Our Screening Policy
What we look for on your application
Subject to change without notice
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A complete application
A complete application is required for each adult (18 years of age
or older). If a line isn't filled in, or the omission explained
satisfactorily in the application, we will return the application
to you.
A prospective tenant who provides materially false information on
the application or omits material information requested is liable
to the landlord for damages, plus a civil penalty of up to $500,
civil court costs, and reasonable attorney fees. [Minn. Stat. §
504B.173, subd. 4 (2023)]
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Rental history verifiable from unbiased sources.
Your rental history must include at least two previous landlords
AND at least two years' total rental history.
If you, or anyone living in the rental the time, are related by
blood or marriage to a previous landlord listed, we will
require at least two months' additional security deposit
amount and/or payment of last month's rent.
It is your responsibility to provide us with the information
necessary to contact your past landlords. We reserve the right to
deny your application if, after making a good faith effort, we are
unable to verify your rental history.
If you owned, rather than rented, your previous home, you will
need to furnish mortgage company references and proof of title
ownership or transfer.
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Sufficient income/resources.
If the combination of your monthly personal debt, utility costs,
and rent payments will exceed 30% of your monthly income before
taxes, we will require a qualified co-signer on your rental
agreement and/or an additional security deposit amount. If the
combination exceeds 45% of your monthly income, your application
will be denied. You can use the Debt-To-Income calculator
at https://www.credit.com/calculators/dti/ to determine if your monthly personal debt, utility
costs, and rent payments will exceed 30% of your monthly income
before taxes.
We must be able to independently verify the amount and stability
of your income. (For example: through pay stubs, employer/source
contact, or tax records. If self-employed: business license, tax
records, bank records, or a list of client references.)
Some employers use a third party service, like WorkNumber, to
provide income verification. These third parties charge landlords
$60 or more per report. If your employer uses a third party to
provide employment and income verification you have to pay their
fee in advance or provide another way to independently verify the
amount and stability of your income.
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Each adult must qualify
One application shall be filled out for each adult occupant.
Each adult applicant must individually qualify on their own. We
will consider the combined income of the household and
co-applicants only if there is a verifiable obligation of support
between co-applicants (i.e. married couple, guardian and ward,
etc.)
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Maximum occupancy
The maximum allowed occupancy is two people per bedroom, and up to
four unrelated adults per unit. Some City ordinances may have
additional restrictions.
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Two pieces of I.D. must be shown.
We require a photo I.D. (a driver's license or other government
issued photo identification card) plus a second piece of I.D. as
well. Please present your I.D. with your completed application or
at other such time as directed by Lotts Properties.
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False information is grounds for denial.
You will be denied rental if you misrepresent any information on
the application. If misrepresentations are found after a rental
agreement is signed, your rental agreement will be terminated.
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Criminal convictions for certain types of crimes will result in
denial of your application.
You will be denied rental if, in the last 5 years (or longer for
certain convictions), you have had a conviction for any type of
crime that would be considered a serious threat to real property
or to other residents' peaceful enjoyment of the premises,
including the manufacture or distribution of controlled
substances.
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Certain court judgments against you may result in denial of
your application.
If, in the last 5 years, you have been through a court ordered
eviction, or had any judgment against you for financial
delinquency, your application will be denied. This restriction may
be waived if there is no more than one instance, the circumstances
can be justified, and you provide a qualified co-signer on your
rental agreement and/or an additional security deposit amount.
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Poor credit record (overdue accounts) may result in denial of
your application.
Occasional credit records showing payments within 30 to 60 days
past due may be acceptable, provided you can justify the
circumstances.
Records showing a credit score below 650 and/or payments 90
days past due are not acceptable.
Records showing a credit score between 650 and 699 will
require at least two months additional security deposit and/or
payment of the last month's rent.
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Poor references from previous landlords may result in denial of
your application.
You will be turned down if a previous landlord would be
disinclined to rent to you again because of late payment or
non-payment of rent or for any reason pertaining to
any lease-violating behavior of yourself, your pets, or
others allowed on the property during your tenancy.
Also, you will be turned down if previous landlords report
significant complaint levels of noncompliance activity such
as repeated disturbance of the neighbors' peace; reports of
prostitution, drug dealing or drug manufacturing, damage to the
property beyond normal wear; reports of violence or threats to
landlords or neighbors; allowing persons not on the lease to
reside on the premises; failure to give proper notice when
vacating the property.
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There is a $55.00 per adult screening fee.
If you withdraw your application
before we have incurred any screening
expenses we will refund your application fee.
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Rent and other payments via ACH
Monthly rent and other payments will be collected by automatic
withdrawal from Checking or Savings account on the 1st of each
month. Refusal to pay via ACH will result in your application
being denied.
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We will accept the first qualified applicant.
Rental applications are processed in the order they are received.
We will accept the first qualified applicant.