OCCU PA N C Y S TA N DA R DS A PPLI C AT I O N
The following general occupancy standards apply based on 2
persons per bedroom, plus one per home. (Occupancy standards
may vary by region based on local laws.) Applicants are required, unless otherwise noted, to pay a $35.00
non-refundable application fee to authorize a background check
and additional qualification processes. All Applicants are required
to furnish valid identification. Non-US citizens applying to a home
may be required to present information acknowledging the
individual’s right to live in the United States through the duration
of the lease term.
Bedrooms
Number of Persons
1 3
2 5
3 7
4 9
5 11
Residents who exceed these occupancy standards, will be re-
quired, upon the end of the current lease term to either:
• Transfer into another available home which
has more bedrooms;
Properties may not be held off the market in excess of fourteen
(14) days without additional the approval of a FirstKey Homes
representative.
Upon Applicant approval, Leases are required to be signed within
24 hours of generation. In the event Lease is not signed within
the 24-hour time period FirstKey Homes may elect to cancel the
application and place the home back on the market. Full Security
Deposit must be received in local office within 48 hours of lease
signing and must be paid with Cashiers Check or Money Order. If
funds are not received within 48 hours of lease signing, FirstKey
Homes may elect to cancel the lease and place the home back on
the market.
• Terminate lease. I N CO M E
AG E Combined household income must be equal, but not limited to a
minimum of three (3.0) times the monthly rent.
Applicants must be 18 years of age or older unless deemed
to be an adult under applicable law with respect to the execution
of contracts.
All persons occupying the property need to be identified in the
application; this includes all minors under the age of 18.
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Rental Qualification Criteria • FirstKeyHomes.com
If a household has more than three (3) Applicants, Landlord will
use only the 3 highest qualified incomes in calculating the
combined household income.
Applicants that do not meet credit scoring criteria will not be
counted towards income qualification.
*Example
Monthly Rent = $1,000.00
Minimum Combined Monthly
Gross Household Income = $3,000
*We consider many factors when evaluating applicant’s ability to
pay rent. The example above is for illustrative purposes only and
does not guarantee that you will be approved.
Employment: Applicants that are employed will be asked to
provide proof of income for the past four (4) consecutive weeks
unless otherwise advised by a representative of FirstKey homes
Additional Income Sources: Social Security, Child Support,
Disability, Retirement, and Bank Statements are accepted.
• All income should be verified and evidenced by the source
of income. If income is not verifiable, FirstKey Homes may
request additional information for verification
• Job Transfer/New Role: Applicants with an offer of
employment or transfer of role from their existing
employer is required to provide an Offer Letter and/or
Transfer Letter on employer letterhead confirming terms
of compensation and start date. The letter should be
signed and dated by the offeror.
• Landlord may elect to accept pre-paid rent or qualifying
Guarantor in instances where income is deficient and
cannot be met.
CREDIT REQUIREMENTS
A review of credit history is entered into a scoring model to
determine rental score for each application. The rental score is
determined from an analysis of information found in each
applicant’s consumer credit report, application, and previous
rental histories (if applicable). Consumer reports may include but
are not limited to payment history, bankruptcies, number and
type of accounts, collection activity, outstanding debt and credit
inquiries. In addition, the scoring process includes income-to-rent
ratio, eviction records, and subprime credit records.
Security Deposit is determined by the score of the application
and may result in an increased security deposit for approval.
Applicant(s) are subject to further verification at the request of
FirstKey representative.
O FAC- O F F I C E O F FO R E I G N A SS E T S CO N T RO L
An OFAC search is completed for each Applicant. If Applicant
appears on OFAC list, the application will be denied.
C R I M I N A L H I S TO R Y
A criminal background check will be conducted for each applicant
and occupant age 18 years or older. Criminal histories presented
through applicant screening report pertaining to weapons, drugs,
violence, or any other act that poses a threat to household,
neighborhood, vendors, FirstKey employees, or the physical
property itself, may result in a denial.
Denied Applicants may request reconsideration of Landlord
decision by providing additional information to assist Landlord in
its review of criminal findings.
FirstKeyHomes.com • Rental Qualification Criteria
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