The rental application is one of the most important documents that a landlord uses. It is the tool that is used to verify everything that a potential tenant has told us. The application should give you the authority to check an applicant’s credit, criminal, work and housing history. A good application for should do three things:
- Positively identify the applicant (yes, some do lie here.).
- Determine if the applicant can afford the rental unit.
- Provide enough information so you can rank the applicant according to your application standards.
You application form needs to be clear, easy to read, and easy to complete. At a minimum it should ask for the following:
- Legal Name
- Current Address
- Social Security Number
- Phone and E-mail
- Addresses for previous 5 years
- Employment Information
- Income Information
- If the applicant has ever been evicted
- If the applicant has ever been convicted of a crime
- If the applicant has ever filed bankruptcy
- If the applicant has pets
- Who will be living with applicant (adults and children)
- Where they bank
- Credit references
- Emergency Contacts
- A space for comments and explanations
- Authorization to check references, call employers and pull a credit report.
- A place for their signature.
All of this information should be enough for you to determine if the prospective tenant can afford the property, meet your rental criteria and will be a decent tenant.
Keep it simple and straightforward. Also be sure to keep your application form neutral in regards to the 8 federally protected classes, which are race, religion, color, national origin, age, sex, disability and familial status. Determining your applicant’s ability based on any of these criteria is just plain wrong and will land you in hot water.
Next time I will take a look at some criteria you can use to rank your applicants. Untill then, have a happy new year!
