The Arrow, Minneapolis

Guarantor Requirement

• The property requires you to provide a valid US based guarantor, but if you cannot provide one they accept third party guarantors as Applicants may qualify using one of the following options:
• Domestic Guarantor
• Self Guarantor (Applicant)
• Approved Third-Party Guarantor
• A qualifying guarantor must have a minimum annual gross income equal to 36 times the monthly rent.
• International applicants who are unable to qualify independently or provide an accepted domestic guarantor may enroll with the approved third-party guarantor service, LeapEasy, subject to the property's policy and successful enrollment.
• LeapEasy is accepted as an approved third-party guarantor option for applicants who do not have a qualifying guarantor.
• Supporting documents may include:
• Bank statement
• Income proof (pay slips)

Mode Of Payment

• Residents can conveniently make rent payments online through the property's resident portal. Accepted payment methods include Credit Card, Debit Card, Bank Transfer, Money Order, Cashier's Check, eCheck, and cash payments via MoneyGram.

Additional Fees

• Parking Fee: $199
• Pet Rent: $75 monthly
• Pet Deposit: $150 one-time nonrefundable
• Pet Registration Fee: $25 annually per pet
• Unauthorized Pet Charge: $500
• Animal-Policy Violation Fine: $50
• Community Fee: $45.00 per month (covers WiFi, internet, and valet trash)

Security Deposit

• No security deposit is required.
• You need to pay a $30 application fee and a $199 move-out service fee.

Pay In Instalment

• Payment Options: Full Payment, Quarterly Payment, Monthly Payment
• Rent Due Date: Rent is due on the 1st of each month.
• Late Payment: Late fees are incurred if rent is paid after the 4th of the month.

Cooling Off Period

• There is no cooling-off period once the lease has been signed by both the owner and the resident.
• After the lease is signed, the resident remains responsible for the rent for the full lease term unless an approved lease replacement or lease buyout is completed.

Early termination by students

• Before occupancy, residents may request a lease replacement.
• A $225 lease replacement fee applies.
• The resident remains responsible for the lease and rent until a replacement resident is secured.
• If the replacement lease is at a lower rental rate, the original resident must pay the difference in rent within 30 days.

Other cancellation policies

• If occupancy is delayed due to construction or a previous resident holding over, the resident may terminate the lease.
• Written notice of termination must be submitted within the applicable 3-day or 7-day deadline specified in the lease.
• If the termination is accepted under this provision, the refund is limited to the deposits and rent already paid.