Step-By-Step Prospective Resident Guide

PRE-QUALIFY

Will I Qualify for a Deca Property?

This is a guide to help you determine if you pre–qualify for a Deca home or an apartment. An application must be submitted in order for Deca to determine whether you qualify. We encourage each prospect to fully read the following rental criteria and contact our office with questions.

Employment and Income

To qualify for a Deca property, your net monthly income must be at least three (3) times the monthly rent. Net income refers to take-home pay, which is the amount remaining after taxes and other deductions.

Example:
Rent = $1,000
Required Minimum Net Income (3x Rent) = $3,000

If applying with other adult applicants, the combined net monthly income of all applicants must meet the requirement of three (3) times the monthly rent.

Example:
Rent = $2,000
Required Minimum Net Income (3x Rent) = $6,000
Applicant 1 + Applicant 2 Combined Net Income = $6,000

If you or your co-signer have a current mortgage or other financial obligations, your total income must be at least three (3) times the rent plus other obligations.

Example (Adult child applicant & parent co-signer):
Rent = $1,000
Co-Signer’s Mortgage Payment = $1,500
Required Minimum Net Income (3x Rent + Mortgage) = $4,500
Applicant Net Income + Co-Signer Net Income = $4,500

If you have liquid assets that demonstrate your ability to cover rent payments, you may be exempt from the income-to-rent ratio requirement. Proof of assets will be required and reviewed on a case-by-case basis.

Assistance from agencies or housing subsidies qualifies as a source of income and is valued at one and a half (1.5) times the monthly rent. To qualify, you must show income equal to one and a half (1.5) times the monthly rent to cover the remaining portion. The housing assistance valuation plus the applicant’s net income combined must equal three (3) times the monthly rent.

Example:
Rent = $800
Required Minimum Net Income (3x Rent) = $2,400
Housing Subsidy Value (1.5x Rent) = $1,200
Applicant Net Income (1.5x Rent) = $1,200

You are required to submit documentation of your voucher or a letter from the assistance agency or organization providing the housing subsidy. If the documentation indicates that your portion of the rent is zero, you will need to provide proof of income for utility coverage.

Proof of income or assets is required, and multiple documents may be needed to verify income. The following documents in original PDF format will be accepted.

Additional Documentation (if applicable):

Rental History

A strong rental or mortgage history is essential to qualify for a Deca property. Applicants must provide accurate contact information for all landlords or property managers within the past three (3) years. Failure to do so or providing inaccurate information to hide negative rental history will result in a denial of tenancy.

Deca will verify your rental history by running a national eviction record report and by sending your current and previous landlords or property managers a rental verification request form to confirm that rent was paid on time, lease terms were honored, and proper care was taken of the property. Rental verification from the applicant’s family members or friends will not be accepted.

On-time mortgage payments are considered positive rental history for applicants who own or have owned a home within the past three (3) years. Applicants may be required to submit documentation of on-time payment history if the loan/mortgage is not reflected on the credit report.

If you have no rental history or if your rental history is shorter than one (1) year, you may still qualify if:

• You meet all other eligibility requirements, and
• You have a co-applicant who meets the rental history criteria,
• You provide a qualified co-signer, or
• You pay a non-refundable $250 rental history fee.*

*The rental history fee does not replace the requirement for applicants with rental history if the applicant chooses not to provide contact information for current and previous landlords or the property manager does not complete a rental verification request form.

Ineligible Rental or Mortgage History

If your rental history includes ANY outstanding balances or unresolved landlord actions, regardless of the date, you will NOT be eligible to rent from Deca.

If any of the following occurred within the past three (3) years, you will NOT be eligible to rent from Deca:

*Negative rental or mortgage history over three (3) years old will be taken into consideration and may impact your eligibility.

Credit Score

Credit Report vs. Credit Score

Sole Applicant Only

Applicant and Co-Applicant

*Co-Signer Requirement

Co-Signer Requirements

Co-Signer Liability

Criminal Background

At Deca, we prioritize the safety, well-being, and respect of our residents, neighbors, and properties. We will not rent to individuals who pose a potential risk to others or the community.

To evaluate criminal history, Deca conducts a national criminal record report and also reviews public records through the Missouri Case.net website and other states and counties in which the applicant has resided using name and date of birth.

If your criminal history includes any of the following, you will NOT be eligible to rent from Deca:

Misdemeanor convictions within the past three (3) years except for diving-related convictions.

Note: The following misdemeanor convictions, regardless of when they occurred, will result in disqualification:

Felony convictions within the past seven (7) years.

Note: The following felony convictions, regardless of when they occurred, will result in disqualification:

If you are an owner and you are interested in learning more about how Deca Property Management can help you, contact us today! The team is happy to talk to you about what it is like to partner with us. 

If you are a future resident looking for a rental property, send us a message and we will help you find your dream home!