Qualification Requirements

Please check through the quick list of requirements below before applying for a lease with Keystone Properties:

Click here to read the complete list of Qualification Requirements >>

  • INCOME

    Applicants must have a minimum combined gross income of 3.0 times the monthly rent.

  • CREDIT REPORT

    A credit report will be obtained on all Applicants to verify credit ratings. Income plus verification of credit history will
    be entered into a credit screening model to determine rental eligibility and security deposit levels. There are three
    screening results: approval, approval with extra deposit, or denial.

    Unfavorable accounts which will negatively influence this score include, but are not limited to: inquiries, collections,
    foreclosures, charge-off, repossession, absence of credit, and current delinquency. Debt to a previous landlord, and
    open bankruptcies will result in an automatic denial of the application. Depending upon the screening result, an extra
    deposit of half to a full month’s rent may be required subject to local or state laws.

  • CRIMINAL HISTORY

    A criminal background check will be conducted for each Applicant and Occupant eighteen (18) years of age or older.
    All criminal records are evaluated from the date of disposition, regardless of the Applicant’s or Occupant’s age at the
    time such offense was committed.

    The application will be denied for any felony conviction up to six (6) years prior to the application date (subject to
    local laws/requirements). The application will be denied for any felony conviction for any sex and/or terrorism related
    offense(s ) regardless of conviction date.

  • RENTAL HISTORY

    Some credit scoring results will necessitate an evaluation of verifiable rental or mortgage payment history. Applications
    also depend on the results of a rental history investigation for an approval/ denial determination. Applications for
    residency will automatically be denied for current outstanding debt or eviction.

  • RENTAL HISTORY

    Some credit scoring results will necessitate an evaluation of verifiable rental or mortgage payment history. Applications
    also depend on the results of a rental history investigation for an approval/ denial determination. Applications for
    residency will automatically be denied for current outstanding debt or eviction.

Acceptable Income Documentation

We must verify the information you provided before issuing a full approval, so please be prepared to upload the following supporting income documentation with your initial application:

  • HOURLY/COMMISSION

    The most recent paystub from employer OR the most recent month’s bank statement.
    (No joint bank accounts may be used unless all joint owners apply as leaseholders. No prepaid or PayPal
    accounts will be accepted. Tax Refunds will not be accepted as monthly income.)

  • SALARIED APPLICANTS

    One most recent paystub OR One current month of full bank statements. (No joint bank accounts may be used unless all joint owners apply as leaseholders. No prepaid or PayPal accounts will be accepted. Tax Refunds will not be accepted as monthly income.)

  • RELOCATION

    Offer letter or income verification from the Applicant’s Employer: must be current or for a job starting within 30 days of move-in, on company letterhead (or notarized) and signed by the appropriate Human Resources or Company officer, with his/her contact information.

  • SELF EMPLOYED

    Financial statement: One month (or prior year-end statement if prior to April 15) must be submitted. Note: Statement must be prepared by a Certified Professional Accountant, tax accountant, or other certified banking representative. OR Bank Statement: The most recent month of a personal or corporate bank statement is required to calculate the gross monthly earnings per household. Note: If necessary, additional months may be requested. Transfers will not be included in the calculations. No joint bank accounts may be used unless all joint owners apply as leaseholders. No prepaid or PayPal accounts will be accepted.

  • SOCIAL SECURITY DISBURSEMENT LETTERS

    A disbursement letter from the current year showing monthly amount or statement.

  • CHILD SUPPORT

    A court order or notarized letter from an attorney representing the terms of proposed assistance. Additional documents may be necessary.

  • SAVINGS ACCOUNT

    One current month of full bank statement (detailed version, including transactions) with a minimum ending balance of three (3) times the total rent due for the entire lease term. For example, if the monthly rent is $1000 with a 12-month lease term, the ending balance must be a minimum of $36,000. Note: No joint bank accounts may be used unless all joint owners apply as leaseholders. No prepaid or PayPal accounts will be accepted.

  • TAX RETURN, W-2, or 1099

    Must be combined with your most current bank statement showing current employment. Note: A return from the previous year will not be accepted after April 15 unless proof of a tax filing extension is submitted with the previous year’s tax return. A W-2 or 1099 from the previous year shall not be accepted after January 31.

Final qualification and approval is determined when you apply.

Click here to read the complete list of Qualification Requirements >>