Required Information and/or Documents:
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Rental Application signed
Brokerage Disclosure initialed & signed
Proof of Citizenship filled out and signed
Copy of Driver’s License and/or Picture Identification
Proof of All Income
Certified Funds for application fee $30/adult applicant
Certified Funds for processing fee $100/unit
Certified Funds for Security Deposit due 24 hours after approval
Additional Information and/or Documents:
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Information about all Real Estate owned and existing mortgages
Proof of child support/alimony
Social Security and/or other benefit award letters
Picture of Pet(s) and all vaccination documents
Requirements for moving into a leased property after approval:
♦ All utilities must be put into Tenant’s name by the agreed upon move-in date (3rd Party Approval Form) and
account numbers provided
♦ Certificate of Liability Insurance Policy with $100,000 minimum and Weichert, Realtors as co-insured
♦ Non-refundable Pet fee
♦ Pro-rated Rent
♦ 1st Month’s Rent (if move in date is on or after the 21st of the month)
*Please submit copies not originals of all required documents*
Weichert, Realtors – Pikes Peak Group
411 S Tejon St, Colorado Springs, CO 80903
WEICHERT, REALTORS – PIKES PEAK GROUP
07/10/2013
Rental Application Scoring Sheet
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Step 1
Proof of combined income: Please attach copies of your last 2 paycheck stubs or a letter on
company letterhead from your current or future employer to verify income. If you are unemployed or self-employed,
please attach a copy of last year’s income tax return and your last 3 months’ bank statement. Other income such as
retirement, SIIS, child support, etc. must have reliable documentation if you wish us to consider. All applicants
must make a combined, gross income of 3x the rental amount plus any/all estimated monthly debt
reported from credit report.
Income
Applicant 1 $___________________ Applicant 2 $___________________
Applicant 3 $___________________ Applicant 4 $___________________
Applicant 5 $___________________ Applicant 6 $___________________
Combined Gross Income $_________________ less Combined Estimated Monthly Debt $_____________
less 3x Rent
$_________________ = Actual Total Income $__________________________
Cosigner(s)- accepted if gross income is less than 3x Rent. Cosigner(s) must be financially and credit worthy with a
minimum of 700 F.I.C.O score. Cosigner(s) must qualify on his/her own for the 3x rental amount plus all estimated
monthly debt reported from credit report. Cosigner(s) not accepted if filed for Bankruptcy/Shortsale/Foreclosure
within the last 7 years.
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Step 2
RATING CATEGORY/APPLICANT
Length of employment
Rent to income ratio
Debt to income ratio w/new rent
Credit (F.I.C.O) score
Length of residency (avg 5 yrs)
Late Rent (last 12 mo)
0
1
2
3
0-6 mo
7-12 mo
13-24 mo
25+ mo
0
1
2
3
>40%
33-39%
29-32%
<28%
0
1
2
3
>75%
56-65%
46-55%
<45%
0
1
2
3
<549
550-624
625-699
>700
0
1
2
3
<12 mo
13-18 mo
19 mo-2yr
>25 mo
0
1
2
3
3
2
1
0
Step 2 Total __________
10+ no pets
10+ with pet(s)
7-9
Under 7
Approved
Approved, subject to owner’s approval. May require increased S/D
Approved, double S/D
Application declined
Eviction w/i last 5 yrs:
______ YES (Automatic denial of application) _______ NO
Cosigner(s) NOT accepted for denial due to eviction
Step 3
*Bankruptcy/Short Sale/Foreclosure closed w/i last 7 yrs ______ YES _______ NO
*3+more late Rent payments last 12 months ______ YES _______ NO
*1+more NSF check last 12 months ______ YES _______ NO
*NO verifiable Rental/Ownership History (Military Base Housing Not Included) ______ YES _______ NO
*If you answered YES to one of the above questions will charge 2x Security Deposit. If you answered YES to 2 of the above questions will charge 2.5x Security
Deposit. If you answered YES to 3 of the above questions will charge 3x Security Deposit. If you answered YES to all 4 of the above questions Cosigner required
with 3x Security Deposit.
WEICHERT, REALTORS – PIKES PEAK GROUP
07/10/2013
Decision
___ Approved
___ Denied
___ Approved with Cosigner(s)
___ Approved with additional S/D
Property Manager:_______________________________ Date: _________ Notified Applicant:_______________________________
Date: _________
RENTAL APPLICATION GUIDELINES
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FAIR HOUSING
Weichert, Realtors – Pikes Peak Group strictly abides by the Federal Fair Housing Act, Colorado
Fair Housing Law and principles of equal opportunity. We do not discriminate on the basis of race, color, and creed, national origin,
ancestry, sex, marital status, physical or mental disability, familial status, sexual orientation, or gender identity/expression.
CONFIDENTIALITY
Your privacy is important to us. We do not distribute confidential information to anyone, with the
exception of the company we use to process rental applications.
APPLICANTS
Each proposed occupant 18 years of age or older must complete a separate rental application,
whether or not the applicants are related to one another. The application processing fee is $30 per applicant. This fee must be paid
in certified funds. This fee is non-refundable. If there is more than one applicant, your application scores will be blended to arrive to
a decision (see attached). We will accept co-signers, if needed. Co-signers must complete a separate rental application, must qualify
solely on own for the property, and will be required to execute the rental agreement along with the residents of the property. Any
co-signer(s) will be fully obligated to all conditions and terms of the rental property lease.
CREDIT CRITERIA
Weichert, Realtors – Pikes Peak Group will obtain a consumer credit report for each applicant.
This report must be generated by Weichert, Realtors – Pikes Peak Group, and not the applicant.
INCOME CRITERIA
Proof of income: Please attach copies of your last 2 paycheck stubs or a letter on company
letterhead from your current or future employer to verify income. If you are unemployed or self-employed, please attach a copy of
last year’s income tax return and your last 3 months’ bank statement. And all other income such as rental, retirement, SIIS, child
support, etc. must have reliable documentation if you wish us to consider. All applicants must make a combined, gross income of 3x
the rental amount plus any/all monthly estimated debt from the credit report.
IDENTIFICATION
Photo identification is required. Please attach a copy of your Driver’s License or State ID to your
application
NUMBER OF OCCUPANTS
The maximum number of occupants will be 2 persons per Bedroom, plus 1 extra person per
rental property.
Example: 1 Bedroom Unit = 3 occupants, 2 Bedroom Unit = 5 occupants, etc
RENT PRORATION
All rents are prorated to become due on the first (1st) day of each month. If you move in before
the 21st of the month, we will collect a proration from the move-in date to the last day of the month. If your move-in date is on or
after the 21st of the month, you will pay a full month’s rent plus the proration adjustment before move-in. All funds prior to movein (security deposit, non-refundable pet fee, rent) must be paid in certified funds. No personal checks will be accepted.
Example:
Move-in date April 20
o
Amount due at lease signing: 11 days rent for April, plus
o
Non-refundable pet fee of $200/pet
o
A full month’s rent would next be due on May 1
o
o
o
o
Move-in date April 22
Amount due at lease signing: 9 days rent for April, plus
Non-refundable pet fee of $200/pet
1 month’s rent for May
A full month’s rent would next be due on June 1
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WHEN YOUR APPLICATION IS COMPLETE
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HOW AND WHEN DO WE DECIDE
Once a packet is submitted it usually takes one to five business days to process each
application. Please see attached a copy of the retaining form we use to score your application.
Please deliver or mail it (along with the processing fees) to our office:
Weichert, Realtors – Pikes Peak Group
411 S Tejon St, Colorado Springs, CO 80903
Thank you for considering renting from us!
WEICHERT, REALTORS – PIKES PEAK GROUP
07/10/2013