5 Reasons to Always Use Rental Applications

If you’re a landlord who is not using written rental applications 100% of the time, here are 5 reasons why you should!

1. The practice makes all extra comfortable. Perhaps there was a time when a handshake and a handful of cash were all landlords needed to start a lease. But in this era of liability, lawsuits, and legal obligations, proper paperwork is just a must. And tenants expect to fill out some form of application, too. It puts them at ease that you’re a legitimate business person who will handle the landlord/tenant link professionally.
2. It can protect you from liability. Requiring a rental application from all prospective tenant over age 18, as well as the names of all family who will reside in your rental housing, could reduce your liability for accidents or injuries that occur on the rental material goods. When your rental application clearly states municipal code limits on number of residents, give somebody their cards code regulations, and emergency contacts for all tenant, you are extra protected in cases of emergency.
3. It can protect your rental business from a discrimination lawsuit. Collecting the same in rank from every prospective tenant, then using the same criteria to choose all tenant, ensures that you are within the guidelines for discrimination laws. If you just have a discussion to prospective tenants, and choose one based on whoever is most able to pay the rent, you could be setting yourself up for a lawsuit. A lawyer for a rejected applicant might have a fantastic case, in view of the fact that you’d have no documentation as to why you chose a particular tenant. When you have paperwork like applications and credit reports to back up your choice, you’re covered.
4. You can gather the in rank you need to perform a thorough tenant screening. Rental applications should contain name, pocket up, previous addresses, employment in rank, social security numbers, driver’s ticket numbers, and all contact in rank. They should also contain a signature page authorizing you to pull tenant credit reports and tenant criminal background screening reports.
5. You get a commitment from a prospective tenant. When landlords show apartments and rental houses, they too regularly let a fantastic prospect get away. Presenting the prospective tenant with an application form and request for security deposit to “hold” the rental unit is a excellent way to get a commitment. Then, you can do a tenant screening to confirm he or she meets your criteria before signing a lease or rental agreement.

Legal disclaimer:
The contents of this article are intended for general in rank purposes only, and should not be relied upon as a substitute for obtaining legal advice applicable to your situation.