QUALIFICATION STANDARDS

Equal Housing
Lakeside Management, NFP is pledged to the letter and spirit of Title VII of the Civil Rights Act of 1968, the Fair Housing Amendments Act of 1988, the Illinois Human Rights Act of 1979 and other fair housing laws and ordinances that make it unlawful to discriminate in the rental of a dwelling or in the provision of services and facilities on the basis of race, color, religion, sex national origin, age, marital status, sexual orientation, disability, families with children, military service or other characteristic protected by law.
Touring the Community
All applicants must present a valid driver’s license or other government issued photo identification in order to tour the community.
Availability
Applications for apartment homes will be accepted on a first come, first served basis and subject to the availability of apartment type requested. Rental rates are subject to change without notice.
Rental Applications
An Application for Occupancy must be completed and maintained for each legal adult prospective resident who will be living in the apartment. Any false information will constitute grounds for rejection of application and the lease may be nullified.
Qualifying Standards
Residence: Up to 84 months of rental history may be verified on present and previous residence. A positive record of prompt monthly payment, sufficient notice, and no damages is expected. For applicants who are homeowners, permission may be requested to verify payment history with the bank or lending institution.
Renters Insurance: All residents must show proof of renters insurance and must maintain a renter’s insurance policy during the term of their residency. Minimum insurance limits consist of a $100,000 General Liability and $10,000 Personal Property Policy.
Credit Report: An unsatisfactory credit report can disqualify an applicant from renting an apartment home at this community. An unsatisfactory credit report is one which reflects past or current bad debts, late payments or unpaid bills, liens, judgments or bankruptcies. If an applicant is rejected for poor credit history, the applicant will be given the name, address and telephone number of the credit reporting agency that provided the credit report. Contents of credit reports will not be disclosed by apartment office personnel. An applicant rejected for unsatisfactory credit is encouraged to obtain a copy of the credit report from the credit reporting agency, correct any erroneous information that may be on the report, and resubmit an application to this community. If there are multiple applicants applying to lease an apartment only one of those applicants are required to meet the established credit qualifications.
Employment: Stable employment record and income verification may be required. For international students, please provide a copy of the I-20 statement. If there are multiple applicants applying to lease an apartment, only the income of those applicants that meet the credit qualifications will be considered in the overall income qualifications.
Criminal: A criminal background check will be conducted on each applicant. The application will be rejected for any of the following reported criminal related reasons: any felony conviction; any terrorist conviction; any illegal drug conviction; any prostitution related conviction; any sex related conviction; any cruelty to animal conviction; any misdemeanor conviction involving crime against a person or property; any of the above related charges resulting in “adjudication withheld: and/or “deferred adjudication”; and any active status on probation or parole resulting from any of the above.
Evaluation
The above information is evaluated with a rules based report method that weighs the indicators of future rent payment performance. The report outcome is based on analysis of prior renters’ indicators and subsequent payment performance. We may choose to accept or reject an applicant, or seek additional requirements for approving the lease. These requirements may include, but are not limited to, additional documentation of income or employment, additional rental references, satisfaction of delinquent debt, or an additional deposit(s).
Guarantors
In the event a guarantor is required; he/she must complete a Lease Guarantor form and meet all income and qualifying standards. A guarantor will be fully responsible for the Lease Agreement if the occupying resident(s) default.
Subletting
Subletting is prohibited without the prior written consent of management.
Application Fee
A non-refundable fee paid by applicant for verification of information.
Lease Fee
A non-refundable administrative fee is required. If the application is rejected by management, the lease fee will be refunded. If applicant cancels after approval by management, the lease fee will be retained by management.
Security Deposit
A refundable Security Deposit may be required at designated properties and is held as security for the resident’s fulfillment of the conditions of the Lease Agreement. The Security Deposit may be applied by management to satisfy all or part of the resident’s obligations, and such act shall not prevent management from claiming damages in excess of the Security Deposit. If the application is rejected by management, the Security Deposit will be refunded in full. If application is approved, and the applicant fails to occupy the premises on the agreed upon date, management will retain the Security Deposit. The only exception would occur if failure to occupy is caused by the prior resident of the apartment holding over. If delay in occupancy is related to construction, or other issues that result in the apartment being deemed uninhabitable, the applicant will not be held responsible for this delay and may be eligible for a complete refund of the Security Deposit.
Occupancy Standards
Studio – 1 person; One bedroom - 2 people; Two bedrooms – 4 people: Three bedrooms-4 people: Four bedroom-6 people. For the purpose of this section a person under two years of age shall not be counted as an occupant.
Roommates
Each is fully responsible for the entire rental payment, and each must execute the Lease Agreement and its supporting documents. If there are multiple applicants applying to lease an apartment only one of those applicants are required to meet the income qualifications. In the evaluation of the application the total income earned from all roommates that have met the credit qualifications will be considered.
Lease Terms
Length of lease offered may vary based on availability. A Lease expiration date may not extend past the expiration date of a government issued Visa.
Vehicles
Boats, motorcycles, trailers, RVs, autos with enclosures added to the vehicle, and vehicles with logos are prohibited in the common areas of this community unless otherwise designated by management.
Pets
Pets are accepted on designated communities with management’s approval. An Animal Addendum must be signed and followed. Established pet fees must be paid in full. The pet policy is subject to limitations per the community’s quota.
Rental Payment
The monthly rent is due on or before the first day of each month without demand and is considered late if paid after the first. There will be a late charge assessed for all rent paid after the designated grace period. All returned checks will be assessed a service fee in addition to applicable late charges and must be replaced with a cashier’s check or money order.