Real estate properties are one of the most lucrative businesses in the present. However, it is also one of the most expensive investments to build. Due to this, every landlord will always take stringent measures to ensure they make a profit and preserve their huge investment. Therefore, before allowing a tenant to rent the property, a landlord would want proof that the applicant is prepared both financially and socially to rent the house. The best tool to use is a rent/landlord verification form when it comes to verifying the tenant’s reliability. At the same time, a tenant may also use the landlord’s rent/landlord verification form to know the tenancy terms, rental units, fees/legal issues, and rental charges.
Defining Rent Verification Form
A Rent Verification Form, also known as landlord verification form, is a document issued by a landlord when verifying the tenants’ past rental information. Usually, the requesting landlord often sends the form to the prospective tenants past or a current landlord seeking to obtain information about the tenant’s tenancy. With this information, the requesting landlord will make an informed decision when choosing the best and most reliable tenant for his or her property.
When will You Need a Rental Verification
Oftentimes, it is very important to fill up the rental verification forms when undergoing a rental process. For instance, it helps both the landlord and the tenant to rent a house, an apartment in a secure manner. The following therefore are some of the benefits of having a rent verification form.
- A rent verification form can be used as proof of an individual’s residence. This information can be necessary when opening a bank account, applying for a loan from a bank or other lending institutions.
- A rent verification form may also be a necessary requirement when applying for state or federal assistance services.
- The forms also provide the tenant and the landlord with full information about the property the tenant is about to rent.
- It provides tenants with background checks. This validates the tenant’s reliability and capability to pay the rent as recommended by the landlord.
How to write a Rent (Landlord) Verification Letter
Writing a Landlord/Rent Verification Form isn’t as difficult as many believe it to be. With proper guidelines and steps, one is able to draft a verification form, even if they haven’t done it before. Therefore, if you are ready to get it done, the following steps will help you through?
First, you need to open a formatting software of your choice. This can either be Microsoft, pdf creating tools, among other software.
Then write the title of your document in bigger/bold fonts.
Below the title, you need to create two tables—one to the right and the other to the left. The first table should include the details of the previous landlord. The second table should include the details of the individual requesting the information. In both tables, be sure to include the full names, phone numbers, email addresses, and physical addresses.
This should then be followed by a statement authorizing the landlord to provide the information needed in the form. The former landlord will be requested to provide the following information:
- The monthly rental rate charged on his/her properties
- The date the tenant started and ended the lease
- Did the tenant pay his or her payments on time?
- Was the tenant evicted from your properties? If yes, explain more.
- Given a second chance, would you rent the tenant again?
- If there are any other comments, the landlord can add in the blank spaces.
Lastly, there should be a space where the landlord and the information requester write their name, date, and append their signatures after filling the form.
If you want a more open and direct rent/landlord verification form template, please don’t hesitate to download it from our site. Our templates are easy to use and to edit; hence you can always customize it to suit your preference.
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Frequently Asked Questions
Well, the Rent/Landlord verification form isn’t a mandatory requirement in the tenancy agreement. However, the decision to use it will vary from one landlord to the next. Some landlords will request to have the form so as to get rid of bad tenants.
A rent verification form is a document that gives authorization for a landlord to conduct a background check of the prospective tenant before renting the tenant. The form is often sent back to the tenants’ former landlord to obtain information related to the tenancy of the person.
Before you proceed with getting information from the previous landlord, it is important that you first seek consent from the tenant. Since you are obtaining confidential information, it is recommended that you first share with the tenant to avoid inconveniences.