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Do I need to present an ID along with the Application?
- Each adult applicant must present evidence of a valid Social Security Number. This usually takes the form of a government issued identification card such as driver license or passport
What are the Tenant Qualifying Criteria?
- Carolinas Metro Realty performs background examination for every adult applicant that includes but not limited to credit references check, employment and income verification, rental, and criminal history.
How does Carolinas Metro Realty check my Credit References?
- Carolinas Metro Realty requires proof of good credit from every applicant. Below are the further explanations of our policy toward large unpaid medical bills, defaulted student loans, bankruptcies, repossessions and judgments appearing on public records.
- Cases where the overall credit history is good but some minor discrepancies exist should always be discussed with the applicant in order to reasonably determine whether or not an expectation can exist that rents will be paid as agreed.
- Credit reports indicating installments in excess of 40% of Gross Monthly Income may not be acceptable.
What if I have Collections or Judgments?
- One or more unpaid collections and judgments are considered to be bad credit. Collections and judgments appear under "Public Records." Collections and judgments can be paid, marked paid or satisfied but will not be removed from the credit report for 7 years. If collections and judgments have been paid and all other credit is satisfactory, the Property Manager and/or Property Owner may approve the applicant. If earnest and substantial efforts are being made to settle unpaid accounts, they may be documented as mitigating circumstances by the applicant.
Can Defaulted Student Loan or Bankruptcy prevent me from being approved for a lease?
- Defaulted student loans and bankruptcies are considered a bad credit, however, a bankruptcy followed by good credit established after filing, indicates an attempt to rectify past credit problems and may be considered acceptable if the bankruptcy occurred over 2 years ago.
I had a Voluntary Repossession in the past?
- If an applicant has a "Voluntary Repossession," he/she had indicated that they have realized they cannot fulfill their contract and allowed the item to be returned. Please discuss all "Voluntary Repossessions" with the Property Manager to determine if approval is possible.
Do Unpaid Medical Bills affect my credit?
- Large unpaid medical bills as a result of circumstances beyond the applicant’s control will not be considered as part of the credit history if the applicant presents reliable, written evidence of mitigating circumstances and settlement efforts.
- Mitigating factors regarding an applicant’s credit report such as hardships and disputes with creditors will be considered by Carolinas Metro Realty upon submission of objective written evidence, as long as the evidence presented, in the sole opinion of Carolinas Metro Realty property management staff, represents reliable evidence beyond the applicant’s control. It is not our responsibility to discover, research or verify that there are possible mitigating factors. The burden of proof to present mitigating factors rests entirely with the applicant.
Do you verify Employment and Income?
- Applicants must have verifiable by their employer monthly income equal to or greater than three times (3 ) the monthly rental rate.
- Any non-employment and/or passive income must be guaranteed for the term of the lease by the government agency or payer.
Do you check my Rental History?
- Applicants must have a history of satisfactory rent payments and occupancy with all previous landlords.
- Applicants must have given sufficient notice-to-vacate at their last address.
- Judgments and evictions from any previous landlord are considered bad credit.
What about Criminal Background?
- Criminal background of an applicant or co-applicant including misdemeanors may negatively affect the final decision whether or not the lease will be granted.
Who makes the Final Decision?
- Any unusual questions dealing with credit references, employment, income and/or rental history should be dealt with by the Property Manager assigned to the specific rental property. All applications, including verification of credit, employment, income and rental history, must be submitted to and approved by a Property Manager and Property Owner before a lease is signed.
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