Terms & Definitions
Application for Residency: All persons over the age of 18 must complete a rental application. This includes: Primary lease holders, Co-signers, roommates, and additional occupants.
Community Rules & Regulations: A set of laws, rules, or other orders prescribed by the property managers and the Metro Multifamily Housing Association, to regulate conduct.
Lease Terms: The period of time for which a lease is made. A contract granting use or occupation of property during a specified period in exchange for a specified rent. The term or duration of such a contract.
Move-in Costs: The initial application fees, refundable and non-refundable deposits, and other fees associated with moving into a new apartment home.
Non-Refundable Deposit or Fee: Funds that will not be returned, as they are used to cover expenses of each specific requirement.
Proof of Income: Current pay stub; letter of hiring on company letterhead; previous years tax return.
Refundable Deposit: Funds that may be returned once final requirements are met.
Rental Criteria: The screening criteria used to determine rental approval including: rental or mortgage history, credit, income, employment, criminal history, roommates, co-signers, application verification, etc.