Apply

RENTAL APPLICATION PROCEDURES AND CRITERIA

NON-DISCRIMINATION

The Ludlow (“Management”) operates in accordance with the Federal Fair Housing Act, as well as all state and local fair housing and civil rights laws. We do not discriminate against any person based on race, color, religion, gender, national origin, age, sex, familial status, handicap, disability, veteran status, or any other basis protected by applicable state or local laws. The Rental Criteria below outlines some of the policies and procedures for this community with regard to standards that may be required by each applicant for a market rate apartment in order to be approved for residency.

APPLICATIONS FOR MARKET RATE APARTMENTS

All applicants must be of legal age and must demonstrate a total annual income of at least 40x the monthly rent.* All parties 18 years of age or older are required to complete an application and pay any and all applicable fees. Applications are to be completed in full.  Applications containing untrue, incorrect, or misleading information will be denied. Each applicant/guarantor must submit the following within three (3) days of applying:

1. Complete APPLICATION & AUTHORIZATION TO RELEASE RECORDS
2. Non-refundable APPLICATION FEE of $20.70 PER APPLICANT and PER GUARANTOR via credit card.
3. BANK STATEMENTS from your checking and savings or asset accounts. (Must be within the last 30 days)
4. PROOF OF EMPLOYMENT consisting of the following: (Must be within the last 30 days)

• • EMPLOYMENT LETTER signed on business stationary stating job title, salary, length of employment and eligibility for, and amount of, any bonuses. (offer letters not accepted)
  • Two most recent PAYSTUBS, (or 1099 form or W-2 form)

(NOTE ON PROOF OF EMPLOYMENT: If your employer uses an automated verification system (such as “The Work Number”) you must obtain the receipt form this service yourself and provide it to On-Site. Such services may impose an additional fee.)

*Solely for applicants who are not using alternative sources of income.

IF YOU ARE SELF-EMPLOYED, we require income verification for both yourself AND your company:

• Prior TWO year TAX RETURNS (must be signed by your CPA)
• LETTER FROM YOUR CPA verifying incomes.

IDENTITY VERIFICATION
This community utilizes an Identity Verification service. This service may contact you via text to verify your identity as part of the application process. In the event that we are not able to authenticate your identity, you could be asked to provide a combination of identifying documents that each display your name and address including but not limited to:

• Social Security Card
• Driver’s License
• Passport
• Invoice/Bill

RENTAL SCORE

All applications are submitted to On-Site.com, a third-party rental applicant screening company.  Generally, applications are evaluated based on a rental scoring system. Rental scoring is based on real data and statistical data such as payment history, quantity and type of accounts, outstanding debt, and age of accounts.

The rental scoring system will compare your application to On-Site’s database, and by evaluating those statistics and real data in accordance with the criteria set by Management, On-Site will make a recommendation as to the application, which recommendation is subject to Management’s review and approval. On-site’s general recommendations are as follows:

• Accepted. The applicant will be accepted with the standard deposits and fees.
• Accepted with Conditions. Depending on the community’s policy, the applicant may be given the opportunity to satisfy certain conditions, such as having a guarantor or co-signer on the application to be approved for residency.
• Denied. The applicant will be provided with contact information for the consumer reporting agencies that provided the consumer information and given the opportunity to correct any inaccuracies in the same, as set forth below.

GUARANTORS/CO-SIGNERS

In certain instances, a guarantor or co-signer may be considered to assist an applicant in qualifying for residency. In this instance, the original applicant’s application will be re-submitted along with the guarantor or co-signer’s application. Applications for guarantors and co-signers processed through On-Site are also scored, but are typically held to a more stringent, pre-established screening standard because guarantors and co-signers are technically responsible for the payments for this residence, as well as their own place of residence.  Guarantors must demonstrate a total annual income of 80.0 times the monthly rent and multiple guarantors cannot combine incomes in order to meet this requirement.

INCOME VERIFICATION

Written verification of income in an amount equal to 40.0 times the monthly rent per household may be required, along with any necessary supporting documents.

CRIMINAL BACKGROUND CHECKS

Relevant criminal history may be considered by the Ludlow, where permitted by and in compliance with law, including, but not limited to, the New York City Human Rights Law, set forth in Section 8 of the Administrative Code of the City of New York.

DENIAL POLICY

If your application is denied due to unfavorable information received on your screening report you may:

• Contact On-Site to discuss your application and identify any unfavorable information.
• Supply On-Site with proof of any incorrect or incomplete information.
• Request that On-Site re-evaluate and re-report your screening information and rental score to Management.

HOW YOU CAN IMPROVE YOUR RENTAL SCORE

Your rental score results from information found in your credit report, criminal history, references, and application data. Such information may include your history of paying bills and rent, the accounts you have, collections and delinquencies, income and debt.

Your rental score may change if the underlying information it is based upon changes. To improve your score, concentrate on paying your bills on time, paying down outstanding balances, and removing incorrect information. Your chances of approval may also improve if you apply for an apartment with lower monthly rent, or use a guarantor or co-signer, as set forth above.

HOW YOU CAN REMOVE INCORRECT INFORMATION

On-Site is committed to accuracy and will investigate any information you dispute. Contact their Renter Relations team at (877) 222-0384. If you provide proof of your claim, On-Site will promptly make appropriate adjustments. Download the form on On-Site’s website for details.

LEASE SIGNING

One of our leasing professionals will reach out to you to arrange for the lease signing once your application is approved.  In addition to the lease, you will need to sign a background check waiver and receive a Fair Chance Housing Notice.  Upon lease signing, one month’s security deposit and one month’s rent will be due.