A rental verification form is used by the landlord to verify a tenant’s current rent amount and provides proof they are under a lease. It is also used to verify the tenants’ past rental information. This form is beneficial for both the tenant and the landlord. This form is used to confirm any and all information giving throughout the entire renting process.
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The advantages of having verification forms:
During the whole renting process, it is important to fill up the Rental Verification Form, Tenant Verification Form, and Landlord Verification Form. Filling up these forms would help both the tenant and the landlord to securely rent and rent out a unit, house or apartment. Let us discuss below some benefits of these forms;
- Tenants use these verification forms to prove that they reside in an accommodation which they are renting. They require it while;
1- opening a bank account
2- applying for a loan from a bank or any other lending organization
3- they are deciding to enroll in a school
- To a federal or state assistance program, it can also be a requirement for application.
- These forms contain all the information that tenants want to know about their landlord and the property they are planning to rent.
- Landlords also find the information that they need about the tenants. The document is especially helpful in case the landlord plans to do a background check on the tenants. This verifies all the information placed in them.
- In the whole rental process, filling up these forms would be the first step. You may also like rental application forms.
Rental Verification Form:
To fill up a rental verification form is the very first step to be taken in the whole rental process. This is the most general form that has information from both parties. For tenant and landlord, renting a property and renting out a property can be a vulnerable process particularly they do not know each other. This form makes the whole process a whole lot easier. Before allowing the tenant to start using your property in exchange for rental payment, it would pave the way to be able to validate a probable tenant.
In addition, with the help of this form, the rental history of these potential tenants can also be identified. You can use it to ensure that this tenant would be the perfect person or persons to rent out to. There are various kinds of rental verification forms available online. You can be used them for a lot of reasons.
How do you make a rental verification form?
A rental verification form is an important document in renting out a unit, house or apartment. Filling up this form is important. It would provide you much required information for you to quickly evaluate potential tenants. Here are the steps to make your own rental verification template;
- At first, open software of your choice and start formatting your page. On all sides, set 1 inch margins and select your font and font size.
- Type the title of your document by using a bigger font before inserting all the other information required in a Rental Verification Form.
- For each section of your form, create 4 text boxes to sort and separate all the information.
- In the first box, fill in it as the landlord or owner of the property that is to be rented out. This box includes your name or the name of your complex. Then, it should include the address of the property that is to be rented out. Also, include a space for your contact details such as your phone and fax number as well as your email address.
- The second box would have to include a declaration or statement. According to this statement, the individual who has signed in the “Applicant” box has submitted an application in order to become able to rent your property. Also, mention the name of the rental agency and the contact number in the statement.
- The third box has to be filled out by the potential tenant. You have to leave a space for the full name of the tenant, a statement that authorize release, use of his/her information for the rental process, and the address of the property which he/she wants to rent. Additionally, there should also space for the applicant to sign and the date.
- For the tenant’s previous or current landlord, the last box is reserved to complete. At first, the landlord has to indicate whether he/she is a previous or current landlord in this box. After that, you have to ask about when the applicant moved in. Provide the date when the lease ends as well as the rent amount each month. During the whole course of the whole lease agreement, ask how many late payments or NFS the tenant has provided.
- In the end, you have to ask a few important “yes or no” questions for the landlord to answer. This provides you information regarding the tenant. Here a few questions that you should include;
1- Before the lease ended, did the tenant provide a proper notice?
2- Does the tenant have still owed any past payments?
3- At the start of the lease period, did the tenant follow all the policies which have been agreed upon?
4- Did the property have good shape?
5- Were there any legal issues relevant to the tenant?
However, you can also include other questions that you find useful for you. This is a general form that can be filled out by a number of potential applicants. You should also check rent roll templates.
In conclusion, while undergoing a rental process, it is very important to fill up a rental verification form. This form assists both the landlord and the tenant to rent a house in a secure manner. It can be used as evidence of an individual’s residence. It gives the tenant and the landlord with full information regarding the property.