Lake Apartments does not discriminate because of race, color, religion, sex,
national origin, familial status or disability.
Section I: Qualifying Criteria for
The following criteria must be met by each applicant in
order to reside at our community:
1-1. AGE: All
individual applicants must be at least 21 years old with no co-signers. If
there are two or more applicants, each applicant must be 21 years old, unless
the couple is married (then one applicant may be under 21), or if the relationship
is parent and child. All leaseholders must intend to reside in the unit full
time for which the application is being submitted. All persons 18 years and
older who are not leaseholders but intend to live in the apartment 30 or more
days per year in total or 2 or more nights per week must submit an application
as an occupant and are subject to a background check. Anyone under the age of
18 must be registered in the apartment.
Student applicants who are 21 years and older may apply with a parental
co-signer and proof of student status. All students must reconfirm
student status every lease renewal with a payment receipt for tuition and a
class schedule. See Student Co-Signer Addendum for more requirement details.
1-3. OCCUPANCY: A
maximum of two (2) persons per bedroom is allowed in each unit, which includes
children, newborn babies, and visiting guests staying longer than 30
consecutive days or 2 or more nights per week. See occupancy policy (Section 6 of 11) for maximum occupancy per apartment size.
Photo identification is required at time of application to prove the
applicantâ€™s identity. Mallard Lake may ask for two forms of ID if no valid picture
U.S. issued ID exists (i.e. valid driverâ€™s license or official state picture
ID, military ID, alien card, or passport) or if the ID photo is not clear, the
ID is expired, or does not look like the applicant.
Applicants must have verifiable current employment at the time of application
and at the time of move in. Two (2) years of proof of employment immediate to
move in is also required to prove a consistent income source for the 24 months
before moving in.
1-6. INCOME: All
applicants must fall within the income guidelines set forth by Mallard Lake
Apartments, LLC. Proof of this income is required.
Any unreported income such as cash tip wages or self-employment
payments are not considered verifiable income. Other sources of income including
court-ordered alimony and/or child support (garnishments) will only be
considered as income up to 25% of the total income requirement. Payment from
personal parties such as relatives or friends for other work, daycare, or gift
allowances will not be considered as verifiable income.
Mallard Lake uses the following formula to determine the
income guidelines: 1 month of market rent = 33% of total monthly income.
Therefore, the applicant must have a minimum income of $42,875 per year to
qualify for a one-bedroom apartment, and $50,145 per year to qualify for a two
bedroom apartment. Proof of income must be given in TWO (2) of the following
1-6. a. Written
verification from the HR department or your authorized supervisor at your employer
verifying starting date, position, and current salary on business letterhead or
on the Mallard Lake faxed Employment verification form.
1-6. b. An employment
confirmation letter or job offer on business letterhead with confirmation of current
salary and start date.
1-6. c. Last two (2) paycheck
stubs from your current employer. Each paycheck stub must be verifiable and
must meet income requirements after any voluntary deductions and less any
bonuses or overtime.
1-6. d. Two (2) previous
1-6. e. A certified copy
of previous yearâ€™s tax forms showing total gross income.
1-6. f. Self-employed
applicants must submit tax returns from the two (2) previous years verifying
that income qualifications are met with consideration to gross income and after
1-6. g. Employment
confirmation or job offer letter containing starting date, position and salary.
For new hires, employment must begin no later than 14 days after the scheduled
The above requirements may be combination for husband
and wife, or parent and child. All others must quality independently. Students with student loans â€“ see current
**Applicants with no proof of income may be considered
for an opportunity lease with a higher security deposit and/or a prepaid rent
1-7. RENTAL HISTORY: Each applicant must provide one
(1) year of verifiable rental history at a current or previous residency as a
leaseholder. Applicants with less than one year of rental history may be asked
to enter into an opportunity lease to establish rental history. Family landlord
leases will not be considered verifiable rental history. Private landlord
rental leases are subject to proof of last 4 monthly payments paid on time and
a written report of good housekeeping w/clear extermination and no outstanding
damage charges for consideration. Applicants
coming from home ownership will not receive credit for rental history but will
have the mortgage payment history taken into consideration. Any applicant owing another landlord or
apartment complex for rent or damages will be automatically denied if the
balance has not been satisfied.
1-8. CREDIT REPORT AND CRIMINAL BACKGROUND CHECK:
report and background check will be processed on each applicant. If the
applicant is denied on the basis of credit, the applicant must contact the
credit bureau personally for a copy of the report. Should the applicant resolve
the discrepancy, the applicant will be reconsidered upon receipt of written
verification from the credit bureau of the resolved issue. Applicants with
credit scores of 575-650 are subject to a manager review and the possibility of
approval with conditions or an increased security deposit. Applicants with
credit scores below 575 are automatically denied. Any applicant with any
landlord/tenant collection or judgment on their credit for any reason will be
automatically denied unless they can produce a settlement letter.
background check will disclose criminal background information, state and
federal. If criminal activity is reported, the applicant is subject to denial
of his/her application for residency.
1-9. SECURITY DEPOSIT: A security deposit of $500.00 and a non-refundable application fee of
$100.00 for each applicant is required and must be paid when applying for
residency. Additional security deposit amounts may be required based on the
information obtained during the entire application process, ranging anywhere
from an additional $250 up to three (3) months of rent. When a resident moves
out, an automatic $175.00 Administration fee will be deducted from the security
deposit regardless of length of residency.
1-10. ROOMMATES: All roommates who are leaseholders must qualify
alone per the income qualifications, unless the applicants are married or are a
parent and child. If the co-applicant does not meet the income requirements,
management reserves the right to reduce the co-applicant from the status as a
leaseholder to an occupant only, based on the balance of the co-applicantâ€™s
1-11. VEHICLES: Only two (2) vehicles per apartment home will be
permitted. A parking permit must be displayed at all times. Parking permits
will only be issued to lease holders, but may be placed in any vehicle.
Violators will be towed at the ownerâ€™s expense. The Parking Rules and
Regulations are available upon request.
Applicants who move in with more than two (2) vehicles will be at risk
to have their lease terminated immediately.
DISHES: Up to two (2) satellite
dishes (19-21â€ in diameter) are permitted with a $250 deposit per dish, or one
(1) super-dish with a $300 deposit is permitted provided the Satellite Dish
Rider has been completed and the appropriate deposit has been paid to Mallard
Lake Apartments. Proof of additional renterâ€™s insurance is required and must be
provided. The satellite dish must be installed according to Mallard Lake and
FCC terms and conditions. The Satellite Dish Rider is available upon request.
1-13. UTILITIES: Mallard Lake Apartments is responsible for the gas, water, and garbage utilities. All other utilities are the responsibility of the resident. Mallard Lake
reserves the right to rescind any or all paid utility benefits at any time
without prior notice.
POLICY: Transfer applicants will not be considered new
residents, nor will they have access to the current new move-in specials if
they have been a leaseholder in an active lease within the last 12 months. Transfers
also cannot qualify for a resident referral.
See current policy for further details.
POLICY: See current policy.
1-16. PET POLICY: Residents with pets must reside in a pet designated
building only. A maximum of two (2) cats are allowed per apartment in
designated pet buildings. Dogs are always prohibited, including visiting dogs.
Exotic animals such as reptiles, parrots, snakes and ferrets are only permitted
with the managerâ€™s approval. The Pet Policy and Cat Addendum are available upon
request. Should you be found to have unregistered pets, fees and fines will
apply and your lease may be terminated.
1-17. RENTER'S INSURANCE: Policy and CAll residents are required to obtain a renter's insurance policy prior to moving into Mallard Lake Apartments. Proof of insurance will be required at time of move-in. Choice of insurance provider and amount of personal property coverage will be left to the resident's discretion. Mallard Lake requires a minimum of $100,000 in liability coverage.
SECTION II: Non-Qualifying Criteria for
The application approval process will be stopped immediately and the applicant will be asked for additional information if any of the following items are found during the application process:
bankruptcy is on the credit report and has not been discharged for more than one
(1) year, or is still in process and the applicant has not re-established
2-2. Falsification of
any information entered on the application forms.
judgments and/or unpaid collections (not including medical/student loan
collections). Utility and parking ticket
collections are at the managerâ€™s discretion.
2-4. Housing lawsuits/judgments
for non-payment of rent or negative rental reference.
2-5. Negative and/or
unsatisfactory references from current or prior landlords/lenders.
2-6. Conviction of a
felony, or for the manufacturing and distribution of any illegal/controlled
substances or weapons. Must exhibit no criminal conviction involving violence,
firearms, illegal drugs, theft, crimes involving theft, or destruction of
property, or any crimes involving a minor. Automobile convictions are subject
to the managerâ€™s discretion.
2-7. All misdemeanor
crimes on the criminal report are subject to management discretion.
2-8. Poor rental
history including bad housekeeping, NSF checks, two (2) or more late payments, extermination
issues and evictions.
2-9. Poor credit score
(under 575) or over-extension of credit commitments that limit cash flow.
2-10. History of repossession(s).
2-11. Lack of required application information submitted by applicant timely (within 48 hours of request).
If the above items are discovered and the explanation by the applicant is unsatisfactory or unresolved, the applicant may be automatically denied residency without addition time to remedy the issues. All application fees will be forfeited. In the event that the applicant does not meet the requirements stated above, management may approve the lease with prepayment consideration requesting 6-12 months of rent paid in advance of moving in.