Thank you for your interest in renting a property with HOM Property Management. Please review our screening criteria carefully.
SCREENING CRITERIA
To be considered for residency, applicants must meet the screening criteria regarding income/credit/rental histories and criminal background results. There is a non-refundable $50 application fee to cover the cost of processing your application. The report provided by our tenant screening service, Rental History Reports, is reviewed and finalized by the leasing manager once the report is completed. Factors that may affect the decision include:
Income: Only verifiable sources of income will be accepted. Income-to-rent ratio is based on two (2) times the monthly rent. We use GROSS income (before taxes and other deductions) to calculate your monthly income. If your income AND credit history do not meet the requirement, it is basis for denial.
Residential History: Negative rental history (i.e. evictions, management initiated non-renewals, lease violations, paying rent on time, property damage) may result in the denial of your application. A lack of housing/rental history alone is not a basis for denial but will require a co-signer.
Credit History: Credit risk levels range from low/medium/high risk. No credit score, low credit score (below 575), negative credit (i.e. late payments, collections, charge-offs, bankruptcies) will be used to determine your credit risk level. Applicants may be considered for approval with a co-signer, based on the overall strength of the application. A credit score below 575 alone is not a basis for denial but will require a co-signer. If your income AND credit history do not meet the requirement, it is basis for denial.
Criminal History: Type and date of convicted offense(s) may result in the denial of your application. Leasing manager will consider the potential impact of your convicted offense(s) on the safety of our tenants, Management/staff, and surrounding community as well as Landlord’s participation in any crime-free/drug-free program or rental licensing requirements.
Falsification of Information: Falsification of information may result in the denial of your application or termination of your lease (if the false or misleading information is discovered after you have moved in). Additionally, per Minnesota law*, “a prospective tenant who provides materially false information on the application or omits material information requested is liable to Landlord for damages, plus a civil penalty of up to $500, civil court costs, and reasonable attorney fees.” *MN Stat. §504B.173, Subd. 4 (2023)
Business Relationship: The relationship between a landlord and tenant is a business relationship. A courteous and businesslike attitude is required from both parties. We reserve the right to refuse rental to anyone who is verbally abusive, swears, is disrespectful, makes threats, is under the influence, argumentative, or in general displays an attitude at the time of the unit showing and application process that causes management to believe we would not have a positive business relationship.
Fair Housing Statement: We are a fair housing provider. We fully comply with all federal, state and local fair housing, civil rights and equal opportunity laws.
Co-Signer Applicants: There is a non-refundable $30 application fee to cover the cost of processing your co-signer application. A co-signer is required to have a credit score of 675+ and a positive credit history. No credit score, credit score below 675, and/or negative credit (i.e. late payments, collections, charge-offs, bankruptcies) is basis for denial.
