Applicant Qualification Criteria

APPLICANT QUALIFICATION CRITERIA

The Trio Property Management

Before filling out an application, please review our list of criteria below

Rental Application

PROPERTY VIEWING: All applicants must tour the interior/exterior of the property before applying. If not all applicants are available to tour, one member of the group of applicants or another personal representative must visit the property in person and perform a video call (such as Skype, Facetime, etc.), or record a video tour of the property on behalf of those not present in person.

Personal representative must be identified in writing to the property manager. You may hire a leasing agent to serve as your personal representatives.

APPLICATION REQUIREMENTS: Each occupant 18 years of age and older must complete an application. A $50 non-refundable application fee must be paid by each applicant online by credit card before an application will be processed. An Application will be consider completed when we have received ALL of the following items via physical delivery, email or fax: 1. Completed Rental Application 2. $50 application fee 3. Copy of Photo ID 4. Proof of Income/Savings

PHOTO IDENTIFICATION: All applicants must show current/valid government-issued photo identification before move in. Any of the following forms of identification are acceptable: driver’s license, passport, or government-issued ID card with Social Security card or birth certificate.

INCOME: Monthly income of the combined applicants must be 3 times the rent of the apartment. All proof of income must be legal and verifiable. Please provide your proof of income in one or more of the following formats:

paystubs (No older than the last 3 months; Must include applicant name, employer name, and pay period)
employer contract or offer letter (must be on employer letterhead with applicant name and compensation summary included)
Self-employer(s): Please provide bank statement of the last 3 months (must show name of bank, account holder name, statement date, summary of deposits and balance) AND tax records for the previous year (W2, 1099, and first 3 pages of 1040)
Full time students (minimum of 12 credit hours) who do not have verifiable employment/income must provide proof of school enrollment and an acceptable guarantor.

SAVINGS: In the event an applicant does not have income, savings may be verified with three months of consecutive savings/checking account statements with an average balance totaling 3 times the annual rent. For example: if the monthly rent is $2000, Acceptable average bank statement balance = $2000 x 3 x 12months = $72,000

Please provide bank statement of the last 3 months (must show name of bank, account holder name, statement date, summary of deposits and balance)

ALTERNATIVE PROOF OF INCOME: Alternative proof of income must be lawful and verifiable. It includes, but not limit to: Section 8 vouchers, social security benefits, unemployment benefits, charity programs, maintenance or child support, and/or any federal, state, local government, private or nonprofit administered benefit program.

In the case of providing a voucher which is less than advertised monthly rent, applicant must provide proof of income qualification for difference (aka their portion) as described above. For example: if the monthly rent is $2000 and the subsidy is $1500, the required monthly income = ($2000 rent – $1500 subsidy) x 3 = $1500.

CREDIT/RENTAL HISTORY: Applicant history will be reviewed for late payments, collections, bankruptcies, and eviction records.

GUARANTORS: An applicant may acquire a guarantor if the income or credit requirements are not met. Qualified guarantors must meet all screening criteria, complete an application, and pay a non-refundable application fee. Guarantors must also have monthly income of 5 times the rent, or three consecutive savings statements of 5 times the annual rent.

FALSE INFORMATION: If at any time the applicant provides false information or a gross distortion of the truth on their rental application, it will result in an automatic denial. Such falsified information may affect legitimacy of tenancy if discovered in the future.

In the event an applicant has a sensory, physical, or mental impairment that limits a major life function, or needs meaningful access to the application form (i.e. applicant does not speak English and needs a translator) and is not able to complete an application in a timely manner, they can make a request for additional time or a reasonable accommodation to extend their application period for up to 72 hours. Please submit your request directly to the Property Manager with the requested timeline to complete the application, the reason for your accommodation request and documentation supporting your disability. Upon receipt of your request, the date and time received will be noted, and you will be put into the application queue based upon order of receipt. In the event your application is not completed within the request timeframe, we will proceed with the next application in line.

Lease Agreement and Move-in

LEASE SIGNING: Once your application has been approved, you will receive your lease agreement by email within 1 business day. You may also choose to schedule for lease signing with the property manager. It is your obligation to read through the lease agreement carefully and raise any questions or concerns. Once the lease has been provided to you, you have 48 hours to complete the lease signing and remit the move-in charges.

MOVE-IN CHARGES: Move-In Charges include First Month (or Prorated) Rent, Last Month Rent, and Security Deposit and can be submitted in forms of personal checks, cashier’s checks, money order or online ACH/credit card payment (see below instruction for tenant portal). Security Deposit and Last Month Rent are due upon signing of the lease agreement, and First Month (or Prorated) Rent is due on your move-in date. You will need to remit your Security Deposit upon signing of the lease in order to secure the unit.

Your tenant portal has been activated upon signing of the lease. The portal can be used for submitting move-in charges/rent payment and maintenance requests. To access your tenant portal, go to www.thetrioproperty.com, click Login under For Tenants, and sign in with your email and password.

If you prefer to submit payment by check, please write the check payable to The Trio Property Management or TTPM, and mail to our address @ 40 Lake Bellevue Drive, Suite 122, Bellevue, WA 98005.

RENTERS INSURANCE: Renter’s insurance is a requirement for leasing with us. You must provide us with the Declaration Page from your insurance policy showing: