What is a Rental Application?
A rental application is a document that prospective tenant fills out when they are interested in renting a property. The landlord or property manager usually provides the application and collects information about the tenant’s employment, income, rental history, and personal references. The purpose of the rental application is to help the landlord or property manager assess the tenant’s ability to pay rent and take care of the property.
The rental application typically includes basic personal information such as the tenant’s name, date of birth, and contact information. It also asks for employment information, such as the tenant’s employer, job title, and income. The rental application may also ask for information about the tenant’s rental history, including previous landlords and rental addresses.
Why Do You Need a Rental Application?
A rental application is a document that landlords use to screen potential tenants. It is a crucial step in the rental process as it helps landlords determine if a tenant is a good fit for their property. The rental application typically includes information such as the tenant’s name, contact information, employment history, rental history, and references.
There are several reasons why landlords need a rental application. First and foremost, it helps landlords assess the tenant’s ability to pay rent on time. By collecting information about the tenant’s employment history and income, landlords can determine if the tenant has a stable source of income and is financially responsible.
Secondly, a rental application helps landlords verify the tenant’s rental history. This includes information about past landlords, rental amounts, and any issues arising during previous tenancies. By checking the tenant’s rental history, landlords can understand how the tenant has behaved in the past and can use this information to make an informed decision about whether or not to rent to them.
Thirdly, a rental application helps landlords ensure that they are complying with fair housing laws. By collecting the same information from all applicants, landlords can avoid any accusations of discrimination. Additionally, by asking for references, landlords can ensure that they are renting to someone trustworthy and responsible.
Overall, a rental application is essential for landlords when screening potential tenants. It helps them make informed decisions about who to rent to and ensures that they comply with fair housing laws.
Rental Application Charges and Fees?
The landlord may charge a fee to cover the cost of checking the background and the credit history of potential tenants. Usually the landlord or the property manager hire an agency or a company to complete the formalities of a rental application process. The complete process might take anywhere between 24 hrs to 72 hrs to complete.
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How to Fill a Rental Application Form
Step 1: Enter your name in full in the space provided followed by the date of birth, social security and driver’s license numbers separately. If you have used any other name(s) different from the names already entered in the first line on the form, declare the name(s) as well in the space provided under ‘Any other names you’ve used in the past.’ Enter your phone numbers both for your home and workplace. In the next line, enter the names of all other proposed occupants of the apartment using separate lines for everyone followed by their birth date, and the relationship of each person to you.
Step 2: Under ‘Rental/Residence History,’ enter the address, zip code, state, the rent amount in each case, the length of time in each apartment list, and the name and phone number of the landlord or their agent in each case for your current residence, previous residence and prior residence accordingly. You must state the reason for leaving in each case and be honest in answering other questions in this section such as ‘Did you pay rent in full?’
Step 3: Under ‘Employment History,’ the tenant must provide the details of the current, previous and prior employments on the Blank Rental Application Template. The name, address and phone numbers of the employer as well as the name and phone number of the supervisor must be listed for each category of employment. You should never forget to enter the gross income per month in each case.
Step 4: Under ‘Credit History,’ enter your bank name, type of accounts, balance owed or on deposit and the account numbers for each bank account listed on the Blank Rental Application Template. If you are on loan as at the time of filling out the form, indicate the type of loan, name of bank and the account number respectively.
Step 5: Under ‘Vehicles,’ enter the details, that is, make, model, color, year of manufacture, and license plate of any vehicle you will be parking on the premises in the space provided on the form.
Step 6: Under ‘References and Emergency Contacts,’ enter the name, address, and phone number of any individual that should be contacted in case of an emergency in the appropriate space on the form.
Step 7: Under ‘General Information,’ the tenant should answer all the listed questions as accurately as possible. The questions are many and are meant to elicit responses that will further help the landlord to determine the suitability of a tenant being granted a rental lease or not.
After all the questions have been accurately answered and the processing fees (if any) paid, the prospective tenant must sign and date the Rental Application and return the form to the landlord or their agent.
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