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CERRITOS RENTAL QUALIFICATIONS

Thank you for your interest in Cerritos Apartments. Listed below are the detailed rental qualifications to rent at Cerritos. If you have any questions, please call the leasing office and one of our associates will be happy to help you.

All applicants, 18 years of age and older, must complete a separate rental application ($35 application fee per applicant). The information provided will be verified prior to approval for occupancy.

  • 1

    Income Requirement - The total gross income required is two times the amount of the rent.

  • 2

    Credit Report - Each application will be processed through a Shea Properties approved credit screening company. Income, credit rating and other statistical data are used to evaluate the application. There are three possible decisions:

    • Accept: The application is approved at the base security deposit.
    • Accept with Conditions: The application is approved with an increased security deposit. The increased security deposit ranges between two (2) times the standard security deposit up to one (1) month's rent plus the standard security deposit.
    • Decline: The application is declined and residency will not be considered.

    Any applicant without a social security number will be processed through our manual procedure. All applicants without a social security number, who meets the appropriate requirements, will be approved with an increased security deposit equal to one month's rent.

  • 3

    Guarantors - A guarantor is required if the applicant(s) does not have a credit record or lacks sufficient income. They may not be used to offset unsatisfactory credit.

    • Only one guarantor per apartment is permitted regardless of the number of applicants.
    • An individual may only be a guarantor on one apartment at a time.
    • A guarantor must complete an application and pay the application fee.
    • The guarantor application will be run with the lease applicants through the Shea Properties approved credit screening company and must receive an approval rating of "Accept".
    • When a guarantor is used, an additional security deposit equal to one (1) month's rent is required.
  • 4

    Security Deposits

    Deposit Amount Per Bedroom Type:

    • Studio - $300
    • One Bedroom - $400
    • Two Bedroom - $500
  • 5

    Renter's Insurance - Proof of renter's insurance for a minimum of $100,000 is required for the term of the lease from all applicants prior to the move-in date and distribution of keys.

  • 6

    Occupancy Standards - Maximum two people per bedroom plus one additional person for the unit. No more than two (2) occupants in a studio, three (3) occupants in a one bedroom, five(5) occupants in a two bedroom.

Revised: December 20, 2012