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 Entering into a rental agreement with a new tenant should be viewed in much the same way as loaning someone the use of your own home -- or a great deal of money.
Like banks and other lenders, rental property owners must be sure that the person they do business with is worthy of that kind of trust and credit. Property owners can and should require that prospective tenants complete and sign rental applications and authorize checking the accuracy of the information provided. They should also request authorization to use credit- reporting services.
1. Applications should always be given to any and all of those who wish to apply.
2. Failure to provide applications to all prospective tenants may be viewed as a discriminatory act under the fair housing laws.
3. The form should request at least the following information of applicants (and co-applicants, if any):
- Name and current address
- Co-Applicant
- Drivers License and Social security numbers: It is also useful to ask to see and make copies of the applicant's driver's license and Social Security card to verify identity, signature, and current address.
- Present landlord's name and telephone number
- How long at current address and reason for moving
- Previous address
- Previous landlord
- Name, address and phone number of the applicant's most recent employers
- Wages, salary, benefits and length of time employed
- The names and ages of all those who will be occupants of the unit.
- Credit cards and bank accounts, including name of bank and account number(s) Ask prospects for a bank account deposit slip. This is a good way to verify account number, bank address, and current home address.
- Information on the applicant's creditors, including name of creditor, account balance, and monthly payments. Authorization to verify all information and order a credit report.
- Signature and date.
Note
Every adult occupant should complete his or her own application.
Fee
The landlord can charge a reasonable fee to cover the cost of reviewing the application, verifying information and the actual cost of a credit report. (usually $25 to $35), there may be other costs, including the cost of time spent contacting the previous landlord and employer, and verifying the bank balance. This could amount to another $15 to $25. Local laws and customs may dictate, but in absence of any rules to the contrary, a fee of $25 to $50 is generally considered to be a reasonable fee.
Save Applications
The applications of all prospective tenants should be kept for three years. Keeping the application will ensure that the landlord has good evidence if a rejected tenant later decides to bring a lawsuit or complaint charging housing discrimination.
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