All individuals, regardless of their race, color, religion, sex, national origin, family status or handicaps are guaranteed the right to rent any property they can afford. The federal laws that guarantee this right are commonly referred to as the “Fair Housing Laws”. Capeta Properties, Ltd. maintain a policy of strict compliance with these Fair Housing Laws. Generally, residents are approved or denied based on six (6) areas: income, debt ratio, employment stability, rental references, credit history and criminal background.

AGE REQUIREMENTS:

Applicants must be 21 years of age to be a “Signer” and must be able to demonstrate their ability to pay rent on time and to meet the requirements of occupancy.

INCOME REQUIREMENTS:

The combined gross income for all residents named, as a “Signer” on the lease must equal at least three (3) times the monthly rental amount.

DEBT RATIO:

No more than 35% to 40% of gross income is acceptable.

Consideration: If rent is 33% of income, current obligations cannot exceed 35% of your gross salary.

Reasoning: 35% -- debt, 33% - rent, 23% -- taxes and 9% -- living expenses equals 100% of gross income.

EMPLOYMENT STABILITY:

Length and type of employment is an important economic consideration in the approval process.

How likely is this employment to continue?
How easy is it to verify the employment?
Has the applicant been employed for a year or more?
Was their previous job similar?
Are they working at a better job now than their last job?

Also, the type of employment many times is an indication of how long the applicant is likely to be employed and a further indication of the likely stability of the income stream.

RENTAL REFERENCE HISTORY:

Comments from former landlords are important selection criteria. This includes past rental history (including non-payment of rent), failure to cooperate with applicable recertification procedures, violations of house rules, violations of lease, history of disruptive behavior, housekeeping habits, terminations of assistance for fraud, previous evictions suits and judgments.

CREDIT HISTORY:

Before an application for occupancy is accepted, a credit inquiry is made. Applicants without credit history are not necessarily denied: however, without credit history, it is sometimes more difficult for applicants to demonstrate their ability to pay rent on time.

CRIMINAL BACKGROUND REPORTS:

Occupancy is further subject to criminal background checks.

SECURITY DEPOSIT REQUIREMENTS:

An applicant may be requested to pay a full deposit, a one and one-half (1 1/2) month security deposit or a double security deposit in order to be accepted for residency.

Note: Any advertised special for reduced security deposit is subject to approval of all “Rental Selection Criteria”.

PET POLICY:

Pets are defined as cats. No dogs are permitted on any Capeta Properties, Ltd. without the expressed permission of the owners. However, we will allow service or assistance animals for medically qualified, disabled persons. (Owners of service/assistance animals, birds or fish etc... are not required to pay additional fees, deposits or sign a pet addendum).

New approved applicants could be required to pay a $300.00 Pet Deposit in order to have a (de-clawed and neutered) cat in their suite. An ongoing monthly non-refundable fee of $20.00, per pet, could be charged at our discretion, in the same manner as we apply a month-to-month fee. No more than two pets will be permitted in a suite. The Pet Deposit must only be listed separately on the Pet Agreement Form. Do not include the pet deposit within the security deposit amount listed on the Rental Agreement.

All current residents who want to acquire a pet or pets must have a signed Pet Agreement in their file, and could be required to pay the $300.00 pet deposit and the ongoing monthly fee.

Terms of Use Agreement