In Colorado, a rental application is a form used to screen potential tenants to see if they are financially fit and responsible enough to be an ideal tenant. Typical information collected of a rental applicant includes name, full address, social security number, and income information. Though these applications require such sensitive information, they are necessary to gather information on applicants to get an in-depth and uniform look into every applicant’s financial situation and background. A rental application also protects applicants, ensuring that the same information is being collected from everyone.
According to Colo. Rev. Stat. §§ 38-12-102 to 38-12-104, there are no limits on the amount that a landlord may request as a security deposit from a tenant. However, a landlord must return that deposit, less any fees (such as damages) to the tenant no later than 30 days after the termination of a lease.