Tenant Selection Criteria

4. Housing Assistance (Section 8 and others)

• Housing assistance status itself is not a negative factor. All applicants are screened using the same published criteria for rental history, credit, background, and references.
• Income requirement is 2.5× your tenant portion of rent as determined by the Housing Authority
• Provide: valid voucher, RFTA packet, and your caseworker's contact information
• No side payments; all rent amounts must be approved and documented by the Housing Authority
• Voucher must be active and valid through the expected lease start date
• Move-in requires Housing Authority inspection and rent reasonableness approval

5. Discretionary credit exception (rare)

Applicants who do not meet the minimum credit score requirement may be considered only if all conditions below are met. Approval under this exception is not guaranteed and will be evaluated under these published criteria and documented risk factors.

• 36+ months of verifiable, on-time rental history
• No housing-related collections (utilities/energy/water/landlord claims) in the past 36 months
• No unpaid auto loan charge-offs or repossessions in the past 48 months
• Demonstrated positive bank balances and cash flow for the most recent 60 days
• All other criteria (employment, income, background, references) must still be met

6. Guarantor policy

A guarantor is a qualified individual who agrees in writing to be financially responsible for the lease obligations if the tenant fails to pay or otherwise defaults. A guarantor is not a substitute for incomplete documentation and is not a "character reference." Guarantors are accepted only under the standards below, which are applied consistently to all applicants.

a. When a guarantor may be considered

• A guarantor may be considered only when an applicant meets all screening requirements for credit, background, rental history, and documentation, but does not fully meet the income requirement.
• A guarantor is not available to offset material misrepresentations or items not approved under the published standards for background, eviction, bankruptcy, and credit described above.
• Approval with a guarantor is not guaranteed and remains subject to owner/agent discretion based on documented risk factors and consistency with published standards.

b. Guarantor qualification requirements (mandatory)

• Identity: Valid government-issued photo ID (color copy).
• Income: Verifiable gross monthly income — 3 × the tenant portion for Housing Choice Voucher (HCV) and Section 8 applicants, and at least 4× the monthly rent measured against full contract rent for non-voucher applicants.
• Employment: 24+ months of verifiable employment or self-employment history (self-employment requires 24 months of tax returns).
• Credit: Minimum credit score of 700 (strictly enforced).
• Credit disqualifiers: Housing-related collections (utilities/energy/water/landlord claims), repossessions, charge-offs, or a pattern of unpaid obligations may result in denial.
• Background: Evictions, bankruptcies, and criminal history are reviewed under the published background standard above, using the same individualized look-backs and assessments described in Section e. Items falling outside that standard, or material misrepresentations, may result in denial.
• Residency: Guarantor must reside in the United States and be reachable for verification.

c. Guarantor legal and payment terms

• The guarantor must complete a separate application and pass screening. Application fees (if any) apply.
• The guarantor must sign a guaranty agreement that provides joint and several liability for all lease obligations, including rent, fees, damages, and legal costs, to the fullest extent permitted by law.
• The guarantor remains responsible for the lease term and any extensions/renewals unless released in writing by the owner/agent.
• The presence of a guarantor does not change payment due dates or late fee policies.
• At lease renewal, the tenant must independently meet all published income and qualification requirements, or the guarantor must agree in writing to remain in force for the renewal term. If neither condition is met, the lease may be non-renewed.

d. Important notes

• No side payments or undisclosed arrangements are permitted.
• Documentation must be complete and verifiable. Incomplete guarantor packages will not be processed.
• Carwoods reserves the right to request additional documentation to verify identity, income, and stability.

7. Co-signer policy

A co-signer is not the same as a guarantor. A co-signer signs the lease itself as a co-tenant and is jointly and severally liable for all lease obligations from the first day of the tenancy — regardless of whether the primary tenant pays. Because a co-signer is legally a co-tenant under Texas law, they are subject to the full applicant screening process and must independently meet every published qualification standard.

a. Key differences from a guarantor

• Liability timing: A co-signer is liable from day one; a guarantor is only called upon after the primary tenant defaults.
• Document signed: A co-signer signs the lease agreement itself; a guarantor signs a separate guaranty agreement.
• Occupancy: A co-signer may or may not reside in the unit; a guarantor does not reside in the unit.
• Qualification standard: A co-signer must meet all the same income, credit, background, employment, and rental history requirements as any primary applicant — there is no reduced standard.

b. When a co-signer may be considered

• A co-signer may be considered only when the primary applicant meets all screening requirements for credit, background, rental history, and documentation, but does not fully meet the income requirement.
• A co-signer is not available to offset disqualifying items such as eviction history, bankruptcies, housing-related collections/negatives, material misrepresentations, or criminal history that is considered under the published background standard.
• Approval with a co-signer is not guaranteed and remains subject to owner/agent discretion.

c. Co-signer qualification requirements (mandatory)

• Identity: Valid government-issued photo ID (color copy).
• Income: Verifiable gross monthly income of at least 4× the monthly rent. Combined household income (co-signer + primary applicant) must still demonstrate the ability to sustain the full rent obligation.
• Employment: 24+ months of verifiable employment or self-employment history (self-employment requires 24 months of tax returns).
• Credit: Minimum credit score of 700 (strictly enforced).
• Credit disqualifiers: Housing-related collections (utilities/energy/water/landlord claims), repossessions, charge-offs, or a pattern of unpaid obligations may result in denial.
• Background: Evictions, bankruptcies, and criminal history are reviewed under the published background standard above, using the same individualized look-backs and assessments described in Section e. Items falling outside that standard, or material misrepresentations, may result in denial.
• Rental history: 24+ months of verifiable rental or mortgage payment history.
• Residency: Co-signer must reside in the United States and be reachable for verification.

d. Co-signer legal and payment terms

• The co-signer must complete a full application and pass all screening. Application fees (if any) apply.
• The co-signer signs the lease as a co-tenant and bears joint and several liability for all lease obligations — including rent, fees, damages, and legal costs — from the lease start date.
• The co-signer's liability is not contingent on the primary tenant's default. Management may pursue the co-signer directly for any unpaid obligation without first exhausting remedies against the primary tenant.
• The co-signer remains responsible for the full lease term and any extensions or renewals unless released in writing by the owner/agent.
• At lease renewal, all co-signers must re-qualify under the then-current published standards, or the lease may be non-renewed.
• The presence of a co-signer does not change payment due dates, late fee policies, or any other lease terms.

e. Important notes

• No side payments or undisclosed arrangements are permitted.
• Documentation must be complete and verifiable. Incomplete co-signer packages will not be processed.
• Carwoods reserves the right to request additional documentation to verify identity, income, and stability.

8. Pets

Pets are subject to separate approval. Restrictions may apply by type, breed, size, and quantity. Pet approval is not guaranteed even if all other criteria are met.

a. Assistance animals

Assistance animals (service animals and emotional support animals) are not pets. They are reasonable accommodations for disabilities under the Fair Housing Act. Breed, size, and species restrictions do not apply to assistance animals when properly documented. We evaluate assistance-animal requests in accordance with applicable law.

b. Prohibited animals

• Exotic animals
• Farm animals (e.g., hoofed animals, livestock)
• Saddle animals
• Reptiles
• Primates
• Fowl

c. Caged animals

• No caged animals allowed

d. Prohibited dog breeds

The following dog breeds are restricted under our published pet policy. These restrictions apply to pets only — service animals and emotional support animals (ESAs) are not pets and are exempt from breed, weight, and pet-deposit restrictions.