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. Self-Employed Applicants

Neither the Broker nor the Broker’s verification vendor provides accounting services to untangle commingled business and personal funds.

To qualify, all Applicants must verify a net personal income of at least 3.5 times the monthly rent. A self-employed Applicant initially verifies income by providing bank statements covering the six most recent consecutive months for a distinct personal checking account. This is done during the identity and income verification step using the secure link the Broker emails after the application advances to review. Bank statements are not uploaded directly to this application.

The burden rests entirely on the Applicant to provide bank statements from an obviously dedicated personal account. The Broker will not evaluate transactions, separate funds, or make subjective determinations as to whether an account is commingled. If an Applicant submits statements for a business account, or any account that does not clearly and exclusively reflect distinct personal income, the Applicant must instead provide a verifiable CPA letter confirming a net personal income of at least 3.5 times the monthly rent.

Verifiable CPA Letter Requirements: This must be a formal letter from a licensed Certified Public Accountant (CPA). The letter must:

• Be written on official accounting firm letterhead.
• Come from a CPA with a verifiable permanent office (the Broker shall not be required to make extraordinary efforts to contact and communicate with the CPA).
• Include the CPA’s active license number and state of issue.
• State that the CPA compiled or reviewed the documents provided by the Applicant, rather than giving an absolute financial guarantee or audit opinion of the Applicant’s future income.
• Explicitly state the Applicant’s verified net income figures for the previous two tax years, as reported on their filed federal tax returns.
• Explicitly confirm that the Applicant’s actual net income meets or exceeds 3.5 times the monthly rent.
• Be signed and notarized.

If an Applicant is unable to provide clear bank statements or a verifiable CPA letter demonstrating the required net income, the application will be declined..

3. Minimum Criteria For Lease Application Approval

The minimum criteria for Lease Application Approval are Property specific. The minimum credit score, the minimum income to rent ratio, the maximum Debt to Income Ratio, and the limit on account Delinquencies are published in the online advertising for each Property.

The criteria published in the online advertising for a Property are the criteria for that Property. They are applied uniformly to every Applicant for that Property, without exception, per Federal Fair Housing equitable enforcement requirements.

The criteria in effect when an Applicant applies are the criteria published in the online advertising for that Property at the time of application. The Broker retains every Lease Application.

4. No-Score Exception Policy

This section applies only to an Applicant who has no credit score. It is an exception to the credit score requirement only. All other criteria published in the online advertising for the Property apply to the Applicant in full.

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:

• No Active Debt Obligations
  The credit report reflects no open tradelines or revolving/installment debt, and the Applicant’s Debt-to-Income ratio is effectively 0%.
• 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.
• Satisfactory Payment History
  The credit report shows no Delinquency. A Delinquency is defined as: a past-due account; an unpaid collection; an unpaid charge-off; an unpaid judgment; or any negative or derogatory account information. An unpaid, past-due federal tax balance that is not under an IRS installment agreement or other IRS-approved payment arrangement is also a Delinquency if it becomes known to the Broker during the review of the Application. An account reported as paid in full, settled with a zero balance, or brought current is not a Delinquency. This is the same Delinquency standard applied to every Applicant.
• 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.
• 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.

5. 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. The maximum Debt to Income Ratio for the home applied for is published in that home’s online advertising.

6. 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. This limitation on challenges to the Credit Report does not restrict the other information the Broker requires to review the Application, including the Applicant’s Verification Report and the obligations the Applicant reports on the application, each of which the Broker considers under its published standards.

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. The Applicant’s Debt to Income Ratio includes the monthly amount of the recurring obligations the Applicant reports on the application, such as personal loans, alimony, child support, other court-ordered payments, and any monthly payment under an IRS installment agreement or other IRS-approved payment arrangement. The Applicant provides these monthly amounts on the application. The Broker also includes any such payment that becomes known to the Broker during the review of the Application. If the Applicant has an IRS installment agreement or other IRS-approved payment arrangement, the Applicant agrees to provide the Broker, upon demand, a copy of the IRS letter establishing that arrangement.

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.

7. 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.

8. 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.

9. 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.

10. 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 had a Chapter 7 or a Chapter 13 discharged will not automatically be declined. An Applicant with a discharged Bankruptcy is treated the same as every other Applicant and must meet the same published minimum Lease Application approval requirements, including the minimum credit score for the home applied for.

11. 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.

12. 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.

13. US Credit Scores Required

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

There are exceptions to this rule. 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. The exception in Section 4 applies.

14. Income Requirement and Verification

The Applicant agrees to use and cooperate with a third-party consumer reporting agency for income verification. The Broker shall not be responsible for directly accepting any documentation regarding the Applicant’s income or for calculating the Applicant’s income.

Your income is verified and calculated by an independent consumer reporting agency (Snappt), not by the Broker. The Broker uses the single income figure Snappt provides and applies our minimum income requirements uniformly to all applicants. We do not recalculate this figure or reconstruct it from underlying documents.  Special conditions apply to Self-Employed Individuals, see disclosure above.

Verification Process & Requirements:

Method: You must verify your income through Snappt by connecting your payroll/bank account data or by uploading documents.

Required Documents: If uploading documents manually, you must provide your most recent 6 consecutive monthly bank statements or paystubs. Incomplete submissions will require additional documents.

Current Income Only: Future or anticipated income—including offer letters or jobs with less than 28 days of verifiable pay—cannot be counted toward your minimum annual income requirement.

Disputes & Accommodations:
If your application is declined based on this verification, you will receive an Adverse Action Notice containing Snappt’s contact information. All questions or disputes regarding the calculated income must be directed to Snappt.

15. Joint Applications and Qualification Criteria

Maximum Debt to Income Ratio: For all joint applications, the combined Debt to Income Ratio may not exceed the maximum published in the online advertising for that Property.

Married Couples: Both spouses are required to submit a joint Lease Application. To qualify, both spouses must independently meet the minimum qualifying credit score and have no account delinquencies.

Unmarried Couples and Roommates: Unmarried couples and Roommates may choose to submit a joint application and combine their incomes to meet the minimum income and DTI requirements. To qualify as a joint application, both individuals must independently meet the minimum qualifying credit score and have no account delinquencies.

16. 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.

17. Application Processing Policy

The Broker does not render an approve or decline decision based on the order in which applications are submitted; decisions are based on the order in which applications are completed. Properties are not put on hold when an application is submitted.

18. 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.

19. 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.

20. 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 $30 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

21. Corporate Leases and Business Entities

Dean & Associates Inc does not offer residential Lease agreements to Corporations, Limited Liability Companies (LLCs), Partnerships, Trusts, Estates, or any other legal entity or organization. The named Tenant (or Tenants) on every Lease must be a natural person who will be a primary Occupant of the residence, and every application must be submitted in that natural person’s name. An application that lists any entity, rather than a natural-person Occupant, as the prospective Tenant will not be processed. This standard is applied uniformly to every application, without exception.

22. New or Recently Started Employment

Employment or self-employment an Applicant has accepted but not yet started, or that began within the most recent 28 days, is New Employment.

Every Applicant must meet all of the published Minimum Application Requirements on verified income, including the Minimum Annual Income Requirement measured against the income figure the verification report confirms. Income the verification report cannot confirm, including income from New Employment that has not produced at least 28 consecutive days of pay, is not counted and cannot be replaced by an offer letter or any statement of future income.

An Applicant who meets the published requirements on counted, verified income is approved on that income. An Applicant who does not meet the requirements on counted, verified income is declined.

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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