Application Approval Criteria
All applicants are required to meet established criteria to be considered for residency.
This criterion is fairly and consistently applied to each prospective resident that applies to rent any property.
The term “applicant(s)” under these criteria means the person that will be signing the lease as a “resident/tenant”.
The term “occupant(s)” in these criteria means the person or persons that are authorized occupants under the lease. Please also note that Pioneer Property Management has established these criteria as a way of ensuring that each resident and occupant has the same opportunity to enjoy their home and the amenities that the community may provide.
No Co-Signers
Co-Signers will not be considered to fulfill any qualification requirement.
No Sight Unseen Leases
At least one applicant must physically view the residence before an application is accepted.
Application for Residency
Each applicant must be at least 18 years of age and complete a rental application fully and accurately.
Occupants
Two residents per sleeping area plus one additional person are allowed in each rental home. No more than 3 unrelated parties are allowed. Anyone 18 years of age or older will be required to sign the lease.
Identification
Each application must provide two of the following forms of identification in order for the verification process to begin: Government Issued Photo ID, valid Social Security number, a Passport or Alien Registration Card.
Verifiable Gross Income
Total gross income of at least 2X monthly charges for an individual applicant. For applications with more than one unrelated applicant over the age of 18, each applicant must qualify separately with an income of at least 1.5X monthly charges per applicant. You will need to submit proof of income at the time of application submission.
Proof of Income:
- Employees – Three current paycheck stubs or offer letter on company letterhead + three paycheck stubs from prior employer.
- Self-employed – Previous 2 year’s tax returns with confirmation of filing with the IRS.
- Other – Applicant(s) that are retired, or have other verifiable income must provide proof of income and/or assets that equal 3 times the total contractual amount of the Rental Agreement.
Credit History
640+ Credit Score (Provided by Experian) and record of paying your debts on time. If the Experian score is reported as ‘Not Available’ (NA), the application will be declined.*
Applicants must have a credit report that reflects a positive payment history for all accounts.
Bankruptcy must be discharged for at least three years.
*Applicants will be considered with credit scores under 640 with an added recurring Marginal Credit Score Fee of 1/12th of monthly rent. Approved applicants can resubmit credit information if credit score is improved to 640+.
Credit history does not apply to applicants applying with the assistance of a housing subsidy.
Rental History
Present and previous landlords/mortgage companies may be contacted to determine the applicant’s ability to meet rental obligations and character references. Endorsement from Apartment Community and/or mortgage companies is required with a minimum of two years verifiable rental/mortgage history.
In the event applicant has no verifiable rental history an additional deposit equal to one month rent in addition to the normal deposit will be required. If present or previous landlords and/or mortgage companies report any of the following items, the applicant will be denied:
- 1 or more late payments in the last 12 months
- 1 or more NSF payments in the last 12 months
- 2 or more NSF payments in the last 24 months
- Foreclosure on mortgage in the last 3 years
- Outstanding balance for damages or rent owed to another Landlord/mortgage Company.
- Any demonstration of poor residence care
- Any eviction (FED), skips or notice given by landlord
Criminal History
While we do not rent to registered sex offenders, we do consider applicants with other criminal history. We look at a number of factors.
Pets
Well behaved pets will be considered at landlord’s discretion. A photo of applicant with each pet to be considered is required with application. If pet has no rental history, the pet may be considered with an additional Security Deposit in the amount of $300.
Vehicles
All vehicles must be registered and in operating conditions.
Smoking
No smoking is allowed inside the property or on the premises.
Marijuana
Possession, use, and/or growing of marijuana is not permitted inside the property or on the premises.
Validity Period
Approved applications remain in good standing for a period of ninety (90) days from the approval date. If the lease is not signed and/or the applicant fails to occupy an apartment within the viable time period, the application must be resubmitted for verification and approval and a new application fee must be paid.
Confidentiality
We maintain a strict policy of confidentiality and privacy for our applicants and residents. We do not discuss information on applications with anyone other than the applicant. In addition, we do not discuss individual credit reports with an applicant. If you would like to discuss or dispute anything in your credit report, you will need to submit a written request to ‘info@RentMeDenver.com’ to initiate the process.
Please note that requirements for tenants receiving housing subsidies may be different based on Colorado SB-184.
