Champion Investments

Application Process & Qualification Guidelines


IMPORTANT — PLEASE READ THESE GUIDELINES BEFORE SUBMITTING AN APPLICATION

Champion Investments wants applicants to understand our rental application process and general qualification standards before paying an application fee.

Submission of an application does not guarantee approval or reserve a property.


1. Who Must Apply

Every person 18 years of age or older who will reside in the property must complete a separate rental application and be approved.

Each adult applicant must provide all requested information and documentation.

An application will not be considered complete until the required information, documentation, authorizations, and application fee have been received.


2. Agency Disclosure

Champion Investments acts as the agent of the property owner in connection with properties we manage.

Unless a separate written agreement states otherwise, Champion Investments does not represent the applicant or tenant and owes its agency duties to the property owner.


3. Application Fee

Each adult applicant must pay the non-refundable application fee shown in the online application.

The application fee covers application processing and screening and is not refunded because an applicant:


  • Is not approved;
  • Chooses another property;
  • Withdraws the application; or
  • Does not move forward after applying.


4. Required Documentation

Depending upon the applicant's circumstances, required documentation may include:


  • Government-issued photo identification.
  • Social Security number verification or Social Security card if requested.
  • Current income documentation.
  • Recent pay statements in their original PDF format when available.
  • Employment verification.
  • Current and previous rental history.
  • Rental ledger and/or prior lease when additional rental verification is needed.
  • Additional documentation reasonably necessary to verify information contained in the application.


Submitting altered, fraudulent, misleading, or materially false information or documentation may result in denial of the application or withdrawal of an approval.


5. Income & Affordability

Applicants must demonstrate sufficient verifiable and reasonably dependable income to support the requested monthly rent.

Champion Investments generally requires verified monthly net income equal to at least 2.5 times the monthly rent.


Maximum Rent Calculation

Maximum Monthly Rent = Verified Monthly Net Income ÷ 2.5


Examples:

  • $2,000 net monthly income = approval up to approximately $800/month.
  • $2,250 net monthly income = approval up to approximately $900/month.
  • $2,500 net monthly income = approval up to approximately $1,000/month.
  • $2,625 net monthly income = approval up to approximately $1,050/month.
  • $3,000 net monthly income = approval up to approximately $1,200/month.
  • $3,500 net monthly income = approval up to approximately $1,400/month.
  • $4,000 net monthly income = approval up to approximately $1,600/month.


When more than one approved adult will be financially responsible under the lease, qualifying verified income may generally be combined.

Qualification is based on the household's verified qualifying income, not whether applicants are married or otherwise related.

An applicant may be approved up to a specific monthly rental amount even if the applicant does not qualify for the property originally requested.

For example, an applicant who does not qualify for a $1,200 property may still be approved for Champion Investments properties priced up to $950 per month.


All income used for qualification must be reasonably verifiable and expected to continue.


6. Income That May Be Considered

Depending upon documentation and circumstances, qualifying income may include:


  • Regular wages or salary.
  • Established part-time employment.
  • Self-employment income.
  • Retirement or pension income.
  • Social Security income.
  • Disability income.
  • Housing vouchers or rental assistance.
  • Court-ordered support or other lawful recurring income that an applicant chooses to rely upon.
  • Other documented and recurring lawful income.


Income is evaluated based upon its amount, history, documentation, and reasonable likelihood of continuing, rather than simply the name or source of the income.


7. Overtime, Part-Time & Variable Income

Overtime, bonuses, commissions, second jobs, part-time employment, and other variable income may require additional documentation before being included as qualifying income.

Champion Investments generally requires an established history of approximately two years when an applicant is relying substantially upon overtime, variable income, or secondary employment to qualify.

Income may be averaged over an appropriate period based upon the documentation provided.

Recently received overtime, bonuses, commissions, or second-job income without an established history may not be included in the qualifying-income calculation.


8. Temporary & Seasonal Employment

Temporary, seasonal, agency, or short-term employment generally will not be counted as qualifying income unless sufficient documentation establishes an ongoing and dependable history of comparable employment and income.

An applicant who has recently transitioned from temporary employment into permanent employment may be asked to provide additional verification before the new income is considered.


9. Newly Started Employment

Applicants who recently began permanent employment may be required to provide:


  • Recent pay statements;
  • Employment verification;
  • A written offer or employment letter;
  • Starting date;
  • Rate of pay; and
  • Confirmation that employment is expected to continue.


Champion Investments may determine qualifying income based upon the documentation reasonably available at the time of application.


10. Self-Employed Applicants

Self-employed applicants must provide sufficient documentation to establish actual recurring personal income.

Documentation may include:


  • Filed tax returns.
  • 1099 forms.
  • Current profit-and-loss statements.
  • Bank statements.
  • Business financial records.
  • Other reliable documentation demonstrating recurring income.


Gross business revenue is not automatically considered personal qualifying income.

Champion Investments evaluates the income reasonably available to the applicant after ordinary business expenses.


11. Rental History

Rental history is an important part of the application review.

Champion Investments may verify:


  • Timely payment of rent.
  • Rental payment history.
  • Amounts currently owed to a landlord or property manager.
  • Lease compliance.
  • Proper notice before leaving a previous rental.
  • Completion of the prior tenancy.
  • Property condition.
  • Eviction judgments or other documented rental-related issues.


Applicants may be required to provide a rental ledger and/or prior lease when rental history cannot otherwise be adequately verified.

An eviction filing alone will not necessarily establish that an applicant violated a lease. Champion Investments may consider the final disposition, judgment, rental ledger, landlord documentation, and other relevant information.

Outstanding balances owed to previous landlords, material lease violations, or an unsatisfactory rental history may result in denial.

Applicants without sufficient verifiable rental history may be asked to provide additional documentation.


12. Credit Screening

Champion Investments may obtain a consumer or credit report as part of the application process.

Credit may be evaluated based upon factors including:


  • Payment history.
  • Collections.
  • Charge-offs.
  • Outstanding housing-related debt.
  • Judgments when legally reportable and relevant.
  • Overall credit history.


Credit is evaluated as part of the overall application and is not necessarily based upon a single credit-score requirement unless a specific property has a separately disclosed requirement.


13. Background Screening

Champion Investments may obtain criminal-history information and other legally permissible background-screening information.

When criminal history is considered, Champion Investments may consider relevant circumstances including:


  • Nature of the conduct.
  • Severity.
  • Disposition.
  • Recency.
  • Relationship of the conduct to the safety of persons or property or the applicant's ability to comply with the lease.


An arrest by itself is not treated as proof that criminal conduct occurred.


14. Co-Signers / Guarantors

A co-signer or guarantor may be considered in appropriate circumstances but is not automatically accepted as a substitute for an applicant who does not otherwise qualify.

Any proposed co-signer or guarantor must:


  • Complete the required application and screening process.
  • Provide requested financial documentation.
  • Meet Champion Investments' applicable qualification requirements.
  • Be approved.
  • Execute any required guaranty documents.


Acceptance of a co-signer or guarantor may depend upon the circumstances of the application and requirements of the property.


15. Pets & Assistance Animals

Champion Investments uses PetScreening.

Applicants must complete the appropriate animal profile at:

championinvestments.petscreening.com

This may include applicants with:


  • Household pets.
  • Assistance animals.
  • No animals, when a no-animal profile is required.


Pet approval is subject to the property owner's pet policy and any applicable property restrictions.

Approval of a rental application does not constitute approval of a pet.

Assistance animals are not pets and are handled in accordance with applicable fair-housing requirements.


16. Security Deposit & Move-In Funds

Approved applicants will receive written instructions identifying the security deposit, first month's rent, and any other amounts required before possession.

Champion Investments' standard security deposit is generally equal to one month's rent, unless otherwise permitted or required under the applicable lease or circumstances.

Payment of an application fee does not secure or reserve a property.


17. Securing a Property

An application, application approval, or verbal discussion does not by itself guarantee that a particular property will remain available.

Champion Investments may continue marketing and processing applications until an approved applicant completes the requirements necessary to secure the property.

Applicants should not assume a property has been reserved until Champion Investments provides confirmation that the required steps to secure the property have been completed.


18. Application Processing

Champion Investments may receive and process applications while a property remains available.

Only complete applications are eligible for final review.

A complete application includes all required:


  • Adult applications.
  • Documentation.
  • Income verification.
  • Identification.
  • Authorizations.
  • Screening information.
  • PetScreening requirements when applicable.
  • Application fees.


Champion Investments will apply its qualification criteria and neutral business standards consistently when reviewing applications.


19. Approval Amount

Applicants may receive an approval stating the maximum monthly rent for which the household currently qualifies.

For example:

Approved for Champion Investments properties up to $1,050 per month.

This allows an applicant who does not qualify for one property to consider other available Champion Investments properties within the applicant's approved rental range.

Approval for a particular rental amount does not guarantee the availability of a property at that price.


20. Approval Period

Rental approval is generally valid for 30 days from the date of approval.

Approval does not guarantee that a particular property will remain available during that period.

If the applicant does not secure a property within the approval period, Champion Investments may require updated:


  • Pay statements.
  • Employment verification.
  • Rental information.
  • Screening information.
  • Other documentation.


A new application or application fee may be required if the approval expires.


21. Housing Vouchers & Rental Assistance

Applicants using a housing voucher or other rental-assistance program should disclose the assistance during the application process.

Champion Investments will consider applicable assistance when determining the applicant's expected tenant-paid portion of the rent and qualification requirements.

Program requirements may include:


  • Property eligibility.
  • Rent limits or payment standards.
  • Inspections.
  • Utility allowances.
  • Required paperwork.
  • Program approval before occupancy.



Participation requirements of the applicable assistance program may affect whether and when a particular property can be leased.


22. Fair Housing & Reasonable Accommodations

Champion Investments provides equal housing opportunities and applies its qualification standards without unlawful discrimination based upon protected classifications under applicable federal, state, or local law.

Applicants who need a reasonable accommodation or reasonable modification because of a disability may submit a request to Champion Investments.


23. Final Approval

Qualification guidelines are intended to determine whether an applicant has the documented financial ability and rental history necessary to meet the obligations of the lease.

Champion Investments reserves the right to request reasonable additional documentation necessary to verify information contained in an application.

No applicant is finally approved and no property is secured until Champion Investments communicates the approval and the applicant completes the required next steps.