Reeder Management Inc
Resident Qualification Standards
Please check availability by contacting the apartment community prior to submitting your application! If you apply, and an apartment is not available, the screening fee is non-refundable.
Rental History: 6 months valid, verifiable rental history. Valid rental history is a written lease or month-to-month agreement.
If rental history is less than 6 months then an increased deposit equal to ½ months rent -OR- cosigner may be requested. Paid rental debt and/or two (2) late payments, NSF checks and/or notices within 6 months may result in an increased deposit equal to ½ months rent. Military housing will be considered as favorable rental history. Final recommendation will also be dependent on credit history and income.
Credit History: At least 2 accounts established for 1 year in good standing.
Derogatory credit history in excess of $500.00 (excluding medical debt) but less than $5000.00 may require an increased deposit equal to ½ months rent -OR- cosigner. A discharged bankruptcy may require an increased deposit equal to ½ months rent. Final recommendation will also be dependent on income and rental history.
Income: Monthly verifiable (legal) income must be equal to at least 2.75 times the rental amount.
If income is less than 2.75 times the rental amount, but more than 2.25, then an increased deposit equal to ½ months rent may be requested. Income that is less than 2.25 times the rental amount may require a qualified cosigner. Final recommendation will also be dependent on rental and credit history.
Acceptable documentation for verifiable income varies based on the income source. Generally accepted documentation may include 2 consecutive (recent) paystubs, most recent tax returns, W2, Leave & Earnings Statement (LES), Statement of Social Security Benefits, I20 (International Students), etc.
Federal, State, and local subsidies will not be considered in rent-to-income ratio.
COSIGNER QUALIFICATION CRITERIA: A cosigner will be APPROVED if all the qualification below is met, if the cosigner does not meet any 1 of the following criteria then the cosigner will not qualify.
Rental History: 1 year of valid and verifiable rental or mortgage history with no late payments.
Credit History: At least 4 accounts in good standing for 1 year with less than $100 in derogatory credit.
Any bankruptcy (open and/or discharged) will result in denial.
Employment: 12 months with current employer or previous employment in same field of work.
Income: 4 times the rental amount of the unit in verifiable, garnishable income
Denial of Application may result from the following:
Verified unpaid eviction appearing on credit report or confirmed with landlord.
Unpaid rental collection verified on credit report and/or balance owing to landlord
3 or more late payments and/or NSF checks and/or notices within a 6 month rental period (current or previous).
Derogatory credit history (excluding medical debt) in excess of $5000.00
Unverifiable social security number
Falsification of rental application
Breaking lease agreement that may result in collection filing or balance owing to a landlord.
Open (non discharged) Bankruptcy
We do not automatically deny applicants based on criminal history. Rather, criminal history is considered based on the nature of the offense and time passed since the date of final disposition (e.g. applicant was released from prison, probation or parole). We limit consideration to those convictions, the dates of final disposition of which pre-date the report by no more than seven years. Note that convictions or oustanding warrants for the following offenses may result in denial:
Murder (1st and 2nd degree) Kidnapping (All counts)
Manslaughter (1st degree) Theft (1st & 2nd degree)
Assault 1st, 2nd & 3rd degree) Burglary (1st, 2nd degree & vehicle prowling 1st degree & Residential)
Robbery (1st & 2nd degree) Malicious Mischief (1st degree)
Rape (All counts) Arson (1st, 2nd degree & Reckless Burning 1st degree)
Rape of a child (All counts) Possession with intent to Deliver illegal substance(s) (All counts)
Child molestation (All counts) Delivery or Sale of illegal substance(s) (All counts)
Any Terror Related Activity Outstanding Criminal Warrant for those offenses listed above
Criminal conviction which results in a registered sex offender requirement and/or any sex offender registry requirement.
A criminal records search will be performed for felony and misdemeanor offenses. All felony and misdemeanor offenses must be disclosed on the rental application.
Valid photo identification will be required of all applicants.
Consider this statement as notification that we accept a comprehensive reusable tenant screening report, as defined by RCW 59.18.257, like MyScreeningReport.com®