Effective January 5, 2025

The following is a list of things considered by CWPM for tenant applications.  This list serves as a guideline and certain criteria might be slightly modified depending on the property, lease length, and other factors.  Please call our office if you have any questions or need clarification on these qualifications.

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INCOME

* We strongly recommend that the total household income be at least 3 times the rent, at a minimum the net household income will need to be at least 2 times the amount of the rent.  Income must be proven with paystubs.  Independent income that cannot be verified with paystubs must be verified with tax statements.

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* In addition, the total debt payments to income ratio (DTI) cannot exceed 50%.  Car payments and other loan payments plus rent will count toward household debt payments.  Housing assistance will count toward income but will not negate the income or debt ratio requirements.  Significant savings (proven by bank statements) can also count toward household income.

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CREDIT

* Credit score requirements will vary by property with higher rent properties requiring higher credit scores. Credit scores below 550 will not be considered for any property. 

 

*Properties that are rented on a month-to-month lease (including all of our apartments) will require a minimum credit score of 550.  Properties rented on a one-year lease will require a minimum credit score of 600.  Properties that are rented on a one-year lease for more than $2,000 per month will require a minimum credit score of 650.

 

*Credit score requirements will apply to each adult applicant.  One free credit report per year can be obtained at www.annualcreditreport.com

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*We do not accept applicants with no credit unless they are an approved occupant only and not the main lease holder.  We do NOT accept co-signers to supplement for low credit.

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CRIMINAL

* Criminal charges will be evaluated on a case-by-case basis.  Typically, any criminal charges within the last 5 years will cause an application to be denied.

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* ANY felony charges within the last five years will cause an application to be denied.  ANY past charges (from any time frame) for sex offenses, homicide, stalking, or methamphetamine will cause an application to be denied.

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* Past evictions and/or an unfavorable reference from a prior landlord will cause an application to be denied.

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OCCUPANCY

* Our standard for occupancy follows the established HUD standard of two persons per bedroom plus one.
 
* Single-family homes are intended for single family occupancy.  A maximum of two adults per property is our standard practice. We will occasionally accept roommate situations with more than two adults occupying a property but this is rare. 

 

* Any adult that is staying at a property regularly or for an extended period of time (more than 3 weeks) will need to fill out an application or provide a recent background check and photo ID to CWPM.  Our online application or portable tenant screening report can be accepted.
 

PETS

Please refer to the CWPM pet policies linked below.  Pets must be approved by the property owner.  No more than two pets are allowed at any CWPM property and restricted breeds are not allowed.

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SMOKING

All properties managed by CWPM are non-smoking.  Smoking of any substance, including cannabis, inside the property or in the immediate vicinity is strictly prohibited.  Growing cannabis at any CWPM property is also prohibited unless approved by the owner in writing.

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APPLICATION FEES

Please be aware that the online applications for CWPM are processed by a third party vendor and the $40 charge for your application will come from CBS Reporting or ACRAnet, Inc.

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INSURANCE

All CWPM tenants are required to purchase renters’ insurance and keep it active throughout their tenancy.  A $100,000 minimum policy is required and the owner of the property and Colorado West Property Management must be listed as additionally insured.  Tenants must provide proof of insurance prior to moving in.

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