Policies

• 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)]

• 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.

• 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.

• 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.)

• 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.

• 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.

• 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.

• 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. 

• 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.

• 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.

• 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.

• 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.

• 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.

• We will accept the first qualified applicant.

  Rental applications are processed in the order they are received. We will accept the first qualified applicant.

Dogs not allowed – Any dog with aggressive behavior toward any human or other animal. Any dog that has the appearance or being any part of the following breeds: Akita, American Pit Bull Terrier, American Bully, American Staffordshire Terrier, Chow, Doberman, Rottweiler, Staffordshire Bull Terrier, any breed considered a fighting dog, and any breed generally viewed by the public as aggressive.

Insurance Requirements for dogs - Tenant must maintain $10,000 in liability insurance for dog incidents.

The HO-4 insurance policy is designed for renters and will likely cover losses from these types of perils:

Floods and earthquakes aren't on the list. If you want coverage for floods and earthquakes, you will need to buy a separate policy or a rider.

• Tenant screening service

  Rental Research Services, Inc., 7525 Mitchell Road, Suite 301, Eden Prairie, MN 55344-1958; (800) 624-7422

• Screening fee

  There is a $55.00 per adult screening fee.

• Screening fee refunds

  The screening fee is refunded only in the following circumstances:

  • A prior applicant is accepted for the rental unit.
  • You withdraw your application before we incur any screening expenses.
  • The application is rejected for any reason that is NOT disclosed in writing, either on this page, the ad, or as part of the application.
  • Any condition where federal, state, or local law states that the landlord may not charge a screening fee.

• Apply as soon as you have a confirmed showing

  We typically have a lot of demand for our properties, so prospective tenants are encouraged to submit their rental applications online immediately after their rental showing is approved (Please do not apply before you have a confirmed showing time). Your screening fee is refundable as described above.

• Review rental agreement before applying

  Before applying, you can request a copy of all rental agreement documents to understand your responsibilities and obligations. A rental agreement is a legally binding contract, so you should understand its terms

• Action Required Upon Acceptance

  Should your application be accepted, you will be given a 48-hour window to:

  1. Sign and return all the residential rental agreement.
  2. Submit all required documents as outlined in the acceptance notification.
  3. Pay the first month's rent.

  Failure to complete these steps within the 48-hour period will be interpreted as a rejection of the offer to lease. It is crucial that both parties—Tenant and Landlord—execute the Agreement to formalize the lease.