Lease Application Steps
Step 1 - Read Policy and Requirements
Step 2 - Complete Acknowledgement Form
Step 3 - View and Complete Rental Application
Step 1 – Policy and Requipments
LEASE APPLICATION POLICY & REQUIREMENTS AND BROKER DUTIES
Thank you for your interest in living at The Lofts at Albuquerque High/BelVedere – Urban Courtyard Living.
Each applicant (i.e. spouses, co-applicants, roommates) must complete the Application Requirements listed below and pay the application fee of $40, which covers 3rd party costs for credit and criminal background checks. Application fees must be paid online at the time of application with a credit card or checking account (there is a $1.95 processing fee for payments with a checking account and a $3.95 processing fee for payments made with a credit card). Application fees are non-refundable.
Applications are processed only after all required information, documents, application fees and security deposit have been received.
Application processing takes 3 to 5 business days to complete once all application requirements have been received; processing may take longer depending on requirement of additional documentation and receipt of responses from third parties. If additional information is requested, it must be received within 24 hours of request or other applications may be considered.
APPLICATION REQUIREMENTS – STEPS TO APPLY
The following must be completed/provided by each applicant:
- Rental Application – Online: To apply for a loft or courtyard home, go online to www.AbqHigh.com and the listing for the loft or courtyard home you are interested in leasing – click on “Lease Application” to get started. Complete online application. Indicate your desired move-in date. Resident must take possession within 7 days of Loft/Courtyard Home availability. Information provided is used to process a credit/criminal background check.
- Income Verification: Email to Apply@EDoSpaces.com 1 month of pay statements dated within 30 days of application date with year-to-date earnings data. If self-employed or retired, provide 3 months of bank statements or most-recent tax return. If you are starting a new job, or have recently started a new job, and do not have pay statements, provide an offer letter or signed letter from your employer verifying your new income.
- Driver’s License: Email to Apply@EDoSpaces.com a legible color photo of your driver’s license or other government-issued photo ID.
- Security Deposit: Pay of security deposit online immediately following submittal of online application as directed by “Application Received – Next Steps” email. If there is more than one applicant, only one security deposit is to be paid. Security deposit may be paid online with a personal checking account or credit card. Payments made with a checking account are subject to a $3 processing fee. Credit card payments are subject to a 2.75%/$9.95 minimum processing fee. Processing fees are non-refundable and are not a part of the security deposit. Security deposit amounts range from $700 to the equivalent of one month’s rent, depending on the property. Please see the specific unit’s online listing at AbqHigh.com for the security deposit required.
Cancellation of an application after 48 hours of written approval up to 21 days prior to specified move-in date will result in forfeiture of 50% of your security deposit plus $75 for application processing costs. Any cancellation of an approved application less than 21 days prior to specified move-in date will result in 100% forfeiture of security deposit. Applicants who cancel after 48 hours of application approval must wait 2 years to reapply. If application is not approved or if approved application is withdrawn before the 48-hour cancellation period, security deposit will be returned by check within 14 days and mailed to current address on application.
- Rental Verification and Rental Application Requirements & Policy Forms: Sign the Rental Verification and Rental Application Requirements & Policy forms. These forms will be emailed to you to sign electronically within 24 business hours of receipt of your online application and must be completed within 24 hours of being emailed to you.
- Applicants: All applicants, with the exception of applicant’s children under the age of 18, must be at least 18 years old.
- Qualifying Income: Guarantors/co-signers are not accepted. All applicants must have a combined verifiable source of monthly gross income of at least 3 times the monthly rental amount. Equivalent verifiable assets may also be used to meet qualifying requirements by providing proof of other income. Scholastic Financial Aid is not accepted as income.
- Rental History/Landlord Verification: Applicant must provide rental history for the past 2 years or have owned a home during the past 2 years; rental or mortgage history during the previous 2 years must be favorable. If your rental history is with a family member, you may be required to provide copies of the last 3 rent checks.
- Credit History/Background Check:
a. Credit report must have a FICO Score of 650 or higher to pass
b. Any bankruptcies must be at least one year old with satisfactory credit re-established
c. No unpaid civil judgments or collections, or account charge offs less than 12 months prior
d. No conviction of any household member for any drug-related crime or felony
e. No conviction for DUI/DWI coupled with additional citation (ex: speeding, reckless driving, collision) for the last 3 years
f. No recent arrest (pending adjudication) of any household member for any drug-related crime or felony
g. Must pass criminal background check
IMPORTANT RENTAL INFORMATION
- Lease Term: 12-month lease term required. Shorter lease terms are not available. Lease terms may begin anytime during a month (rent is pro-rated for the first month if less than a full month); all leases end at the end of a month regardless of the lease start date (this may result in a lease term of slightly more than 12 months).
- Occupancy Standards:
Single-level lofts/homes – limit of 2 people
Two-level lofts/homes – limit of 3 people
3-Bedroom Townhome (BelVedere) – limit 4 people
Resident pays electricity, which is in Resident’s name. Owners pay through their condo association dues water/sewage/trash/recycling
- Insurance: All residents must carry renter’s insurance with $300,000 personal liability and name the owner of the unit as an additional interest/insured.
- Pets/Assistive Animals:
Allowable pets vary depending on unit/property. See unit listing on AbqHigh.com for pet policy for that unit.
Cats/dogs must be spayed or neutered; a certificate from a vet is required for proof (provide with this application).
Owner must supply a current photo of pet/assistive animal with application.
Pet Rent/Security Deposit/Fees: See unit listing on AbqHigh.com.
- Smoke-Free/Vape-Free Property: No smoking or vaping within 50 feet of the property, including all outdoor areas (courtyards, decks, patios, walkways, parking areas/garages), in any loft, courtyard home, or building common areas or BelVedere common area.
- Parking: Free on-street parking. Residents may park vehicles in the City-owned garage at 100 Arno at their expense – contact the City Parking Division for more information – 505-924-3950. Residents living at BelVedere are provided with 1 secure parking space inside BelVedere (2 spaces for 3-bedroom townhomes and sideyard home).
Step 2 – Acknowledgement Form
401 Central Ave NE, Suite D
Albuquerque, NM 87102
(505) 247-3935 | office
PO Box 27439
Albuquerque, NM 87125