While processing your application, we will confirm that you meet specific requirements, outlined below. If you don’t meet these requirements, approval may still be possible at a lower threshold with a co-signer.

Income

To be approved for an apartment, please provide proof of income equal to at least 2.5 times the rental rate of the apartment you’re interested in. If you have a roommate, your incomes will be combined. For example, if the rent is $1,000 per month, a total income of at least $2,500 per month would be expected.

There are no income requirements when applying with a co-signer.

Credit Score

To be approved for an apartment, your credit score should be at least 680. If you have roommates, your scores will be averaged.

If applying with a co-signer, you may qualify with no credit history or a credit score as low as 650.

Criminal record and sex offender check

A criminal record and sex offender check will be conducted for all applicants, whether applying alone or with a co-signer.

Income

To be approved as a co-signer, please provide proof of income equal to at least three times the monthly rental rate.

Credit score

To be approved as a co-signer, a credit score of at least 700 is required.

If you are the first to submit a holding deposit equal to one month’s rent along with any necessary application(s), the apartment will be reserved for you.

If your application is not approved, the deposit will be fully refunded. However, application fees cover the cost of processing background and credit checks and are non-refundable.

You can submit a deposit through Zelle by calling us at (207) 522-0917 or by mailing or dropping off a check at:

Lotus Management
132 Chadwick Street,
Portland, ME 04102

Your apartment will be held once we receive your check or Zelle transfer.

Note: We are not able to accept cash as a deposit.