CHESTNUT COURT 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 for each adult applicant. An additional $15.00 will be charged for each additional adult that will be living in the apartment.
Once your application has been approved, you will need to provide the following in order to reserve the apartment:
1. Non-Refundable deposit of the first month’s rent. This must be paid within 48 hours in order to hold the apartment.
2. Separate payment for your security deposit equal to 1 1/2 months rent.
3. Money order or certified check in the amount of $50 for the township inspection made payable to Matawan Bureau of Fire Protection.
*We accept credit card, money order or Certified Bank Check made out to Chestnut Court Apartments, LLC.
Income: Each occupant over the age of 18 is required to complete an application. Each applicant must demonstrate a verifiable income. The minimum monthly income requirements are as follows: Three times the monthly rent.
Combined Income: The combined income of roommates will be considered, provided each applicant earns a minimum of 60% of the total qualifying income.
Credit: A credit history depicting any of the following may be grounds for denial:
- Unpaid liens or judgements
- Bankruptcy, unless applicant can provide verification that positive credit has been reestablished and maintained after three years of bankruptcy.
- We use a statistically validated scoring model, which measures each applicants’ risk in terms of paying their monthly 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 Chestnut Court Apartments.
Rental History: Applicant must demonstrate a minimum of two 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 qualify at 1.5 times the qualifying income.
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 – 3 occupants (3rd occupant must be under 12 years of age), and two bedrooms – 4 occupants. Violation of this regulation will result in eviction if not corrected immediately.
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 History(click to view/download)
5. Multiple Dwelling Reporting Rule Tenant Applicant Inquiry (Download here)
6. Completed Application
Lease Term: 12 Months
Lease Termination: 2 month’s current rent.
Month to Month: $75 plus renewal increase (must fulfill initial lease term)
Pet Policy: Cats and Dogs Welcome. (Additional Fees Apply – view policy here)
Internal Transfer: $450 if during lease term. No charge if term is fulfilled. You may only up/down grade. No lateral transfers are permitted.
NSF Fee: $30
Late Fee: $50
Rent Includes: Heat, hot water, cold water, sewer, trash removal, snow removal, landscaping and 24 hour maintenance.