Skip to main content

Rental Criteria

Rental Criteria

Rental Criteria

Statement of Rental Policy Qualifying Criteria

Country Club Senior Communities

Las Vegas, Nevada

Gaines Investment Trust utilizes an electronic verification system that authenticates valid ID’s and verifies employment and income.

  •  All applicants must provide a valid government issued photo ID. Expired ID's will not be accepted.

  • IDENTIFICATION DOCUMENTS REQUIRED: Acceptable photo ID can be a valid Driver’s License, State Identification Card, Passport, Military ID or US Government issued picture ID upon submission of application. We accept COLOR scans in clear condition or photos of original documents ONLY. 

  • Any falsification of the applicants' personal identifiable information (SSN, Name, DOB) will result in the automatic denial of the application or cancellation of move in. All deposits and fees paid will be non-refundable. The denial will apply to all applicants listed on the application. 

If the above requirements cannot be verified electronically, the following manual verification will be required. 

Four (4) Requirements to be eligible for a standard refundable security deposit:

  • Acceptable Credit Rating per Resident Screening system.
  • Approved Criminal Rating per Resident Screening system.
  • Combined Gross income (including co-applicant) shall be A MINIMUM of two and one half (2.5) times the rent amount plus RUBS.
    • Six (6) months of current employment, validated by pay stub showing YTD earnings that must demonstrate earnings of at least two and a half (2.5) times the rent amount for each of the three (3) consecutive months prior to application.
    • Self-employed persons will need to show proof of income (tax returns, etc.) for past 2 years and must demonstrate earnings of at least two and a half (2.5) times the rent amount for each of the three (3) consecutive months prior to application.
    • 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 verifiable savings account.
    • Proof of Social Security payments (bank account with direct deposit by the US Treasury, award   letter)
    • Food stamps and Unemployment will not be considered income.
  • Twelve (12) months of positive verifiable rental history or home ownership. If renting from a Private Owner, written documentation will be required.

Requirement when Resident Screening credit rating indicates “Conditional Accept” and all other criteria have been met:

  • Deposit shall be equal to 1 month rent to proceed
  • Property Manager reserves the right to review the application in its entirety and based on the other factors may opt to decline the applicant.

 

Requirement when Monthly Income/Employment does not meet 2.5x the rental rate and all other criteria have been met:

  • If the Applicant is below 2.5x – an approved co-signer or 36 months’ worth of rent in verifiable savings account to proceed.
  • Property Manager reserves the right to review the application in its entirety and based on the other factors may opt to decline the applicant.
 

Requirement when less than Twelve (12) Months of positive verifiable rental history but all other criteria have been met:

  • Deposit shall be equal to 1 month rent to proceed.
  • Property Manager reserves the right to review the application in its entirety and based on the other factors may opt to decline the applicant.

 

Background Check:

  • Misdemeanor offenses will be reviewed and depending on the severity of the offense, and in the sole discretion of the landlord/manager, may require a co-signer or larger deposit to be approved.

  • All Felonies will result in application denial.    

 

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:

  • A Credit Report and Criminal Background Check will be completed for all applicants and occupants fifty-five (55) years of age and older.  If legally married, the same requirements will apply for applicants forty-five (45)  forty-five (45) years of age or older.

  • All credit and background information is 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.

  • Applicants with unpaid judgments, collection accounts, “skips” or “evictions” from other rental properties will result in automatic denial of application. If Applicant has a COVID-19 eviction, it is the applicant’s sole responsibility to submit proof that the terms of any such eviction are directly and irrefutably associated with financial hardship caused by the pandemic as defined by the State of Nevada. Gaines Investment Trust retains the sole discretion to assess applicant claims of COVID-19 eviction.

  • 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 of the Holding Deposit in accordance with and federal, state, and local regulations. If I cancel my reservation after a 48-hour period, the Holding Deposit is automatically non-refundable. If approved, any holding deposits will be applied to move-in charges at time of move-in.

  • I also understand that within 48 hours of applying for an apartment, all applicants must 1) pay all applicable upfront fees, 2) complete an Application, 3) provide a copy of your Driver’s license or other issued Government photo ID, 4) provide pay stub showing YTD earnings that must demonstrate earnings of at least two and a half (2.5) times the rent amount for each of the three (3) consecutive months prior to application.5) the Rental verification is filled out by your current residency and 6) you must sign this Rental Criteria or your application may be cancelled and all upfront fees will be forfeited.

  • NON-SUFFICIENT FUNDS/DECLINED OR STOP PAYMENT FEE: If Applicant fails to have sufficient funds available to support a transaction drawn upon an account (bounced check, rejected ACH transaction) or should Applicant sop payment upon or issue a cancellation of such a transaction after it has been tendered to Management, Applicant agrees to pay Management a fee for the rejected transaction in an amount equal to $125 plus the charge assessed to Management by involved financial institutions.    

 

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 financials 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 application will result in denial.

I have read and understand the qualifying criteria of this community. I understand that I am paying a non- refundable application fee per person that will not be returned to me under any circumstances.

 

Revised 11/23/22