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.
Table of Contents
- 1 What is a rent verification form?
- 2 The advantages of having verification forms:
- 3 Rental Verification Form:
- 4 Landlord verification form:
- 5 Tenant verification form:
- 6 How do you make a rental verification form?
- 7 How to create a tenant verification form?
- 8 How to create a landlord verification form?
- 9 Conclusion:
- 10 Faqs (Frequently Asked Questions)
What is a rent verification form?
A rent verification form is a formal document issued by the landlord while verifying the past rental information of the tenant. This document is also referred as a landlord verification form. This verification form is sent by the requesting landlord to the prospective tenant’s past or current landlord in order to get the details regarding the tenancy of the tenant.
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.
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 tenants and landlords, 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.
Landlord verification form:
More useful information can be received from the tenant’s previous landlord while performing a background check on potential tenants. It would be better to communicate with writing instead of phone. Most landlords prefer the previous owner of the tenant’s last property in order to find good and dependable tenants who are capable to pay their rent on time and keep the rented property in good condition.
Furthermore, it is important for landlords while screening potential renters to do comprehensive background checks. This way, you make sure that tenants will not cause any problems to you or your property.
Tenant verification form:
A tenant verification form is submitted to the landlord or owner of the property and consists of questions that the tenants have to fill out before renting a property. The document is important for verifying the identity and dependability of the potential tenants. The tenants have to provide all accurate details in the form. This is essential so that when a background check is completed the landlord will confirm everything and the entire process will be completed.
For landlords, this document proves the most ideal security defense as by having this form you can find the best tenants to rent out the unit.
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 authorizes the release, the 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 a 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.
How to create a tenant verification form?
Here are the steps to follow for making your own template;
- At first, open the software of your choice. Then, start formatting your page by setting 1- inch margins on all sides.
- Next, select the fonts and their size and use the bigger font for the title of your document.
- The tenant verification form consists of 4 sections. It’s up to you whether you make boxes for them or you can use headings to highlight each section.
- In the first section, place all the basic information like the Applicant’s name, his/her father’s name, date of birth, occupation and contact details, work numbers, and email address.
- In the second section, provide all the details of the tenancy. Here, the first thing you need to do is to provide space for the tenancy agreement detail. After that, insert a space for the address of the property, the terms of the agreement, the length of the tenancy period, and the contact details of the tenant.
- Next, there comes a third section where you have to provide the bank account information. Provide the space for the following details;
1- The name of the bank
2- The account type
3- Details when the account was opened
4- Minimum and maximum transactions
5- The average balance - In the last section, provide the following details;
1- The income assessment
2- The years included
3- Tax information
4- EMIs
5- Balance income and score
6- The observation
How to create a landlord verification form?
Here are the steps for creating a landlord verification form;
- At first, open the software of your choice. Then, start formatting your page by setting 1- inch margins on all sides.
- Next, select the fonts and their size and use the bigger font for the title of your document.
- On the top portion, make 2 tables to specify the details about the previous landlord and the person or agent requesting for the details. In the first table, include information like the name of the owner of the property and the contact details. The second table should contain the details such as the name of the leasing agent or the person requesting for the information and their contact details.
- After that, include a statement that authorizes the landlord to fill up the form and provide the agent or requesting party all the details required in the form. You should also here leave a space for the applicant’s name, signature, and date.
- Now, the previous or current landlord has to fill up the details. They need to provide the most basic information which includes;
1- The monthly rental rate
2- The lease term’s start and end dates
3- Yes or no questions
4- A section for additional comments
5- The landlord’s name and signature
6- The verifier’s name, signature, and date
Conclusion:
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.
Faqs (Frequently Asked Questions)
A landlord residency affidavit is a declaration stating that a person resides at a specific place. That’s why, it can be used as evidence of residency.
It is essential that you first seek consent from the tenant before proceeding with obtaining information from the previous landlord. First share information with the tenant to avoid insolvencies as you are getting confidential information.
Grace Harry is an experienced freelance writer with an experience for 12+ years. She got her Master’s in Financial Management degree from the University of Dennison in 2007. She worked at California State Bank to help clients with their credit, investments, and bank accounts. She likes to assist people in reaching their financial goals when it comes to financial planning.
