PRELEASE DEPOSIT DISCLOSURE
By paying this Prelease Deposit, you are guaranteeing that you will rent this apartment (if approved) and are asking the Owner to cease efforts to rent this apartment to somebody else. Your Prelease Deposit WILL NOT BE REFUNDED, but will be retained by the Owner as Liquidated Damages if you fail to (a) complete necessary documents, (b) sign a Lease, or (c) take occupancy of the apartment. Your Prelease Deposit WILL NOT BE REFUNDED if your application is rejected because it contains false or misleading information. Your Prelease Deposit WILL BE REFUNDED (by mail within seven days) if your application is rejected for any other reason.
Resident Tenant Screening Service Disclosure. A residential tenant report will be obtained on all applicants from RHR Information Services, Inc., 7900 West 78th Street, Suite 400, Edina, MN 55433. Telephone (952) 545-3953.
Equal Housing Opportunity. Kleinman Realty Co. (KRC) is an equal housing opportunity provider. KRC does not discriminate on the basis of race, color, creed, national origin, religion, gender, age, marital status, sexual preference, familial status, status with regard to public assistance, handicap, or any other protected status. KRC will review any complaint by any applicant who feels he or she has been treated unfairly or has been subject to discrimination by a KRC agent or employee.
Application Fee. a) KRC charges each adult applicant a $45 NON-REFUNDABLE application fee. b) This fee must be submitted with the Application.
Prelease Deposit and Lease Requirement a) KRC requires a $400 Prelease Deposit. b) The Prelease Deposit must be submitted with the application and will be refunded if your application is not accepted. c) The Prelease Deposit will not be refunded, but may be retained by KRC as Liquidated Damages, if an approved applicant fails to complete necessary documents, sign a Lease, take occupancy of the apartment, or if the applicant provides any false or misleading information. d) KRC has a winter move-out policy stated under Additional Agreements on the Lease. KRC’s lease is available for review at the time of application
Income. a) The applicant(s) must have gross (before taxes) monthly income of 2.95 times the monthly rent. b) An applicant must have verifiable, reliable and predictable sources of income. c) Verification of income source(s) must be submitted with the application, or as requested by Management.
Housing History. You must provide the name and last known telephone number of each landlord/property manager/lender for each address you have had for the last two years. KRC accepts references only from independent landlords, lenders, and management companies. References from relatives or roommates will not be accepted. Failure to disclose an address of record in the last two years is grounds for denial of an application. The refusal of a prior landlord to give a reference may be a basis for denial or acceptance with conditions. Negative reference, may be grounds for denial of your application.
Credit History. Bank and credit references will be checked. An adverse credit history, any record of unpaid housing or utility debt, high debt, accounts in collection, and open or recent bankruptcy, may be grounds for rejection. Insufficient credit history alone, if all aspects of the application are positive may be a basis for approval or acceptance with conditions.
Criminal/Public Record History. Management will screen for criminal/public record history. In Minneapolis, the lookback period for the age of convictions followed is such that persons with a misdemeanor within 3 years, a felony within 7 years, or some felonies within 10 years, will be denied. An open or pending charge may be a basis for denial. An applicant that has been convicted of the illegal manufacture or distribution of a controlled substance, or that is a member of a household subject to a lifetime sex offender registration, will be denied.
Eviction History. Evictions within 3 years where a prior landlord received a judgment or a writ of recovery, or evictions within 1 year where the case was settled with no judgment or writ of recovery within 1 year before the application period may be grounds for denial of your application. Evictions that resulted in a dismissal or judgment for the applicant are not a basis for denial.
Business Relationship. The relationship between a landlord and a tenant is a business relationship. A courteous and businesslike attitude is required from both parties. KRC reserves the right to refuse rental to anyone who is verbally abusive, swears, is disrespectful, makes threats, has been drinking, is argumentative, or in general displays an attitude at the time of the apartment showing and application process that causes management to believe we would not have a positive business relationship.
Age. a) No person under 18 years of age may solely lease or take occupancy of an apartment. b) Any resident may be required to sign a Lease after reaching 18 years of age.
Identification. No Application will be accepted without a valid state-issued drivers license, state identification card or valid passport.
Occupancy Limits. Occupancy limits are necessary to promote clean, quiet and comfortable living:
a) No more than two persons may occupy a studio (efficiency) apartment;
b) No more than two persons may occupy a one-bedroom apartment;
c) No more than four persons, only two of whom may be adults, may occupy a two-bedroom apartment;
d) No more than six persons, only three of whom may be adults, may occupy a three-bedroom apartment.
False or Misleading Applications. Any false, misleading, or omitted information, on, or in connection with, an application is a basis for denial. If false, misleading, or omitted information is discovered at a later date, it is a basis to terminate or evict under any Lease signed based on misleading or incomplete information.
Exceptions/Acceptance with Conditions. Exceptions may be considered for applicants that do not have a housing history because they are first time renters, are students, or are new immigrants to this country, or due to the absence of any credit history or other income or credit reasons. Exceptions are based on the discretion of Management and will depend on the overall strength of the balance of the applicant’s application and/or the application of any cotenant, and may require the applicant to pay a higher security deposit no greater than one month’s rent. If applicant is notified of a conditional acceptance, and the requirement to pay a security deposit equal to one month’s rent, applicant will have one business day to accept the condition, or to give notice of cancellation of the application. If notice to cancel is received within one business day, the $400.00 prelease deposit will be refunded. If applicant accepts the condition and does not timely pay the additional deposit or fails to give timely notice of requested cancellation, the prelease deposit will be retained as liquidated damages for continuing to hold the unit for applicant.
Payment Due Before Moving In. a) Each approved applicant must complete payment in full of a minimum of one month’s rent and any Deposit(s) before receiving keys or moving into an apartment. (b) Any partial month’s rent charge will be due on the first full month of occupancy.
Refund Procedure. In accordance with local Ordinances, applicants are allowed to choose a method for return of the application fee if KRC either (a) accepts more than one application and fee for a rental unit, or (b) rejects the applicant for any reason not listed in the owner’s written application criteria. KRC is in compliance with these Ordinances because it does not accept more than one application and fee for a rental unit and the reasons for denial of an application are listed above. However, in the event that either should occur, please choose a method for return of your application fee, or if your application is denied and your Prelease Deposit is to be returned: (1) Mail the check to the address on the application; (2) destroy the check; or (3) hold the check for pickup by you (applicant) upon one business days’ notice. Where the application fee or prelease deposit are paid by credit card, KRC will issue a credit to the card used for the payment.
Policy Compliance and Changes. Management believes this screening criteria complies with Minnesota law and, where applicable, Municipal Ordinances as of 6/1/2020 ordinances relating to resident screening and deposits. Management reserves the right to change its rental selection criteria and rental application policy, including the amount of any required deposit, at any time without prior notice, as may be desirable for Management’s own business purposes or as might be advisable or recommended under applicable law.
PRELEASE DEPOSIT DISCLOSURE