POWERS PROPERTIES RENTAL POLICY
Prior to completing an application for residency, please read this Rental Policy to determine whether you meet rental guidelines. We require all applicants to be over the age of 18. We may manage multiple properties in the area. If you do not meet rental qualification guidelines for a specific property or if we do not have units available at the complex of your choice, you may be offered an apartment within one of our other complexes.
EQUAL HOUSING OPPORTUNITY: Powers Properties is an equal housing opportunity provider. We believe in the spirit of the Federal Fair Housing act and our company does not discriminate based on race, color, sex, national origin, religion, disability, or familial status. Powers Properties fully supports and complies with the Federal Housing Act and all local and state laws regarding fair housing.
APARTMENT AVAILABILITY: Applications for apartment homes will be processed on a first come, first serve basis and are subject to availability of the apartment complex and type apartment requested. Availability” does not necessarily mean that an apartment will be available for occupancy by an applicant at the estimated date. An apartment may not be considered available because a prior application has been made and a deposit placed to hold the apartment. If the applicant’s credit is not approved or if the applicant fails to make a security deposit at the time of credit approval, the apartment will again become available. Whether a particular apartment or type of apartment is available can vary significantly within several hours or a day. Our company seeks to lease its apartments at the most competitive rates obtainable in each community’s market. This is done by comparative pricing and pricing to obtain the highest rental income possible for the owners of our properties. There may be price differences as to the effective rental rates obtained by our residents depending on the leasing or marketing programs in effect and the time and date on which they visited the property or applied for residency. You may apply to qualify for any apartment that is or will be vacant and available for occupancy during your desired timeframe.
Applicant must have gross income of at least three (3) times monthly rent.
Example: If an apartment is $800.00 per month, a single applicant must gross at least $2,400.00 per month.
Proof of Income – One or more of the following may be required:
- Most recent pay stub or authorized statement on company letterhead signed and notarized verifying employment and income.
- Previous year’s tax returns
- Financial Statement from CPA verifying employment and income. If we are unable to verify your income or if income is contrary to your application, application may be withdrawn.
- If self-employed, must provide #2 or #3.
Picture ID- acceptable ID includes:
- Driver’s Licenses
- ID acquired from highway department.
- Military ID.
Credit check will be performed through Equifax. We require a minimum credit score of 500.
Applicants may be disqualified for the following:
- If the applicant owns another apartment complex or housing rental company.
- If applicant does not meet Powers Properties minimum scoring requirements.
- Has had an eviction in the past 6 months
Applicants score is based on the following:
- Amount of income.
- Amount of time the applicant has been on their job.
- Credit report from Equifax equated to Powers scoring requirements.
- Prior rental history may apply
Parents/Legal Guardians of students eighteen years of age and older may apply as set forth in this document on behalf of such student if Parent/Legal Guardian meets all criteria as the applicant and if the student provides written proof of registration and enrollment at a post, secondary school and if the student also provides proof of legal residence which is the same as that of parent/legal guardian. If approved, such parent/legal guardian will become the tenant, but the student will be designated by tenant and Powers Properties as the occupant. As part of the application process, Powers Properties reviews credit history, residence history, employment history, criminal history, income verification and other references for the purpose of approving applicants.