Old Academy #104

47 E 600 N

Old Academy is a very social apartment complex located next to the city library and just a few blocks south of BYU Campus! Each unit has four private bedrooms, for a total of four tenants. Each unit also has two bathrooms, a washer and dryer, a dishwasher, and central air, and the complex has a reservable clubhouse. Personal underground parking spots are $75/month and are available on a limited basis; free aboveground parking spots are first come, first serve.

The amounts listed on this page make up the rental disclosure, which is given pursuant to Utah law. This is not a contract nor is it legally binding. The final rental agreement is the binding document. The information contained on this page is valid as of today’s date; rental amounts may fluctuate based upon availability and market conditions.

You should review the lease agreement before signing. After application, if the terms of the lease are different than those disclosed on this page and you decide to not sign the lease and accept the terms listed in the lease, you may be entitled to a refund of the application fees paid. After rejection of the lease terms due to the differences or non-disclosures, you may request a refund of the application fee by emailing leasing@aspenridgemanagement.com within five business days, specifically stating the differences and the cause for such request. The request must be made as required by Utah law.

Other elective services and options may be offered that you are not required to accept. These may include but are not limited to parking, washer/dryer, pets, etc.
In addition, the rental agreement will contain fees, fines and costs related to breaches of the lease or actions taken (or not taken). These may include but are not limited to late fees, service of notice fees, eviction fees, tenant change fees, re-key fees, violation fines, and costs for damages. An example of some of these fees are listed below, but please refer to the rental agreement for all fees:

• $30 late fee if not paid by the 5th, a second $30 late fee if not paid by the 15th
• $150 Transfer Fee (the fee if you sell contract to another approved tenant)
• The Landlord shall retain a portion of the Security Deposit as a Non-Refundable Cleaning and Maintenance Fee of $15 per month of Agreement term
• $50 refresh fee deducted from deposit for each contract term

Again, the lease agreement is the binding document; if you are approved and choose to sign the lease agreement for this property you are accepting all terms, pricing, conditions, etc. listed in the legally binding lease agreement, regardless of what is listed here. All amounts listed on this page are subject to change at any time.

Rental Criteria

The following standards will be used to judge your application for tenancy. You must meet  these standards, or your application may be denied. Applicants are judged on the same standards on a first come/first serve basis, one applicant/group of applicants at a time. You will be notified as quickly as possible if other applicants are ahead of you for the requested property. If your application is not processed because an applicant ahead of you signs a lease you will be refunded the application fee (if paid), unless you would like to transfer your application to a different available property.  In order to consolidate residents in by-the-bed housing, Management reserves the right to promote groups of applicants coming together over a smaller group or single applicant, and to promote groups who have each completed an application over those who have not had all proposed roommates yet apply.

Applicants with proposed roommates may not be considered until at least ½ of all proposed roommates in your group have applied. If other full groups apply before applications are received from your full group, the other groups/applicants may be considered and given an opportunity to sign a lease. If you would like your application to be considered individually, and not as part of your group, do not list proposed roommates on your application.

If applicant is asked for any other information or documentation, or applicant needs a Co-Signer or Payment in Advance to qualify because of credit history, applicant has 12 hours to provide the requested information/applications/funds, or other groups and/or applicants may be considered and given an opportunity to sign a lease. If management notifies you something on your application disqualifies you from the property (you have pets, smoke, etc) other groups and/or applicants will be immediately considered and given the opportunity to sign a lease. If you disagree or mistakenly mark something incorrectly on your application you must notify ARM immediately, and your application may be considered again at that time if you do still qualify, and if there aren’t other applicants ahead of you. Application Fee is due at the time you submit your application; your application will not be considered until the application fee is paid. The application fee is non-refundable.

You will be notified if your application is approved, and will be sent a lease. You will typically have 24 hours from the time the lease is sent to sign the lease agreement (actual time will be listed on the email you receive with the lease agreement). If you do not sign the lease by the time listed in the email with the lease agreement, other applicants may be considered and given the opportunity to sign a lease . Spaces at a property are NOT guaranteed until a lease agreement has been signed.

Applicants Must Meet All of the Following Criteria:

$50 Non-Refundable Application Fee: Each applicant agrees to pay a $50 application fee, and consents to have a background check done. Co-signers must also pay an application fee, and give the same consent as other applicants. The application fee is completely non-refundable once management begins processing your application, and if you change your mind or fail to qualify for any reason you will not be refunded this fee.

Age: Applicants must be 18 – 30 years old at the time they apply. Exceptions can be made for applicants who are under age 18, but contract must be signed by parent or legal guardian.

Photo Identification: Each applicant must provide a photo ID.

Social Security Number: Applicants must have a U.S. social security number, or will be required to have a Co-Signer who has an U.S. social security number.

Pets: Pets are not allowed on the property. Applicants with pets will not be approved.

Smoking: Smoking is not allowed on the property. Applicants who smoke will not be approved.

Criminal History: Your application will be rejected if you have been convicted of any crime in the past five years against person or property that would present a threat to the owner, neighbors, roommates, or the rental property, as determined solely by management. Applicants on a publicly available list of offenders who are required to publish their address will be denied.

Rental History: Applicants must provide the name and contact information for their previous two 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 be denied if they have had any evictions, defaults in lease agreements, late rental payments, or if they owe any money to any other landlord.

Credit History:  Your credit must reflect that all accounts are current. All collection accounts must be “paid in full/as agreed”. Applications with past-due account(s) in collections, or accounts that are not current (charge-offs, late payments, etc) may qualify if the number of these accounts are less than ½ of the total number of accounts (or past due balances are very small). In this situation, applicant will only be considered with a Co-Signer or Payment in Advance. Applicants with NO credit history will still be considered if all other requirements are met.  Applications will be denied if you have filed for bankruptcy in the last 2 years, or if you have any bankruptcies that have not been discharged at least one year prior to the application.

All Applicants Must Also Meet at Least One of the Following Criteria:

Employment Requirements: Employment history should show the applicant has been employed for the past six months with current employer.

Income Requirements: Your income must be at least two times the monthly rent. Exceptions can be made for applicants who have sufficient cash reserves to cover rent for at least 6 months.

Co-Signer: Applicant may apply with a Co-Signer. Co-Signer must qualify according to the Co-Signer requirements.

Payment in Advance: Applicants may prepay the security deposit plus the total rent due on the contract. Payment must be made with money order, certified check, cashier checks, or other guaranteed funds. Payment must be made before the contract is signed; if contract is not signed for any reason the applicant will be refunded the security deposit and any prepaid rent (but not the application fee).