Why do Tenants Have to Provide so Much information on an Application?
When you’re trying to rent a home for yourself and your family, you’re usually asked to fill in an Application To Rent form. The information collected on the form is protected by privacy laws and can’t be used for anything other than its intended purpose which is to determine if you are a suitable tenant. But why does the Landlord need all this information on an application?
Information on an application
CREDIT CHECKS. Providing the basics is just common sense – your name, birthdate and current address are used to obtain a current credit report. If you’ve got bad credit, the Landlord is likely going to find out so you might as well be up front about it. It doesn’t always have to be the key determining factor on whether or not you are accepted, but you should be prepared to answer some questions if your credit history is less than sparkling. If you’re able to explain what caused the situation and show it hasn’t been repeated, a Landlord may sometimes overlook poor credit, particularly if it’s not recent.
LANDLORD REFERENCES. Your potential new Landlord is going to want to talk to your current and possibly previous Landlords depending on how long you’ve been at your current residence. If you’ve always owned your home and are now getting into the rental market, the Landlord may instead want to speak with your REALTOR®. These references can provide valuable insight into things such as if you pay the rent on time, how well you look after your home or if there are problems with noise and disturbances.
EMPLOYMENT & INCOME. The Landlord needs to be able to verify you are employed, and have the financial ability to pay the rent. If you’re a student, are on disability or are retired, they need to see how you plan to pay the rent. Without this information your application likely won’t be accepted. It’s not that they’re trying to be nosy, they just need to be able to confirm you have enough monthly income to pay the rent, as well as your other bills. Rent can often be the first thing that’s left unpaid if money is tight, so Landlords need to be sure this won’t be an issue.
PERSONAL CHARACTER REFERENCES. These give the Landlord a good idea about the type of person you are and whether or not you’ll be a good fit at the property. Personal references often give the Landlord little tidbits of information which may not seem important, but can actually tell the Landlord a lot about you.
RE/MAX of Nanaimo Property Management
At RE/MAX Rental Pros, we thoroughly screen our tenants to ensure the best fit at each rental property. And while we act as the Landlord’s agent, we also take care to professionally and respectfully handle all aspects of the application process with potential new tenants. [su_divider]
If you are looking for a quality rental in Nanaimo, please call our office at (250) 751-1223.
