| Scott Street
Townhomes has been developed in cooperation with the Texas
Department of Housing and Community Affairs to provide quality
townhome living at affordable rents. Although designed primarily
for families of low to moderate income, any interested person
is eligible for occupancy at market rent. All applicants
will be screened and selected on the same basis, considering
previous rental experience, credit history, employment status,
criminal record and the like.
RENTS.
Rents depend on family income with
each applicant falling into one of two income groups –
60% and over 60% of Houston Area Median Income (AMI).
Approximate rents are as follows (check with management to
obtain current asking rent).
|
Income Group |
1
Bdrm Rent |
2
Bdrm Rent |
3
Bdrm Rent |
|
60% AMI or
less |
$610 |
$720 - 730 |
$830 – 840 |
|
Over 60% |
$680 |
$770 – 800 |
$870 - 890 |
UTILITIES.
Water and sewer
will be provided by the owners. Electricity, phone, cable TV
and internet services will be paid by residents.
INCOME VERIFICATION.
Family income must be verified and will include wages, child
support, social security, pension income, alimony, welfare
benefits, interest and all other sources. Interest income
on financial assets will be estimated by formula.
INCOME
LIMITS. The
maximum allowable income for each resident income group
is a function of family size and is limited to the year
2005 annual rates set by the Texas Department of Housing
and Community Affairs:
|
|
Income Group |
1
Person |
2
Persons |
3
Persons |
4
Persons |
5
Persons |
6
Persons |
|
1 |
60% of AMI |
$25,620 |
$29,280 |
$32,940 |
$36,600 |
$39,540 |
$42,480 |
|
2 |
Over 60% |
No Limit |
No Limit |
No Limit |
No Limit |
No Limit |
No Limit |
MINIMUM INCOME.
In addition to the above income limits, the owners of Scott
Street will require that each resident demonstrate that his or
her family income is at a minimum of three times their
monthly rent.
SECTION 8. Applicants
eligible for Section 8 rental assistance through local housing
authorities are welcome at Scott Street. These applicants
must demonstrate that their monthly gross income is a minimum
of 2.5x’s their portion of the rent for which they are
applying. Applications and tenancy will be subject to
the same screening and background checks applicable to all
other residents.
NO PETS. No pets
are allowed at Scott Street. (Exceptions may be granted
to persons with a medically-certified disability requiring
ownership of a pet and subject to a non-refundable pet deposit.)
Residents must comply with this and all other house rules
and community policies covered in their lease.
APPLICATION FEES AND
DEPOSITS. Applications for residency must be accompanied
by a non-refundable $35 fee for each family member age 18
and older to cover the cost of processing and background checks. Approved
applicants must pay their first month’s rent prior to
move-in plus a security deposit of $250 for a 1 Bdrm unit,
$300 for a 2 Bdrm unit and $350 for a 3 Bdrm unit.
* * *
This information sheet is a
summary for general information only. Residency at the
property will be subject to other procedures and conditions
included in a definitive lease agreement and will always be
governed by applicable law. The owners of Scott Street reserve
the right to waive or vary from the information included above
without prior notice.
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