The purpose of this credit screening is to assess the financial responsibility of applicants for tenancy/lease in our RV park. The information collected will assist in determining whether the applicant has the financial stability to meet their rental obligations.
Credit Report Requirements
- Minimum Credit Score:
- Acceptable: 700 or higher
- Conditional Acceptance: 550-699 (requires additional deposit)
- Decline: 549 and below
- Credit Report Check Includes:
- Review of credit score.
- Review of credit history for any outstanding debts, delinquencies, or bankruptcy filings.
- Identify any patterns of missed payments or defaults.
- Bankruptcy History:
- Applicants with a history of a discharged bankruptcy will require additional deposit.
Income Verification
- Minimum Income Requirement:
- Applicants must have a monthly income of at least 3x the rent or lease amount.
- No verifiable income is an automatic denial
- Acceptable Documentation:
- If employed, pay stubs for the last two pay periods.
- If unemployed, Tax returns (last two years) and one other option below (Banks statements or evidence of another source of income).
- PDF Bank statements (last three months).
- Other evidence of reliable income (e.g., pension, benefits, self-employment income).
Employment History
- Minimum Employment Duration:
- Applicants must have at least 6 months of consistent employment history with current employer or a new contract that will cover the term of their residency.
- Acceptable Verification:
- Contact current employer (with applicant’s permission) to confirm employment.
- Pay stubs or bank deposits showing consistent payments.
Rental History
- No evictions
- Applicants with a history of evictions may be declined
Criminal Background Check
- Criminal Record Screening:
- A criminal background check will be conducted.
- Criteria for Denial: Sexual related offenses, property damage, violent crimes and terrorism
Security Deposit and Lease Terms
- Security Deposit:
- The security deposit is equal to one month’s rent
- A larger deposit may be required if a credit score or financial history does not meet the criteria above for a standard deposit.
- Lease Term:
- The standard lease term is six months or less. No more than six months per contract or term is permissible.
Other Criteria
- Insurance Requirements:
- Applicants may be required to show proof of RV or renter’s insurance, depending on the park’s policy.
- Pet Policy:
- Review of pet policy adherence (if applicable). Additional screening may be required for pets, including breed restrictions, size, or vaccination records.
Review Process
- Application Processing Time:
- Typically, the screening process takes up to 3 business days.
- Decision Notification:
- Applicants will be notified via email/phone regarding the approval or denial of their application.
- Appeals:
- Applicants may appeal a decision if they believe there is a discrepancy or error in the screening process.
Consent for Screening
By submitting an application, you authorize the RV Park Management to conduct a credit check, background check, and verify my income and rental history.