dane, Great Pyrenees, Husky, Irish Wolf Hound, Komondor, Malamute, Neapolitan Mastiff, Pit Bull, Rottweiler, Scottish Deerhound, Spitz, St. Bernard, Stafford Terrier, Presa Canarios, Shar Pei, Toso Inu and Wolf-Dog Hybrid.


SATELLITE DISH: Legends at Legacy allows the installation of one satellite dish per apartment in accordance with FCC and local access laws. Not all apartments are suitable to satellite reception and Legends at Legacy cannot guarantee that satisfactory transmission will be received. There are limits on how and where a satellite dish can be installed and the appropriate addendum must be signed. Liability Insurance (minimum coverage amount of $100,00) is required and a copy of the insurance must be presented prior to installation.


ELECTRONIC CHECK POLICY: South Oxford Management, LLC reserves the right to utilize Accounts Receivable Entry (ARC) to process personal checks through the ACH (Automated Clearing House) system and is compliant with NACHA (The Electronic Payments Association) rules. These rules require that South Oxford Management, LLC provide residents and prospects the following notification: When you provide a check as payment, you authorize South Oxford Management, LLC to use information from your check to make a one-time electronic fund transfer from your account or to process the payment as a check transaction. South Oxford Management, LLC will use information from your check to make an electronic fund transfer and funds may be withdrawn from your account as soon as the same day we receive your payment, and you will not receive your check back from your financial institution.


Rental Scoring and Your Rental Application


We rely upon a "Rental Score" to estimate the relative financial risk of leasing an apartment to you. In addition to estimating risk, rental scores are an objective and consistent way of reviewing relevant applicant information, and help speed the application approval process.


How is my rental score determined?
Rental scoring systems assign points to certain factors identified as having a statistical correlation to future financial lease performance. Your rental score results from a mathematical analysis of information found in your credit report, application data, and previous rental history. Such information may include your bill-paying history, the number and type of accounts you have, collection actions, outstanding debt, and the number of inquiries in your consumer report. The final number, or rental score, represents an estimated level of risk as compared to the performance of other consumers in a range of scores.
Because your rental score is based upon real data and statistics, it is more reliable than subjective methods of evaluating your information. Rental scoring treats all applicants consistently and impartially. Additionally, your rental score never uses certain characteristics like-- race, color, sex, familial status, handicap, national origin, or religion as factors.


What can I do to improve my rental score?
Your rental score may change based upon changes of the underlying information. The total improvement, however, generally depends on how that factor relates to other factors considered by the scoring system. Nevertheless, to improve your rental score, concentrate on paying your bills on time, paying down outstanding balances, and not taking on new debt.


NOTIFICATION OF DENIAL OR CONDITIONAL APPROVAL
You have a right under the Fair Credit Reporting Act to a free copy of your consumer report from CoreLogic SafeRent, LLC, the reporting agency used by South Oxford Management, LLC to evaluate your background information if the request is made no later than 60 days after you receive notification of a denial or conditional approval. In evaluating your application, information obtained from or through CoreLogic SafeRent, LLC, which may include credit information or consumer information from one or more of the credit bureaus or consumer reporting agencies, may have influenced South Oxford Management, LLC decision in whole or in part. These consumer-reporting agencies and/or credit bureaus DID NOT make the decision to take adverse action and are unable to provide specific reasons why adverse action was taken.


Please choose "I Agree" to continue to the application.


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