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Commercial Investment Properties logo -- CIP Apartments and Town Homes
Commercial Investment Properties logo -- CIP Apartments and Town Homes

Minnesota Rental Application Criteria



(Excluding Minneapolis)

Version 11.01.24

All applications for residency will be processed through a credit reporting agency. All adults 18 years of age or older must complete and sign an application. Roommate and spouse applications will be scored together.

CIP Communities provides an equal housing opportunity and abides by federal and local laws and requirements. We do not discriminate on the basis of race, color, national origin, religion, sex (including gender identity and sexual orientation), familial status, and disability.

CREDIT

Applicant(s) must have good credit history which shows on a credit report from our tenant screening provider, RentGrow. If applicant(s) report shows unsatisfactory credit, (i) applicant(s) may provide a qualified guarantor/cosigner for the lease that meets all of the guarantor/cosigner requirements** or (ii) applicant(s) may pay their last month of rent at time of move in with certified funds. Unsatisfactory items may include: no established credit, outstanding collections, charge-offs, judgements, foreclosures, open bankruptcy, repossession, etc. within the past 4 years.

RENTAL HISTORY/RESIDENCE

Any applicants with unfavorable payment history of rent or utilities, record of unacceptable behavior, poor housekeeping, or destruction of property may be denied. Current resident(s) of CIP Communities with three (3) or more late payments in the last six (6) months will be required to pay a deposit equal to one month of rent as well as the last month of rent for the lease term.

  • Any applicant(s) involved in an eviction that has resulted in a writ of recovery and an order to vacate in the past 24 months will be denied.
  • Any balance(s) owed to current or past landlords must be paid in full no matter how old the balance may be.

INCOME

Applicant(s) combined monthly income while residing with CIP Communities must exceed 3 times the monthly rent for the unit. Applicant(s) must provide their two (2) most recent consecutive paystubs or provide proof of at least 3 times rent times the lease term in an account (savings, CDs, mutual funds, money markets, 401k, etc.). Proof of current student loans, scholarships, stipends or grants from a college or university are accepted. A copy of documents such as I-20, F-1, J-1 may be used if applicant(s) are moving from out of the United States. If applicant(s) does not meet the income requirement, (i) applicant(s) may provide a qualified guarantor/cosigner for the lease that meets all of the guarantor/cosigner requirements** or (ii) applicant(s) may pay their last month of rent at time of move in with certified funds.

CRIMINAL OFFENSES

A detailed criminal background check will be performed on all applicant(s) 18 years and older to review for certain felony offenses with discharge dates within the last 7 years. Items include, but are not limited to; terroristic threats, property or personal safety related crimes, drug related crimes. All Registered Sex Offenders will automatically be denied. Anyone charged with arson (misdemeanor or felony) will be denied. Applicants criminal history will be determined on a case-by-case basis and may result in a denial.

IDENTIFICATION REQUIREMENTS

A government issued photo ID is required to live at all CIP Communities. Prior to issuing any keys at move in, CIP Communities requires to make a copy of each leaseholders physical photo ID, and this copy will be retained in the resident file.

**GUARANTY/COSIGNER REQUIREMENTS

Guaranty must be over the age of 18, be a United States Citizen. Guaranty must have established good credit which shows on a report from our tenant screening provider, RentGrow. Within the last year, Guaranty must have at least 6 months of verifiable, good rental history from an unbiased source or have home ownership. Income must exceed 5 times the applicants share of rent and provide proof of the income. Owning a home is considered as income when verified that guarantor owns the property.