When it comes to finding good tenants, it’s hard to say enough about how important a rental application is. Even a simple application with only contact information can be checked against the credit report to get rid of many of the obvious bad apples. But the application template lease form lets you do much more than that. You can improve the chances of getting the right tenant if you ask for the right information and ask the right questions.
What Is a Rental Application?
Usually, a landlord will want a tenant to fill out a free rental application before they sign a lease. An application to rent is just a form that asks for some basic information about a potential tenant. It can be on paper or on a computer. Each collection method has pros and cons, so make sure you’ve thought carefully about your clients and how they usually find your property.
In most cases, an application will ask for information like former addresses, ID numbers, and monthly income. A rental application is also a chance for a landlord to get written permission to check a tenant’s credit. But keep in mind that a rental application does not guarantee that a person will get a place to live. To put it simply, an online rental application is a document that doesn’t have to be signed. You can use it to determine if a person is eligible to rent and help with the tenant’s initial screening.
What to Include in a Rental Application?
It’s vital to have a proper written rental agreement if you’re a landlord with a property to rent. If in between you and your tenant get into a legal fight, you are more likely to win if you have a proper written agreement.
But your rental agreement must have some basic rules about renting. So let’s have a look.
- Identify the parties and your property address
Make sure you list the names and contact information of all the people who live there. Include your name, how to reach you, and the property’s address. If the property does not have a number, you need to describe it. For instance, if it is a room in the house, you can say that it’s the “bedroom on the third floor” if that floor only has one bedroom. Be concise and correct.
- Tenancy duration and termination
Specify the term, such as month-to-month or three months. Start renting on the 1st day of the month. Include the notice period you and the renter must provide to terminate the agreement. Consult with the local building department or your attorney regarding notice requirements for month-to-month or short-term leases.
- Rent and security deposit
Tell the tenant where and how to pay the monthly rent. Say if you accept credit cards via phone. If you require monthly rent, include the tenant’s address. Late fines should not be high. Add the security deposit. Local building departments set limitations on security deposits and late fines.
- What is included in the rent?
Indicate if you provide utilities like electricity, gas, heat, cable, etc. You could also say who is responsible for the utilities. Make sure you know what comes with the rent amount and what doesn’t. If you’re giving appliances and furniture, like a dishwasher, stove, fridge, bed, and couch, list them by name.
- Tenancy rule
Mention what you expect from the tenant, like that they won’t do anything illegal, won’t smoke on the property, and won’t make any noise after a certain time. Say that you can end the contract if the tenant doesn’t follow the rules and that if you have to go to court and prove the agreement, the tenant will have to pay your legal fees.
- Damage to property
Make it clear that the renter is responsible for any damage that isn’t caused by normal wear and tear. Also, add that the tenant must leave the place as clean as a “broom.” Finally, say that the renter will have to pay your lawyer’s expenses if you have to take them to court for property damage.
At the bottom, both you and your tenant must write your names and the date and sign on that.
Tenant screening takes time. Who to accept, re-evaluate, and dismiss may be tough. Skipping tenant screening is risky. Knowing what details you need from a renter and how to reply depending on your online rental application requirements may make the process easier. Like tenants, landlords have unique goals, requirements, and preferences. Also, it will help you find good tenants, keep good tenants, and avoid long-term problems.