Rental Application Guidelines

Our background check consists of collecting and reviewing the following information for Mpls/St. Paul:

Credit History

Yes, credit history is important to us, but we are more interested in the things that created the credit score than the score itself.

*Other factors that may affect the overall approval

Public Record Search

Real-Time Leasing may run a public record search through the Minnesota Judicial Branch website. Real-Time Leasing will utilize your first/last name and date of birth to access any criminal or judgment records. Any convicted crimes that appear on this document may be used as a determining factor in your acceptance or denial. For additional information, please see criminal history criteria in the next section.

Criminal History

Residency may be denied due to a criminal record; please see criminal criteria below:

Income Verification

Your NET monthly income must be a minimum of 2.5 times the monthly rent. You will be required to provide proof of income whether you are employed by a 3rd party, or self-employed.

**If an applicant has a current mortgage on his or her credit report, applicant must make 2.5x’s the rent (net income) PLUS enough to cover their mortgage.  Applicant will also be required to provide closing documents to show that their current home (with mortgage showing up on credit report) has been sold OR a lease with a current tenant showing the home is leased for a period of twelve (12) months or more.

If you are self-employed, you will need to provide the following proof of income:

**Unemployment is not an approved form of income.

If you are not self-employed you will need to provide the following proof of income:

EXCEPTION: If an applicant can demonstrate a history of successful rent payment with an income less than three ( 3 ) times the rent this will be considered an acceptable form of income verification.   This means a positive rental payment history for the last 12 months.

Rental History

You will need to provide a rental reference which confirms a minimum of 1 year or more of valid, verifiable rental history from a third-party landlord. If you have rental history shorter than 12 months a double deposit may be required. If your rental history includes: late payments, eviction(s), excessive lease violations, excessive property damage, unauthorized tenants/pets, pest infestations due to tenant negligence, improper notice to vacate, three or more late notices within a 12-month period, noise or nuisance violations, two or more NSF charges, or outstanding balance owed, you will not be approved for a lease at Real-Time Leasing.

A single or combined occurrence of the following will more than likely NOT allow me to rent from Real-Time Leasing

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