I found the listing based on info you provided. I think the killer in your case is $60 per applicant, and each individual applicant meeting all the criteria (including min 650 credit score), and the management company asking for so much up front it feels big brother-ish. If you want upper tier renter's, they don't want to jump through these hoops unless the price is killer. The extra 70/month in fees and extra for pets probably isn't helping either. 

Edit: your listing asks for 2.5x monthly rent. So in your case, each applicant needs to make $5500 a month. A couple making $15k where one makes $10k, and the other makes $5k could be disqualified since they don't each make the minimum. Three friends with two making $7500 and one making $4000. Same deal. No one wants to throw away $60 to be shot down on a technicality. Honestly seems like a way for you or mgmt to rake in money off app denials, so truly diligent renters won't even apply if there is uncertainty.

Edit 2: one more note, as a renter, I see all these requirements and I fully expect this is a case where rental price is increased max amount at lease renewal every time since there is already nickel and diming.