Putting a property up for lease can be a means of investment because it serves as a source of income that requires little cost for supervision. As a landlord, you will want to protect your property by making sure that you do not fall prey to bad and ruthless tenants.
Using a Rental Application Form to screen your tenants is a landlord’s leading line of defense against renters who will damage your property, not pay rent on time, or use it for illegal purposes. A Rental Application Form will allow you to collect pertinent data about your applicants that is needed for the tenancy.
Residential Rental Application Form
Home Rental Application Form
Printable Rental Application Form
Basic Renters Application Form
Land-lording is a serious business and you would want to guarantee that your house guests will not be detrimental to your business. With the help of our free Rent Application Forms, you will be able to do quick profiling and assessments of your potential candidates with the click of a button.
Screening Potential Candidates
The initial process of a Rental Application is to do a background check on your applicants as soon as they fill out the Rent Application Form. The results of your background check will help you determine if a candidate has the capacity to pay rent on time and if he meets the requirements you are looking for in a tenant.
Background checks can include the checking of their credit history, looking into criminal records, connecting with their previous lessors, checking with past or current references.
By doing background checks on your applicants, you will be able to gauge if you can accept their application or not. Do not feel obliged to accept a renter who does not yield positive results after you do a background check on them. Accepting questionable tenants can only lead to bigger problems.
Pre-Tenancy Application Form
Free Rental Application Form
Standard Rental Application Form
Fillable Rental Application Form in PDF
Rental Application Form Example
How to Determine if a Renter Is Qualified
A Renter’s Capacity to Pay
Land-lording is a business, and as with other businesses, it isn’t free. The number one priority in looking for a potential candidate is to make sure that an applicant has the capacity to pay the amount of rent due. The rule of thumb is to check if their monthly income is at least 3 times more than the amount due for rent.
Maintains a Good Credit History
Another way to determine if a tenant has the capacity to pay rent on time is through his credit history. A person who pays his bills on time will have 0 to little chance of paying rent late.
Source of Income
An applicant’s monthly salary will help you determine if a renter has more than enough to support himself while paying his monthly rental dues; however, it simply doesn’t stop there. Landlords also have to check on an applicant’s history of employment. Does he have a stable job? Will he still be working in a span of 6 months or a year? Does he have a habit of hopping from one job to another that might affect his payment schedules?
The Contents of a Rental Application
Your Application Form should require a candidate to provide his complete name, date of birth, phone number, e-mail address, Social Security Number, Driver’s License, and his Current Address. These types of information will help you when conducting background checks.
Work History and Salary
This part of the form requires an applicant to provide a list of his current and previous employers, the contact information of his current and previous supervisors, his work address, and his salary information. The rule of thumb is to let them indicate their employers or supervisors going back to at least 5 years. It is also wise to require a copy of the employee’s payroll slips over the last 6 months.
Criminal Records and Eviction History
Your Application Form should contain a section where applicants are required to divulge any information of a criminal record or an eviction history.
This portion of the Rental Form lets the candidate provide a list of his rental history within the last 5 years. The tenant should provide the name of his previous landlords, the complete addresses, and their phone numbers.
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