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 applicant group at a time. Incomplete applications will not be considered until all information is received. 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, sexual orientation or gender identity.
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).
PHOTO IDENTIFICATION: All applicants over the age of 18 must provide current government issued photo identification at the time of application such as a drivers license, state-issued ID, or passport. If not attached to the electronic application the application will not be considered until provided to Reeder Asset Management in person or other means.
INCOME REQUIREMENTS: The combined monthly income of all Applicants must be at least 3 times the amount of the monthly rent. Additionally, the combined monthly income of all persons living in the rental must be a minimum 45% debt to income ratio.
EMPLOYMENT REQUIREMENTS:
- Copies of the last two consecutive payroll check stubs
- Copies of the last three consecutive bank/financial statements
- Previous W-2 or 1099
- Self-employed applicants must provide previous two years of tax returns
- 6 months history with current employer
*If your qualifications do not meet the criteria listed above, you may be considered with an additional deposit and/or an approved cosigner. See co-signer requirements below.
OTHER INCOME REQUIREMENTS: Applicants whose source of income is from a source other than employment must provide the appropriate verification such as;
- Verification of Social Security income
- Verification of disability income
- Verification of other government income
- Verification of retirement income
- Verification of trust fund income
- Current offer letter for new employment
- Financial aid and/or scholarship documentation
- Housing vouchers
*Income requirement will apply to the household’s share of the monthly rent.
*Irregular or inconsistent income such as, but not limited to, allowance from parents, scholarships, 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 of all landlords in the last five years along with all property addresses. 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.
CREDIT HISTORY: We will obtain a copy of your credit score/history from Experian. You cannot provide this to us, we will obtain this ourselves. Credit history should show that the resident has paid bills on time and does not have a history of late payments, debt “write-offs” or accounts that have gone into collection.
We require a minimum credit score of 600. Lack of Credit History is considered negative Credit History. Applicants may meet the minimum credit score, but still may be denied or required to pay an additional deposit and/or have an approved cosigner based on other screening criteria. See co-signer requirements below.
Applicants who have filed for bankruptcy within the past 2 years will be considered for approval on a case-by-case basis. Demonstrated financial responsibility since the bankruptcy filing, including stable employment and timely rent payments, may be considered.
CO-SIGNER: Co-signers should meet the following, but not limited to,
- Minimum credit score of 750 with no history of late payments, collections, or charged-off items
- Income should support the proposed rental property along with the Co-signers existing obligations
- Proof of consistent income for 2+ years
- Co-signers must reside in the state of the rental
CRIMINAL HISTORY: We abide by the rules and regulations relating to the Federal Fair Housing Act. Criminal history is evaluated as part of the application process. Since each applicant has a differing history, only after an application is completed can a determination be made. Generally, persons on any sex offender list, persons with convictions relating to distribution and/or manufacture of controlled substances, and/or persons convicted of egregious acts against persons or property will be denied. All others go through a process. We encourage all to submit an application.
MAXIMUM OCCUPANCY: A maximum of 2 people per bedroom will be allowed 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 previous landlords for the pet’s behavior
- A complete veterinary medical history (including immunizations) is provided
- An initial one-time pet administration fee is paid
- A monthly pet monitoring and maintenance fee
*The owner reserves the right to deny the application based on the size, species or breed of the pet.
APPROVAL: If you are approved, 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 canceled and other applicants may be considered and given the opportunity to sign a lease.
If you feel that you have been wrongfully denied, you can submit proof of extraordinary circumstances showing why you should be approved.