Finding a great tenant is getting more difficult these days, especially if you do not know the tricks of the trade. Your apartment application lease form can be an incredible resource in your search for well-mannered, timely paying tenants. Here is what you need to know.
Previous Renting Experience
People with more experience in anything are much more likely to do that thing well. The same goes for renting. You may not even want to rent to a homeowner over a lifetime renter, as a matter of fact. Not only will a lifetime renter understand the nuances of the process, but a previous homeowner who has to downgrade into renting may also be having trouble with his or her finances. This is something that you definitely do not want to deal with, as they may have very expensive mortgages hanging over their heads.
Renting to people with families or significant others is a much better bet than renting to single people. People who are latched into a relationship tend to showcase more responsibility in other areas of life. Keep in mind the relationship does not have to be legal (as in marriage). You should word the question in a way that will allow the applicant to showcase any long-term relationships. Many couples today are not getting married, and you do not want to miss out on this opportunity just because your application lease form is behind the times.
Money in the Bank
This question is the deal-breaker. You can and should require bank statements along with your application lease form. These bank statements should showcase proof of income as well as savings for at least six months of rent. The industry standard is to lease only to those people with the ability to rent the place three times. You do not have to stick to this rule hard and fast, but it is definitely a good guideline to follow if you have no others.
There is a very important reason that job applications and resumes leave a space for hobbies. Not only do they tell you more about a person, but the question also lets you know the expendable income that a person has. Hobbies tend to cost money. People with more expensive hobbies are more likely to pay their other bills on time.
You will likely modify the particulars of your apartment application lease form to your individual needs, but the tips above will get you started on good footing. Make sure that you stick to your guns once you have them drawn with your application process, and you should have a much easier time collecting and administrating!