Information On Renting at Everlake

Here at Everlake, we charge $125/month for a spot in our heated, reserved garage which is directly attached. We do have electric plug-in options for $200/month, and select tandem options for $200/month. Our parking is month-to-month, so not built into a traditional lease term, giving you the flexibility to change your mind - a rare find!

There is a one-time $300 upfront pet fee, due at move in. There is pet rent, as well - $50 for dogs and $35 for cats, per pet. We are proud to be pet-friendly in all of our apartments! We allow two pets total per apartment, and PetScreening is required prior to move in for all animals. 

We do not have any weight or breed restrictions for dogs!

To secure your new home, a $60 Application Fee and a $150 Administrative Fee are required. After signing your lease, a $500 Security Deposit will be due for fully approved applicants (but can range up to 1 month as a deposit, for conditionally approved applicants). 

The deposit is held through the entirety of the lease and is refundable upon move-out. The Application and Administrative Fees are non-refundable.

1. All occupants 18 & above must full out an application. 
2. Everlake requires a combined monthly income of 2.5X the rent, in gross income, to qualify. 
   • Co-signers (see below) must make 5X the rent, in gross income. 
3. All applicants are screened for: income, rental, credit history, and background. 
   • A lack of rental history and/or credit history is not grounds for immediate disqualification. 
   • A co-signer can be used to help supplement income and/or credit. 
   • Screening decisions are not based on one factor, or a credit score. 
4. Rental & employment verifications do occur.
   • Any utility or rental collection debt can be grounds for a disqualification. 
      

Income documentation that can be used: 

1.  2 most recent paystubs
2. 3 most recent full bank statements
3. Tax returns from the most recent year
4. A fully executed offer letter in which the position has not started yet
5. Legalized documents outlining benefits, Social Security, disability payments, alimony or other court-ordered regular income, and military pay
6. Bank documents outlining retirement benefits or annuities

Occupancy Limits

• Studio - 2 max residents
• One Bedroom - 2 max residents
• Two Bedroom - 4 max residents 

A resident is defined as a person 2 years or older. 

Everlake participates in the 4-D housing program in Minneapolis / Hennepin County. These are specific apartments capped in both rental pricing & renewal increases by the city, and there are income maximums an applicant can make on these to qualify which is based on total household size. 

• These apartments are designated with a '-4D' after the apartment number, online. 

Income Maximums for a 4-D Apartment

• 1 Person - $55,620
• 2 People - $63,600
• 3 People - $71,520
• 4 People - $79,440
   

All other rental qualifications apply to these apartments, including application/admin fees to apply. Applicants must prove at least 2.5X the rent, in gross income, to qualify. 

• A voucher or other housing assistance program can be used on these apartments, but income qualifications remain the same. Example - if a voucher is $1500 and rent is $1500, applicants must prove they make $2,250 per month in income outside of that voucher. 

Full time students are not eligible for this type of housing.