Underwriting

Requirements

Include:

• Some restrictions may not apply to all properties. Please call 630-983-1000 to confirm. These are underwriting guidelines; additional information or verification may be required.
• It can take several business days to approve or deny an application, depending on the response times for additional information, income verification and previous landlord verification.
• Claritas Property Management is 100% committed to following all Fair Housing laws in effect-Federal, State and Local.
• The guidelines listed here are subject to change, without notice, and may not be updated in real time.
• For the safety of our staff and residents, only approved applicants will be scheduled for individual showings. The only exception is for single family homes, the property manager will accept emailed proof of 3x the rent in gross income and a 680+ credit score to pre-qualify before scheduling a showing.
• Realtors can schedule showings for  their clients who do not have approved applications. Not all properties offer compensation to cooperating agents.
• Gross income must be at least 3 times the monthly rent amount. No Co-Signers.
• All legal sources of income are accepted, as dictated by law.
• Income can be combined between qualified adult applicants
• Income and length of employment will be verified. Appropriate documentation showing 4 weeks required. We also look at YTD income on paystubs.
• Self-employed must provide most recent tax returns and 2 months bank statements.
• All occupants 18 or older must complete the application
• 680 Minimum Credit score for financially responsible lease signers on all properties except Knox and Kilpatrick in Oak Forest has a 650 minimum credit score.
• Debt to income ratio, accounts in collection and past due balances can be considered.
• Previous landlord/rental payment history will be verified.
• After financial qualifications are met, criminal convictions may be considered in denying applicants, as dictated by law.
• Your approved application can be transferred to any of our available homes for which you are qualified. No need to re-apply for a different unit.