Per City of Long Branch requirements, we are required to notify you that if any tenant is under the of twenty-one years of age, he or she is subjected to a suspension or revocation of his or her driver’s license for up to six months and a fine of $250.00 for the first offense and $350.00 for each subsequent offense, for each such conviction in municipal court, for unlawful consumption or possession of alcoholic beverages.
It is understood and agreed by the undersigned that acceptance of this apartment application is subject to approval by Sea Verge Apartments of the results of credit, tenancy, income, and reference checks. It is also understood and agreed that the application fee is used to pay for the credit, tenancy and income check and will not be refunded.
A complete application and the application fee must be received by Sea Verge Apartments in order for the apartment to be removed from the market. If the application is approved and there are no previous applications pending for the same apartment, the apartment will be held off the market for three calendar days from the date it is approved, during which time applicant will remit to Sea Verge Apartments a money order or bank teller’s check for the apartment security deposit in the amount of one and one-half month's rent. If the complete deposit is not received by then, there will be no further obligations by either the applicant or Sea Verge Apartments and the apartment will be put back on the market.
Upon receipt of the deposit, a lease will be prepared for the applicant. The apartment will continue to be held off the market until the lease has been signed by all applicants and has been received by Sea Verge Apartments, or for six calendar days from the date of the lease, whichever occurs first. If the signed lease is not received by Sea Verge Apartments by the sixth calendar day after the date of the lease, the apartment will be put back on the market, and there will be no further obligations by either the applicant or Sea Verge Apartments.
To: Sea Verge Apartments.
I, the undersigned applicant, authorize Sea Verge Apartments to do credit, tenancy and income checks on me through any credit reporting company. I further authorize any credit reporting company to release to you or have released any information found in reference to me. I am aware that any such background checks may show a reason not to rent me an apartment. I am also aware that any inaccurate or false information on this application may be reason for an automatic denial to rent an apartment.
I authorize Sea Verge Apartments. and any credit, tenancy or income reporting company to retain any information received as a result of this search and any further information provided to any credit reporting companies by Sea Verge Apartments as a result of my proposed tenancy (such as late payment of rent, non- payment of rent, damage to Landlord's property, and/or interference with the quiet enjoyment of other tenants of the building), and to release such information to any other requesting agencies pursuant to a subsequent request.
I agree to hold harmless Sea Verge Apartments and the credit, tenancy, or income reporting company for any incorrect or misleading information that may be supplied to Sea Verge Apartments and the credit, tenancy, and income reporting company as a result of these credit, tenancy, and/or income check(s). I am aware that I have a right to request a copy of the reports issued by the credit reporting companies and to submit additional information to the credit reporting companies in order to correct or clarify these records.
The Applicant Selection Standards for Sea Verge Apartments is attached to this form. By signing this application applicant consents to the use of the criteria described in this document and further consents to abide by the resulting outcome.
Sea Verge Apartments does not consider criminal history as part of the selection process.
A separate application will be required for each apartment occupant 18 years of age or older.
Sea Verge Apartments Applicant Selection StandardsAll applicants are required to present one of each of the following (expired documents and/or plastic or metal or laminated documents will not be accepted):
- One of the following valid and verifiable government issued photo ID’s: Photo Driver’s License; Passport; Alien Registration Receipt Card; Resident Alien Card; Permanent Resident Card; Employment Authorization Card; Temporary Resident Card; Employment Authorization Document; Re-entry Permit; Refugee Travel Document; Non-Immigrant Visa; Border Crossing Card; (The expiration date of any document allowing temporary residency in the United States must be after the apartment lease expiration date)
And
- One valid and verifiable: current pay stub; last year’s W-2 Form; last year’s Tax 1099 Form; Notarized Current Employment Letter signed by applicant’s supervisor; or last year’s Income Tax
To obtain a Social Security Number or a Medicare card contact the Social Security Administration: online at www.ssa.gov ; or by phone at 1-800-772-1213; or go to the nearest Social Security Administration office located at 3310 State Route 66., Neptune, New Jersey 07753.
To obtain an ITIN Number contact the United States Internal Revenue Service: online at www.irs.ustreas.gov ; or by phone at 1-800-829-1040; or go to the nearest Unite States Internal Revenue Service office located at 4 Paragon Way, Freehold, New Jersey 07728.
A = Approve
Valid and verifiable Rent-to-Gross Income ratio of 38% or lower or bank or brokerage statements for each of the last three consecutive months showing ending net worth at least three times the monthly rent of the apartment desired by the applicant;
and Vantage Risk Score equal to or higher than 601; or, No credit history reported by the credit bureau(s); or,
B = Reject Applicant if any instance of: Vantage Risk Score less than 601; or Eviction during the last four years; or,
Rent-to-Gross Income ratio of 39% or higher (except for Section 8); or, Negative housing and/or employment verifications; or,
Credit problems such as collections, chargeoffs, judgments, and open bankruptcies that occurred over 36 months ago will be disregarded. Closed bankruptcies that occurred over 36 months ago will be disregarded. Late credit payments that occurred over 24 months ago will be disregarded.
One foreclosure within the last 3 years will be allowed, provided that valid and verifiable documentation shows that the amount of the total monthly mortgage payment was more than the monthly rent for the apartment selected by the applicant.
Student loans in default will be disregarded, provided that valid and verifiable documentation shows that the loan in default was a student loan.
Co-signers and Roommates:
If the applicant’s credit does not qualify, and the applicant does not have an eviction within the last five years, the applicant may reapply with a co-signer. The co-signer’s income documents (pay stub, W-2, etc.) must show that the co-signer is a current New Jersey resident. The co-signer must comply with the standards indicated in this application in their entirety. Said co-signer’s name will be on the Lease with the name of the original applicant. The co-signer must submit a complete application within three days of the original applicant’s credit report. Otherwise the apartment will be put back on the market on a first come, first served basis.
Each resident and co-signer is jointly and severally (fully) responsible for the entire rental payment as well as all other terms and conditions of the lease. Management will not refund any part of a security deposit until the apartment has been vacated by all occupants and inspection by management shows no damages to the premises and that the account of all persons named in the lease is not in arrears.
Maximum Number of Occupants: The maximum number of occupants allowed for Studio or One Bedroom apartments is TWO. The maximum for Two Bedrooms is FOUR. (Infants below the age of one year will not be considered occupants.)
Pets: Pets are allowed per terms of the Pet Addendum to Lease.
Occupancy Date: Occupancy is required not later than 14 days from the date that an A or B (described above) application credit report is received.
Security Deposit: Must be received in full by rental office within three calendar days of the issuance of an “A” (described above) credit report.
Payments: Security Deposit and first rent payment must be paid by money order or bank teller’s check. Cash will not be accepted. A separate money order or bank teller’s check for the first rent payment is required. Rent after the first rent payment may be paid by personal check in accordance with the terms of the Lease.
Credit reports generated by or provided by applicants will not be accepted.
Upon our receipt of your completed and signed application: a) a credit check will be processed through at least one of the following credit reporting agencies: Experian; Trans Union; and/or Equifax; b) an eviction check will be processed; and, c) employment/income and previous residence data will be checked.
If your application is approved, we will need to copy the following documents before issuing the keys to you: government issued photo ID listed above; and, income document listed above.
Individual applicants can receive a written copy of their credit report by calling Yardi Resident Screening at 800- 736-8476.
A lease can be in the name of a business that was created at least two years ago if Sea Verge Apartments receives:
- a background check that is in compliance with the credit, income, and eviction criteria in the Sea Verge Apartments Selection Standards for one person who resides in New Jersey who is at least 18 years old, and who will guarantee the lease;
and
- a separate background check for each occupant who is at least 18 years old that is in compliance with the eviction criteria in the Sea Verge Apartments Selection Standards;
and
- a business credit report that is in compliance with the Sea Verge Apartments Intellicscore Plus
Please note that all three of the above conditions must be satisfied in order to put the lease in the name of a business.
Sea Verge Apartments Intelliscrore Plus Standards for businesses:
75 or higher = Accept
74 or lower = Reject
In order to apply for a credit report for a business the applicant will need to complete the Yardi Intelliscore Plus Request form.
The additional application fee to run a credit report for a business is $35.00
