Like a job applicant to a company, a prospective renter must undergo a screening process before they can settle into their new home comfortably. And part of this screening process is filling out a printable rental form. For every landlord, rental forms are crucial in weighing whether a potential tenant is worthy of residing in the property for a specific period. Read More
A printable rental form or an application form is a document used by landlords or property managers before renting to discern whether the applicant meets the requirements or standards of the landlord. The landlord will then conduct a background check using the information provided as a final step in the screening process.
Rental preferences vary from one age gap to another. According to Diane Perry and Co., Millennials, put high regard when it comes to their safety. In fact, 76% of them reported that their number one priority when it comes to the metro dwelling is the safe streets. As a landlord, you can help enhance the security of your property by placing security cameras.
How to Write a Printable Rental Form?
Here’s how to make a clutter-free printable rental form:
1. Request for the Applicant’s Information
This section is the primary information that landlords initially need. This consists of the prospective renter’s full name, date of birth, social security number, driver’s license number, and email address. You should also ask for the previous address and the length of the tenant’s stay for transparency purposes. In case your prospective renter is married or is living with friends, provide a section for the names of the additional occupants.
2. Create a Section for their Employment Information
Some landlords contact employers in case of unexcused long-term absences. Provide a section for your prospective renter’s current and previous employers. You may also ask for their monthly income to determine their earning power. The monthly income will also serve as your basis if they can support the monthly rent in the long term.
3. Ask for References
These references are from previous landlords who have had first-hand experience with your prospective renter. Provide at least two to three sections for references with their full names and contact information. Through this, you’ll know what to expect when you eventually approve the application.
4. Include a Section for the Financial Information
The financial information is what you will use for determining the prospective renter’s credit score and other pertinent financial information. The credit score is one of the critical factors that landlords look for in a potential renter—so, ask for the banking details and credit card information (if applicable).
5. Always Ask for Consent
Lastly, the rental form must have a statement declaring that the information provided by the prospective renter is true and accurate. And that false information or misrepresentation is possible grounds for rejection of the application. The same statement must also ask for the consent of the prospective renter allowing the landlord or their agent to conduct background checks, rental history, and financial information verification. After the statement, let the prospective renter sign below along with the date signed.
Once everything has been provided, always inform the applicant to double-check everything submitting the rental application form. You may then proceed to conduct background checks for the next 48 hours. Provide the applicant with results whether they are accepted or not.
Frequently Asked Questions
What are rental references?
Rental references are the people who can vouch for your behaviour. You may know these people personally, professionally, financially, and educationally. Your previous landlord can also attest to your behaviour and your diligence when it comes to paying your monthly rent.
How do I screen potential tenants?
The tenant screening process starts with a completed rental application form. Have the potential tenant fill out the application form, and you can conduct background checks through the information provided. Once you have completed the background checks, you may contact the potential tenant if they made the cut or not.
Are there any documents that should accompany my rental application form?
Yes. According to Mint 360 Property, the documents that should accompany your rental application form are the following:
1) your cover letter, 2) a resume of your rental or employment history, 3) proof of income, 4) reference letters, 5) proof of your rental payment history, 6) valid IDs, letter of employment (if you have been recently accepted in your job), and 7) pet references (if applicable).
Is a printable rental form legally binding?
No. The lease agreement that comes after completing a rental application form is a legally binding document. The agreement entails the responsibilities of both parties as well as the actions that are allowed and restricted. The agreement becomes legally binding when both parties have their signatures on it.
How do I follow up on a rental application?
The processing of rental applications commonly lasts up to a maximum of 48 hours. If you have not heard from them after 48 hours, you can follow up on your rental application. Call them through the contact information they have provided and offered help if they need additional references or information. Showing the landlord that you are eager can increase your chances of being approved.
A wise and responsible landlord makes it a priority to ensure the safety of everyone on the property. Common problems down the road are deeply rooted in irresponsible background checks. And you don’t want your property to be a breeding ground for numerous crimes and anomalies. Try to get to know your prospective tenant and secure everyone’s safety by using a printable rental form. This form will help you gather all the pertinent information that you need. So, secure your assets and tenants by downloading this form.