Why a Rental Application is important!

Once you have a market tenant or a go section 8 tenant in your rental property you are, for lack of a more politically correct way of saying this… stuck with them. Keeping this in mind, there are a few things you can do to improve the quality of future tenants and help you collect from those tenants who end up owing you money or trying to figure out how to write a 30 day notice.

If you have to evict someone and you go through all the trouble of getting a judgment, you should have the information available in your files to help you collect on that judgment.

In order to help you collect on a judgment , you will need some key information in your file and a bullet proof fixed lease rental lease agreement or a month to month rental agreement. A simple rental agreement or generic lease agreement just won’t work. Instead of using a Generic Lease Agreement / Simple Rental Agreement you would be better off viewing our article on how to start a property management company. It is very important to keep in mind that the only time you can collect this information, is when the tenant completes a rental application pdf, Word or Online Form. Therefore, use a comprehensive Rental Application PDF.

To protect yourself, you should ask for the following information in your rental application pdf:

• Complete two year rental and employment history for all applicants; get addresses and phone numbers for all employers and former landlords.
• Current mailing address, date of birth, social security number and marital status of all adult applicants. The full names and ages of all underage occupants.
• Waiver by Applicant which provides that you can use the formation for verification and for purposes of collection, if necessary
• At least one non-resident contact for each applicant should you need to notify someone of an emergency or you need to locate the tenant.

If things go wrong, and you are prepared, you have a better chance of recovering your loss and keep profits up.…but only if you can find and serve the tenant and garnish the tenant’s wages.

Remember that your judgment is effective for 5 years, renewable indefinitely and accrues interest at the legal rate.

Don’t throw your money away. Use a complete rental application pdf and keep good records. With proper notice, you can renew your old judgments and garnish if you know where your tenant works.

See our post on how to write a 30 day notice.

This is NOT the NEATO Landlord form rental application. 

This is a previous 2009 version. For the current version please purchase the NEATO Landlord forms package.

 

*************************************** FREE

Free Rental Application 2009 Version

FREE ***************************************