Thank you for your interest in renting a property with HOM Property Management. Please review our screening criteria carefully before proceeding.
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, including but not limited to pay stubs, job offer letters, Social Security Income (SSI) documentation, disability income verification, child support documentation, and pension or retirement income statements. The income-to-rent requirement is a minimum of two (2) times the monthly rent. Gross income (before taxes and other deductions) will be used to calculate monthly income. Failure to meet both the income requirement and credit criteria will result in denial of the application.
Residential History: Applicants must have at least twelve (12) months of rental history with one landlord within the past three (3) years at the time of application. A lack of housing/rental history alone is not a basis for denial but will require a qualified co-signer. Applicants with mortgages must provide the most recent twelve (12) months of positive mortgage payment history. Negative rental history, including evictions, lease violations, poor payment history, property damage, or management-initiated non-renewals, may result in denial. Applicants owing $350 or more to a current or former landlord will be denied; balances under $350 must be paid in full before the applicant may qualify with a co-signer. Applicants with housing-related collections (including rent, utilities, or property damage accounts) will be denied.
Credit History: Credit history is evaluated based on factors including credit score, late payments, collections, charge-offs, judgments, garnishments, and/or foreclosures. A credit score below 575 or lack of credit history alone is not a basis for denial but would require a qualified co-signer. Applicants with bankruptcies (active or discharged within the past seven (7) years), housing-related collections (including rent, utilities, or property damage accounts), or delinquent debt totaling $3,500 or more will be denied. Delinquent debt under $3,500 may be considered with a qualified co-signer. Applicants may also be denied based on overall credit profile, even if individual criteria are met. Failure to meet both the income requirement and credit criteria will result in denial of the application.
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. Please note, a co-signer is only an option if specifically permitted based on application eligibility requirements and may not always be available, including in cases where an application is fully denied.
Important Notes: For properties available for immediate move-in, the requested move-in date on your application must be within 30 days of the application date. - For leases starting between the 15th and the last day of the month, the prorated rent for the first month and the full rent for the following month are due at move-in. - Lease start dates may not fall on a Saturday, Sunday, or recognized holiday, except when the start date is the first day of the month. - The full security deposit amount is due at lease signing. No partial deposits or deposit payment plans will be accepted.
