Thank you for applying to live at 2500 Rimrock Apartments! These criteria explain the process we use to select our residents. 2500 Rimrock, LLC/AlexanderRE, LLC is an Equal Housing Opportunity provider and it is our policy to treat all residents and visitors fairly and consistently without regard to race, color, religion, sex, national origin, disability or familial status. This community and its employees comply with the provisions of Title VIII of the Civil Rights Act of 1968, the Fair Housing Amendments Act of 1988 (“Fair Housing Act”) and, to the extent applicable, the Americans with Disabilities Act. Furthermore, this community complies with the state and local fair housing regulations of the jurisdictions in which it is located.
This community will not discriminate against any person or persons on any basis prohibited by law including but not limited to race, color, religion, national origin, sex, disability, source of income, sexual orientation, age or familial status. In addition, AlexanderRE, LLC has a Section 504 Policy that addresses all reasonable accommodation requests. For more information on reasonable accommodation requests, contact the Community Manager.
|Lease Term||1 year|
|Security Deposit||1/2 month’s rent|
|Holding Deposit||1 month’s rent due at lease signing|
|Tenant Utilities||Electric, Gas, Hot Water, Flat Rate for Water/Sewer: 1 bed is $15/mo and 2 beds is $25/mo.|
|Occupancy Standards||2 persons per bedroom. No more than 2 unrelated adults per apartment. Children under 3 are excluded from occupancy limits.|
|Parking||Underground ($60/stall/mo) or surface parking available. See the leasing agent for availability, terms, and rates.|
|Pet Policy||Dogs and cats are welcome at 2500 Rimrock, LLC, up to two pets per apartment (70 lb. weight limit total for dogs). Refundable deposit of 1/2 month’s rent. Monthly pet fees are $50/dog/mo and $20/cat/mo. Fish tanks are permitted up to 20 gallons. Other caged animals will be considered. No ferrets, rabbits, or birds. All pets must be approved by management and covered under a pet addendum. Pet owners are required to clean up after their pets. Pets must be covered under tenant’s renter’s insurance policy. Having a pet is a privilege that will be revoked if policies are not followed.|
BASIC ELIGIBILITY REQUIREMENTS
THE APPLICATION PROCESS
After reviewing the resident selection criteria, prospective tenants must submit an application and a non-refundable $30.00 application fee. An application cannot be processed unless it is fully complete. The application fee is not refundable & applies to all applicants over the age of 18 years old. Applicants must list all members who will reside in the apartment. Once the application is approved and the available apartment is accepted, the applicant will sign a lease agreement in which the applicant agrees to abide by all the rules and regulations.
THE WAITING LIST
If a unit is not available, interested parties may join the waiting list. The waiting list is organized by unit size and individuals remain on it for 3 months. When a unit comes available, those on the wait list, whom have expressed interest in that size unit, will be contacted. Failure to respond to attempted contacts will result in removal from the waiting list. Applications will be processed in the order received with application fee, holding deposit & signed Holding Deposit Agreement.
Minimum Income: The household’s gross monthly income must equal 1 1/2 times the monthly rent. If applicants do not meet this requirement, they may use a cosigner. Cosigner must complete a separate application and is subject to credit/background screening and the minimum income requirement.
Credit Screening: A report will be obtained through a commercial credit-reporting agency and will yield one of three decisions: Accept, Accept with Conditions, and Denied. Applicants whose credit decision is “accept with conditions” will be required to obtain a co-signer and pay a security deposit equal to a full month’s rent, pending background, criminal and rental history checks.
Background and criminal record checks: All applicants and household members over 18 years of age will be screened for criminal history. All applicants shall disclose in their application if any household member(s) have criminal charges pending at the time of application and if so, where and what the pending criminal charges are. A history of any of the following by any household member is cause for rejection of an application for housing:
Rental History: Rental history for the past 3 years must indicate the ability to care for the property without damage and pay rent on time. Applicant must be able to establish the necessary utilities with the appropriate utility provider. Previous evictions and/or judgments for rent are grounds for denial of the application. If the applicant has lived with relatives within the last two years, the relatives will be contacted for a landlord reference check.
Security Deposit: Security deposit must be paid in full upon signing lease.
Rejection Procedures: If an applicant is denied, a letter of denial will be sent to the current address listed on the application. If an applicant disputes the accuracy of any information provided to 2500 Rimrock, LLC/AlexanderRE, LLC by a screening service or credit reporting agency, the applicant may contact the screening company that supplied the information within 60 days of the denial to obtain a copy of screening results. The name and address of the screening company and a reference number will be provided in the denial letter. Denied applicants may reapply to the community after six months.
INCOME AND ASSETS
A portion of the 1-bedroom units at 2500 Rimrock Lofts are part of the New Market Tax Credit Program (NMTC), which has income and student status restrictions. The income maximums listed in this section only apply to these specific units.
Income from most assets is computed using actual income received or .06% interest, whichever is greater. Homes are considered an asset but are treated differently than other assets; deductions for unpaid principal and closing costs (10%) will be used before imputing future income which is calculated at .06% interest.
What counts as income? ALL sources of a household’s income (such as wages, housing vouchers, recurring gifts from family members, public assistance, Food Share, student financial aid, etc.) will count towards the minimum income requirement. Certain kinds of income do not count towards the maximum income limit; see management for details.
Below are tables that contain the minimum and maximum income requirements and restrictions. Example: For a household of 2 to qualify for a 1 BR NMTC unit, the household’s total annual income must be at least $16,560 and may not be more than $52,600.
Table A: Rental Rates, Minimum Income Requirements, and Maximum Occupancy Limits
|Floor Plan||Rent||Minimum Annual Income||Maximum Number of Occupants|
|1 BR 1 BA NMTC (Income Restricted)||$935||$16,830||2|
|1 BR 1 BA (Market Rate)||$900-$1,015||$16,200-$18,270||2|
|2 BR 1 BA (Market Rate)||$1,250||$22,500||4|
|2 BR 2 BA (Market Rate)||$1,475||$26,500||2|
*Children under 3 are excluded from occupancy limits
Table B: Maximum Income Restrictions by Household Size (Dane County 2015)
|Household Size||NMTC Program (Only)|
*Children under 3 are excluded from occupancy limits