Frequently asked questions about Koreatown
What's the screening process and requirements?
We require all tenants and cosigners to apply. The application fee is $50 per person for a credit check. Tenants must have a credit score above 650, and cosigners must have a credit score over 700. Additionally, tenants must have a gross income of 2.5 times the rent, while cosigners must make 3 times the rent.
Do I need a cosigner if my income meets the requirements but my credit score is lower than 650?
Yes, you will need to have a cosigner who has a credit score over 700. But they do not need to meet the income requirements since your income qualifies. If your credit score meets the requirement but does not meet the income requirements, your cosigner needs to make 3 times the rent.
I'm an international student without a credit score. Can I still qualify?
Yes, international students are welcome! Please provide a copy of your passport, visa page, I-20, and recent bank statements. J-1 visa holders should also provide their DS-2019 form.
How long does the application process typically take?
It usually takes 1-3 business days to get approval. We will reach out to you if any additional documents are needed.
What is the move-in cost?
You will need to pay the security deposit, prorated rent (if any), and the first month's full rent on your move-in date. Security deposits are required to be paid online within 24 hours after signing the lease. If your move-in date is within 5 business days, you will need to bring the payment by cashier's check or money order.
Are utility fees included in the rent?
Utility fees are typically not included in the rent and are the responsibility of the tenant. Check with your leasing agent for the average cost of utilities for your specific unit.
What is renters insurance? Do I need to buy renters insurance?
All apartments require insurance as a way to protect your rights! The main purpose of renters insurance is to ensure that if there is a water leak, fire, etc., you will not suffer financial loss. Loss of belongings is also covered by renters insurance! When obtaining renters insurance, be sure you understand what specifically is covered by the insurance.
Are Ktown Apartments furnished?
All KTown apartments are unfurnished, so you will need to bring your own furniture. But we provide a washer and dryer, dishwasher, microwave, oven, and those essential appliances.
What are my options for paying rent, and when is payment due?
Rent is due on the first of each month, and payments should be made online via the tenant portal. In addition, payment for both rent and security deposit must be received before move-in.
How can I request maintenance or report an issue in my apartment complex?
Maintenance requests can be submitted through your online tenant portal, while urgent issues should be reported directly to our leasing office and will be taken care of immediately.
