What is a Rental Verification Form? [ importance ]

Verification forms are not only for companies and employers but also for landlords and property owners who aim to protect their business from being scammed by fake renters. Due to the evolving knowledge of scamming and hacking identities, property owners are becoming for vigilant for renting their properties out to various people.

Specifically, a rental verification form is the needed document for landlords and even the employees of a prospective tenant. The form is used for verifying the tenancy history of the tenant and his employment records. This verification form may have different names and titles depending on the main intention and the recipient of the form.

The importance of a rental verification form will range from gathering adequate information of the renter up to determine whether he is a responsible person for a lease. Mortgage lenders also require this form as a proof of rent together with a duplicate of the lease agreement and other necessary documents. Landlords who use this type of form achieved an advantage and will be facing an easy way of screening their tenants since the form will be a tool for the landlords to choose a qualified tenant. Some landlords and letting agents prefer to present a verification request before demanding for the tenant’s information. This is for courtesy purposes and to show the tenant that he has the right to decline from filling out the document.

The sections found in a rental verification form are likely similar to a job application form, however, it will focus on the previous residency information of the tenant rather than the achievements of his previous employment. Other sections of the form include the following:

• The information of the prospective tenant. This includes the name and current residence of the applicant.

• The names of people living together with the tenant. This is for tenants who have families to live together with them or those who have partners in the house.

• The rental history. This will have the data about the tenant’s previous residences, a length of residency, an amount of rent, and the contact information of the tenant’s previous landlords.

• Tenant’s employment background. This area is vital to inform the landlord that a tenant is currently employed and will be able to supply the rent payments on time without too many excuses. The landlord may need pieces of evidence for this area as a proof of the tenant’s financial status such as a financial statement or any document to prove the tenant’s capability to provide a constant payment.

• Tenant’s signature. The tenant must affix his signature to signify that he is stating facts and actual amounts and statements on the verification form.

Though asking for any verification form from a tenant may demand both of the parties to provide and allocate ample amount of time, it should always be mandated to assure that there are no false identities carried by the tenant. The form does not only provides an assurance but also serves as a proof to the landlord that a tenant is trustworthy and worth the respect.