ALL APPLICANTS MUST QUALIFY UNDER EACH REQUIREMENT.
- Credit: A complete check of credit history will be made. Each applicant must have a favorable credit rating of 650 or above. No charged off accounts, collections, judgements, bankruptcies within the past 5 years will be accepted.
- Rental History: The applicant(s) must have a positive past rental reference or have previously owned a home (with mortgage in good standing). This includes no late rent payments, Unlawful Detainers, or lease violations.
- Income: A prospective tenant must meet the minimum income requirements:
1 person must have a gross monthly income of at least 3 times the monthly rent
2 persons must have a gross monthly income of at least 3.5 times the monthly rent
3 persons must have a gross monthly income of at least 4 times the monthly rent
- Criminal History: The applicant(s) must have positive criminal history. No felonies, sex crimes, drug crimes, or violent crimes will be accepted. Driving record not considered.
- Age: Must be 18 years of age to contract for lease. ALL tenants over 18 years of age MUST complete their own application, NO EXCEPTIONS. Having someone 18+ living in the rental unit without having applied or being on the lease is grounds for eviction.
- Occupancy Limits:
1 person is allowed per studio rental unit
2 persons are allowed per one-bedroom
3 persons are allowed per two-bedroom
4 persons are allowed per three-bedroom
THE APPLICATION PROCESS:
- Complete and Sign a Tenant Screening Criteria & Rental Applicant Disclosure Form and Return to Property Mgmt Dept Office: Form will be provided by Property Manager at your showing appointment and must be initialed & signed by every applicant over the age of 18. You can text photos of each page to 651.294.9444, scan and email to info@leasingstillwater.com or fax it to 651.472.5696.
- Submit Online Application with Rental History Reports for Credit & Criminal Background Check: You will receive an email invite to the online application portal with Rental History Reports. The $50.00 per tenant 18+ application fee is paid directly to RHR and is non-refundable. Their turnaround time is typically 2-3 business days.
- Submit ID & Paystubs/Income Verification: All potential tenants are required to provide via email as part of their application a copy of their government issued identification (driver’s license, state ID or passport) and their two most recent paystubs or previous year’s tax return. Landlord may require other forms of income verification, depending on the individual situation.
- Rental Verification: Rental verification will be completed directly with current landlord. Information provided by current landlord will be used to determine acceptance or denial of rental application. If potential tenant is currently a homeowner with a mortgage, a written verification of mortgage in good standing is required for the application.
- Important Notes & Deadlines for the Application Process: a. Submission of an application does not serve as a reservation of the rental unit that you are applying for. If multiple applications are received, Landlord will decide by reviewing all applications submitted for credit worthiness, income & rental history criteria listed above. Landlord will continue showing available rental units to prospective renters until an application is accepted and lease is signed. b. Timeliness in completing the online application, submitting other required information, and signing the lease is absolutely critical. Landlord will move to working with other applicants if information submission is delayed. c. All information provided on the application must be complete and correct or we will be unable to process the application. If we are unable to verify any portion or find discrepancies, this is basis for rejection. d. If the application is accepted, you will be notified by telephone, text or email and will have 24 hours to respond and confirm that you will be taking the rental unit and set up a lease signing. If the application is denied, you will receive a denial letter in the mail within two business days. e. Once you receive your lease, you have 24 HOURS to sign and return the lease and pay the security deposit. Weekends and holidays count toward the 24-hour deadline. If the lease is not signed and security deposit paid within 24 hours of your receipt, Landlord will move to working with other applicants.
- Security Deposit: The security deposit for all rental units is equal to the monthly rent amount. In the event of the applicant missing one of the rental criteria, a double Security Deposit may be used to qualify the applicant. The full security deposit is required at the time of lease signing. First month’s rent is due on the day of move-in. • The security deposit will be refunded only when tenant vacates the rental unit. Security deposit can NEVER be used for rent payment.
- Payments: All monthly rental payments must be made by electronic ACH auto-withdrawal from tenant’s checking or savings account on the first of the month, no exceptions. The full security deposit payment must be made by electronic ACH auto-withdrawal from tenant’s checking or savings account at the time of lease signing. The $150 lease administrative fee payment must be made by electronic ACH auto-withdrawal from tenant’s checking or savings account at the time of lease signing. Tenant must provide a signed e-check authorization for ACH auto-withdrawal payments.
- Lease Terms: Minimum one-year lease. After 12 months have expired, tenant may renew their lease at Landlord’s discretion. Landlord reserves the right to not renew any lease. Two full months’ (rental periods) notice to vacate required. Lease renewal options will be provided by Landlord prior to lease expiration. Month-to-month leases are not permitted.
OTHER POLICIES:
- Pets: Cats and fish (ground floor unit and two-gallon fish tank max) are the only type of pets allowed in the rental unit. For cats, a monthly pet fee, additional security deposit and a signed agreement are required for tenants to keep pets in any rental unit. Cats must be spayed or neutered with written proof provided. DOGS ARE NOT ALLOWED in any rental unit. There are NO exceptions to the no dog policy.
- Smoke-Free Properties: Wild River Realty rental units are SMOKE FREE buildings and grounds. No smoking will be allowed in rental units/balconies/garages/patios/common areas, etc.
WILD RIVER REALTY IS AN EQUAL OPPORTUNITY RESIDENTIAL LEASING PROVIDER IN COMPLIANCE WITH MINNESOTA STATUTE § 363A.09.