2530 E Madison St #A

Lease terms

- Tenants pay utilities: electricity, gas, water/sewer/garbage which go for about $450 a month. - We require security deposit and proof of renters' insurance. - No pets - Full tenant screening criteria included in the pictures Tenant Selection Criteria and Application Disclosure 1. Property Terms Monthly Rent: $4,000 Security Deposit: $4,000 (one month's rent) Last Month's Rent: Required at move-in Lease Term: 12-month minimum Smoking: Outdoors only (balcony and patio); prohibited indoors Pets: Not permitted Maximum Occupancy: 4 occupants maximum Parking: One garage space included Renter's Insurance: Required; proof due at move-in Utilities: All utilities are the tenant's responsibility Landscaping: Tenant's responsibility Co-Signers / Guarantors: Accepted; see Section 7 Funds due at move-in (certified funds cashier's check or wire transfer): First month's rent: $4,000 Last month's rent: $4,000 Security deposit: $4,000 Total due at move-in: $12,000 2. How to Apply Applications are submitted through Zillow. Only complete applications will be processed, in the order received. In compliance with Seattle Municipal Code (SMC) 14.08.050, the first completed application that meets our minimum criteria will be offered tenancy. Every adult occupant (age 18 or older, or emancipated minor) must submit a separate individual application. A group application is not considered complete until all adult members of the household have submitted their individual applications and all required documentation has been received. Applications are not accepted unless all applicants have personally viewed the property. For out-of-area applicants, a virtual tour via FaceTime, Zoom, or another real-time interactive method is acceptable. Each application is date- and time-stamped upon receipt. Completed applications are reviewed strictly in the order received. If you need additional time to complete your application due to a language barrier or disability, please notify us in writing. Your place in line will be established as of the date of your request. If we request information not specified in this notice, you will have 72 hours to respond, and your position in the queue will be preserved. After tenancy is offered, you will have 48 hours to accept before we proceed to the next qualified applicant. 3. Required Documentation Each applicant must submit the following: Valid, government-issued photo ID Most recent pay stub(s), or alternative income documentation (see Section 4.3) Contact information for all landlords / housing providers for the past 24 months Any housing vouchers, rental subsidies, or assistance program documentation you wish to have considered Self-employed applicants: bank statements for the last 3 months and signed tax returns for the last 1 year Relocation applicants: offer letter on employer letterhead including applicant name and compensation summary Alternative documentation: Applicants may provide an ITIN, passport, consular ID, or other alternative identification in lieu of a Social Security Number. Alternative proof will be evaluated on the same terms as any other documentation (RCW 49.60.222). 4. Minimum Criteria for Acceptance 4.1 Income Monthly verifiable gross income from all applicants who will sign the lease must collectively equal or exceed $10,000/month (2.5x monthly rent), per SMC 14.08.050(F). Acceptable income sources include wages, salary, self-employment, Social Security, SSI, pension, investment income, child support, spousal support, housing assistance, Section 8, veterans benefits, and other public or private assistance programs (RCW 59.18.255). When a housing subsidy applies, the income ratio is calculated against the tenant's portion of rent only. 4.2 Credit History We conduct an individualized review of credit history. A credit score of 700 or above is a baseline guideline. All open accounts in good standing for a minimum of 2 years. Derogatory history (charge-offs, unpaid collections, pattern of late payments) may result in denial. Limited U.S. credit history due to immigration or citizenship status is not itself grounds for denial; applicants may provide alternative proof of financial responsibility. Final credit determination is made in conjunction with income, rental history, and employment stability (RCW 49.60.222). 4.3 Employment 12 or more months of verifiable employment with a current or recent employer. Self-employed: 3 months of bank statements and 1 year of signed tax returns. Relocation applicants: employer offer letter with name and compensation. Retired, disabled, student, and other non-traditionally employed applicants are welcome -- all verifiable income sources are considered equally. 4.4 Rental History* 24 months of valid, verifiable rental or mortgage history with favorable references. If rental history is less than 24 months, personal references equivalent to two favorable landlord references may be substituted. If a former landlord does not respond within 48 hours, this may result in denial. We will not consider any nonpayment of rent between March 1, 2020 and December 31, 2021 (RCW 59.18.625), nor any eviction initiated during or within six months of the COVID-19 civil emergency (SMC 14.09.026). 4.5 Criminal History In compliance with Seattle Municipal Code Chapter 14.09, we do not inquire into or consider criminal history as part of our screening process. Narrow exception: we may conduct an individualized risk assessment for any adult applicant who appears on a public sex offender registry for a crime committed as an adult. 5. Additional Grounds for Denial Based on civil court records or landlord/personal references, we may deny an application if there is a reasonable likelihood that the applicant, or those acting under their control, will interfere with the health, safety, or right of peaceful enjoyment of neighbors; cause damage to the property; or be unable to meet financial obligations. A group application is terminated if one applicant is denied, unless the remaining applicants elect to resubmit without the denied applicant. 6. Adverse Action Notice If your application is denied or alternative terms are offered, you will receive a written Adverse Action Notice stating the basis for the decision and providing contact information for the consumer reporting agency used, so you may obtain a free copy of your screening report and dispute any inaccuracies (RCW 59.18.257). You will have an opportunity to contest any records before a final determination is made. 7. Co-Signer / Guarantor Criteria Co-signers must meet ALL of the following: Rental/Mortgage History: 12+ months with no late payments Credit: All open accounts in good standing for 2 years, less than $100 in derogatory credit; any open or discharged bankruptcy results in denial Employment: 24 months with current employer, or prior employment in the same field Income: Verifiable gross income of at least 6x monthly rent ($24,000/month minimum) 8. After Your Application Is Approved A lease will be sent by email for review. You will have 48 hours to e-sign. After signing, you will receive a countersigned copy. Prior to move-in, we will schedule a walk-through. Funds due at move-in are required as certified funds (cashier's check or wire transfer). At move-in we will complete and co-sign a condition report, photograph the property, and hand over keys and access items. A copy of the Seattle Renter's Handbook will be provided at offer of tenancy and at each lease renewal (SMC 7.24.080). 9. Fair Housing Statement We are an equal opportunity housing provider. We do not discriminate on the basis of race, color, religion, sex, national origin, disability, familial status, marital status, source of income, sexual orientation, gender identity, gender expression, immigration or citizenship status, veteran or military status, or any other class protected by applicable federal, state, or local law. If you require a reasonable accommodation to participate in the application process or inspect the property, please contact us.