First-Time Renter Guide

Renting for the first time comes with a learning curve. Here’s what to know going in, plus specifics on how the process works if you’re applying with Davis Ventures.

Budget for more than just rent

Beyond monthly rent, plan for:

• A security deposit, typically equal to one month’s rent, due before move-in
• An application fee, if one applies (see below)
• Utilities, if they’re not included in rent — ask specifically which ones you’ll be responsible for
• Renter’s insurance, which is inexpensive but not automatic — it protects your belongings in ways your landlord’s insurance does not

Know what a landlord can and can’t ask

Landlords can reasonably ask about your income, rental history, employment, and consent to a background/credit check as part of screening. Under the federal Fair Housing Act, landlords cannot discriminate based on race, color, national origin, religion, sex, familial status, or disability. Minnesota law provides additional protections and requirements — the Minnesota Attorney General’s Landlord and Tenant Rights and Responsibilities Handbook is a genuinely useful, free resource covering this in detail.

How Davis Ventures’ application process works

Our process is split into two stages, specifically so you don’t have to hand over sensitive information (like your Social Security Number) unless your application is actually moving forward:

1. Part 1 — Initial Information. Contact info, address and employment history, proposed occupants, vehicles, and an emergency contact. This part is free and does not require your SSN/ITIN.
2. Review. We review Part 1 against our published rental criteria.
3. Invitation, if applicable. If your application moves forward, you’re invited to Part 2.
4. Part 2 — Screening & Authorization. This is done in person, not through the website. It covers your SSN or ITIN (Minnesota law allows an ITIN in place of an SSN — see Minn. Stat. § 504B.117), a $50 per-person application fee (credited toward your first month’s rent if you’re selected), and your written authorization for a background/credit/rental-history check.
5. Decision. Approved, conditionally approved, denied, or a request for more information — always with a documented reason.

Submitting Part 1 doesn’t guarantee approval or a rental offer — it starts the process.

Before you sign a lease

• Read the entire lease, including any addenda, before signing — not just the pages that get highlighted for you.
• Ask about anything unclear, especially around pet policies, guest limits, subletting, and what counts as normal wear versus damage.
• Do a documented walkthrough at move-in — see our Move-In Checklist for the full process.
• Know your notice requirements for moving out well before you need them — most leases require 30-60 days’ written notice.

Ready to apply?

You can start a rental application directly, or see current availability first if you haven’t already found a listing.