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The Application & Leasing Process What is your general criteria for tenants who rent a Minneapolis rental home? How many people can live in a house? Can I get a refund on the $40 application fee if I am denied or decide not to sign a lease? What personal information do you check when processing a rental application? What kind of income requirements do you have? What kind of rental history do I need to have? Can you work with me if I have bad credit? Do I have to have a minimum credit score? If I need a co-signer, how do you qualify them? What will more than likely NOT allow me to rent from Real-Time Leasing? Can I rent a Minneapolis rental house from Real-Time Leasing if I participate in Section 8? How fast will you process my application? What forms of payment do you accept? What happens if I change my mind after signing a pre-lease? How soon can I move in to my Minneapolis rental home? Who do I call for a maintenance emergency? Can I be charged for maintenance at the property? Can I get a pet after I move in to my Minneapolis rental home? |
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What is the general criteria for tenants who rent a Minneapolis rental home?
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How many people can live in a house? Although each property is different, here are some general guidelines to consider.
If you have questions, one of our Licensed Leasing Agents will be happy to guide you on what is/is not acceptable. |
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Can I get a refund on the $40 application fee if I am denied or decide not to sign a lease? No, unfortunately, once an application is processed we cannot refund the application fee. |
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If I'm going to live with a friend who rents from you, do I still have to complete an application and pay the $40 application fee? Yes! Each person over the age of 18 years of age who intends to live at the property being leased will need to submit a rental application. Each applicant will also need to produce a current picture ID in order to complete the application process. |
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What personal information do you check when processing a rental application? Our background check consists of a credit check, public record search, criminal background check, employment verification, and rental history. |
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What kind of income requirements do you have?
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What kind of rental history do I need to have? You will need to provide a rental reference which confirms a minimum of 1 year or more of valid, verifiable residence history from a third-party landlord. If you have rental history shorter than 12 months a double deposit or Co-Signer may be required. Other factors that we consider before making the final decision are credit history, employment history and income requirements. However, if you have a history of breaking leases, or have unpaid rental judgments, you will probably NOT be approved for a lease at Real-Time Leasing. Below are some additional details to help you understand how we may view your rental history:
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Can you work with me if I have bad credit? It's not uncommon that applicants have some dings on their credit report so we have to look at your overall situation. When we process your application, we check your credit but we focus more on your income verification and rental history than a perfect credit score. Never assume your past will keep you out of a great home until you have talked about your situation with an Agent at Real-Time Leasing. Below are some additional details to help you understand how we may view your credit history:
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Do I have to have a minimum credit score? Most credit scores that we accept fall within the range of 530-800. On the other hand, we are more interested in the things that created the score than the score itself. If you have a great rental history and solid income, we can work with almost anything else. Again, depending on the completed application a double deposit or Co-Signer may be required. |
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If I need a co-signer, how do you qualify them? A Cosigner will need to meet ALL of the following criteria. Also, we do not accept multiple co-signers in an effort to meet the required criteria below.
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What will more than likely NOT allow me to rent from Real-Time Leasing? A single or combined occurrence of the following:
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Can I rent a Minneapolis rental house from Real-Time Leasing if I participate in Section 8? In short, yes! If you see a house you like, be sure to check the listing details. Each Minneapolis rental home we advertise will state if Section 8 is accepted. If you do see that the house you like accepts section 8 you will be required to meet the same criteria as stated above for tenancy qualifications with the exception that income requirements apply only to your portion of the rent. Remember, it is always your responsibility to contact your Worker and verify your own specific Section 8 requirements to for residency. In some cases, we may require your Worker to verify the income/rental voucher amount for the particular property you are interested in. |
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How fast will you process my application? We have an online application process to keep things fast and simple. Once you locate the property you want, go to www.realtimeleasing.com and complete the application. We are notified as soon as you finish the application and typically get you a preliminary decision within 24 hours. In some cases, the final application approval may be contingent on hearing back from previous/present landlords, employers and other references. We will always attempt to contact previous and present landlord(s); however, it's always a good idea to give your references a heads-up that they will be receiving a call from us. Worst case, if we don't get a response from your references, it may result in our office declining your application on the basis of inability to contact the references provided During busy times of the year there may be a slight delay in giving you a preliminary decision. If you don't hear from us within 24 hours, we are probably still processing your application or waiting on call backs from references. You are always welcome to check on the status of your application if you have not received a response from us within 24 hours of submission. |
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What forms of payment do you accept?
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What happens if I change my mind after signing a pre-lease? No, unfortunately, security deposits that are paid at the time of prelease signing are non-refundable if you decide not to move forward with the lease signing. |
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How soon can I move in to my Minneapolis rental home? As soon as you get the lease signed and make your initial payment, you are free to move into your new home. We can literally have you in your new home the day your application is approved. |
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A regular Lease Agreement is typically for one year. When a Purchase Option Addendum is signed, we typically extend the Agreement to two-years. |
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Where can I find additional information or other forms and documents that I might need during my leasing term? Here are links to a variety of forms for your use during your lease term. |
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Who do I call for a maintenance emergency?
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Can I be charged for maintenance at the property? Yes, if resident damage or neglect causes the maintenance problem, you will be charged for it. |
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Can I get a pet after I move in to my Minneapolis rental home? You will need to refer to your rental agreement and check with our office. As always, please remember that you can be fined for lease violations and possibly risk eviction. If pets are allowed and you get a pet after you move-in, it is your responsibility to notify our office of this change. We will then make arrangement with you to secure the required non-refundable pet fee as follows:
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Yes. You will receive your Certificate of Rent Paid by the end of January the following year. |
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