Multifamily

Rental Application Approvals Up in Denver

DENVER — According to RentCafé’s newest study on rental application approval — which includes lease applications processed between 2014 and 2017 — Denver comes in 7th place in the nation — 89.6 percent of renters got the green light from landlords in 2017, and an even higher 92.7 percent got accepted into high-end buildings.

  • It’s easier to get accepted now than in the past, as shown by this year’s 83.2 percent approval rate, compared to 81.7 percent in 2014.
  • The best months for renters to get approved are May and June.
  • 65.5 percent of Denverite applicants in 2017 are Millennials, followed by Gen Z with 13.3 percent.
  • Those who qualified for an apartment earn on average 7K more than the renters who were rejected ($54,677 vs. $47,432).
  • Accounts in default or collection are the biggest deal-breaker for landlords, making up 32.9 percent of the reasons for rejection.
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