Tenant Qualifications

The following is a list of things we consider on tenant applications.  This list serves as a guideline and certain criteria might be slightly modified depending on the property, lease length, and other factors.

* Household income will need to be 3 times the amount of the rent.  Income must be proven with paystubs, tax statements, and/or bank statements.  Housing assistance will count toward income but will not negate the income requirement.


* Credit score requirements will vary by property with higher rent properties requiring higher credit scores.  For properties with a one-year lease, credit scores below 600 will not be considered.  Credit scores below 550 will not be considered for any property.  We do not accept applicants with no credit unless they are approved occupants only and not the main lessee.


* Criminal charges will be evaluated on a case-by-case basis.  Typically any criminal charges within the last 3 years will cause an application to be denied.


* ANY felony charges within the last five years will cause an application to be denied.  ANY past charges for sex offenses or methamphetamine will cause an application to be denied.


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


* Our standard for occupancy follows the established HUD standard of two persons per bedroom plus one.

 

* Single-family homes are intended for family occupancy.  We will occasionally accept roommate situations with more than two adults occupying a property but this is rare.  Roommate situations are generally only considered for apartments on month-to-month leases.

 

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.