Minimum Requirements

1. All Lease Signatories Must Personally Visit the Property & Approve Its Condition

Anyone who will be allowed to or required to sign the lease must personally visit the property and approve its condition before the Broker will prepare and present a Lease for signature. This policy applies to both spouses of a married couple and/or both members of an unmarried couple. Viewing by a third party, including a Real Estate Agent, friend, family member or viewing by video conference, will not be accepted by the Broker in lieu of personal visit by all Signatories.

2. Minimum Criteria For Lease Application Approval

The minimum requirements for Lease Application Approval are property specific and can be found in the online advertising for each property.

A minimum net income to rent ratio is not addressed in the online advertising. When a minimum net income ratio can be calculated by Snappt with “High Confidence”, it must be at least 2.78 to 1.

For debt to income ratios that are slightly over the requirement the rounding rule shall be any percentage equal to or less than 0.4% over shall be rounded down and considered qualifying.

The Broker will not accept a copy of the Applicant’s Credit Report emailed by the Applicant.

3. Paying Off Delinquencies Prior to Applying

The Applicant is encouraged to review their consumer credit report prior to submitting an application to confirm that they meet the applicable delinquency limit requirements.

Delinquency limits vary by property classification as follows: Schedule A properties have a delinquency limit of $0; Schedule B properties have a delinquency limit of $2,500; and Schedule C properties have a delinquency limit of $5,000. These classifications are applied consistently based on the property’s rental criteria.

Any outstanding delinquencies must be resolved in full prior to application submission in order to be considered in compliance with the applicable delinquency limit. Verification of payment must be completed exclusively through the Broker’s designated third-party screening provider, Snappt, using direct bank account linking to obtain current transaction data.

Payment of a delinquency will only be considered if the transaction is clearly and directly attributable to the corresponding creditor or lender within the linked bank data. Transfers, cash withdrawals, or payments that cannot be reliably matched to a specific creditor will not be considered as satisfying a delinquency.

If the Applicant is unable to provide bank account data through Snappt due to limitations of their financial institution or lack of compatible online banking access, the delinquency will be considered outstanding for screening purposes and will not be eligible for pre-application resolution through alternative documentation.

All applications are evaluated based solely on the information available at the time the application is submitted and screened through the Broker’s approved verification systems. The Broker does not accept supplemental documentation, updated information, or subsequent changes to an Applicant’s financial condition after the application has been submitted for the purpose of altering or influencing the screening outcome.

This policy is applied uniformly to all Applicants to ensure consistent and equitable evaluation standards in accordance with the Fair Housing Act.

4. Cosigner / Lease Guarantee Requirements for Application Approval

This policy applies only if the property advertising for the specific property indicates that Cosigners are allowed. Property Owners may elect, at their discretion, whether to permit Cosigners for their property, and this election is reflected in the published advertising criteria for each individual listing. If the advertising for a property does not state that Cosigners are allowed, neither Option A nor Option B below is available, and Applicants must independently meet all standard qualification requirements.

When an Applicant does not independently meet Dean & Associates Inc’s standard income, credit, or rental history qualifications, the Applicant may qualify for lease approval by satisfying one of the two options set forth below, provided that the property advertising permits Cosigners. This requirement is applied uniformly to all Applicants who do not independently meet standard qualifications, without regard to race, color, religion, sex, national origin, familial status, disability, or any other class protected under federal, state, or local law. Selection between Option A and Option B is at the Applicant’s sole discretion.

Option A: Personal Cosigner

A proposed Cosigner must meet all of the following minimum requirements:

1. At least a 740 credit score.
2. At least a 5-to-1 recurring gross income-to-rent ratio, or verified cash and/or liquid assets equal to at least 10 times the annual rent. A liquid asset is defined as an asset that can be converted to cash within several days without penalty. A Cosigner cannot qualify with income that cannot be pursued legally if the primary Tenant defaults. All liquid assets must be subject to verification through Snappt.
3. No more than a 36% debt-to-gross-income ratio.
4. $0 delinquencies.
5. The Cosigner must be personal and not corporate.
6. The Cosigner must be subject to valid service of process and collection enforcement in Alabama, as determined by Management.

The Cosigner is subject to the same application, screening, and documentation requirements as the primary Applicant, including identity verification, credit reporting, and background screening, and is responsible for any associated application fees. The Cosigner must execute a Guaranty Attachment to the lease and shall be jointly and severally liable with the Tenant for all obligations under the lease, including rent, late fees, damages, legal costs, and any other amounts owed.

Option B: Approved Institutional Lease Guarantee

In lieu of a personal Cosigner, the Applicant may secure an approved institutional lease guarantee. To qualify under this Option, the guarantee must meet all of the following requirements:

1. The guarantee must be issued by TheGuarantors, or another institutional lease guarantee provider approved in writing by Management.
2. Rent coverage must extend for the full twelve (12) month lease term.
3. Deposit coverage must be included in an amount not less than the security deposit otherwise required for the lease.
4. The guarantee must be fully paid by the Applicant, and the policy issued and in force, prior to lease execution.
5. The Applicant must provide Management with documentation acceptable to Management evidencing approval, coverage amounts, effective dates, and term.
6. Approval of the underlying lease application remains subject to all other qualification standards.

Management reserves the right, in its reasonable discretion, to decline a particular guarantee provider, require additional documentation, or require coverage in excess of the minimums above based on the specific lease terms, rent amount, or risk profile.

General Provisions

a. An Applicant may qualify under Option A or Option B, but not by combining elements of both.

b. The Cosigner / Lease Guarantee requirement does not waive, modify, or reduce any other lease qualification standard, screening criterion, or lease term applicable to the Applicant or the Tenant.

c. Neither Dean & Associates Inc nor any of its agents directs, recommends, or steers Applicants toward Option A or Option B. Applicants are encouraged to evaluate both options independently and select the option that best suits their circumstances.

d. These requirements are applied uniformly to all Applicants who do not independently meet standard qualifications. Documentation of Cosigner status or Lease Guarantee status will be retained in the Applicant’s file in accordance with Management’s record retention policy and applicable law.

e. All lease application approval decisions are made solely by the Broker of Dean & Associates Inc, in accordance with this policy and all applicable federal, state, and local laws, including the Fair Housing Act. This centralized approval authority is maintained to ensure consistent, transparent, and non-discriminatory application of qualification standards across all properties managed by Dean & Associates Inc.

5. Application Processing and Third-Party Approval Policy

Broker requires all prospective Applicants to complete and submit Broker’s rental application before any third-party application, approval, guarantee, or screening result will be accepted, reviewed, or considered.

Broker will not accept, rely on, or process an approved application or approval notice from any third party, including but not limited to guarantor services such as TheGuarantors, prior to Broker’s review and processing of Broker’s own application. Any third-party approval submitted before Broker has processed the Applicant’s application will not replace, supersede, or satisfy Broker’s application requirements.

All Applicants must first complete Broker’s standard application process, including any required identity verification, income verification, credit screening, background screening, rental history review, and submission of required documentation. After Broker has processed the application, Broker may, where applicable, consider third-party guarantor approval or other supplemental approval documentation in accordance with Broker’s policies and applicable law.

Broker reserves the right to require additional information, decline incomplete applications, and make final approval decisions based on Broker’s established rental criteria. This policy will be applied consistently to all Applicants.

6. Unemployed Individuals may qualify to Prepay Rent with conditions

• Documentation of at least 10x the annual rent in liquid assets. Liquid assets are cash or financial resources that can be quickly converted into cash, typically within a few days, without losing significant value. Documentation of Crypto Currency is not acceptable.
• 740 minimum credit score.
• $0 in delinquent accounts.

7. Credit Score Evaluation Policy

The Broker’s standard procedure is to obtain and review a full TransUnion FICO 8 consumer credit report.

In situations where the TransUnion FICO 8 credit score is less than the expected score because the Applicant has credit monitoring or has recently applied for credit and been told their score is higher, upon request the Broker will pull the Equifax and/or Experian FICO 8 reports provided that the Applicant consent, provide their Social Security Number and pay the appropriate fees. The Broker would accept a qualifying FICO 8 credit score from any of the three Bureaus.

In all cases, the Broker evaluates credit as part of a broader risk assessment, placing primary emphasis on objective financial indicators, including but not limited to:

• Debt-to-Income ratio
• Income-to-Rent ratio
• Presence, severity, and recency of delinquent accounts
• Payment history and overall credit behavior
• Outstanding obligations and overall financial capacity

Applicants must meet the Broker’s minimum credit standards. If the FICO® Score 8 credit scores obtained do not meet the minimum qualifying requirement, the application will be declined.

A credit score obtained through third-party services, including but not limited to Rently, is not used for lease application approval and does not indicate that an Applicant will qualify.

All screening criteria are applied consistently and uniformly to every Applicant in accordance with applicable laws, including the Fair Housing Act.

8. No-Score Exception Policy

The Broker evaluates creditworthiness using consumer credit reports and associated credit scores obtained from one or more national credit reporting agencies. Applicants are generally required to meet a minimum qualifying credit score as part of the standard screening criteria.

However, the Broker recognizes that certain Applicants may not have a current credit score due to the complete payoff of prior debt obligations.

An Applicant may be considered under the No-Score / Debt-Free Profile standard if all of the following conditions are met:

1. No Active Debt Obligations
   The credit report reflects no open tradelines or revolving/installation debt, and the Applicant’s Debt-to-Income ratio is effectively 0%.
2. Verifiable Prior Credit History
   The credit report demonstrates a prior history of credit usage with accounts that have been paid in full and closed in good standing.
3. Satisfactory Payment History
   There are no delinquent accounts, charge-offs, collections, judgments, or similar adverse credit events within the most recent 36 months.
4. No Evidence of Thin or Insufficient Credit File
   The credit profile must reflect a meaningful history of prior credit activity. Applicants with limited, newly established, or insufficient credit history (“thin files”) will not qualify under this exception.
5. Income and Financial Capacity Requirements Met
   The Applicant must meet or exceed all income-to-rent ratio and other financial qualification requirements established by the Broker.

Applicants who meet all of the above criteria may be approved without a qualifying credit score. If these conditions are not fully satisfied, and no qualifying credit score is present, the application will be declined.

All criteria are applied consistently and uniformly to every Applicant in accordance with the Fair Housing Act.

These standards are effective for properties listed after April 26, 2026 and may not perfectly agree with the current online advertising for properties listed prior to April 26, 2026.

9. Student Loan Debt to Income Calculation

When an Applicant has deferred student loans or loans in forbearance and the monthly payment amount is not disclosed on the credit report then the Broker will use the Fannie Mae guideline of 0.5% of the outstanding student loan balance as the monthly payment to use for the calculation of the Applicant’s Debt to Income Ratio.

10. The Broker Acknowledges No Duty or Obligation to Accept Documents from the Applicant or Third Parties Commenting on Information Currently Showing in the Applicant’s Credit and Background Report

The Applicant’s credit report, background report, or credit history (“Credit Report”) may show debts and or other negative information upon which the Broker bases a decision to deny Applicant’s Application. Applicant is responsible for ensuring that Applicant’s Credit Report accurately reflects the information relative to Applicant at the time the Application is submitted. Broker cannot and will not receive or consider information contrary to or challenging debts and or other negative entries on Applicant’s Credit Report, either prior to or after Broker makes a decision on Applicant’s Application and submits an Adverse Action Notice. Applicant understands that Broker will refer only to the Credit Report in reviewing Applicant’s Application and will not receive or consider documentation outside of the Credit Report.

Mortgages will be included in the Debt to Income Calculation prior to closing and the updating of the Applicant’s Credit Report. The Broker acknowledges no duty to the Applicant to assume the sale of a property, a closing will or has taken place and or that a Credit Report Updating will take place.

In the event Applicant disagrees with information reflected on Applicant’s Credit Report, Applicant may refer to applicable federal law regarding Applicant’s ability to challenge or correct Applicant’s Credit Report by challenging specific debts and or other negative information with the Credit Reporting Agencies or prior creditors. Broker is not an attorney, is not offering legal advice, and suggests that Applicant consult with an attorney regarding Applicant’s rights to challenge negative information on the Credit Report. More information may be found here.

11. Rental Arbitrage, Sub-leasing, Assignment, etc. is Strictly Prohibited

Tenant shall not sublet, under-lease, sub-rent, sub-lease, offer rooms for rent, or otherwise take on occupants not identified in this Lease. Tenant shall not offer any portion of the premises for a sublease by placing on the same any “to rent”, “furnished room”, “room to rent”, or similar sign or notice or by advertising the same in any newspaper, on any short-term rental website such as VRBO or AirBnB, or any place or manner whatsoever. Any arrangement listed above or any other transfer or assignment of this lease, shall be null and void at the option of the Landlord. Tenant agrees that the breach of this provision shall be considered a material noncompliance with the terms of this lease, entitling Landlord to deliver written notice to terminate this lease pursuant to Alabama law.

12. Lease Start Dates

Lease start dates are always the 1st day of the next calendar month. The exception to this rule is that on or about the 23rd of each month (when there is not enough time remaining to process an application) then the Broker will begin to consider lease start dates to begin on the 1st day of the month after next.

13. Properties may be Temporarily Taken Off the Market in Certain Situations

The time between when an Application is deemed “approvable” by the Broker and the Lease is signed can be several days. In order to avoid receiving Applications while the Lease is pending signature, the Broker may discontinue advertising for a property.

14. About Pending, Active and or Recently Discharged Bankruptcies

Applicants presenting an Application while a Chapter 7 Bankruptcy is pending will be automatically declined. Applicants presenting an Application with an active Chapter 13 Bankruptcy will be automatically declined. Applicants presenting an Application who have recently had a Chapter 7 or a Chapter 13 discharged will not automatically be declined, but must meet the minimum Lease Application approval requirements, including having the advertised minimum required Credit Score.

15. About Evictions & Repossessions

Applicants applying with evictions and or repossessions in their history will be automatically declined by the Broker. The term “eviction” shall refer to, but not be limited to unlawful detainer, ejectment, forcible entry, etc.

16. Authorized User Policy aka “Piggybacking”

When an individual is made an Authorized User on another individual’s credit card or revolving credit account their credit score may be positively affected if the Primary Cardholder has good or excellent credit. Individuals with good credit sell Authorized User access to their credit cards and revolving credit accounts commercially and the practice is sometimes referred to as “piggybacking”. The Broker is aware that piggybacking is legal, but the Broker and other lenders consider this to be a deceptive practice. When a review of the Applicant’s credit report reveals that 33% or more of the Applicant’s total credit card limit and or revolving credit limit is supplied by being an Authorized User on another individual’s credit card(s) and or revolving credit account(s) and that individual is not a spouse, then the Broker will automatically decline the Application and issue an Adverse Action Notice and depending on the circumstances the Broker may also issue a Federal Trade Commission (FTC) “Red Flag” Notice.

17. Citizen or Legal Resident

All Applicants must be legal residents of the United States. All Applicants will be asked if they are a United States Citizen, a permanent resident alien, a non-permanent resident alien, or an illegal alien. If the Applicant declares they are a permanent or non-permanent resident alien, they must provide supporting documents. If the Applicant fails to provide the required proof, then their Application will be declined. If the Applicant declares that they are an illegal alien, then their Application will be declined.

18. US Credit Scores Required

All Applicants must have a credit report and a qualifying Credit Score.

There are two exceptions to this rule. (1) When one member of a married couple individually qualifies on the credit and income requirements and the other spouse does not have a credit report, then the Broker will make an exception to this rule. When both spouses have a credit report each must have a qualifying Credit Score. (2) When a Foreign National who is an employee of a multinational corporation is transferred to the Birmingham Area and does not have a US Credit File then the Broker will consider leasing to this individual provided the following conditions are met:

1. The Corporation that employs the Foreign National or a third party, such as a relocation agency, agrees to guarantee the lease.
2. The Corporation that employs the Foreign National or a third party, such as a relocation agency, must be registered with the Alabama Secretary of State.
3. The Corporation that employs the Foreign National or a third party, such as a relocation agency, affirms in writing that the subject individual does not have a US Credit File.
4. The Foreign National Employee agrees to provide their Passport and a TIN, ITIN or SSN that is current (not pending or expired).
5. The Foreign National Employee agrees to sign a Consent to a Credit Check and Background Investigation in order to confirm that there is no US Credit File.
6. The Corporation that employs the Foreign National or a third party, such as a relocation agency, that will guarantee the lease must have a business credit report available to be purchased online by the Broker.
7. The Corporation Guaranteeing the lease must be rated in Dun & Bradstreet and have at least a 5A1 rating.
8. Relocation Agencies are required to provide the engagement, retention, or services agreement with the Corporations they represent.
9. The Broker will hold the Security Deposit.

19. Documentation of Qualifying Recurring Income

Applicants demonstrating financial capacity to pay rent on recurring income must document a gross income to rent ratio of at least 3.33 to 1 and a net income to rent ratio of at least 2.78 to 1 for the past 24 months.

Applicants who can document a gross income to rent ratio of at least 3.33 to 1 and a net income to rent ratio of at least 2.78 to 1 for only the past 12 months may qualify with a Cosigner.

Conditions that can Cause Your Lease Application to be Declined include but are not limited to:

1. If your employment is inconsistent and or irregular it may cause your Application to be declined.
2. Gaps in your employment history may cause your Application to be declined.
3. If you have had 3 or more Employers within the previous 12 months it may cause your Application to be declined.
4. If your employment is classified or offered as “Temporary” it may cause your Application to be declined.
5. A history of income in a declining industry may cause your application to be declined.

This policy was published and became effective on May 20, 2026 and applies to rental properties listed after that date. This policy does not reflect the published policy that was in force before May 20, 2026.

20. Self-Employed Income Verification Disclosure

If the Applicant is self-employed, income must be verified through a third-party screening service, including but not limited to Snappt, using bank account data and/or bank statements sufficient for the Broker to reasonably calculate the Applicant’s Net Income to Rent Ratio. The minimum required Net Income to Rent Ratio is 2.78 to 1. If business and personal funds are commingled in one or more accounts and the Broker cannot clearly and reliably distinguish business revenue from personal deposits and business expenses from personal expenditures, the income will be deemed unverifiable and will not be considered for qualification. The Broker assumes no obligation to accept written or verbal explanations from the Applicant regarding the nature of deposits or expenses, and any inability to verify income to the required standard will result in the application being declined.

Additional Income Documentation Limitation

The Broker does not accept CPA-prepared, compiled, or unaudited financial statements, letters, or certifications as verification of income, including but not limited to documents derived from Applicant-supplied tax returns, tax transcripts, or financial records. Such documents are not considered independently verifiable and do not meet the Broker’s income verification standards. Income must be verified solely through the methods described above, and any documentation that does not meet these standards will not be considered.

21. IRS Letter Required in Certain Situations

In the situation where an Applicant(s) only recurring income is Social Security and the Applicant is not required to file income tax returns, then the Broker will require a Verification of Non-Filing Letter from the IRS.

22. Who is Required to Present a Joint Application

Both spouses of married couples must submit a Lease Application. Both members of an unmarried couple may present a joint application.

23. The Broker Requires Both Spouses to Apply when a Divorce is Pending

It is the Broker’s understanding that until and unless a pending divorce is adjudicated that the assets and liabilities of the Marital Estate may be connected. Therefore the Broker has a duty to calculate the Debt to Income Ratio of the spouses together. The Broker cannot do this without seeing the soon to be ex-spouses credit report. The Broker cannot reasonably assume that the Applicant will be in a position to pay the rent before the divorce is finalized. Therefore the Broker shall require the non-occupying spouse to sign a Cosigner Agreement.

The above is not set forth as legal advice. The Broker is not an Attorney. If you have any questions or concerns about your rights and responsibilities concerning residential leasing if you are in the process of obtaining a divorce, please consult with an Attorney.

24. Application Processing Policy

The Broker does not render an approve or decline decision based on the order of when applications are submitted, he renders those decisions based on the order of when they are completed. Properties are not put on hold when an application is submitted.

25. Roommate Occupancy Policy

For purposes of this policy, a “roommate” arrangement refers to two or more unrelated adults occupying the same rental property, regardless of the nature of the relationship between them.

Most municipalities in the Jefferson County and Shelby County metropolitan area limit occupancy by unrelated adults to a maximum of two persons per dwelling. Dean & Associates Inc applies this two-person limit as the working standard for all properties we manage.

Applications proposing three or more unrelated adult occupants will be considered only when the Applicant provides documentary evidence that the municipality in which the property is located expressly permits three or more unrelated adults to occupy a single-family dwelling. Acceptable evidence includes a citation to the relevant section of the municipal code, a written confirmation from the municipality’s zoning or code enforcement office, or equivalent authoritative source. General references, third-party summaries, and verbal assurances will not be accepted.

Applicants should be aware that this information is often difficult to locate, as unrelated-occupancy limits are typically embedded within zoning ordinances under the definition of “family” rather than in landlord-tenant provisions, and many municipal codes are not fully indexed online. The burden of identifying and documenting the applicable ordinance rests with the Applicant.

The Broker retains sole discretion in determining whether the evidence submitted is sufficient. Absent satisfactory documentation, the two-person limit will apply.

This policy applies uniformly to all Applicants regardless of any characteristic protected by federal, state, or local fair housing law.

This policy is effective May 18, 2026. This specific roommate policy is not reflected in the current advertising for properties listed before May 18, 2026.

26. No More than One Family per Home

For the purpose of this disclosure, a “family” shall be defined as a group residing together and consisting of parents, children, and other relatives by blood or marriage. The Broker and the Landlord retain the right of freedom of contract to lease with whomever we want as long as it is not for a discriminatory reason against a protected class. Two or more families residing in one home are not a protected class. It shall be the Broker’s policy not to rent to more than one family per residence.

27. Background Reports

In addition to the Broker pulling Applicants’ credit reports, the Broker will also pull background reports, including but not limited to, nationwide criminal history reports, on all Applicants and on all occupants age 19 and older. Occupants 19+ years old who are not Applicants will be required to sign a consent form and pay a $32.25 fee.

The Broker may review criminal conviction history as part of the rental application process. A criminal record does not automatically disqualify an Applicant. The Broker will consider whether the record shows a current or recent risk to the health, safety, or peaceful enjoyment of residents, staff, guests, vendors, or the property.

The Broker will not deny an application based solely on an arrest that did not result in conviction, dismissed charges, sealed or expunged records, juvenile records, minor traffic offenses, or criminal history that is not reasonably related to tenancy, resident safety, property safety, or lease compliance.

The Broker may deny an application based on a conviction or pending charge only after considering the nature and severity of the offense, the age of the offense, the Applicant’s age at the time, the time elapsed since conviction or release, the Applicant’s rental history since the offense, evidence of rehabilitation, completion of sentence or supervision, and any additional information provided by the Applicant.

The following records may result in denial if they fall within the applicable review period and are reasonably related to tenancy, safety, or property protection:

Category	Review period
Felony conviction involving homicide, sexual assault, kidnapping, human trafficking, or other serious violent offense	10 years, or longer only with legal review
Conviction requiring current sex-offender registration	Legal review required; for HUD-assisted housing, special mandatory rules may apply
Felony conviction involving arson, explosives, burglary, robbery, weapons violence, or serious property destruction	7 years
Felony conviction involving manufacture or distribution of illegal drugs	7 years
Felony conviction involving theft, fraud, forgery, or financial crimes directly relevant to tenancy or property management	5-7 years
Misdemeanor conviction involving violence, stalking, harassment, property damage, or drug distribution	3-5 years
Older convictions outside the review period	Not considered unless required by law or approved by counsel based on a specific, documented safety concern

28. The Broker’s Corporate Lease Policy

In the Listing Agreement between the Broker and the Property Owner the subject of Corporate Lease Offers is not addressed. It is the Broker’s understanding that individual Property Owners cannot be compelled to accept a Corporate Lease Offer. Therefore this entire policy hinges on whether or not the Property Owner will accept a Corporate Lease Offer.

If a Property Owner expresses interest in considering a Corporate Lease Offer, then the Broker’s conditions are as follows:

1. The Corporation must be registered with the Alabama Secretary of State.
2. If a Corporation does not have a 5A1 D&B Rating then a Principal of the Corporation will have to personally guarantee the lease and submit a personal lease application.
3. The Occupant must be an Employee of the Corporation.
4. The Occupant must be residing in the US legally and have an active SSN or ITIN.
5. The Occupant must consent to Credit and Background Check.

LEGAL DISCLAIMER:

The information contained above is not set forth as Legal Advice. The Broker is not an Attorney. None of the Broker’s Agents are Attorneys. The Broker or his Agents do not provide legal services or legal advice. If you have questions about your rights and responsibilities as a Rental Customer, Applicant, or Tenant, please consult with an Attorney.

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