(435) 755-8689 (Logan) - (801) 828-8944 (Ogden) - (435) 734-1085 (Brigham City) - (801) 828-8944 (Salt Lake)

Rental Criteria

The following standards will be used by Reeder Asset Management to judge your application for tenancy. You must meet the following standards to qualify to sign a rental agreement with us. Applicants are judged on the same standards on a first come/first serve basis, one person or family at a time. Incomplete applications will not be considered until all information is received, which includes but not limited to: copy of drivers licenses, income verification, etc. Also, applications will not be considered until all adults older than 18 years old have applied including any Co-signers. Any incorrect or inconsistencies on the application will result in an automatic denial of the application. We are a professional property management company and we are committed to offering equal housing opportunities. We do not discriminate against anyone on the basis of race, color, religion, sex, handicap, family status, source of income, national origin, or gender identity.

 

$40 NON-REFUNDABLE APPLICATION FEE: Each applicant over the age of 18 must pay an application fee and consent to have a credit and background check done on them. Co-signers must also pay an application fee and give the same consent as other applicants.  There are no exceptions so please review your application carefully to ensure that it is complete to the best of your knowledge and that you meet the rental criteria as stated.  Any false information found is an immediate denial of application or lease (if lease has been signed). Any application may be an immediate denial for felony crimes.

 

SECURITY DEPOSIT: Applicants may be required to provide a check for the full amount of the security deposit (including any additional deposit amounts for pets or other reasons) for the application to be considered complete. The deposit will be returned if the application is denied.

 

PHOTO IDENTIFICATION: All applicants over the age of 18 must provide current government issued photo identification at the time of application. If not attached to the electronic application the application will not be considered until provided to Reeder Asset Management in person or other means.

 

EMPLOYMENT REQUIREMENTS: Employment history should show that the applicant has been employed with their current employer for at least 6 months. Exceptions can be made for recent graduates who provide proof of graduation, current students who provide proof of enrollment, and self-employed applicants who provide a CPA – prepared financial statement or most recent tax return. Applicants with less than 6 months of employment with current employer may be approved if they pay an additional security deposit or have an approved co-signer and provide proof that they have been employed with their current employer for 2 months or were employed with their previous employer for at least 6 months if previous employment was the same industry as current employer. All employment history must be verified by the employers Human Resource Department and/or contacting the employer directly.

 

INCOME REQUIREMENTS: The combined income of all persons living in the rental must be a minimum three times the monthly rent.  Applicants who do not have the requisite income may be considered if they provide a co-signer or provide proof of cash reserves equal to at least 12 times the monthly rent. The applicant must provide proof of income with one of the following, but not limited to, paystubs, tax returns, offer letter from new employer and other proof regarded as acceptable upon submission to Reeder Asset Management.  Irregular or inconsistent income such as, but not limited to, allowance from parents, scholarships, and student subsides, commissions or tips may not be considered as verifiable income.  Child support and/or alimony may not be considered verifiable income unless pursuant to a Court Order.

 

RENTAL HISTORY: Applicants must provide the name and contact information for their previous landlords, or all landlords in the last five years. Applicants must also provide all of the addresses they have lived at for the last five years. Applicants may not be approved if they have had any evictions, defaults in lease agreements, late rental payments, NSF (Non Sufficient Funds) payments to previous landlords, or if they owe any money to any other landlord.

 

In the event there is no verifiable rental history (for instance just moving out of parent’s house for the first time), applicants may be considered to rent if the following is met, but not limited to, sufficient credit history (see Credit History on this page), co-signer (see Co-Signer on this page), and additional month(s) rent and/or additional deposit(s).

 

CREDIT HISTORY: A negative credit history is grounds for denial of application. Some issues would be as follows but not limited to; Applicants will be denied if applicant has filed for bankruptcy in the last 5 (five) years, or if any bankruptcies that has not been discharged at least 5 (five) years prior to the application and sufficient credit history has been reestablished. Co-signers may be considered. Applicants may be considered with collections on credit history if the collection accounts have been “paid in full” or “paid as agreed” and good credit history has once again been established.  Applicants with past due accounts or accounts in collections may be considered if they pay an additional security deposit or have an approved co-signer and must have other good application references (job, landlord, etc.). Applicants with open collection accounts to utilities, telephone, cable, etc. will be denied. Applicants with trade lines currently in default (30 or more days late) will be denied without exception.  An applicant will be denied with judgments filed and outstanding debts owed. An applicant with a credit score less than 600 is automatic grounds for denial unless, and not limited to, other Rental Criteria comes back as exceptional, pay additional deposit/prepaid rents, Co-Signer, etc.

 

No Credit History is considered negative Credit History and can be denied as such. Again these may be considered with other Rental Criteria coming back as exceptional, pay additional deposit/prepaid rents, Co-Signer, etc.

 

CO-SIGNER: A co-signer can be an alternate way of being approved to rent a property from Reeder Asset Management.  co-signers should meet the following, but not limited to, excellent credit history (this means the history is well established with most trade lines established for 5 years or longer, no late payments, no collections and has at a minimum of a 750 credit score), income to support the proposed rental property along with co-signers existing obligations, established employment, etc. 

 

CRIMINAL HISTORY: Your application will be rejected for any of the following; if you or any member of the household has been convicted in the last 7 years of any crime against person or property that would present a threat to the owners or neighbors, or the rental property; any conviction for the distribution or manufacturing of any controlled substance; any conviction for involvement in the illegal use or possession of a controlled substance.

 

MAXIMUM OCCUPANCY: A maximum of 2 people /1 bedroom, 4 people/ 2 bedrooms, 6 people/3 bedroom, 8 people/4 bedroom, 10 people/5 bedroom or as dedicated by city ordinance. (For example a city ordinance that does not allow more than a certain number of unrelated people in the same dwelling to live together.)

 

PETS: Pets may be approved if they meet the following requirements: a good reference from the previous landlord for the pet’s behavior, a complete veterinary medical history (including immunizations and sterilization) is provided, an additional pet deposit/pet administration fee is paid and an additional amount of “pet rent” is agreed upon. The owner reserves the right to deny the application based on the size, species or breed of the pet.

 

APPROVAL: If your application is approved you will be notified. You will have up to 24 hours from the notification of your approval to sign a lease agreement. If you do not, the lease may be cancelled and other applicants may be considered and given the opportunity to sign a lease.

 

Updated Feb-2016 V2.0