Qualification Standards

Equal Housing

Franklin Communities conducts business in accordance with the Fair Housing Act. We do not discriminate based on race, color, religion, national origin, sex, familial status, disability, sexual orientation, gender orientation, gender identity, legal source of income, or any other basis protected by applicable state or local fair housing laws.

Applications

Each person that will occupy the apartment who is eighteen (18) years of age or older must complete an application and sign the lease. Applications are to completed in full. Applications containing untrue, incorrect or misleading information will be declined. Each application is evaluated with a scoring method that weighs the indicators of future rent payment performance. The score is based on statistical analysis of prior renters' indicators and subsequent payment performance including public records, civil judgements, collection accounts derogatory accounts. Based on the score, we may choose to accept or decline an applicant, or seek additional requirement for approving the lease.

NOTE: the following MUST accompany ALL applications: see additional requirements.

• $50 application fee per applicant 18 and older.
• 1st month's rent is due as a nonrefundable deposit within 24 hours of approval.
• The two (2) most recent original pay stubs or Leave and Earnings Statement or offer letter on company letterhead (copies to be maintained in resident file).
• A valid drivers' license, military ID or state issued Photo ID card (view and document only). Expired documents are not considered valid.
• All applicants in the United States on a visa must list the visa number and expiration date on the Application for Residency. Lease agreements will not be written for terms beyond the visa expiration date.
• Applicants without SSN or ITIN number must provide a valid I-94, I-94W, I-20. Lease Agreements will not be written for terms beyond their expiration date.
• We require Renter's Insurance for each apartment with $100,000 liability.
• The security deposit is due before move in date. The security deposit is equivalent to 1.5 month's rent; if a tenant is 62 years or older, the landlord may only charge up to one month's rent as a security deposit.

Credit History

Credit reports will be run on each applicant and will be considered in the overall credit worthiness of the applicant. Unsatisfactory credit history can disqualify an applicant from renting an apartment home at this community. An unsatisfactory credit report is one that reflects past or current bad debts, late payments or unpaid bills, liens, judgements and/or bankruptcies. If an applicant is declined for poor credit history, the applicant will be given the name, address and telephone number of the credit reporting agency that provided the report. An applicant declined for unsatisfactory credit is encouraged to obtain a copy of the credit report from the credit reporting agency.

Rent/Mortgage Payment History

Any legal proceedings/judgements/evictions/skips may result in a declined application. Outstanding rental balance at Franklin Communities will result in a declined application.

Employment History

Employment must be verified. In the case of new employment, applicant must present a signed offer letter on company letterhead stating income. Employment must being within thirty (30) days of the lease start date. Self-employed applicants must provide the most current annual tax return (submission of 1099's only is not sufficient) or a notarized statement from a Certified Public Accountant or attorney indicating the amount of anticipated annual income.

Income Requirements

Gross monthly household income must be sufficient to cover the rent and other typical household obligations. This gross monthly income must be greater than or equal to two and a half (2.5) times the monthly rent. For savings to considered in lieu of income, applicant may provide a current savings account statement showing proof of at least three (3) times the annual rent. Official documentation must be submitted to support the following, and any other, sources of additional income you wish us to consider:

• Child Support
• Military Housing Allowance
• Investment Account
• Interest
• Trust Fund Income
• Dividends
• Retirement Income/Savings
• Alimony

Criminal History

A criminal history and multi-state sex offender search will be conducted for each applicant. The multi-state sex offender search will be run for all addresses at which the applicant(s) has resided. The application will be rejected for any sex related conviction or for any of the following reported criminal related reasons that have occurred prior to the applicator date: Any related charges resulting in "Adjudication Withheld" and/or "Deferred Adjudication" Active status on probation or parole resulting from any sex related.

Roommates

Each resident is jointly and severally (fully) responsible for the entire rental payment as well as all community rules and policies. Management will not refund any part of a security deposit until the apartment is vacated by all leaseholders.

Occupancy Guidelines

Occupancy Guidelines are governed by State, City, and local ordinances.

Studio: Two (2) occupants (excluding children under the age of 18 months)
One Bedroom: Two (2) occupants (excluding children under the age of 18 months)
Two Bedroom: Four (4) occupants (excluding children under the age of 18 months)
Three Bedroom: Six (6) occupants (excluding children under the age of 18 months)

An occupant will be considered a resident and must be listed on the lease agreement if he or she resides at the premises more than 50% of the time.

NOTE: Lofts and dens are not considered bedrooms.