Application Processing
(Make check payable to:)
P.O. Box 3940
Philadelphia, PA 19146-3940
Application fees are $35 for each applicant and $35 for each co-applicant. Application fees are non-refundable. Personal checks will not be accepted for moving in unless it has time (approximately three weeks) to clear the bank prior to moving in. Submission of a personal check that does not clear the bank may affect the approval process and will be subject to $ 50.00 fee. Upon moving in, all monies must be paid by CERTIFIED CHECK or MONEY ORDER and paid in full prior to moving in. Rent will be prorated if your move in date begins after the 1st of the month.
The property can be taken off the market with a holding fee for One Month Rent and will be applied to the First Month Rent. Holding fees may be returned upon request within 72 hours. All holding fees become non-refundable at the end of this three-day period. Holding fees are always refundable if the application is denied. (Refund of deposited monies may take up to one week to process). This amount is non-refundable after 72 hours.
We cannot begin the process without a completed application and application fees. Incomplete applications and application without the processing fee will not be process.
To apply, an applicant must be 18 years or older. All other applicants 18 years or older must complete an application, be subject to the credit check and sign the Lease. All residents under the age 18 must be listed as occupants both on the application form and on the Lease. All qualified applicants who will be contributing to the payment of rent must be on the Lease as Leasee(s).
Verifications of up to two years of present and former employment and rental history must be provided. Written backup, including two recent pay stubs, two recent bank statement, two recent utilities bills (Gas and Electric) and two recent rent receipts or lease is required. Self employed, or individuals providing income information from sources other than employment, must provide written documentation. This documentation can be in the form of a notarized letter from the employer, most recent W2, recent tax return, certified verification from company accountant or bank, proof of assets equal to 1.5 times the FULL lease amount, or Government documents detailing benefits (government agency or pension provider). Agreements of Sale on real estate, court documents and certain bank statements are also acceptable. The responsibility for providing accurate and complete information rests with the applicant. Applications cannot be approved until all information has been verified.
QUALIFYING CRITERIA
INCOME:
Income levels have been determined by the following formula: Rental Price x 12 x 3 = Annual income. Each roommate/co-applicant must have a gross income source that is at least 3 times the monthly rent. (Example: Rent is $650.00 divided by 2= $325.00 x 3 = $975.00). All applicants must sign all lease documents and will be held legally responsible for the lease.
BANKRUPTCY:
Declined unless dismissed for at least 3 years and three months Security Deposit Required.
CRIMINAL ACTIVITY:
If it is documented that the applicant or any household member of the applicant is engaged in or has been convicted of criminal activity or acts of violence, the application will be rejected.
This company is committed to DRUG FREE HOUSING. The lease agreement prohibits criminal activity including drug-related criminal activity on or near the premises. Violations of this lease provision will be considered cause for termination of tenancy.
APPROVAL/DENIAL PROCESS:
Our credit checks are run through First American Registry. A source is generated by them based on a variety of factors including income, credit history and rental history. Points are assigned to the application by First American Registry based on this information. CCFS is required to adhere to their point assignment when approving or denying the application. Currently, all applications receiving a score of 180 or higher are approved. Those applications receiving a score of 160 to 180 are accepted with an extra month security deposit (3 months total as the security deposit) plus the first month rent. Any application scoring below 160 is denied.
PET POLICY:
Cats are permitted if they have been declawed. Dogs are permitted if they are less than 50lbs. Pet fees are as follows (cat), (dog) and other are $ 650.00 (One Month Rent) and is subjected to non-refundable Security Deposit per pet.
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