The Park at Chappell Hill
The Park at Chappell Hill

Frequently Asked Questions

What are your qualifying guidelines?

# of Occupants Per Floor Plan 
1 Bedroom                  2 
1 Bedroom/Study        3 
2 Bedroom                  4 
3 Bedroom                  5
 
Application 
Applications for residency at Chappell Hill are based on three criteria: 

  1. Rental or mortgage payment and history 
  2. Credit report status 
  3. Income (sufficient to pay rent amount applied for; rent to total 1/3 or less of income) 
 
Rental History 
Good current, verifiable rental or mortgage history is required.  Rental history must meet the following requirements: 
  1. Resident history is required.  Status must be current and in good standing with lease or mortgage terms adhered to at present. 
  2. If no resident history is verifiable, a lease guarantor may be required.  The lease guarantor must meet standard guidelines.  Guarantor cannot be a roommate. 
  3. If applicant has none of the above, a guarantor may be required. 
  4. A move-out notice given to present landlord is required (the length of this notice is determined by the lease that has been signed) 
  5. No evictions. Cannot owe money to another apartment complex.
  6. Derogatory information obtained from prior rental or mortgage history could be cause for automatic rejection.
 
 Credit 
A credit status report will be processed through a credit bureau.  This report must meet the following credit requirements. 
  1. If more than two charge offs or two collections, accounts are reported, an additional security deposit equal to one-month rent may be required. 
  2. If more than two accounts are 60 days or more past due, an additional security deposit equal to one-month rent may be required. 
Credit reflecting past due medical accounts will not be held against the applicant credit. 
 
Income 
Income must be verified by employer check stubs, federal tax returns, or, if self-employed, an affidavit or bank statement with 1099 backups. 
  1. These amounts must be verifiable.  If no income is verifiable (ex-students), a lease guarantor is required. 
  2. Applicants whose rent exceeds 1/3 of their monthly income will possibly not qualify or will require guarantor. 
  3. Income must be verifiable.  If self-employed, monetary value must be determined through tax returns, self-employment affidavit or bank statements; otherwise, a guarantor may be required; however, rental and mortgage history and credit will also be considered in these situations.
 
Other 
  1. Co-applicants or roommate situations must realize that they are equally responsible for the lease and rent stipulations. 
  2. Deposits obtained eligible for refund at move-out will be refunded in all lessors’ names. 
  3. All occupants (other than dependents) will be qualified on the same criteria. 
  4. Every adult living in the rental unit must apply and be approved and be a party to the lease, i.e. a resident, so that person can be held accountable for any lease violation.
  5. Felonies are subject to approval or denial based on length of time since conviction and severity of offense. Felonies over ten years old for a nonviolent crime can be approved, a felony for a violent crime is an automatic denial.