Below is a summary of our typical rental criteria. Please note that this information is subject to change and this serves as a generic guide. Other criteria, restrictions and exceptions may apply. 

Four (4) Requirements to be eligible for a standard refundable security deposit:
  1. Acceptable Credit Rating per Resident Screening system.
  2. Approved Criminal Rating per Resident Screening system.
  3. Twelve (12) months of positive verifiable rental history or home ownership.
  4. Combined Gross income (including co-applicant) shall be A MINIMUM of three (3) times the rent amount.
    • Six (6) months of current employment, validated by pay stubs showing YTD earnings.
    • Self-employed persons will need to show proof of income (tax returns, etc.) for past 2 years.
    • Income may include sources other than employment such as Social Security or retirement accounts.
    • Applicants who cannot provide proof of income from a verifiable source must have 36 months of the monthly rental rate in a verifiable savings account.
    • Food stamps and Unemployment will not be considered income.
Requirement when Resident Screening credit rating indicates “Conditional Accept and all other criteria have been met:
Deposit shall be equal to $400.00 to proceed.

Requirement when Monthly Income/Employment does not meet 3x the rental rate and all other criteria have been met:
If the Applicant can provide satisfactory evidence of at least 2.5 x -2.9X the rental rate and all other criteria have been met deposit must be equal to 1.5x the monthly rent to proceed.

If the applicant is below 2.5x and all other criteria have been met, an approved co-signer or 36 months’ worth of rent in a verifiable saving account is required to proceed unless the applicant is a verifiable student.
Requirement when Applicant has less than Twelve (12) Months of positive verifiable rental history but all other criteria have been met:
Deposit shall be equal to 1.5x the monthly rent to proceed.

Background Check:
Misdemeanor convictions will be reviewed and depending on the severity of the offense and may result in a denial of the application.

A felony conviction may be grounds for a denial of the application.  
Occupancy Standards:
All persons over the age of 18 must be a signer on the lease contract. Occupants are limited to those limitations put in place by state, federal, or local rule or ordinance. There may be some variations to the above occupancy standards based on square footage of the unit/bedrooms.
Renter’s Insurance:
Lease Holder(s) must present evidence of Liability Renter’s Insurance coverage including Personal Liability for $300,000 and a minimum deductible of $500.  NOT ALL POLICIES ARE THE SAME.  Many policies have limiting language that cause coverage for certain losses to be denied.  Take extra caution to read and understand your policy.  Be sure to obtain a policy that has a comprehensive coverage policy.  An example of non-limiting policy language is as follows: “We insure you against accidental direct physical loss of or damage to personal property owned or rented by you. We also insure additions and alterations to the residence premises made by you at your expense during tenancy”.  The policy must include the Property Name listed as an “Additional Interested party” and must remain in effect for the term of the lease. 

Other Conditions:
Property Manager reserves the right to review the application based on all rental criteria requirements and may opt to decline the application.


A Credit Report and Criminal Background Check will be completed for all applicants and occupants eighteen (18) years of age and older.

All credit and background information are supplied through Yardi Resident Screening.
Applicants must have one (1) Government issued ID (Driver’s license, Social Security Card, Passport, or Visa) and one (1) additional form of ID such as (Bank Card, Health Insurance Card, Credit Card, etc.) that includes their full first and last name.   A photocopy of all ID’s will be required for our files.

I also understand that I will be required to pay a holding deposit which is non-refundable however, if my application is denied I will receive a refund in accordance with federal, state and local regulations. If I cancel my reservation after a period of 48-hours, the Holding Deposit is automatically non-refundable. If approved, any holding deposits will be applied to move-in charges at time of move-in. If applying on line, the holding deposit will not be charged until application is approved.

I also understand that within 48 hours of applying for an apartment, all applicants including myself must 1) pay all applicable upfront fees, 2) complete an Application, 3) provide a copy of their Driver’s license or other issued Government photo ID, 4) pay stubs showing YTD earnings that must demonstrate earnings of at least three (3) times the rent amount for each of the three (3) consecutive months prior to application. If Applicant has been with their current employer for less than one year, verification of employment for the six (6) months prior to the Applicant’s hire date with their current employer will be required, 5) the Rental verification is filled out by the current residency and 6) must sign this Rental Criteria or my application may be cancelled and all upfront fees will be forfeited.
Co-signer Qualifications:
Co-signers combined income must equal to six (6) times the current monthly rent, and pay their own mortgage/rent, and other monthly financial obligations to be considered.

Gaines Investment Trust is fully committed to equal housing opportunities. We do not discriminate against anyone based on race, color, religion, sex, handicap, familial status, or national origin, as stated in the Federal Fair Housing Law.  Falsification of any portion of this application will result in denial.

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