rental requirements

At Camden Homes, a renter is approved or rejected based on a lease point system. At the end of the application process, if an applicant has 6 or more points they are approved, if they have 5 points they are approved with a 50% higher security deposit. If applicant has less than 5 points, they are not approved to rent. Read below to learn more about our rental criteria and points system. At this time we are not accepting Section 8 housing vouchers across any of our listed homes. 

credit score points

  • 0-549: Guarantor/cosigner will be required, Reject if no co-signer.
  • 2 Points: 550-599 (or N/A)
  • 3 Points: 600-649
  • 4 Points: 650-675
  • 5 Points: 676-699
  • 6 Points: 700+

 For co-applicants: average the credit score for the top TWO applicants.

For applications with co-signers: Co-signers MUST have a 700+ credit score. 6 points if this is met, reject if not.

For applicants who pay a lump sum of the lease amount up front: +1 point for every 6 months of the lease paid up front. Cannot exceed 6 points.

INCOME POINTS

  • Reject: <2x Monthly Rent
  • 0 Points: >2x Monthly Rent
  • 3 Points: >3x Monthly Rent
  • 4 Points: >4x Monthly Rent

For co-applicants: sum only the top TWO applicant incomes.

 For applications with co-signers: 4 Points:  Co-signers MUST have an income 6x that of the monthly rent. Reject if not.

For applicants who pay a lump sum of the lease amount up front: +1 point for every 6 months of the lease paid up front. Cannot exceed 4 points.

CURRENT EMPLOYMENT

  • 0 Points: <1 Year
  • 2 Points: >2 Years
  • 3 Points: >3 Years

For co-applicants: average the points for the top TWO applicants.

For applications with co-signers: Co-signers MUST be employed at current job for >3 years or self employed for >5 years / retired. 3 points if met, reject if not.

verification of lease

  • +2  No Late Payment Over 30 Days
  • +1 Reference Letter or (copy of ledger showing applicant name & property / Management Co. Name) From Landlord in last 36 Months

 For applicants who own their home: we will look at mortgage payments history from the credit report to determine points in this category.

  • -4 for foreclosures in last 24 months

Evictions Filed

  • -3 Points: Within last year- Dismissed
  • -2 Points: Over 1 year- Dismissed
  • Reject: Open Evictions in Last 36 months

Bankruptcies

  • Reject: Open Bankruptcy
  • -4 Points: Within last year
  • -2 Points: Over one year 

For co-applicants: reject entire group if any applicant has an open bankruptcy.

For applications with co-signers: reject entire group if co-signer has any bankruptcies in the last 12 months.

Criminal History

  • Reject: Sex Offender or Domestic Violence Charge
  • -2 Points each: Misdemeanor in past 7 years
  • -4 Points each: Felony in past 7 years 

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