52 Groveland Ter #A312-312

Lease terms

LEASE TERMS AND GUIDELINES LEASE DETAILS Included in your monthly rent are Comcast Xfinity cable, high-speed internet, heating, water, sewer, and garbage services. The renter is only responsible for the Xcel Energy electricity bill. If your application is approved, a security deposit equal to one-month of rent and a signed lease agreement are required to secure the unit. Minimum lease term is 12 months per HOA by-laws. HOA REQUIREMENTS AND FEES To move in, the HOA requires a one-time administrative fee of $250 for building registration, fob activation, and mail setup. $20 fee per parking sticker, if applicable. The renter will also be required to sign an agreement to adhere to HOA and community rules. These rules will be provided to prospective applicants upon request or before the lease is confirmed. LATE FEES AND PENALTIES Rent is due on the first day of each month. In compliance with Minnesota law, an 8 percent late fee will apply if rent is not received by the 5th of the month. NON-SMOKING POLICY This property has a strict non-smoking policy inside the unit, on the private balcony, and across all common areas of the complex. A designated outdoor smoking area is located on Groveland Terrace, away from the buildings. Smoking violations are subject to HOA fines. PET POLICY Both cats and dogs are welcome in this pet-friendly unit, requiring a fully refundable $500 pet deposit and formal pet registration with the complex management. APPLICATION AND BACKGROUND SCREENING All rental applicants must complete screening through First Service Residential, the HOA's approved vendor. This screening includes a background check, standard rental history check, and a financial check. The fee is $78 per resident and is non-refundable once processed. No other third-party screening reports can be accepted. FINANCIAL AND INCOME STANDARDS Applicants must demonstrate a gross monthly income of at least 3 times the monthly rent ($5,085 for base rent or $5,685 for the full package) and a stable financial history. In accordance with local ordinances, an exception may be available through an individualized assessment. GUARANTOR (BACKER/CO-SIGNER) REQUIREMENTS A Guarantor may be utilized if an applicant does not meet standard income or financial history requirements. A Guarantor acts as a Backer and must be willing to pay rent on time if the renter is ever unable to meet payments. To qualify, the Backer must submit a separate application, pay the screening fee, and demonstrate financial stability. This proof may include verified income (typically 4 times the monthly rent), significant savings, and/or evidence of home-ownership and property assets. FAIR HOUSING COMPLIANCE All screenings follow the Minneapolis Renter Protection Ordinance and Federal Fair Housing laws. For complete details on renter laws and protections, please visit the City of Minneapolis Property Housing website - Minneapolis MN Renters Guide.