Rental Qualification Standards

Updated 01/23/2025

All applicants 18 years and older must apply and qualify on all rental qualifications to become a lease holder. Co-signers and/or guarantors are NOT accepted.

*Application Fee is $45.00 per applicant* 

How to apply!

1. We require prospective residents to tour our properties before submitting an application so thank you for touring!
2. Please apply on our website www.humphreysresidential.com.
3. Find the property and click ‘Apply Now’. Everyone 18 years and older will need to apply. Each application fee is $45.00
4. Please upload the proper documentation with each application.
5. Review our rental qualifications!
6. Upload a PDF copy of an ID
7. Upload a PDF copy of proof of income
8. You will be notified via email about the status of your application!

Income

The combined verifiable gross income from all lease holders must be at least 3X the amount of the rent.

• Unverifiable income such as tips and cash income cannot be accepted as a contribution to the gross income.
• Income can be verified by a year to date pay stub, an offer letter, a disability statement, or the assistance voucher.
• Section 8 income is always accepted. Applicant must show gross verifiable income 3x the balance of the market rental rate minus the voucher.
• In the event of self-employed or retired applicants, income may be verified by a schedule C from the most current tax return as well as the most recent three months of bank statements, from which deposits will be averaged.
• Applicants who are using assets to fund the rent must show assets equal to 12X the rent. This can be verified by providing copies of 3 months of investment statements or in cases such as with graduate students, paperwork confirming the available annual grant income.

Credit

Applicants should not have any current or previous collection accounts unless they are medical and can be explained. There should be no delinquencies in revolving accounts in the last 12 months.

• In the event that ALL other criteria are fully met, consideration may be given to override the following situations:
• CLOSED bankruptcies
• One (1) small revolving account delinquency of no more than 30 days, on a balance of $250.00 or less
• One (1) small collection account under $250.00, account will need to be paid off and verification of payoff provided.
• Applicants receiving rental subsidies, such as Section 8, may elect to provide alternative evidence of financial responsibility and ability to pay in lieu of credit history.

Rental References

Applicants must have at least two (2) excellent recent rental references from prior landlords. In the event of applicants who have owned homes the mortgage history will serve as confirmation of good payment history.

Factors Impacting Applications

• Applicants must have toured the home before applications will be considered
• Preference may be given for ‘in person tours’
• Intended length of tenancy
• Applicants lease Start Date as noted on the application
• Strength of Credit Score
• Strength of Rental References
• NOTE: We do not process incomplete applications. Please make sure your application(s) includes all necessary documentation and attachments prior to submitting.

Thank you again!