BOUND BROOK APARTMENTS APPLICATION CRITERIA
Please read our application criteria and community policies below. An application must be submitted by every adult who will live in the apartment.
– Application Fee: $45.00 – first applicant / $25.00 per additional applicant
– Payment in the amount of $75.00 as a refundable deposit towards your first months rent. (Deposit may be forfeited after three days of application approval.)
Once your application has been approved, you will need to provide the following:
1. Payment in the amount of your balance of the first month’s rent is required within 48 hours of approval. This will hold the apartment for you until move-in. The deposit is non-refundable.
2. $70.00 for the township inspection made payable to Borough of Bound Brook.
3. At lease signing, you will need to provide payment for your security deposit in the amount of 1 or 1½ months rent.
CREDIT CARD, DEBIT CARD, MONEY ORDER, OR CERTIFIED CHECK made payable to Bound Brook Apartments to pay application fee, security deposit, inspection fee and first month’s rent.
*Payment may be in the form of: Visa Card, Master Card, or Discover Card or a
Money Order/Certified Check made payable to Bound Brook, LLC.
Income: Each occupant over the age of 18 is required to complete an application. Each applicant must demonstrate a verifiable income. There is a minimum monthly income of 3 times the monthly rent to qualify.
Combined Income: The combined income of roommates will be considered, provided each applicant earns a minimum of 70% of the total qualifying income.
Credit: A credit history depicting any of the following may be grounds for denial:
a. Unpaid liens or judgments.
b. Bankruptcy, unless applicant can provide verification that positive credit has been reestablished and maintained after seven years of discharge.
c. We use a statistically validated scoring model, which measures each applicants risk in terms of paying their monthly rent. The model takes into consideration many aspects of an applicant’s credit history and income to determine the amount of risk for that particular applicant. Management has set specific decision points within the models score range for Bound Brook Apartments.
Rental History: Applicant must demonstrate a minimum of two (2) years rental or ownership history if applicable. History of a poor payment record, destructive or abusive behavior or poor housekeeping practices will be grounds for denial.
Co-signers: Co-signers will be considered only where income is deficient, not with credit or job defaults. Co-signers must have a qualified income of 1.5 times the monthly rent to co-sign.
Criminal: A criminal background check will be run on all initially approved applications. Any conviction of a crime may result in the application being denied.
Occupancy: There is a maximum occupancy limit on each type of apartment. One bedroom – 2 occupants and two bedrooms – 4 occupants. Violation of this regulation will result in eviction if not corrected immediately.
Please be advised that the submission of your application does not hold an apartment. An apartment will only be held for you once we receive the required deposit. Our company policy is based on a first come, first served basis.
Every applicant will be required to submit the following documentation:
1. Copy of Photo Identification (for each applicant)
2. Copy of Social Security Card (for each applicant)
3. Proof of Income (Last thirty days of pay stubs or Employee Verification – click to view/download)
4. Landlord Verification(click to view/download)
5. Civil Rights Form (click to view/download)
Lease Term: 6-12 Months
Pet Fee:$25.00 per month per pet for dog rent, $15.00 per month per pet for cat rent and a $250.00 per pet, non-refundable pet fee. See our pet policy for more information.
Lease Termination: Two month’s current rent, as per lease.
Internal Transfer: Only allowed after initial lease term has been fulfilled. $450.00 if during lease term. No charge if term is fulfilled. You may only up/down grade. No lateral transfers are permitted.
Rent Includes: Heat, hot and cold water. Resident is responsible for cooking gas and electric.
NSF Fee: $25
Late Fee: $50