Rental Criteria

It is the policy of Terrace Place Apartments to treat all past, current and prospective residents in a fair, professional manner, without regard to race, color, religion, sex, familial status, handicap or national origin, requirements and protections of VAWA Act of 2013. Each person is fully responsible for executing a lease agreement and it’s supporting documents and for making payment in full amounts due under the contract.

Applications for residency are accepted during regular business hours.

  • All persons 18 years or older that will be occupying the apartment are required to complete, sign and return an application and will jointly qualify for the apartment. A nonrefundable application fee of $50.00 per adult household member is required at the time of application.
  • A valid state issued, photo I.D., driver’s license or U.S. Passport is required.
  • Applicant must list all family members who will reside in the apartment.
  • Applicant must disclose social security numbers for all household members, who are U.S. citizens, and provide proof. Non U.S. citizens must provide proper government documentation and photo I.D.
  • Income includes, but is not limited to wages, social security, pensions, retirement accounts and other assets (for applicable communities/units).
  • Applicant must agree to background screening regarding criminal convictions and credit worthiness.
  • Applicants are responsible for notifying the Terrace Place Apartments of any changes in address and/or contact information.

Income Requirement

Your gross monthly income must be at least 3 (Three) times the monthly rent. For example – $1,399.00 a month unit requires an income of $4,197. Proof of income will be required with your application.

Application Fee

Our application fee is $50.00 per person 18 (Eighteen) years and older. Applications take 3-5 business days to process. All information on application will be verified.

Credit Score

Credit score requirements vary. Please contact our leasing office for more details. If you do not have the minimum credit score required you will be able to provide a Co-Signer that meets this requirement.

Pets

We charge a one time non-refundable fee as follows:1 Pet- $300.00. Each unit is allowed a maximum of 1 pet (max size of 35lbs). In addition there will be a monthly rent charge per pet of $35. It will be your responsibility to provide all pertinent pet information as part of your online application.

Security Deposits

The security deposits is $500.00 and applied towards your first month’s rent.  The security deposit will be valid for a period of 30 days to allow for the application process to be completed. If your unit is not ready this is subject to change.

Renters Insurance

You are required to carry a renters insurance policy for the duration of your stay. Please bring this policy to your lease signing. We hope this answers some of the questions you may have had. If you happen to have any further questions feel free to reach out to us directly at 260-723-7020.