Security Deposit: A security deposit is required at time of move-in in certified funds. The deposit can range anywhere between $200 up to a month’s rent.

Credit Criteria: Applicant’s credit is processed through Better NOI. There are four levels, accept with normal deposit, accept conditionally with ½ to 1 month’s rent deposit and decline.

Background Check: All applicants that have a felony or any drug charge convictions (even drug charges that are not felonies) may not be accepted. Drug charges will only be allowed if they were misdemeanor charges and occurred at least 10 years ago. Any felony conviction within the past 10 years may be automatically declined. Misdemeanor convictions and felony convictions (not against a person or sex crime) must be at least 10 years old. No crimes against persons or sex crimes will be allowed.

Rental Verification: Rental/ownership history will be verified for the past 24 months. Applicants who have been late 4 or more times in a 12-month period mays be denied. The only exception to this rule is if the mortgage on the credit report reflects positive monthly payments 33% higher than the monthly rental rate offered at Sycamore at Tyvola. Evictions filed within the past 84 months and are paid in full are required 1 months’ rent as a deposit. Eviction filings by current/previous landlord may result in denial of application. Evictions filed within the past 12-months may result in automatic denial. Management reserves the right to verify all rental history, as well as the right to decline any application that we cannot verify information and/or discover false information. In this instance, all funds will be forfeited even if within the 72-hour window.

Income Verification: All applicants must make at least 3 times the monthly rental rate before taxes. Applicants must provide their most recent pay check stubs – if bi-weekly provide 2 stubs, if weekly 4 stubs, and if paid monthly provide 2 stubs. An offer letter will also be accepted if it is dated within the past 30 days. Bank statements can also be provided for the last 3 months showing consistent deposits of 3 times the amount of rent per month or showing a revolving balance in your account for 3 times the amount of rent for the term of the lease. EX: Rent is $1000 per month for 12-month lease. You must show bank statements for 3 months showing a revolving balance of $36,000. For persons that are self-employed: you must provide a copy of the most recent 1040 and accompanying schedules of the tax return. If the business is new, copies of bank statements and an estimate of future income must be provided by a certified accountant. If the applicant(s) do not meet this requirement, a guarantor will be required. Management reserves the right to verify the authenticity and accuracy of any proof of income provides, as well as the right to decline any application that we cannot verify information and/or discover false information. In this instance, all funds will be forfeited even if within the 72-hour window.

Occupancy Standards:
1 Bedroom: 2 Occupants
2 Bedroom: 4 Occupants
3 Bedroom: 6 Occupants.

Application Fee: The application fee is used by management for the fees of processing the application(s), which include credit history, criminal background and rental verification. Applicant(s) understand this fee is not refundable. By signing, the applicant(s) confirms that the information provided by them is correct and not falsified in any way. If management discovers information that is false, applicant agrees and understands that their application can be rejected and not considered for residency now or in the future. The $75 application fee and $200 admin fees are non-refundable. Applicant also acknowledges a copy of our price sheet and qualifying criteria was provided to them at time of application.

Applicant Authorization and Release: The applicant, by signing this application, gives permission to management to attain a credit report, criminal background report and all other information needed to aid in the assessment of the application. Applicant(s) agree that information management acquires may include credit history of the applicant(s), criminal records, civil judgments, arrest records, rental history, employment and salary information, vehicle and driving records. The applicant(s) understands that other information may be obtained and is not limited to the above examples. The applicant(s) understand and agree to release management, their investors, employees, principals, agents, owner(s) and vendors of the community, and any furnisher or supplier of the information related to the application from all liability in the procurement, use, possession or/and distribution of the information obtained. Applicant(s) agree that information obtained or provided in the application and consumer reports may be given to state, local, and/or federal agencies. And disposal of the application or information obtained by management will be done in accordance with 16 CFR par 682 and N.C. Gen. Stat. 75-64, et seq.

Approval or denial of an application: is based upon the combination of results of the following: credit check, criminal background check, eviction records, rental history, and accuracy of information provided on rental application. Failure to provide accurate information during application process may result in denial of application. If application is denied based on falsified, inaccurate or incomplete information provided by applicant(s), all funds provided will be held by Lessee as liquidated damages.

Business Practices: We do business in accordance with the Federal Fair Housing Law. It is illegal to, and we do not, discriminate against any person because of any protected class in which they may belong to, including, but not limited to race, color, religion, sex, handicap, familial status or national origin.