Tuesday, November 5, 2013

How to Create a GOOD Rental Application…

The first step in obtaining a good tenant for your rental property is to procure a good rental application. There are several questions that are, essentially, required on every application in order to perform the most basic background check:

-Full Legal Name (spelled correctly) and any aliases

-Date of Birth

-Social Security Number

-Current Address and Phone number

A good rental application will also cover the following areas:

-Contact information for the applicant’s current and previous landlords. Additionally, they should be asked to include information about when they lived at that address, the rent amount paid and reason for leaving.

-Contact information for the applicant’s current and previous employer. Additionally, they should be asked to include information about dates of employment, salary earned or hourly wage, and whether they were (or are) working full or part-time.

-Information on any other occupants who will reside on the property including their name and age.

-Information on any Criminal or Felony Charges

-Information on any Evictions

-Information on any Bankruptcies

-Whether or not they are a registered Sex Offender

An authorization of release will be required to run any background check on the applicant(s). This authorization should state that permission has been given to screen credit reports, character information, verify rental history, employment history, bank information, public records and personal references as necessary to authenticate information set forth in the application. It should be signed and dated by the applicant.

After receiving an application, be sure to check that the form is completely filled out. You should also cross reference the information provided with the applicant’s photo ID (in addition to confirming that the ID photo matches the applicant). Inaccuracies or wrongly entered information could delay the screening process or signal a red-flag about the applicant’s honesty.

For a free sample of a great rental application, visit www.erentalservicesinc.com