1. Statement of Rental Policy
2. Application Policy

All persons will be treated fairly and equally without regard to race, color, religion, sex, familial status, handicap, or national origin in compliance with the fair housing act.

2. Availability: based on availability of specific apartments. Apartments will not be held for prospective resident without a background check and a non-refundable hold deposit.

3. Income: monthly rent shall not exceed more than 35% of gross monthly income, unless tenant can show other ability to pay the monthly rent. Allowances from parents, scholarships, study subsidies, and/or inconsistent income such as alimony, commissions, or tips will require written verification.

4. Application: to be completed by each adult applicant without omissions or falsifications. Any false information given on the rental application can void the lease agreement.

5. Credit check: a complete check of credit history and application will be made. Residence - present and previous residence must have prompt payment record and sufficient notice given. Credit bureau - applicant must have a satisfactory credit bureau rating. Application fee - an application fee must be paid by applicant (to those properties charging such a fee) before verification of information can be done. The application fee is non-refundable whether the prospective tenant leases the apartment or not. Income verification - it is applicant's responsibility to provide check stubs or other documents to verify income.

6. Occupancy: no more than 1 (one) person in an efficiency apartment.

1. 2 (two) persons in a one-bedroom apartment.
2. 4 (four) persons in a two-bedroom apartment.
3. 6 (six) persons in a three-bedroom apartment.
4. 8 (eight) persons in a four-bedroom apartment.
   

Pregnancy: every family member, regardless of age will be counted as a person. An unborn child will be counted as a person for occupancy.

7. Vehicles: IMM reserves the right to limit the number of vehicles on a property.

Applicant understands that parking on city streets is not a viable alternative. IMM will not be responsible for towing charges incurred while parking on city streets.

We also do not allow major maintenance, changing of oil or washing vehicles in our parking lot without express consent of the manager. Boats, trailers or recreational vehicles are not allowed in the parking lot. Resident must find other means of storage.

8. Waterbeds: waterbeds are allowed, but should any damage occur to the building or other residents property, the owner of the bed will be held responsible for any damages and can be subjected to litigation. Renters insurance, although not require ...... "is strongly recommended".

9. Rental payment: the monthly rent is due on or before the first of the month. There will be a late charge penalty of $25.00 any time the rent is not paid by the third (3rd) of the month. An additional assessment of $2.00 per day will be added after 4th of the month until paid. All returned checks will be assessed an $18.00 service charge plus applicable late charges.

10. Pets: as a company policy we do not allow any dogs, cats, or other animals that are not caged in any of our properties. Caged birds, if they do not disturb other occupants and fish are acceptable, but the resident is responsible for any damages associated with such pets (i.e. leaking aquarium). The exception to this a service animal - a service animal is as described by fair housing: a service animal is an animal required by a tenant with a disability to live independently (i.e. seeing eye dog, etc.). A written request from a medical practitioner is required stating that a service animal is required by the tenant to live independently. Service animal must remain leashed at all times, allowed inside only in resident's apartment and outside where management so designates. Tenant is responsible for the clean up of any mess left by the service animal.

• APPLICATION FEE -- The amount the applicant is required to pay is to be determined by the property and is non-refundable as it relates to the costs associated with checking income, credit, housing and /or other references.
• SCREENING -- It shall be required of applicant to furnish proof upon request by the lessor of any statement made on application.
• REFERENCES -- IMM reserves the right to check all prospective residents credit, previous rental history and income references, to determine if the prospect is qualified to lease the apartment.
• OFFER -- Offer to rent will be based on the first valid tenant application received that satisfies all screening criteria and when the applicant furnishes lessor the required security deposit per apartment.
• REJECTION -- An applicant may be denied housing for the following reasons:

1. Applicant is guilty of fraud or other crime
2. Applicant is delinquent in child support payments
3. Applicant lacks the financial resources to reasonably afford housing; not more than 35% of ones gross income should be allowed for housing expense, this is generally accepted as normal in most cases.
4. Applicants credit or housing references make applicant a significant credit, safety or property risk
5. Lessee (person signing lease) must be of majority age (18 in North Dakota) in order to lease an apartment, unless co-signed by parent or guardian.
   

OPTION: non-approved applications may be considered for acceptance with a quality co-signer or guarantor.

It shall be Investors Management & Marketings policy to pull a credit report on all prospective tenants.

CREDIT CRITERIA:

1. It is also our policy that we will not lease to persons whos current manner of payment on any account is more than 60 days late (i.e. i3, r3).
2. If the manner of payment above is for accounts that are more than 3 years old and all accounts have been satisfactory (not more 60 day s late i3/r3) since that time, we may lease to the prospect.
3. Bankruptcy:
   
   1. To approve applicant with bankruptcy, it must be 3 or more years old
   2. No more than 30 days late since the time of bankruptcy
   3. No collections or judgments since the time of bankruptcy
      
   4. Consideration will be given on the type and reason for bankruptcy.
   5. Based on the previous statement, IMM may allow applicant the option of co-signer/guarantor
      1. 7 personal or sole proprietor
      2. 11 wage earner plan (business reorganization)
      3. 12 farm reorganization plan
      4. 13 individual/personal reorganization
4. All adverse medical accounts will be forgiven.
5. Collections & judgments:
   1. All paid collection and judgments will be considered satisfactory if all other accounts are satisfactory
   2. Unpaid collections and judgments may be considered for the option of co-signer/guarantor
6. Any adverse rental history report will be denied.
   1. Questions to be asked of former landlords will be:
      1. Was there damage to the property?
      2. Did they pay the rent on time?
      3. Would you rent to them again?

IMM complies with equal housing opportunity.