First and last month's rents, fees, and deposits are all required upon approval of application and before possession of the unit is given. Last month's rent may be waived by the Property Manager if application meets ALL of the following requirements:

1. Income 3 times the rent amount.

2. Favorable references from current and previous landlords. (2 years or more.)

3. If applicant is a homeowner and has no previous rental history, the following will be required:
   a) Copy of closing statement if property was sold.
   b) Verification by Selling Realtor.
   c) Proof of mortgage payments made.

4. A credit check will be run and a factor applied against the number of accounts and outstanding balances. Acceptable debt-to-income ratio is 50%.

5. Verification of income is made by:
   a) Verifying employment.
   b) Proof of self-employment by a copy of income tax returns.
   c) Non-employment income by:
        - proof of Social Security income
        - proof of CD's, etc.
        - proof of retirement income
        - proof of insurance or other income.

6. Employment of at least 1 year with same employer.

7. No recorded or unrecorded collections or judgments.

PLEASE NOTE:

• Negative landlord references, insufficient income, bad credit, and FED's are all ground for rejection of application.

• Any information provided that is incomplete, inaccurate, or falsified shall be grounds for denial of the application, or subsequent termination of tenancy, upon determination of said information.

• Information from public records which may include a history of civil and/or criminal records may be obtained.

If application is denied, the applicant may dispute the accuracy of any information provided to Hemenway Realtors.
Rev 1/00