Rental forms are needed to keep records of tenants and ensure a rental agreement between the tenant and the landlord. The rental agreement consists of the conditions related to the house, the rent, and the rental contract. In all cases, the tenant and the landlord need to agree with each other. This is where the rental form comes into play. Here, the landlord gets information related to a potential tenant’s rental history.
In this article, you will learn about rental forms in general. Apart from that, you will also learn how rental forms work. Furthermore, you will also learn about the importance of rental forms and why they are necessary to get records. Finally, you will also learn what are the constituents of a rental application form. Hence, to learn more about rental forms in general, read on through to the end of the article.
What Are Rental Forms?
According to Forms.app,
“Using rental forms is an excellent option for you if you are a landlord and looking for a suitable tenant for your home. With the rental form, you can understand whether the tenants are proper for you, and you can make your choice according to the results of the form. Background check is one of the significant features of rental forms.”
Hence, you can see from here that rental forms allow landlords to do a background check on potential tenants. With such forms, landlords get an idea of the tenant’s rental history. Based on the history, the landlord decides whether to allow the tenant to use the space on rent. The landlord also gets information about the tenant’s reliability.
However, in the rental application process, there are other forms used as well. These are:
- Lease agreement form
- Move-In/Out checklists
- Rental application form
- Inspection report forms
- Other rental documents
After the tenant fills out the rental form and submits it to the landlord, the landlord decides whether she/he will lease the space to the tenant or not. The landlord decides based on the information at hand, as well as the tenant’s rental history.
Once the landlord is okay with the tenant’s information, then both the tenant and the landlord need to sign the lease agreement associated with the rented space. The lease agreement is also known as the tenancy agreement or rental contract.
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Rental Forms: Why Are They Necessary To Keep Records?
Rental forms are necessary to start a rental agreement. This is because the rental form helps to maintain the record that the tenant claimed. The record will allow the landlord to trace the past and check older records in case of need. By keeping your records, you can make your tenancy more manageable not only for your business life but also helpful for the tenant.
According to LegalZoom.com,
“Most rental agreements are short-term agreements, such as month-to-month tenancies, while lease agreements are usually for longer rental periods, such as six months, a year, or more. A rental agreement is a good idea if you want to make sure your tenant is reliable or if you’re renting a room in a house in which you’re living.”
The rental form helps the landlord decide whether to allow the tenant to use the space or not. After that, both sign the lease agreement. The lease agreement allows the tenant to rent the residential property in exchange for regular payments that the tenant pays to the landlord.
The lease agreement also explains the rights and obligations of both the landlord and the tenant during the rental term. The agreement also contains information about the fees and payments, property use, home improvements, and maintenance.
What Are Included In A Rental Form?
According to RentSpree.com,
“A rental application is a document collecting information and the data it demands should represent the ability of the applicant to rent out land. It is therefore critical that the requested information is lawful and specific. There are five key parts in the standard rental application: personal information, history of residency, employment/income, references, and miscellaneous. The order and questions can differ depending on the program.”
The following are the essential details of a rental application form:
1. Personal Information
It contains the personal information of the applicant who wants to be a tenant. These include personally identifiable information (PII) and hence are very sensitive. Some of the things here include the Name of the applicant, SSN, details of other occupants, date of birth, phone number, and other details.
2. Property Details
The rental application form also contains details regarding the vacant rental property. This information is essential to make sure that the landlord is on the same page as the applicant. It will also help you to ensure that your details are organized, especially if you are working with more than one vacancy and other applicants. The application also contains details about the property.
3. Residence History
The form also contains the residence history of the applicant, which you need to review. It is central to making a decision that you have about the applicant who was to become a tenant. This will help you gather details of what to expect from the potential tenant who wants to rent your place.
Here are the pieces of information it will contain:
- Type of residence
- The current address of the applicant
- Move-in and move-out dates
- Name of the landlord and contact information
- Why is the applicant moving out of the space?
4. Employment And Income
You will need to know these details to find out whether the applicant makes enough money to cover the rent. Furthermore, you will also need to learn the details of the applicant regarding income stability and whether the applicant is looking to change employment or not.
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Wrapping Up
Hope this article was helpful for you in getting enough details about what rental forms are. You have learned the importance of rental forms in a rental application and why the tenant and the landlord need to take this seriously.
Learning the constituents of rental forms will help you prepare them and find out what information you need from a tenant applicant. Do you have more information to add regarding rental forms? Share your information with us in the comments section below.
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