804 N Delaware St, Ste A. Indianapolis, IN 46204   •   Phone: 317.924.0810   •   Maintenance: 317.716.9893

Qualifying Requirements

Thank you for considering renting or lease purchasing from Alpine Property Management. The following are qualifying guidelines for application approval.

Residence History:

How have you treated your past landlords or mortgage companies?

We look at your last 2 years of residency for positive, verifiable, history. We ask your landlords about late payments, NSF checks, warrants, complaints, and condition of the property when you left. We also verify that notice has been given and that you did not leave with a balance due or collection account. If you leased from an apartment community, they usually require written notice from you before they will verify your history.

Have you owned a home and paid a mortgage?

The payment history will be on your credit report and we will not have to call the lender.

Employment/Income:

Do you have verifiable income of 3 or more times the monthly rent?

We will contact your employer to verify your position, income and length of time with the company. If your employer will not verify your income over the phone, you can show 2 recent original pay stubs to quicken this process and we will photocopy them for the application. If your recent employment is a new job, you can show an original offer letter on letterhead to verify income and we will photocopy it for the application.

Are you self-employed?

If you are self-employed, instead of pay stubs you can provide one of the following: (1) 2 banking statements showing deposits and monthly balances for each month, or (2) a copy of a most current year's tax return with an accountant's signature, or (3) 1 or more 1099's showing income for contract work.

Do you have other sources of verifiable income?

Social Security, retirement or pension, trust funds, disability payments, substantial savings accounts, spousal or child support, and second jobs are examples of acceptable sources of income when written verification is available. Tips or cash paid income can only be counted toward the gross income with verification from the employer in writing.

Can we combine our income?

A married couple's income is combined to qualify for this requirement. Adult roommates must each have income of 2 times the monthly rent. If income is short of this requirement, a qualified cosigner may be used to offset income if credit and residency is acceptable.

Credit Report:

How you have paid your past obligations?

We look for evictions in the past five years as well as unpaid utility bills. Payment history, the amount of debt and amount of credit available is generally revealed in your credit report. Alpine uses Equifax to pull the credit reports and Beacon scores of all adults 18 years of age and over who will occupy the home. Applicants with Beacon scores above 650 that meet income and residency requirements generally are approved with security deposits of one month's rent. Applicants that have weak credit scores, recent bankruptcies, collections or slow payment history generally can be approved, but may be required to pay higher security deposit's after evaluation of income and residency.

If you know you have bad credit, be prepared... you may need to pay a deposit in the amount of 2 months' rent or more to offset the risk to the owner.

Other Requirements:

Alpine can often offset a weak area by strengthening another. For example, a larger security deposit or a qualified co-signer may offset weak credit or new employment.

At Time of Application: