RENTAL APPLICATION INFORMATION AND REQUIREMENTS
Who Must Apply: Every person at least 18 years old who will occupy the unit more than 14 days per year must complete an application and qualify.
Identification: Original government issued photo identification issued by a United States of America government agency or by a state agency within the USA must be presented.
Social Security Card: Original card must be presented. The name must match the name on the identification. Middle names must match middle initials.
Credit History: Every applicant must have a credit score of at least 620 from each credit bureau requested. The credit history of every applicant must be free of derogatory items related to housing including but not limited to balances owed to landlords and utilities.
Income Amount: The combined gross monthly income of no more than two applicants must equal at least 3 times the monthly rent for single family homes and condos and 2.5 times the rent for apartments. The combined amount of the rent payment, and all loan or debt payments, child support, alimony, and court ordered payments may not exceed 45 percent of the qualifying income determined by credit report or other means of verification.
Income Verification: All income is subject to verification.
- Wage income must be received from an employer that you are currently employed by, have been employed by for at least 90 days, and expect to continue being employed by if the application is approved. Paycheck stubs covering the most recent 30 days must be presented, and may be original or electronic. Wage income may also be verified by an accepted written offer of employment by an employer entity that is publically traded or a government agency. All wage income is subject to further verification including but not limited to verification of the existence and viability of the employer, verification of tax returns or tax transcripts, or by other means of verification at the sole discretion of KREM. Verification of wage income history is for the purpose of determining the likelihood that that the applicant will continue to receive wage income in the future.
- Public assistance income must be documented with an original Verification Of Benefits form from the County of Los Angeles Department of Public Social Services or other original verification document issued by agencies such as Social Security, within the previous 30 days.
- Self employment income and income from investments, assets, or trusts must be documented with the most recent two years of complete tax returns and a year to date statement of income and expense through the end of the most recent month signed by a Certified Public Accountant.
- Child support and alimony income must be documented with a verifiable court order and bank statements showing actual receipt of the payments, or a record of payments through a government agency, and must be expected to continue for at least one year.
- Structured judgment payouts, settlement payouts, lottery payouts or similar payouts must be documented and payable for at least 5 years.
- Assets must be equivalent to at least 3 times the amount of rent for a 5 year period to be considered as a replacement for income. The nature and liquidity of the assets will be considered.
Residence History: Residence history for the most recent five years must be documented with the living situation, the address if applicable, the beginning date, the ending date, and no gaps. Some examples of residence history might include:
- Living in housing rented or leased by applicant, responsible for paying rent. Must provide name and contact information for person or company that the rent was payable to.
- Living in housing rented or leased by someone else, not responsible for paying rent. Must provide name and contact information for person or company that the rent was payable to even though applicant was not a party to the rental agreement.
- Living in housing owned by applicant, responsible for paying loan payments if any.
- Living in housing owned by someone else, not responsible for paying rent. Must provide name and contact information for person or company that owned the property.
- Not living in conventional housing for any reason including but not limited to deployment, incarceration, extended traveling, homelessness, hospitalization, institutionalization. Explain the residency in as much detail as possible.
All residence history is subject to verification. Verification of residential history is for the purpose of determining the likelihood that the applicant will comply with the rental agreement in the future including, but not limited to, making rent payments on time, caring for the property, not using the property for illegal acts, and not disturbing or endangering other tenants or neighbors. If the applicant has been a party to an unlawful detainer action (eviction) the application will not be approved.
Criminal History: All criminal history is subject to verification. Verification of criminal history is for the purpose of determining the likelihood that the applicant will negatively impact or will be a danger to the landlord, other tenants, neighbors, or property. Consideration will be given to the nature of the crime the applicant was convicted of and the length of time that has passed since the crime was committed.
Application Fee: Applicant must pay a fee of $40 prior to the application process being started. Because the fee is significant, applicants are strongly encouraged to view the premises prior to submitting an application.
Submitting An Application: We do not offer any way to submit an application online, so applications must be submitted at our office location. However, you can get started with the application process by downloading, printing, and completing the following two part application: