We've been leasing our first couple of homes in Atlanta, GA and Dallas, TX. It's been an incredible experience speaking to families interested in finding a better way to rent. Our first customers are excited about building wealth around housing. We hope to have more renters onboarded to our platform.
We continue to get inquiries on who qualifies for our Renting with Benefits program. We will add this information in our Knowledge Base soon but wanted to provide an explainer on how we evaluate candidates during our pre-qualification process. Our goal is to make this process as smooth and straightforward as possible.
First, we require all applicants to have a credit score of 650 or higher. This helps us ensure that applicants are responsible and trustworthy.
Rent to Income Ratio
Second, we require applicants to make three times the monthly rent. This ensures that applicants are financially secure and can easily afford the rent.
Third, we do not accept applicants with open chapter 7 bankruptcies. This helps us ensure that applicants are not currently facing financial hardship and can successfully fulfill their obligations.
Finally, we like to know what type of renter you will be. We will always ask for the contact information of your prior landlord. The goal is to make sure you have been a good tenant during your time in you prior home.
We hope that these guidelines make the pre-qualification process easier. As a co-investor in our portfolio, we want to guarantee that the Ascend Portfolio of Homes performs well. That is dependent on the families living in our homes. We all benefit the more invested everyone else is.
If you have any questions, please feel free to get in touch with us and we'll be happy to help.
The Ascend Team