Revision Date: April 2016
Apartment Availability: We constantly update our list of available apartments as residents vacate and return keys; an apartment that was unavailable in the morning may become available later the same day. We make apartments available to all applicants in the order they apply. Therefore, we will not reserve or hold a specific apartment for any applicant unless the applicant submits (a) a completed application, (b) an application fee, and (c) a deposit for that specific apartment.
Occupancy Restrictions: We comply with all applicable housing ordinances, rules and regulations.
Application Fee: Each adult (over the age of 18) seeking residency in an apartment must submit a completed application and pay a nonrefundable fee, which covers the cost of a credit / screening check.
Rental Criteria:Applications are evaluated based on all information provided by the applicants and compiled from other sources, which is used to derive a score determining the eligibility for occupancy. We also require information such as employment references, other proof of income, and previous landlord verification. If an applicant is self employed, we require a copy of the previous year's tax return or a statement from a licensed accountant verifying income. Please note that a monthly rent must not exceed 35% of an applicant's monthly income.
Citizenship / Immigration Status: We reserve the right to deny tenancy to any applicant who can't establish either United States citizenship or a legal right to reside in the United States. All applicants must provide such evidence at the time of application. Such evidence may include a social security card, a visa, or other documentation issued by the United States Bureau of Citizenship and Immigration Service.
Guarantors:If for any reason an applicant does not meet the above criteria, a third party may guarantee a lease. The guarantor must be a Connecticut resident and must be approved pursuant to the same application and credit-screening process we require of any applicant, including the payment of an application fee. However, we will deduct the guarantor's own housing costs prior to applying his or her income to our income standard.
Deposits: The Landlord requires applicants to deposit funds equal to one month's rent as a reservation fee. I understand and agree that, while processing my application, the Landlord will incur costs and will remove the subject unit from the market. Because damages sustained by the Landlord would be uncertain in amount or difficult to prove if I decide not to proceed with this application, I agree as follows:
(a) If this application is approved and I enter into a Lease Agreement with the Landlord for a specific apartment, Principal Management will apply the entire deposit as a credit on my rental account.
(b) If I advise Principal Management in writing within 24 hours of signing this application that I do not wish to proceed with a rental, then the Landlord will refund the entire deposit. However, in the event that I have entered into a Lease Agreement, the terms of the lease shall supersede this paragraph.
(c) If I advise Principal Management more than 24 hours after signing this application that I do not wish to precede with a rental, then the Landlord will retain the deposit as liquidated damages
EQUAL CREDIT OPPORTUNITY ACT
The Federal Equal Credit Opportunity Act prohibits creditors from discriminating credit applications on the basis of sex or marital status. The Federal Agency which administers compliance with this law concerning this company: Equal Credit Opportunity, Federal Trade Commission, Washington, DC 20580
Consumer Authorization to Obtain Consumer Report
I hereby authorize Principal Management Partners, LP. to obtain a consumer report, and any other information it deems necessary for the purpose of evaluating my application. I understand that such information may include, but is not limited to, credit history, civil and criminal information, records of arrest, rental history, employment / salary details, vehicle records, licensing records, and / or any other necessary information. I understand that subsequent consumer reports may be obtained and utilized under this authorization in connection with an update, renewal, extension or collection with respect or in connection with the rental or lease of a residence for which application was made.
I hereby expressly release Principal Management Partners, LP. , and its affiliates, and any other procurer or furnisher of information, from any liability whatsoever in the use, procurement, or furnishing of such information, and understand that my application information may be provided to local, state and or federal government agencies, including without limitation, various law enforcement agencies.
I hereby acknowledge that the information on this application is true, correct, and complete. I understand that the Landlord will rely on the accuracy of that information in determining whether to enter into a Landlord-Tenant relationship with me, and on what terms.
Revision Date: October 28, 2011