Application Document CheckList And Procedure 

Application is reviewed on a First Come First Serve basis. If you submitted an incomplete application, it will not be reviewed. Please make sure to only submit an application when you have gathered all of your documents. Without these documents, your application will be considered incomplete and not reviewed. If you are working with a Licensed Real Estate Agent/broker, your agent should reach out to our exclusive listing team within 24 hours from the time your application is submitted via our online portal. We do not acknowledge real estate agent/broker involvement when the agent/broker’s name and contact information is not submitted at time of application.  As a licensed Agent/broker, he/she is responsible in review your application and making sure your have met all requirements. Please have your real estate Agent/broker review your application with you before submitting it,

FOR REFERENCE:

❏ Adjusted Gross Income in the past 2 year equal or exceed 40x Gross Monthly Rent; if not, you will need a co-signer (40x income required) or a guarantor (80x income required)  

❏ Credit / FICO Score: 700 or higher. If your credit history needs some explanation, you should be reaching out to related entities and parties, to get necessary documentation as it will be needed or your application will be denied due to the potential credit risk.

This checklist is compiled for your convenience in order to make your Application as swift and painless as possible. Organized and complete records will ensure we take care of you as accurately and quickly as possible. Thanks for your help in making your application as easy as possible for both of us 😀

Application Document Checklist:

W-2 Applicants:

❏ 1. Copy of PhotoID

❏ 2. Current Period Pay Stub

❏ 3. Prior Period Pay Stub

❏ 4. Current Month Bank Statement (Checking or Saving ONLY)

❏ 5. Prior Month Bank Statement (Checking or Saving ONLY)

❏ 6. 2020 Tax Return (Must be Signed)

❏ 7. 2021 Tax Return (Must be Signed)

❏ 8. Landlord Reference Letter and Permission for your current landlord to give information required by management (Must be Signed)

❏ 9. Proof of Employment: Must be Signed by Supervisor on company letterhead with the date of employment, stated income, Job title, hired date, and including bonus or commission payment if applicable.

Please submit the following additional documents if the situation applies to you:

Pet Owners:

❏ A photo of the pet is required.

Student Applicants:

❏ Proof of Enrollment

❏ A Copy of Unofficial Transcript

Foreigner Applicants:

❏ Copy of your passport

❏ US Bank Account with 1 year reserve

❏ US co-signer (40x income required) or a guarantor (80x income required)

Self-employed Applicants:

❏ 1.Copy of PhotoID

❏ 2.Current Month Bank Statement

❏ 3.Prior Month Bank Statement

❏ 4.2020 SIGNED Tax Return

❏ 5.2021 SIGNED Tax Return

❏ 6.A notarized letter from an accountant or lawyer stating yearly adjusted gross earnings. If you do not have an active income, please have your accountant / lawyer / financial advisor provide a detailed breakdown of your recurring passive sources of income that will meet the minimum income requirement.

*We do not accept corporate bank accounts and corporate guarantors even if you are the solely owner of the company.

Co-Signer / Guarantors:

❏ International, corporate, or third-party guarantors are not accepted.

❏ Co-Signer’s Income requirement is 40x the monthly rent

❏ Guarantor’s Income requirement is 80x the monthly rent

❏ Co-Signer / Guarantors needs to submit an completed and a separate application with all required documents referenced above using the same application link

⬇️ ⬇️ ⬇️ IMPORTANT NOTES, PLEASE READ ⬇️ ⬇️ ⬇️

Completed Application: An application will not be considered COMPLETE and will not be processed until all REQUIRED DOCUMENTS have been provided to us.

Non-approval: We will notify you if you've been approved within 5-7 business days after the date we receive a completed application. Your application will be considered "disapproved" if we fail to notify you of your approval within 7 business days after we have received a completed application. Notification may be by email, telephone or via text message. You must not assume approval until you receive actual notice of approval.

Approved: Be prepared to sign the lease agreement within 72 hours of receiving a Lease Agreement. If we don’t receive a signed lease in time, we will move on to the next applicants.

THE LANDLORD EXPRESSLY RESERVES THE RIGHT IN ITS SOLE AND ABSOLUTE DISCRETION TO EVALUATE THE APPLICATIONS AND TO REJECT ANY OR ALL APPLICATIONS WITHOUT ASSIGNING ANY REASONS THEREOF. THE LANDLORD SHALL HAVE NO LIABILITY WHATSOEVER TO ANY PROSPECTIVE PARTY AS A RESULT OF THE REJECTION OF ANY APPLICATION AND/OR THE ACCEPTANCE OF ANOTHER.

Thank you for your interest in SIBA Residences! Prior to submitting your application through our online portal, please gather all REQUIRED documents. Without these documents, your application will be considered incomplete and not reviewed. There is no need to call, email, or text our leasing office, team member, or staff about the status of your application. Everyone is reviewing under the same guidelines.