What Is a Residential Verification? [ Types, Importance, Samples ]

Graduates, business-minded people, and even college dropouts are some of the individuals who owe or have a loan to pay within a stated duration. Most of the reasons for applying a loan is due to independence and the goals of being wealthy.

However, with the statistics of loan borrowers rising every year, governments, as well as loan providers, aim to assure that they will be paid back or that they will grant the right loan to the appropriate people. With this, legal forms which may prove an individual’s identity became a necessary requirement for efficient loan approval in the duration of a loan application.

Residential Verification Form Sample

One process which can aid any agency and organization to verify and validate an identity is a residential verification process. This will need a specific document which is a residential verification form to acquire the important and relevant information about an individual or an applicant.

This form will center on the address and the citizenship of the applicant which should support all other documents such as his driver’s license, identification cards, valid firearm bill of sale documents, and his transcripts or school records.

By using this form, landlords, managers, employers, school administrators, sponsors, and the state office members will be able to determine and check if an individual is stating and claiming a true and valid address or property.

Verification of Residency Form

Types of Residential Verification Forms

Filling out the right type of verification form is essential as it is a requirement for a process to begin. There are also instances when the verification form will signify that an application has been on hold due to the need of validating the data of an individual. Nonetheless, the listed varieties will aid you in choosing the appropriate form and will introduce you to other vital types as well:

Applicant Residential Verification Form – In the field of employment, this verification form will serve a great purpose in assuring that the stated address of an applicant is true. The importance of validating an applicant and an employee’s address is due to the need for employers to track their employees especially in the midst of an absence and a disciplinary action for an employee violation.

The verification also allows a company and the employers to check whether an applicant has been reported to any criminal complaint in the local or national police.

Applicant Residential Verification Form

Athlete Residential Verification Form – This document is important to coaches and those who are involved in sports competitions since it will aid in determining if an athlete is playing under the appropriate district. In some sports regulations, an athlete’s address or stated residence will be considered as an unchangeable aspect unless a legal change of address is presented by the athlete’s guardian.

If the athlete has stated a false information in the verification form, one of the verdicts which he may face is a suspension from performing his skills and being part of a competition.

The location of the athlete’s residency should also be included in his emergency contact information to allow the sports organization in knowing where to send the athlete in the event of an incident.

Athlete Residential Verification Form

Group Residential Housing Verification Form – Before a housing loan agreement will be signed by an individual or a borrower, he needs to undergo a variety of processes to satisfy the requirements of a loan provider. With this, a residential housing verification form will be the right document to use especially for the purpose of checking the accuracy and to know if the borrower surely used the loan for building or founding a house.

This form will indicate whether the statements of the borrower have matched with the records of the provider, the number of people who are living in the residence, the borrower’s source of income, the specified program where the borrower is enrolled, as well as the information of the loan provider and its agent who handled and managed the loan application process or verification of the borrower.

Group Residential Housing Verification Form

Homeowners Residential Verification Form – Compared to all the aforementioned forms in the list, a homeowners residential verification form is only allowed for the landlord and not by any other party to fill out the document. This is due to the need of the property management agency to acquire the information directly from the statements of the landlord.

The first section of this form will state an acknowledgment and a letter of consent that signifies the approval of a tenant for an investigation with regards to his residential address. The tenant’s move-in and move-out date will also be found in form as well as the information of whether the tenant had an outstanding balance of his failed rental responsibilities and payments.

When a landlord decides to allow a tenant in re-renting his property, he must state it on the form to notify the agency about the tenant’s positive attitude with regards to paying on time and promoting a well-balanced relationship between the landlord and the rest of the neighborhood.

Homeowners Residential Verification Form

Specialized Residential Transfer Verification Form – This is a form which centers on the location and the relocation of an individual who needs special treatments or those who have a mental illness. The form will have the general information of the resident, the place where he will be transferred, the reason why the transfer will be needed, the date when the transfer will occur, the doctor’s notes and diagnoses about the resident, as well as the statement that indicates whether the resident has an accompanying guardian or he will be on his own after the transfer.

The resident’s insurance coverage will also be verified on the form to analyze the coverage which should benefit and must be granted during the transferring process. Additionally, the contact information of the referral agency should be written and enclosed with the form to assure that the agency who referred is a legit organization who has an expertise in the illness of the resident.

Specialized Residential Transfer Verification Form

University Residential Verification Form – Tardiness is one of the habits which school administrators and professors do not allow to their students. This is why a university residential verification form will be presented to the parents as a tool to fully inform the administration about their address and put the parents into account for the possibility of the student’s tardiness if it becomes a chronic behavior.

An income statement, electricity bill, and a copy of the parents’ tax returns should be attached for the completion of the form. These documents will prove that a student is indeed staying with his parents’ residence. However, there are also some universities who will only accept students whose address or residency is a few meters or within a stated radius away from the campus regardless of the proofs being presented by the parents.

University Residential Verification Form

Why Is a Residential Verification Form Important?

A residential verification form is important in order to meet the standards and requirements of a state’s regulations. The verification form also aids the selection process for scholarships by means of determining if a scholar will truly need a financial assistance, and for a job application by validating if an applicant’s address or residency will not become a hindrance for his attendance. In other fields and sectors of the industry, the form will aid in correcting erroneous data such as a change of address due to a regulated relocation required by the state.

The form will serve a huge purpose especially for acquiring licenses since the verified address or stated residency will determine which specific government branch an individual should submit and process his application. It will also be a tool for allowing students to stay in the campus’ as their temporary residential location with the representation of a custody agreement signed by the parents.

Residential Property Verification Form

What’s Included In a Residential Verification Form?

With the intention of a verification form to validate an information, a statement which indicates a release of information will be included in the document in order to allow the authorized people to do an assessment and to check an individual’s data.

However, the release will need the signature of the individual who signed the form to signify an approval. The coverage of the release may include the permission of granting the authorized people access to the individual’s address and all other legal documents which will support his residential claims.

DC Residency Verification Form

Another inclusion in this form is the indication of a penalty for false information. This is vital to allow the user of the form to be fully informed about the state’s laws and penalties with regards to false data claims and personal statements. Various fines and cases which may end to an imprisonment may be some of the known penalties for this unlawful action.

Mistakes and errors are common but should be omitted when filling out legal forms as it may become a reason why processing a transaction will be lengthy and time-consuming. However, in the event that a piece of information is an error or a mistake written by the person who filled it out, it should be corrected with another verification form to assure accuracy and a correct record.