Obsidian Management Co Rental Criteria

Obsidian Management Co.’s Policy is to actively pursue and offer equal housing for all persons regardless of race, color, religion, sex, national origin, handicap, or familial status.

All persons 18 or older must: A) complete an application, and B) sign the lease- unless approved as a permitted adult occupant. Emancipated minors must show written legal proof of status.

SECURITY DEPOSIT AND FEES:

An application fee will be charged per completed application. We will not hold an apartment or process an application without all fees being paid. A security deposit will be required per lease and will be refundable at the end of the lease term if no the unit is not damaged. If the application is approved with conditions, there will be an additional non-refundable administrative fee required. Our representatives will receive application deposit in the amount indicated in the application agreement. The application deposit will be credited toward the required security deposit when the lease has been signed by all parties; or it will be refunded if the applicant is not approved or will be retained by us as liquidated damages if you fail to sign or withdraw of the application agreement.

Holding Fee (nonrefundable) required by the applicant to hold the units for more than 14 days.

Unit type and fees: NON-REFUNDABLE

One Bedroom:  Administrative Fee + Application Fee

Two Bedroom:  Administrative Fee + Application Fee

Security Deposit: REFUNDABLE

**All Fees are at the discretion of the property**

RENTAL INSURANCE REQUIRED

SMOKING IS NOT PERMITTED ON THE PROPERTY

Applicant requirements:

1. Identification: All applicants must have a Government Issued photo

2. Non-citizens: Applicants who are citizens of another country must provide:
   • a
   • the ITIN document that entitles the applicant to be in the United States; and (3) proof of employment in this This community may ask to make a photocopy of any of the applicant’s ITIN documents, passport, and Visa. In addition, for applicants who do not have credit history in this country and/or guarantor, this community will accept in lieu of the credit/guarantor requirements an additional deposit equal to one month’s market rent, unless otherwise expressed in writing by management.

3. Criminal History: It is the policy of Obsidian Management Companies to review an applicant’s past criminal history as there is a legitimate concern about the health, safety, and/or comfort of other residents and employees, as well as a legitimate concern
   • regarding the potential risk for property Criminal history only refers to criminal convictions, which include deferred adjudication and/or pretrial diversion. Generally, factors including, but not limited to the following, will be considered when
   • reviewing the applicant’s criminal conviction(s): nature and severity of the crime; when the crime was committed; and whether the type of criminal conduct is a concern to the legitimate interests of the property, property owner, and property management.

4. Generally, applicants with the following criminal convictions will be excluded from a residency at this apartment community:
   • murder; (2) arson; (3) any felony relating to the manufacture or sale of illegal drugs, including controlled substances; and (4) any sex-related crime requiring applicants present registry as a sex offender under the State’s Sex Offender programs. Notwithstanding the above, it is the policy of Obsidian Management Co. to review the foregoing factors regarding Applicant’s criminal conviction(s) and consider any evidence of mitigation provided by Applicant.

5. The applicant shall not be rejected solely based upon an arrest or charge that is not, yet a criminal conviction as defined above. Applicants with pending criminal litigation who are subsequently convicted, given deferred adjudication, or given pretrial diversion, for any of the crimes including, but not limited to, those provided above, during the term of any prospective lease, may be in default of their rental agreement and may be required to vacate the premises.

6. When applicants have not lived in this state for at least 12 months prior to the application date, we will endeavor to check criminal history for the previous states of residence over the past 7 Please note that this requirement does not constitute a guarantee that residents or occupants currently residing in our community have not been charged with or convicted of a felony or deferred adjudication for a felony or misdemeanor crime against a person or property.

7. Income: All applications must have a verifiable source of income in a gross amount of no less than (2.5) times the market rental rate. Income must be verified by one of the following options: 1) 4 most recent consecutive check stubs, 2) Income Verification form completed by the 3rd party income source, or 3) Statement of income from a third-party such as Social Security, retirement account service, etc. Self-employed applicants must provide their 2 most recent personal bank account statements and one of the following: 1) Two most recent tax returns, or IRS transcripts, 2) If a tax return has not been filed, or if the applicant has been self-employed less than two years, the applicant may provide an estimated Profit and Loss Statement from their accountant or attorney. Income must be verified and effective before the proposed move-in date. (See #13)

8. Employment: All applicants are required to be on the current job for at least 6 months.
   • If not, prior work history will be
   • Rental History: All applicants are required to provide at least 6 months of rental history. Previous rental history must be satisfactory (rent was paid on time, proper notice given to management, lease obligation was fulfilled, the apartment was left in good condition, and no evictions).
   • First-time renters will be accepted if applicants agree to pre-pay an additional deposit equal to one month’s rent and all other qualifying criteria are met or first-time-renters may have an option to have a co-signer acceptance – please see #13 for further details.

9. Credit History: Established retail credit rating in good Note: Co-signers will be permitted if there is no credit history; however, will NOT be permitted if credit history is unfavorable (See #13). Bankruptcies over two years old will be accepted with current good credit. Foreclosures will be accepted if over two years old and with good credit since the foreclosure. Credit score must be at least 600 or higher.

10. Maximum Occupancy per Apartment:

11. Vehicle Regulations: Recreational or commercial vehicles are not allowed unless such an area has been designated by Management. Parking space is limited, therefore, the number of vehicles per apartment is limited to only two vehicles.

12. Pet Regulations: No more than 2 pets under 80 pounds will be permitted per apartment. Aggressive dogs will not be The following is a list of breeds deemed aggressive. If your animal is a mix, documentation is required stating the animal is not over 30% of the following restricted breeds. Additional breeds may be added if deemed necessary. Additionally, pet interviews/photos may be required at any time.
    1. OWNERS ARE RESPONSIBLE FOR THEIR PETS AT ALL TIMES.
    2. Restricted Breeds: Akita; Airedale Terrier; American Bulldog; American Pit Bull/Bull Terrier; American Staffordshire Terrier; Bouvier des Flandres; Briard; Bull Mastiff; Chow; Doberman; German Shepherd; Giant and Standard Schnauzer; Rottweiler

• REQUIRED FEES

1. Pet Deposit: NON-FUNDABLE ONE TIME FEE
2. Pet Fee: MONTHLY FEE PER PET

Service Animals: Are permitted with proper documentation, without regard to breed. Certification, as needed, must be provided by a medical doctor or a licensed psychologist. All animals must abide by community rules unless there is a documented reason they cannot.

1. OWNERS ARE RESPONSIBLE FOR THEIR SERVICE ANIMALS AT ALL TIMES AND ARE LIABLE FOR ANY DAMAGE OR INJURY CAUSED BY THE ANIMAL.

13. Co-signer Acceptance: An applicant may be eligible for residency with a co-signer only under the
    • The co-signer must meet the entire qualifying criteria as presented in the Horseshoe Rental Criteria sheet.
    • The co-signer may NOT be used due to an unfavorable credit
    • The co-signer must submit an application and pay an application processing
    • The co-signer must reside in the state of Texas.
    • The co-signer is required to sign all legal forms including a Co-signer Guarantee form and will be listed on the

14. Falsification: Any falsification of information on the application automatically disqualifies the applicant or occupant and will result in the retention of all application, administration, and security deposits.

Please review in detail. Your signature notes that you understand and acknowledge the Residential Rental Criteria.