Step By Step Prospective Resident Guide

PRE-QUALIFY

Will I Qualify for a Deca Home or Apartment?

This is a guide to help you determine if you pre–qualify for a Deca home or an apartment. An application must be submitted in order for Deca to determine whether you qualify. We encourage each prospect to fully read the following rental criteria and contact our office with questions.

Employment and Income

Your NET monthly income must be at least three (3) times the monthly rent to qualify for a Deca home or apartment rental. If you have liquid assets that prove your ability to cover the rent payments you may be exempt from the income to rent ratio (proof of assets is required and will be reviewed on a case by case basis) If you have a current mortgage or other financial obligations, you must make three (3) times the sum of rent plus the mortgage and/or other financial obligations.

Assistance from agencies and housing subsidies are considered a source of income and will be valued at one and one-half (1.5) times the monthly rent. If you can provide documentation of the exact amount of your portion (portion for property you are applying for, not current portion) of rent from the assistance agency or housing subsidy, then you will be required to provide proof of income three (3) times your portion of the monthly rent. If this documentation indicates your portion of the monthly rent is zero, you must provide proof of utility coverage.

Proof of income is required. The following in original PDF format are acceptable (in some cases multiple documents will be required):

Other information that may be required:

Rental History

A solid rental history (or mortgage history) is of utmost importance to qualify for a Deca home or apartment. You will need to provide a rental reference within the last three (3) years which confirms a minimum of one (1) year or more of a valid, verifiable rental history from a third-party landlord. If you do not have rental history or if your rental history is shorter than one (1) year and, assuming you meet all other requirements set forth herein, you may qualify if you have a co-applicant who meets the rental history criteria, obtain a qualified co-signer or pay a non-refundable rental history fee of $250. Deca will contact your current landlord and previous landlord(s) to determine if you paid your rent on time, honored your lease terms and took proper care of the applicable rental property.

If rental history includes any of the following within three (3) years prior to the submission of application, applicant will NOT be eligible to rent from Deca. Landlord/Tenant actions, including but not limited to:

Negative rental or mortgage history 3 + years ago will be taken into consideration and may result in you not being eligible. If your history includes any unsatisfied landlord actions you are NOT eligible to rent from Deca.

Credit Score

Credit scores are an important decision-making tool that helps Deca anticipate how likely you are to pay your rent on time. There are opportunities to qualify for a unit if your credit score falls under 600 by paying an additional up-front fee or obtaining a qualified co-signer/co-applicant.

A qualified co-signer must have a minimum credit score of 700 and must show they have the capacity to pay rent if needed, on top of their own debts and financial obligations. Qualified co-signer requirements will be waived for Section 8 and other housing assistance agencies if they do not allow a co-signer (further documentation may be requested and fees may still apply).

Co-Signers are fully liable for the lease and assume the financial responsibility of the lease.

Sole Applicant Only

Applicant and Co-Applicant

*Co-Signer Requirement

Criminal Background

Deca seeks tenants that will adhere to the rules and who have respect for their neighbors and property. Under no circumstance will Deca rent to someone who is a potential danger to life, property or the safety of others.

Deca will conduct a public record search through the Missouri CaseNet website, utilizing name and date of birth, to assist us in seeking information relating to any criminal convictions.

If your history includes any felony convictions within seven (7) years or any misdemeanor convictions within three (3) years prior to the submission of your application, you will NOT be eligible to rent from Deca.

If your history includes any of the following criminal convictions, regardless of when they occurred, you will NOT be eligible to rent from Deca:

All misdemeanors related to real estate or the safety of other tenants will be grounds for not qualifying.

Rental Application Process

Many of our properties are in high demand. In some cases, there may already be multiple applications submitted at the time you submit your application. We cannot guarantee any unit, although it may be available at the time your application is submitted. Units are rented to the best qualified applicant (not based on order received) with the deposit requirement fulfilled. A deposit cannot be fulfilled until the rental application is approved and you have viewed the property. If applying with a Section 8 Voucher, Deca reserves the right to keep the property on the market until the rental rate is agreed upon between the Housing Authority and Landlord. In addition, the Housing Authority inspection must be complete and violations resolved before the property will be removed and held for the applicant. The applicant understands and agrees that the application fee is non refundable if the property is rented by another applicant during the waiting period.

Renter Application Rules:

• Each person 18 years of age and over (or an emancipated minor) who intends to reside in the subject dwelling unit must
  submit a rental application.
• Each applicant must qualify, at Deca’s sole discretion, either: (a) individually, or (b) jointly with other applicants.
• Applications must be filled out and signed or electronically submitted.
• Application fees must be paid prior to processing the rental application.
• Applicant must acknowledge and accept that Deca represents the owner of the property for which applicant is applying.
• If applying with a section 8 voucher, you can only apply for the number of bedrooms that is stated on your voucher.

Required Documents

Applicant must complete the application in detail and provide current picture identification and proof of legal income.

Any falsification of information on the rental application, including non-disclosure of criminal records is grounds for not qualifying.

Methods of Payment:

Ways to Apply for a Rental Property

If you are an owner and you are interested in learning more about how Deca Property Management can help you, contact us today! The team is happy to talk to you about what it is like to partner with us. 

If you are a future resident looking for a rental property, send us a message and we will help you find your dream home!