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Minimum Criteria Checklist for Lease with Option
to Buy After Repairs Are Made
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House Address _________________________________ Applicant’s
Name _________________________________
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| Automatic Rejection: Applicant
will be automatically rejected if any of these are present |
| Applicant’s total
gross household income is less than 3x the monthly payment |
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| Applicant has been
convicted of a violent felony, a drug-related felony, or a sexual felony |
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| Applicant has lied
on the application about any of the following:
Current or previous landlord/manager’s name ______________________________
Job history or current employer _________________________________________
Applicant’s identity or social security number ______________________________ |
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| Applicant has been
plaintiff in a lawsuit other than auto or class action, applicant is an
attorney, paralegal, or law/paralegal student. |
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Other Criteria: Applicant must achieve 15 points
according to the following system
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| Landlord Reference |
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| Good reference from last two landlords;
no complaints; would re-rent |
3 points |
| Good reference from one landlord,
no reference from other |
2 points |
| No reference from either landlord,
unit clean and well-kept on inspection |
1 point |
| Bad reference from either landlord |
-1 point |
| Rental History (last
24 months) |
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| No late payments in the last 2
years |
3 points |
| Payments less than 10 days late
but caught up |
2 points |
| Payments more than 10 days late
but less than 30 days late, caught up |
1 point |
| Payments more than 30 days late
OR evicted & moved out before set out |
0 points |
| Set out one time |
0 points |
| Multiple set outs or multiple
eviction moves |
-1 point |
| Current rent vs. Proposed
rent |
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| Current rent is the same or more
than new rent |
2 points |
| Current rent is not more than
15% less than new rent |
1 point |
| Current rent is 15 - 30% below
new rent |
0 points |
| Current rent is more than 30%
below new rent |
-1 point |
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| Job Stability |
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| Has been on same job for more
than 24 months |
3 points |
| Has been on 2 jobs, same line
of work in past 24 months |
2 points |
| Has been on 2 jobs, different
line of work in past 24 months |
1 point |
| Has been on more than 2 jobs in
the last 24 months |
0 points |
| Has no employment income |
-1 point |
| Applicant’s ability
to complete necessary work |
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| Has proven ability to do all types
of work that the property needs |
3 points |
| Has proven ability to do majority
of work that the property needs |
2 points |
| Has friend/relative with proven
experience who will guarantee work |
1 point |
| No ability to do the work |
0 points |
| Subtotal |
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The following criteria may be used to make UP TO
5 additional points if needed
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| Each extra ½ month’s payment
paid as option consideration |
1 point |
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| Co-signer with good credit AND
real estate |
1 point |
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| Applicant earns more than four
times the monthly payment |
1 point |
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| Total |
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APPLICANT MUST HAVE 15 POINTS TO QUALIFY
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| Accepted |
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| Rejected |
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| Notes: |