Colebrook Apartments Application Criteria

In order to apply, you will need to provide the following:

1. Application Fee: $50 for each adult applicant.

2. Deposit: $300 as a refundable deposit towards your first months rent. (Deposit will be forfeited after three days of application approval.)

At lease signing you will need to provide the following:

1. Deposit of the first month’s rent.
2. Payment for your security deposit – $350.00 or one month’s rent based on income and credit history.
3. At lease signing you will need to provide proof of renters insurance that complies with the requirements in the lease.

*We accept Money order or Certified Bank Check made out to Colebrook Associates, LP or Debit or Credit card.

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; 3 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:

1. Unpaid liens or judgements
2. Bankruptcy, unless applicant can provide verification that positive credit has been reestablished and maintained after three years of bankruptcy.
3. 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 Colebrook Apartments.

Rental History: An Applicant should demonstrate their rental or property ownership history for two years preceding the application. If the applicant was living with a parent(s), guardian(s) or relative(s), Applicant must identify the person(s) responsible for that address. If the Applicant has a history of poor
payment record, destructive or abusive behavior, poor housekeeping practices or prior landlord tenant action(s) against them, for whatever reason, that shall be grounds for denial of an application.

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 performed on all Applicants and the proposed occupants from the age of 18 and over of the apartment. Any convictions or a history of arrests may result in the Application being denied.

Occupancy:There is a maximum occupancy limit on each type of apartment. Studios – 1 Occupant, One-bedroom – 2 Occupants, Two-bedrooms – 4 Occupants, Three-bedrooms – 6 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. Completed Application

Lease Term: 8-12 Months

Application Fee: $50.00 per applicant/ $100.00 corporate (non-refundable)

Lease Termination: One month current rent, as per lease, plus forfeiture of security deposit

Internal Transfer: $300.00 if during lease term. No charge if term is fulfilled. You may only up/downgrade. No lateral transfers are permitted.

Pet Policy: We allow dogs and cats. Please read our pet policy for more information.

NSF Fee: $50.00

Late Fee: $75.00

Rent includes: Landscaping , Trash & Snow Removal

Renters Insurance Requirements: Proof of renters insurance is required at time of move-in. The liability limit must be $100,000.00 and Colebrook Apartments must be listed as an “additional interested party”. It may be purchased with the company of your choice.