Listed below are acceptable types of verification of your income and assets. This verification is a requirement of the Department of Housing and Urban Development (HUD) and will be used to determine eligibility as well as the amount of rent you would pay for your apartment. You will only need one type of verification for each income source or asset you receive or own.
Types of Income
Employment Income
- Employment verification form completed by the employer.
- Check stubs or earning statements showing employee’s gross pay per pay period and the frequency of pay.
- W-2 forms if same job has been held for two years or more.
- Notarized statements or income tax returns signed by the applicant describing self-employment and amount of income.
Social Security, Pensions, SSI, Disability
- Benefit verification form completed by agency providing benefits.
- Benefit letter from the agency providing benefits which states amount of benefits/checks (most recent).
Alimony
- Copy of separation or settlement agreement or divorce decree stating amount and type of support and payment schedules.
- A letter from person paying support.
- Copy of latest check.
- Applicant’s notarized statement of amount received and likelihood of future payments.
Dividends from Stocks/Investments
- Letter from brokerage or investment company which states amount and frequency of dividends to be paid.
- Applicant’s notarized statement of amount and frequency paid in the past year.
Recurring Gifts
- Notarized statement signed by the person providing you with extra cash. Must give the purpose, dates and amount of monies given.
- Applicant’s notarized statement which provides information in #1.
If you receive income from a business, please contact apartment personnel for acceptable types of verification.
- Elderwood Apartments – 912-367-9555
- Terrace Garden Apartments – 912-283-6740
Types of Assets
Checking Account
- Monthly statements received in the past six (6) months.
- Statement from the bank of average account balance over the past six (6) months.
- Applicant’s statement of average account balance and one monthly bank statement.
Savings Account
- Statement or book showing current balance.
Stocks, Bonds, Certificate, Money Markets, Individual Retirement and Keogh Accounts
- Statement to verify value and any interest or dividends.
Retirement and Pension Funds
- Statement verifying whether benefits are to be paid in a lump sum or in periodic payments.
Personal Property Held as Investments
(i.e. Property held to later sell at a profit, not to include personal jewelry)
- Statement verifying value of assets.
Equity in Rental Property or Other Capital Investments
- Statement verifying current market value less:
(a) any unpaid balance on loans secured by the property; and
(b) reasonable costs that would be incurred in selling the asset-penalties, broker fees, etc.
Trusts
- Statement verifying the principal value of any trusts available to your household.
If you have disposed of any assets within two years before your application date, please contact the apartment personnel for further instructions
- Elderwood Apartments – 912-367-9555
- Terrace Garden Apartments – 912-283-6740
Medical Expenses
Any medical expense that re-occurs on a regular basis and is not covered by Medicare, Medicaid or private insurance will be accepted for deduction from rent. This includes:
- Doctor Bills
- Hospital Bills
- Prescription Medicines
- Health or Hospital Insurance Premiums
- Handicapped Expenses
- Over the Counter Medications
Medical expenses will be accepted upon initial certification and recertifications only, unless when under financial strain.
A letter verifying medical expenses will be signed by applicant or tenant when certifying. Also, applicant/tenant must report or provide amounts that insurance, Medicare and/or Medicaid has reimbursed for any claimed medical expenses.
IMPORTANT
Person must provide ALL information needed.
Anyone who does not supply accurate information will be subject to a $10,000 fine, five years imprisonment or termination of tenancy.
