Rental Critera

 

The following is posted for transparency (Last Updated: 4/1/2023)

Prospective Tenant Requirements…

Invicta Property Management complies with the Federal Fair Housing Act. Invicta does not discriminate on the basis of race, color, religion, national origin, familial status or disability, or any other basis protected by the applicable Federal, State, or local fair housing laws.

For all applicants, the submission of an application or approval of an application does not guarantee tenancy as the property will be considered on the market until all of the following requirements have been met:

  1. Application Approval

  2. All move-in fees have been submitted

  3. The lease signing has been completed

Applicants will be approved based on the following criteria:

  • Each Applicant must provide proof of identification as required below.

    Applicants who are US Citizens and/or permanent residents must provide a valid social security number (SSN) and one of the following:

    • A valid state-issued driver’s license

    • State-issued ID card

    • US Passport

    • Permanent resident card

    Applicants who are Foreign Citizens must provide:

    • A valid Individual Taxpayer Identification Number (ITIN) or a working SSN.

    • A valid and unexpired Passport together with a valid and unexpired VISA.

    The VISA must allow for the VISA holder to be eligible for education and/ or employment in the US and the VISA must not expire during the expected term of the lease.

    If the Applicant intends to park any vehicles on the Property and has not previously provided a valid driver’s license, the Applicant must provide an unexpired and valid state-issued driver’s license.

    All forms of identification must be current and unexpired. If any of the forms of identification, except for VISAs, are expected to expire during the term of the intended lease, the applicant will be required to update their current identification prior to the date of expiration.

    • For VISAs, the expiration date must be beyond the expected end of the lease term.

    If, and only if, the applicant screening software identifies the Applicant’s SSN or ITIN number as being a risk of forgery, misuse, identification theft, or otherwise identified by the screening software as being at high risk of inaccuracy, the applicant must provide a valid copy of the SSN or ITIN card together with an additional form of valid identification.

  • Applicant(s) must verify at least 1 year of continuous employment on their record or a verifiable source of income.

    Each applicant must verify their employment status with a copy of the two (2) most recent pay stubs from their employer.

    In cases where the applicant is a student:

    Graduate Students:

    • Acceptance letters from the university confirming your position and salary

    • A copy of the two (2) most recent pay stubs

    In the case of new employment, the applicant(s) must present a signed offer letter on company letterhead stating income.

    • Employment letters from third-party employment facilitators, intermediaries, brokers, or recruiters will not be accepted.

    If self-employed, applicants are required to provide the previous year’s tax return or W-2.

    If retired, applicants are required to provide proof of monthly income:

    • Copies of social security checks

    • A valid pension plan

    • Bank statements

    If the above criteria are not met, the application may be denied, or, the first month’s rent, last month’s rent, and a security deposit will be due upfront as well as a possible requirement for a co-signer.

  • Each applicant is jointly and severally (fully) responsible for the entire rent due.

    Income Rent Ratios must follow the following criteria:

    • A single applicant’s monthly income must be at least three (3) times the amount of the monthly rent.

    • For two applicants in a studio or one-bedroom, each individual’s income needs to be at least two (2) times greater than 75% of the monthly rent or one person needs to qualify for at least three (3) times the total monthly rent. If the latter is the case, the person that qualifies is the leaseholder and the other is an occupant.

    In cases where the applicant is a student:

    • Undergraduate students will automatically require a cosigner/ guarantor.

    • Graduate students must provide an acceptance letter from the university confirming their position and salary and one of the following:

    • A copy of the two (2) most recent pay stubs

    - OR -

    • The most recent bank statement

    General applicants can submit a copy of the two (2) most recent pay stubs or the most recent bank statement.

    Note: During the screening process, as a standard, we will always send an income verification link to the applicants’ email. This will provide us with a snapshot of your financial statement and this will stand in as your income verification if you do not have said documentation readily available.

    This link will not provide us with assess to your bank accounts.

    An applicant can include a Co-signer to a lease to overcome negative credit results. Co-signers can only be used with prior written authorization from the Lessor. The applicant cannot be conditionally approved. An applicant that uses a Co-signer has to qualify in all aspects of the rental criteria. However, if the applicant is a student using a Co-signer, the income-to-rent ratio criteria for the applicant is only one and one-half (1.5) times the rent instead of two (2) times the rent. Otherwise, when the applicant is not a student and using a Co-signer, the applicant must still have income that is two (2) times the rent. An acceptable Co-signer must meet the following conditions:

    • The Co-signer must successfully meet the standards of the applicant screening software and the standards of the verification of rental history, employment history, and proof of income.

    • The Co-signer must demonstrate proof of income being no less than four (4) times the monthly rent. Proof of income is established by providing the three (3) most current pay stubs.

    • The Co-signer must be an immediate family member, parent, or legal guardian of the Applicant.

    • In the case of a group lease agreement, where a tenant needs a co-signer, multiple co-signers may be required to meet co-signer rental criteria. All co-signers will be jointly and severally (fully) responsible for the entire rent due.

    • Both the Applicant and Co-signer must not have any negative criminal background screening results.

    • A credit report will be processed for each applicant.

    • Each application is evaluated with a scoring method that weighs the indicators of future rent payment performance.

    • Negative credit is defined as late payments, collection accounts, and judgments. However, special considerations will be given to medical expense delinquencies, foreclosures, and student loans.

    • A satisfactory credit rating for a prior of 5 years will be required and credit lines must show paid on time. A marginal credit risk, or acceptance with conditions, will result in paying the first month’s rent, last month’s rent, and security deposit upfront.

    • Bankruptcies not discharged and unpaid rental-related judgments will result in a denial.

    • Court records indicate an eviction will result in a denial.

    • Applicants must have at least 6 months of rental/ mortgage history.

    • Deficient or inconclusive rental verification or no rental history will result in paying the first month’s rent, last month’s rent, and security deposit upfront.

    • Unlawful detainers and/or outstanding debts to landlords will result in a denial.

  • Please state and provide documentation for all medical accommodations during the application stage.

    All medical accommodations will require:

    • A Certified letter from your doctor or medical professional on official letterhead sent to management.

    Any accommodations requested after lease signing must be corroborated with the required documentation above stating the emergent need. Depending on the nature of the accommodation, management may not be able to fulfill the accommodation. Please refer to the Massachusetts Office on Disability, Disability Rights, Access & Resources page linked below for more information.

    Mass Office on Disability - Disability Rights, Access & Resources

  • Every dwelling unit shall contain at least 150 square feet of floor space for its first occupant, and at least 100 square feet of floor space for each additional occupant, the floor space is to be calculated on the basis of the total habitable room area.

    In a dwelling unit, every room occupied for sleeping purposes by one occupant shall contain at least 70 square feet of floor space; every room occupied for sleeping purposes by more than one occupant shall contain at least 50 square feet of floor space for each occupant.

    In a rooming unit, every room occupied for sleeping purposes by one occupant shall contain at least 80 square feet of floor space; every room occupied for sleeping purposes by more than one occupant shall contain at least 60 square feet for each occupant. - 105 CMR 410.400(B)

    Occupancy is limited to no more than 2 residents per bedroom

    • 1 bathroom: no more than 2 people

    • 2 bathrooms: no more than 4 people

    • 3 bathrooms: no more than 6 people

    An occupant of any age is considered a resident and must be listed on the lease agreement.

  • A criminal background check will be conducted for each applicant and will be run for all addresses at which the applicant has resided.

    An applicant will be rejected for any of the following reported criminal-related reasons:

    • Any felony conviction

    • Any terrorist-related conviction

    • Any illegal drug-related conviction

    • Any prostitution conviction

    • Any sex-related conviction

    • Any cruelty to animal-related conviction

    • Any misdemeanor conviction involving crime against persons or property

    • Any of the above-related charges resulting in “Adjudication Withheld” and/or “Deferred Adjudication”

    • Active status on probation or parole resulting from any of the above

  • All pets regardless of ESA status must have a signed pet addendum

    Pets are limited to one cat or dog per unit and must be under 50 pounds when fully grown

    2nd-floor units and above are prohibited from having dogs or cats

    Exceptions must be requested in writing before lease signing and are dependent on written permission from the lessor.

    Please state and provide documentation stating the need for an Emotion Support Animal during the application stage. Any accommodations requested after lease signing must be corroborated with the required documentation stating the emergent need.

    Accommodations for Emotional Support Animals will require the following:

    • A Certified ESA letter from your doctor or medical professional on official letterhead sent to management.

    • A signed pet addendum from management

    • Each resident is strongly recommended to acquire a minimum of $100,000.00 in personal liability policy insurance. If the resident neglects to do so, the Lessor may not be held liable for any damages to the resident’s personal property.

  • All S8 applicants will be evaluated like all other tenants, with exceptions to their income and current employment.

    Since the application process for Section 8 voucher holders requires input from a public housing authority, please allow more time for your application to be processed.

    For the application to be processed in a timely manner, please have all relevant forms and documents ready and sent in along with the rental application.

    Once management has provided the required documentation for an application, it will be the applicant's responsibility to ensure that it is processed accordingly.

  • Please utilize the following links for more information about fair housing and tenants' rights.

    Fair Housing Overview

    Landlord & Tenant Rights