What is a Rental Application Form and Why do You Need to Fill it?

In a competitive real estate market, you need to be ready to immediately fill out a rental application form in order to beat other applicants. If you just viewed a property and you liked it a lot, you shouldn’t delay and fill out the form for that property before anyone else does.

Are you wondering what a rental form is? Don’t worry. This article is meant for those who are new to the world of renting properties and rental application forms in Edmonton.

Firstly, let’s understand…

What is a Rental Application Form?

This form is a type of document that you will have to fill up whenever you are interested in renting a particular property in Edmonton. This document will contain all the necessary information that the landlord and the governing body might want to know.

Who Should Fill Out the Form?

The tenants who will be paying the rent are not the only people who must fill the rental application form. Every adult who will be living in the rental property, and sometimes, even adults who won’t be living there, will need to fill a form. The question of who needs to fill out a rental application often comes up when more than one person will be living in the rental property or when co-signers will be part of the deal. Anyone who isn’t living in the home but who is co-signing the lease should fill out a rental application.

Here are some of the scenarios where multiple people need to fill and sign rental application forms:

• Parents living with college-age kids: Each parent as well as the college-age kids need to fill the form.
• Parents co-signing for college kids: Each parent co-signing for their kids, college kids, and every other college kid who will be sharing the property need to fill the form.
• Parents with minor children: Only the parents have to fill the forms.
• Parents with adult children: Irrespective of who will pay the rent, each parent as well as adult kid needs to fill the form.
• One working person out of two tenants: Both need to fill the form.
• Changing roommates: Every roommate needs to fill the form, even the new ones who replace the older ones.

What is the Purpose of Filling This Form?

To Inform Landlords What You Are Looking For

When you fill up a residential rental application form and submit it, you are letting the landlord know that you are interested in their property. Accordingly, the landlord will get in touch with you to take the process ahead from there. If you fill multiple forms for different properties, you will also know which properties you shortlisted for yourself.

To Give Access to Your Details

When you fill a rental application form, you will need to provide your name and contact information, including your current address. Most applications ask for your secondary source of income, residential history, employment status, vehicle information, etc. When you share these details with the landlord, they get a complete overview about you and your background.

To Ease the Background Check Process

Most rental application forms have a section where you are supposed to mention your criminal and credit records if any. In case the landlords want to conduct background and credit checks and know more about your records, they can do it easily as they have access to all your details. While filling the application form, you also authorize them to use your details and conduct any checks if required. If you don’t fill out this form and if the landlord needs to conduct background checks, a lot of back and forth will be required for the details and information.

To Get the Residential Property

Based on the information you share with the landlord through the form, the landlord can decide whether you are eligible for the property or not. They can get in touch with your past landlords and find out what type of tenant you were in the past. Also, they can contact your employer to find out if you have lied about your employment and salary. The form not only tells them about your criminal record but also gives a gist of your current financial status (like whether you have any financial obligations for the future). Based on these two major considerations, the landlord can decide if you will get the rental property or not.

To Let the Landlord Know Who’s Living

The reason why every party, whether tenants who will live in the house or the co-signers, have to fill a rental application form is to let the landlord and others know who is living in the property and who isn’t. By sharing every detail about yourself, when you are a tenant or a co-signer, you are giving access to more information to the landlord. This way, if any problem arises in the future, the landlord will have more people to get in touch with. Likewise, more people will be authorized to get in touch with the landlord in case they need help. The landlord will know the difference between the way they need to communicate with the tenant and the co-signer.

Before you actually go ahead and fill a rental application form for your next residential rental property, you can practice with this sample application form. Your rental application looks exactly like this. In case you have any doubts about the same or need any assistance for moving ahead with the form or a property, you can reach out to Rental Advisors.