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Qualifications for Affordable Housing

Qualifications for Affordable Housing

Thank you for your interest in our community. Before you apply to rent an apartment home in our community, please take the time to review our requirements. All persons 18 years of age or will be required to fill out an application.

1. Occupancy Guidelines The following occupancy standards apply based on 2 people per bedroom, plus one per apartment:

One Bedroom - Three Persons
Two Bedroom - Five Persons
Three Bedroom - Seven Persons
Four Bedroom - Nine Persons

*Residents who exceed these occupancy standards during the lease term, will be required, upon the end of the current lease term, to either,
i. Transfer into another available apartment that has more bedrooms; or
ii. Move out.

2. Student Status - Under affordable housing programs, to the extent applicable, we cannot approve an application in which all occupants of a household will be students unless they qualify under the Affordable housing guidelines. Please see one of our leasing consultants for student qualifications.

3. Application Applications for residency will be automatically denied for the following reasons:

  • Intentional falsification of information on the application and/or affordable housing qualifying paperwork.
  • Previously evicted or skipped from a prior rental dwelling or in the process of eviction.
  • Failed to meet the credit model requirements.
  • Failed criminal background.
  • Failed to provide required documentation within three (3) business days of the request from the community.
  • Credit report contains an open bankruptcy.
  • Credit and Criminal background that takes longer than 7 days will be automatically denied.

4. Income Gross income for all applicants in one apartment home will be combined and entered into the credit scoring model for income eligibility. Annual household income cannot exceed the maximum allowable income for this property. Applicants must have a minimum combined gross income of 2.0 times the monthly rent. Additional sources of verifiable income may be considered. These sources may include child support, TANF, grants, pensions, GI Benefits, disability, trust funds, social security, and savings accounts.

Here are the guidelines on the total amount you cannot exceed according to the household size with the different LHTC percentages.

Income Limited - Household Size


5. Employment An Employment Verification must be sent to the employer to verify the applicants income. The applicant may be asked to produce 4-6 consecutive and most recent pay stubs. Pay stubs must reflect gross income, employers name, and social security number of the employee and date. If employment is to begin work shortly, the applicant must provide a letter of intent to hire from the employer.

6. Unemployment- All Applicants who state who states they are unemployed but have income must sign an unemployment affidavit. If any unemployed individual has zero income, they will sign the zero-income affidavit. Unemployment benefits must be annualized. If unemployed and anticipating employment, we may need a copy of the last years tax return. If the income on the tax return would over qualify the applicant, then their application may be denied.

7. Self-Employment, Retired or Unemployed- Such applicants must provide the previous years income tax return and the previous two months bank statements, or twelve months of financial statements and must exhibit no negative references, or a letter from CPA anticipating the applicants income for the next twelve months. Seasonal employment must be verified by providing the prior years tax return.