Rental Criteria

RENTAL CRITERIA

Rental Policy


On July 11, 2023, the Tacoma City Council passed the updated (effective as of 7/24/2023) Rental Housing Code, providing protections for tenants and specific guidance to landlords who operate residential rental businesses in Tacoma , “Rental Housing Code 1.95” This code is for rentals located within the city of Tacoma only. This code requires, at time of application the landlord must provide the tenant with their written rental criteria (shown below) the website address designated by the City for the purpose of obtaining information: Rental Housing Code (TMC 1.95) - City of Tacoma Local code enforcement action relating to the property and findings or settlements related to housing discrimination against the landlord in pursuant to TMC 1.29 Website address to the Washington Secretary of State for the purposes of registering to vote or changing address if already register to vote: Register to Vote in Washington State


The Tacoma Landlord Fairness Code Initiative (LFCI) became effective December 8, 2023. If you are looking to rent a home within the City of Tacoma boundaries (City of Tacoma address check website: https://www.cityoftacoma.org/government/city_departments/finance/minimum_employment_standards/addre ss_check) please review the initiative at: https://www.tacoma4all.org/initiative01

● Applicant(s) combined NET income must be at least 2.5 times the monthly rent amount plus .5 times the rent for utilities, rental insurance, etc...

● If rent is at or above HUD Fair Market Rent - find information on Huds website at: https://www.huduser.gov/portal/datasets/fmr/fmrs/FY2023_code/select_Geography.odn then the formula is 2 times the rent + .5 times the rent for utilities, rental insurance, etc

● Please let us know if some of the adult occupants will not be financially responsible (their income will not be included in the formula)

● If you do not have a SS number or do not wish to provide it, we will require your last 2 years income tax filing (SS number can be redacted), 12 months bank statements (all pages, no screen shots), 12 months of verifiable on time rent payments (ie: checks or ach payments on the bank statements, copies of money orders, automated ledgers from property management software, etc...) 12 months of verifiable on time utility payments, and proof of no judgments within the last 5 years.

● Please let us know if some of the adult occupants will not be financially responsible (their income will not be included in the formula)


Occupancy: The Keating Memo Of 1991

Maximum Occupancy is based on MINIMUM BUILDING AND STRUCTURES CODE V. Overcrowding, Residential Buildings For single family dwellings & duplexes, the maximum number of residents of a Single Family or Duplex shall not exceed the gross area divided by 300 / Apartments shall not exceed the gross area divided by 200 (see page 54 section V. Overcrowding, Residential Buildings. Of the City of Tacoma MINIMUM BUILDING AND STRUCTURES CODE at: chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://www.govme.org/download/PDF/Code/2000-MB SC.pdf?redir=no


General Statements

● RENTAL INSURANCE IS REQUIRED

● All adult residents must provide a picture ID “In Person” prior to Move In (during application or Move In process), this is to ensure the individuals screened match the actual occupants.

● Each resident over the age of 18 must submit a separate rental application so we can verify each individually for Credit, residential history and Criminal background. Adults may combine income to meet requirements.

● Inaccurate or falsified information will be grounds for denial of the application. Any applicant currently using illegal drugs will be denied and, if approved for tenancy and illegal drug use is later confirmed, the tenant shall be evicted.

● Any individual, whose tenancy may constitute a direct threat to the health and safety of any individual, the complex, or the property of others, shall be denied tenancy.

● If you do not have a SS number or do not wish to provide it, we will require your last 2 years income tax filing (SS number can be redacted), 12 months bank statements (all pages, no screen shots), 12 months of verifiable on time rent payments (ie: checks or ach payments on the bank statements, copies of money orders, automated ledgers from property management software, etc...) 12 months of verifiable on time utility payments, and proof of no judgments within the last 5 years.

● COMPLETED Applications are processed on a first come, first serve basis. Applications are considered as "received" when a completed application for each adult has been received: All questions on the application must be answered (including landlord(s) names and contact information), plus all supporting documents: last 3 months verifiable income (pay stubs or tax reports for self employed persons, reward letters, etc) as well as a copy of your Identification, plus the application fee has been received. In addition, you will need to bring your official ID card to the move in inspection


Income Criteria

● Monthly Income (net or bring home) income of minimum of 2.5 times the stated rent plus $1000. Income must be from a verifiable and legal source. Income within 10% of meeting this requirement MAY be able to use a qualified co/signer if ALL other criteria is met.

● Within the City of Tacoma boundaries: Applicant(s) combined NET income must be at least 2.5 times the monthly rent amount plus .5 times the rent for utilities, rental insurance, etc... If rent is at or above HUD Fair Market Rent - find information on Huds website at: https://www.huduser.gov/portal/datasets/fmr/fmrs/FY2023_code/select_Geography.odn then the formula is 2 times the rent + .5 times the rent for utilities, rental insurance, etc

● SUBSIDIZED RENT PROGRAMS including the Housing Options Program (HOP), Housing Assistance Program (HAP), Veteran’s Assistance Support Housing (VASH) and/or Housing Essential Needs (HEN) and other such programs must attach their housing subsidy’s issued paperwork to the application. Must meet the rental criteria requirements except the income requirements will be based on their portion of the rent. (2.5 times + $1000 OR 2.5 times + .5 times the rent for utilities, insurance… whichever is less)


Employment Criteria

● Twelve months current verifiable income. Submit last 3 months pay stubs received or current award letters.

● Self-employed applications will be verified through state corporation commission and will be required to submit last 3 months bank statements and last two year’s tax returns.


Rental History

● 3 years of positive verifiable contractual rental history from a current third party landlord or home ownership is required. Otherwise co-signer may be allowed as an exception if all other parts of the application meet requirements. ● Five (5) years of eviction free history is required. An eviction under reasonable circumstances (medical issues, circumstances beyond the applicants control…) where the applicant did not aggravate the situation (no damages to the home, left before writ issued…) and is making an effort to pay any balances due, will be considered with a cosigner.

● Three (3) or more 72 hour notices within one year will result in the denial of the application. Three (3) or more NSF’s within one year will result in the denial of the application.

● Rental history reflecting past due and unpaid rent will result in the denial of the application, unless an existing payment plan is being paid as agreed.


Credit Criteria

Credit score of 650 or more is required, negative or adverse debt showing on consumer credit report may require a qualified co-signer. Credit score of less than 650 and/or three (3) or more unpaid collections MAY be considered with a qualified co/signer (this will depend on the circumstances surrounding the low credit score and/or collections – you will need to prove they were not avoidable and/or malicious and/or purposefully committed). See above work around in Lieu of submitting a SS Number.


Criminal Conviction

Criteria Upon receipt of the rental application and screening fee, the landlord will conduct a search of public records to determine whether the applicant or any proposed occupant has been convicted of, or pled guilty to or no-contest to any crime. Applicants with a criminal history are not automatically excluded but criminal history may be considered as part of the criteria for residency as described herein:

Any criminal history will be evaluated in consideration of:

* The age of the individual at the time of the conduct * When the crime occurred * What the underlying conduct entailed * What the applicant has done since the conviction(s)

The property owner does not accept applicants who have been convicted of the following crimes:

1. Sex Offenses under RCW 9A.44 2. Violent offense under RCW 9.94A.030, against landlord, employees, or other tenants 3. Arson under RCW 9A.48 4. Manufacturing, sale, or distribution of controlled substance under RCW 69.50, or Use of Buildings for Unlawful Drugs under RCW 69.53. An arrest is not the same as a conviction, and therefore Sandco Properties, Inc does not accept applications from applicants who have arrests or pending criminal cases. These will result in a suspension of the application process until the charges are resolved. Upon resolution, if an appropriate unit is still available, the processing of the application will be completed. No unit will be held awaiting resolution of pending charges.


Co-Signer requirements: Credit score of 720 or more is required, any negative or adverse debt showing the consumer credit report will not qualify for co-signing. Net Income needs to be a minimum of 4 times the rent (Within the City of Tacoma requirement is 3 times)



Call

(253) 475-4557

Fax

(253)475-2069

Email

Visit

5046 South “M” Street
Tacoma, WA 98408

Mail

PO Box 111641
Tacoma Wa, 98411

Hours

Monday-Friday: 9am – 3pm,

After Hours & Weekends: By Appointment

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