Colorado Rental Application
The Colorado Rental Application is a tool exclusively used for getting a report on tenants interested in renting a residential property in Colorado. With the form, the landlord can get a complete picture of the applicant’s history and make a sound, reasoned, and unbiased decision as to whether they can rent a property. The contract screens the candidate’s criminal, credit, and rental history to give the landlord a sense of whether they believe the individual will pay their rent on time, will take care of the property, and follow the terms and conditions contained within the contract. Before reviewing any completed rental applications, the landlord should make a list of criteria they can compare the applications to, such as minimum credit scores, a certain income ratio, no prior evictions, and no poor landlord references.
Rental Application Fees (Bill 19-1106): Landlords 1) cannot charge applicants more than the cost of running the application, and 2) have to charge the exact same amount to every applicant (and the same amount for every unit available for rent). This requirement has been in effect as of August 2nd, 2019, after the passing of Colorado Bill HB19-1106 “Rental Application Fairness Act”.
In the event the landlord decides to charge for the application, they have to provide the applicant with a list of the charges that were accrued from the charges.
The new bill also requires landlords to provide reasoning (in writing) in the event they deny an applicant. The form is called the “Notice of Denial” and has to be done within twenty (20) days of denying the applicant.
Regarding screening criteria, landlords can no longer deny applicants for a criminal charge that occurred more than five (5) years from the date of application. Additionally, they can only use the past seven (7) years of credit history as criteria for accepting or denying the applicant.
Security Deposits: There is no set amount landlords can charge for security deposits. At the end of the lease, landlords are required to give the security deposit back within sixty (60) days, as per § 38-12-103.