Questions-first time renter in Denver (sale, apartments, insurance)

[Alinka]

I just visited a link for "Palomino Park" and while it looked attractive it brought up questions that I have not thought of.

The biggest question, as always for me, is: Pet Friendly?

Aside from that, I noticed references to income limits. To be blunt, my only income is from dividends. I will not be able to draw on my pension or retirement plans for at least 10 years. But I have savings which I am prepared to draw on and live frugally. I can pay 20% down to buy and am looking at rentals (for just me) up to $1000.00.

The site also mentioned (I think it was 3 years) rental history. I have no rental history; have been a property "owner" for the last 25 years and mortage is almost paid off. Most likely I will receive account assets-again which can't be cashed in for several years and it is less likely I will receive a share of the current property.

Obviously I know nothing about renting.

Is proof of income a way to keep older people out? Can I just say(to landlord) here is 6 months or one year in advance?

Certainly I can't be the only one in this situation?! Or am I?

[Dreaming of Hawaii]

Any good rental you look at is going to ask for credit report, income, rental history, etc. Obviously if you've been an owner, then you don't have rental history.

I suggest going in to the rental office there and talking with them. Of course, before you visit you should call and ask them your first question about pets. If they accept pets, then talking with them face-to-face you can perhaps come to some sort of agreement with them about the rest of your questions.

[JerseyCane]

Most places should be fine if you paid the rental time frame in advance...in fact, they may even give you a discount for paying up front. I was worried when I was going to rent my current apartment, as I was a property owner as well, and my only rental was back in college. They were fine with just seeing the contract with the sale of my townhome.

[spacadet]

Palomino allows pets, but they're not especially pet-friendly. They have the most restrictive pet rules I've seen. They allow up to two pets with a combined weight of no more than 35 lbs. They only allow pets in Green River (I think), and also I think the pet has to be older than one year so that you don't get around the weight limit by bringing in a puppy of a big breed. They require that you carry renter's insurance to live there, and I believe they require an extra pet rider on top of your liability policy. And of course, there are breed restrictions, but I think that's for compliance with local laws - so technically you couldn't own those breeds even in your own home.

They do have a fenced dog park, though. It's a short walk from Green River, along the fence with the golf course.

If you like Palomino, you might check out the idea of renting one of the condos in Gold Peak or Silver Mesa, instead of renting an apartment. Palomino is actually a mixed community with some owners and some renters. The pet restrictions might only apply to the rental properties.

We don't have pets, but we were thinking about getting a dog. Probably won't, as long as we rent at Palomino. We like big breeds.

I've heard one of the credit reporting agencies was going to start adding rent payments to people's credit reports this year - which implies that it hasn't been there in the past, and has therefore been unavailable to apartments screening new residents. So if your mortgage payments show up on your credit report, that's probably all they'll need to establish payment history.

Proof of income is a way to keep deadbeats who don't pay rent out, nothing to do with age. Every apartment is going to have some sort of limit, whether they explicitly state it or not.

We like Palomino a lot. I'd recommend it if it fits your pet needs.

[Alinka]

Thank you to all who replied!

I am looking for the quietest, safest complex. Underground parking is a deal breaker. Size is not important; under 1000sq ft is fine. Any suggestions are very appreciated.