RENTAL CRITERIA

APPLICATION
Agreement

An application must be completed for each individual who will be living in the apartment and who has reached the age of majority under state laws, which in most states is 18 years or older. An application fee of $55 and an administrative fee of $200 will be collected before an application is processed. If you fail to answer any question or give false information, the Community may reject your application and retain all fees as liquidated damages for its time and expense.

Process

1. Complete the application. Read the application carefully as this is a legal document. Falsifying or leaving out information can result in retention of the fees paid and denial of the Application.
2. Turn in the application, and proof of income, and pay the application fee and administrative fee, if applicable.
3. Applicant will be notified of Approval, Approval with Conditions or Denial within 72 hours. If Approved with Conditions, and Applicant is unable to meet the conditions required, the Community must be notified within 24 hours.
4. Applicant will have three days to complete and execute the Lease Contract upon approval unless a longer period of time is allowed in the application.
5. Prorated rents will need to be paid before move-in. Prorated rents plus the following calendar month's rent will need to be paid before move-in, if the move-in day is after the 25th of the month.

Risk Fee
All approved Applicants are subject to a Risk Fee. The standard Risk Fee for every approved Applicant is $300. Applicants who receive a conditional approval based on screening and/or background results may be assessed a $500 Risk Fee. Applicants with qualifying rental-history conditions may be assessed a higher Risk Fee as stated below.

• Standard approved Applicant: $300 Risk Fee.
• Conditional approval based on screening and/or background results: $500 Risk Fee.
• One eviction 2-4 years old: $700 Risk Fee, provided the Applicant has no more than one eviction and landlord/rental debt is less than $2,000.
• One eviction 4 years or older: $500 Risk Fee, provided the Applicant has no more than one eviction and landlord/rental debt is less than $2,000.
• Eviction less than 2 years old: Denied.
• More than one eviction: Denied.
• Landlord/rental debt of $2,000 or more: Denied.

All Risk Fees are required to be paid in two installments: 50% at approval and the remaining 50% at move-in.

Security Deposit
Ninety9 Capital MFFI Flats will require a security deposit based on the final decision. Once all parties have signed a Lease Contract, it is a valid, binding legal contract. Unless we consent in writing, if you fail to occupy the rental premises by the date specified in the Lease Contract, you will be liable to us for damages pursuant to the Lease Contract.

ELIGIBILITY
Final approval of all applications for tenancy will be contingent on full consideration of the results of Income and Rental History verification, Credit and Criminal background screening, and full and prompt payment of all required fees.

Income History
Applicants must have a gross income source that can be verified and that meets the minimum income requirements for the apartment being leased of (2.5) times the amount of rent and have at least eight weeks of verifiable income. Applicants will be required to provide income verification, including eight weeks of pay stubs, proof of retirement income, social security, disability or other government income, the most recent tax return, three consecutive bank/financial statements demonstrating sufficient verifiable income to meet the (2.5) times monthly rent requirement, or a current offer letter for employment. In instances where sufficient income requirements cannot be met, the Community may elect to accept a qualified Guarantor. Applicants that receive voucher assistance or other subsidies will be qualified based on their voucher amount and their portion of rent. The amount of the voucher will be verified with the granting agency. If the Applicant is responsible for a portion of the rent, they will be required to provide income verification of at least three (3) times their portion of rent.

Guarantors
Guarantors may be used for Applicants with insufficient credit or income. In the event that a Guarantor is required he/she must complete an application, pay an application fee, and meet all Resident Selection Criteria, including income at least five (5) times the rental amount. Guarantors may also qualify with verifiable proof of financial worth at least (10) times the monthly rent amount. Guarantors will not be required to sign the lease and have no right to possession of the apartment, but will be required to sign the Lease Contract Guaranty. Guarantors will not have access to the apartment. A Guarantor will be fully responsible for the rent obligations of the Lease Contract if the occupying Resident(s) defaults on the Lease Contract.

Credit History
All Applicants are subject to approval through the Community's third-party Applicant screening agency, Resident IQ. Screening criteria will be applied uniformly and, in a manner consistent with all applicable laws, including state and federal housing laws, federal fair credit reporting laws, program guidelines and administrative rules. Approvals of all Applicants are based on an empirical system that incorporates multiple credit factors along with other non-statistical factors, including the Applicant's income and credit score, to determine overall Applicant qualification. Applicants with less than two (2) years of established credit or a credit score less than 550 will be conditionally approved and may be subject to the $250 conditional-approval Risk Fee based on screening results. Applicants with utility debt less than $500 will be Conditionally Approved. Applicants with utility debt of $500 or more will be Denied.

Criminal History
Applicants will not be accepted if they have a Criminal History. “Criminal History” is defined as follows: (i) Criminal conviction or adjudication for felony violent crimes such as murder or injury to a child, felony and misdemeanor sex crimes, such as indecency with a child, sexual assault, compelling prostitution and crimes requiring registration as a sex offender, felony property crimes such as burglary and arson, or felony drug crimes such as the illegal manufacturer or distribution of a controlled substance under the Federal Controlled Substances Act; (ii) Criminal convictions or adjudications for other felonies (that are not listed above), if the incarceration, probation, or adjudication was completed within 10 years of application. (iii) Criminal convictions or adjudications for misdemeanors involving theft of property (excluding misdemeanors for theft by check) or misdemeanor violent crimes, if the incarceration, probation, or adjudication was completed within 5 years from the date of application. The Community operates in accordance with the Violence against Women Act (VAWA) and the Justice Department Reauthorization Act of 2005. Applicants cannot be rejected based on the Applicant being a victim of domestic violence, dating violence, sexual assault or stalking. The Community does not guarantee or represent those residents or occupants currently residing at the Community qualify under the criteria stated herein. There may be residents and occupants that have resided in our Community prior to the current criteria being in place. Our ability to confirm the background of residents and occupants is limited to the various credit reporting services used. Our decisions are based on the information provided by the screening agency at the time of application. We are not responsible for inaccurate information obtained.

Rental History
Information regarding payment and rental history for each Applicant will be collected via our screening service. Every Applicant who is approved is subject to a Risk Fee. The standard Risk Fee is $300. Applicants who receive a conditional approval based on screening and/or background results may be assessed a $500 Risk Fee. A higher Risk Fee applies when the Applicant qualifies under the applicable conditions below.

• Standard approved Applicant: $300 Risk Fee.
• Conditional approval based on screening and/or background results: $500 Risk Fee.
• One eviction 2-4 years old: Applicant may be approved with a $700 Risk Fee if landlord/rental debt is less than $2,000 and the Applicant has no more than one eviction.
• One eviction 4 years or older: Applicant may be approved with a $500 Risk Fee if landlord/rental debt is less than $2,000 and the Applicant has no more than one eviction.
• Eviction less than 2 years old: Applicant will be Denied.
• More than one eviction: Applicant will be Denied.
• Landlord/rental debt of $2,000 or more: Applicant will be Denied.

For every approved Applicant, the applicable Risk Fee is required to be paid 50% at approval and 50% at move-in.

OVERALL STANDARDS

Fair Housing

The Community does not discriminate on the basis of race, color, sex, religion, familial status, national origin, disability, or any other class protected by applicable law. We will make reasonable accommodations and rules, policies, practices, or services when such accommodations may be necessary to afford a person with a disability the equal opportunity to use and enjoy a dwelling. We will permit, at the expense of the person with the disability, reasonable modifications of existing premises occupied or to be occupied by such person if such modifications may be necessary to afford such person full enjoyment of the premises.

Occupancy Standards
No more than two persons per bedroom, plus one additional person may occupy the apartment, unless otherwise mandated by state or local government entity. Efficiency and studio apartments are considered one (1) bedrooms, for occupancy purposes.

Identification
All visitors must present a valid driver's license, valid passport or other U.S. or Government issued photo identification in order to view the Community and sign an application or Lease Contract.

Pet Policy
Maximum of two (2) pets per apartment, with a maximum weight of 50 pounds per pet at full-grown/mature weight. A non-refundable $400 pet fee and $20 monthly pet rent are required for each pet. The pet fee may be paid in two installments: 50% at move-in and 50% with the second month’s rent.

Restricted breeds include, but are not limited to: Pit Bull/Staffordshire breeds, Rottweiler, Doberman Pinscher, German Shepherd, Akita, Chow Chow, Presa Canario, Mastiff breeds, Alaskan Malamute, Siberian Husky, Great Dane, American Bulldog, Saint Bernard, wolf hybrids, and mixes containing restricted breeds. Aggressive animals are not permitted, and a pet interview may be required. One bird cage or fish tank up to 20 gallons is permitted. Pet limits, weight/breed restrictions, pet fees, and pet rent do not apply to assistance animals as required by applicable law.

Renters Insurance Requirement

Our community requires all lease holders to carry a minimum of $100,000 Personal Liability Insurance coverage. To satisfy this requirement, you must provide evidence of insurance coverage at initial lease signing and maintain this coverage throughout the entire term of your residency. If you purchase renters insurance from a 3rd party, we require that you add our compliance partner, Ninety9 Capital MFFI Flats as an “Interested Party,” “Party of Interest,” or similar language. Proof of 3rd party coverage should be uploaded to your resident portal. Failure to provide or maintain coverage throughout the entire term of your residency will result in an Eviction.

I ACKNOWLEDGE THAT I HAD AN OPPORTUNITY TO REVIEW THE PROPERTY'S RENTAL SELECTION CRITERIA AND ATTACHED PRIVACY POLICY FOR PERSONAL INFORMATION. THE PROPERTY'S RENTAL SELECTION CRITERIA INCLUDES REASONS WHY MY APPLICATION MAY BE DENIED, SUCH AS CRIMINAL HISTORY, CREDIT HISTORY, CURRENT INCOME, AND RENTAL HISTORY. I UNDERSTAND THAT IF I DO NOT MEET THE PROPERTY'S RENTAL SELECTION CRITERIA OR IF I FAIL TO ANSWER ANY QUESTION OR GIVE FALSE INFORMATION, THE PROPERTY MAY REJECT THE APPLICATION, RETAIN ALL APPLICATION FEES AND ADMINISTRATIVE FEES AS LIQUIDATED DAMAGES FOR ITS TIME AND EXPENSE, AND TERMINATE MY RIGHT OF OCCUPANCY.