“Important Parts Of A Tenant Application Form” by Mike Marko
Are you thinking about making your own tenant application form?
As the property manager or landlord, it is important to give a tenant application form to every applying tenant.
A tenant application form is used to verify the applicant. An applying tenant could be easily evaluated by simply looking to their rental application. However, some answers on a tenant application form could be easily faked. Do avoid fake information; consider reading this article about the important information that should be included in every tenant application form.
Important Things To Include On A Tenant Application Form
If you are new to property management, or even if you have been doing it for years, I’m going to cover some stuff that will help you improve your tenant application form.
Basically, a standard tenant application form should ask the applicant’s name, current address, telephone number and email address. Some forms also ask for any proofs of employment such as name, address and telephone number of the employer. The length of the employment contract, position and salary are also required.
Aside from the basic information, the rental application form also asks the applicant’s permission to allow the landlord to conduct a criminal and credit background check on them. That also includes a SIGNATURE field that they sign, showing you give permission to conduct the tenant screening process. You might want to check with your lawyer to make sure any additional authorizations are needed for credit and criminal checks.
Background checking is important for everyone who is managing a business in rental properties. This process helps the landlord or property owner to avoid the applicants who have no ability for being a good tenant.
When the tenant application form is signed and approved, this can be used as proof or be included in the contract that the tenant was accepted or permitted to rent a property.
Basic Parts of a Tenant Rental Application
Here’s a list of information that every rental application should have.
The majority of the most basic information you need from the applying tenant will be included in this part. In this section, it is important to ask for the tenant’s name, social security number, and any contact information. Driver’s license number, work phone numbers and previous addresses for the past five years could also be included in this part.
In order to verify the tenant’s financial capabilities, a proof of income or employment should be required.
The length of the employment for the applying tenant and their position in the company should be in this part. Along with the amount of monthly wage, it is also important to ask for any contact information from their company. Consider asking the address or telephone number of anyone from their company’s human resource department. Even though the tenant provides this info it is always best to do an internet search for employment numbers to avoid any misrepresentations by the applying tenant.
How about if the applying tenant is self-employed?
Consider making additional fields and ask for their income. You might want to develop a list of questions for self-employed applicants to understand if their income is consistent as well as legally obtained. The credit checks and financial info will help you determine if this is a qualified renter or not.
You should ask about the present and previous rental properties that the tenant lived (and had leases). Knowing the applicant’s rental history are also important.
By using the rental history, a landlord can predict the behavior of their possible future tenants. Information about every late payment, complaints, and damage to the rented property is vital in evaluating the applying tenant.
The name, address and telephone numbers of their previous landlords should be included here. You should also ask the reasons why they move out from their previous address.
Checking the applying tenant’s credit history is an important part of a tenant background check.
Learning the prospective tenant’s financial situation could be helpful especially when the applicant’s rental history. The credit check will indicate negative items such as late payments or unpaid debts and bills.
Ask for the information about the applicant’s credit cards, auto loans, personal loans and other accounts on the application form to compare vs. the credit check results.
If you have strict policies for your rental property, it is also helpful to include this in your tenant application form.
Final Thoughts About The Tenant Application Form
I expect this article gives you enough information to create your own tenant application form. I encourage you to do further research and improve your form. I also suggest you consult with an attorney to make sure you don’t violate any local or state laws.
As the landlord, it is your responsibility to choose the best tenants for your properties. The tenant application form is your primary tool to help ensure that you succeed.
If you have questions or suggestions, leave them in the comment box below.
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