There are probably a lot of application forms that are used in business. The main purpose of using a form is to gather essential information from the applicants. If you are a business person who is into property rental business, the most common type of form that you will be using is the lease application form. A lease or rental application form is often used to capture the complete details associated with the property for rent, as well as the person who is looking to rent or lease your property.
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Finding the Perfect Tenant
Finding the right person to rent your property can be quite hard because you will be entrusting your property to a complete stranger. That is why it is extremely important to carefully and meticulously evaluate whether the tenant has the ability to pay the monthly rental payment and can also conscientiously treat your property as if it is his own. To protect your right as well as your property, you must also prepare a lease application agreement that stipulates your terms and conditions that must be upheld and honored by the tenants.
Since there are probably hundreds of individuals and families that need a dwelling place to rent, choosing the right one(s) can be overwhelming because there are a lot of things to consider before giving them the approval to lease your property. To help you assess each lease applicant, you must provide each a lease application form and have it filled out with their essential personal information.
Importance of Using Lease Application Forms
One significance of the lease application form and the benefit that comes with using it is that it can help both parties know the type of lease application that they will both be affixing their signature on. The following details that are found below are its other benefits:
- It provides the basic personal information of both lessor and lessee. Having these details, it allows the lessor get to know about the background of a potential lessee. Additionally, you can also use these important details for financial and security purposes. Let us take, for example, because a lease application form can be a legal document, the lessee is bound to answer all the information asked in the form as honestly and accurately as he or she can, especially the section where the applicant is asked about his or her credit report.
- It gives the contracting parties a clear understanding of their rights and obligations. Depending on the type of lease application form, there are some forms that allow applicants to list down their expectation while renting the property, as well as it also allows the lessor to enumerate his terms and conditions that need to be observed by the tenant at all times, such as the number of tenants or visitors allowed in one dwelling unit.
- It spells out specific details of the lease, such as the property’s technical descriptions, monthly rental payment, the address of the property, and others.
After knowing the benefits of using a professional lease application forms, you can choose to browse for more templates to help you save time and energy when deciding which one to use. Before we proceed to the next section, we recommend downloading and using our tenant application forms. All you need to do is just click on the provided link and edit its content using the right software tools.
Things to Expect When Signing a Lease
The Signing of the Form
The form is usually prepared and provided by the property owner or the landlord. When an interested applicant wants to see the property, the landlord will schedule an appointment in which he or she can show you the house, apartment, office, or commercial space for rent. The landlord will supply a lease application form to be filled out by the applicant who is interested to rent the property.
Potential Application Payment
When the tenant decides that s/he has found the right place to rent, s/he must discuss the payment terms, security deposit fee, and other application payment. It is advisable for a potential tenant to bring a blank check to pay the agreed amount and reserve the dwelling unit. Depending on the agreement, the landlord can require the tenant to pay the first or last month’s rent and a security deposit. After paying the agreed amount, the landlord will issue an official receipt to the tenant.
The landlord will require certain documents to be submitted by the tenant after the lease application is approved for record purposes. However, the tenant does not need to submit the original copies of the documents.
Checking the Lease Agreement
Keep in mind that the lease agreement is a binding contract between you and the tenant that is why it is important to check if the agreement includes the following important details:
- The amount of the monthly rent payment
- The day of the month in which the rent is due
- The correct and verified name, address, and contact details of the tenant
- Utilities included
- Rules and regulations to be observed
If the tenant has a roommate(s), make sure that their names are also included in the lease application form. Lastly, it is essential to keep all the copies of the documents signed by you and the tenant. These can be considered as legal documents in case there are disputes that will potentially arise in the future.
Sample Lease Application Forms that You Can Download and Use as References
Residential Lease Application Form
Application for Master Lease Agreement
Property Lease/Rental Application Form
Lease Application and Accounting Information Form
Permit Lease Application Form
Space Rental Application
Application to Rent or Lease
Sample Form for Lease/Rental Application
Apartment Rental Application Form
Now that we have reached the end part of this article, make sure you get everything ready well ahead of time to help complete the application process as soon as possible. Always treat the lease application process like a job interview to help you find the perfect and trustworthy tenant. You may also want to check out our checklist templates to help and assist you.