Sign Missouri Banking Rental Application Free

Industry sign banking missouri rental application free

hey guys Cameron Norfleet twenty-one all points Realty we're gonna be talking today about the rental application the original application is one of the most important parts of the tenant screening process this is where you're going to gather all the information that you're going to that you're going to need or most of the information that you're going to need to make your decision on whether or not you are going to rent to this person okay so we'll be talking about a few things that definitely should be on your rental application and I must going to go over what I have on my route to application I really don't suggest to ever just download an application from online or to go to your local office supply store and purchase a rental application those applications are there just no good they don't really give you the information that you need and they don't give you the coverage that you need for liability purposes so first let's talk about a few disclosures that you want to make sure that you have on your rental application so now I charge a rental application fee all right so I need to make sure any of you are charging every two application fee you want to make sure that you also are disclosing the fact that there is a rental application fee on that application all right so that's one thing that you want to disclose you also want to get permission to contact people that they have on the on the application so you want to ask for references you want to ask for job references personal references emergency contacts I asked for emergency contacts on mine and you want to get their permission on the rental application to contact these people it's you have to remember this is a very litigious society that we live in so people will see you for just about anything so you want to make sure you get that permission on there over to application to contact these people with that said you also want to get extended authorization to contact these people in to stay in contact with these people if necessary to collect on debt or what-have-you so for instance you know if your tenant disappears in the middle of the night you want to be able to have that permission in the beginning so that you can contact their emergency contacts so that you can contact their personal references to find out where this person is and so on and so forth okay so you want to make sure that you get that extended authorization as well you want to also make sure that you are notifying they put the the applicant that you are going to be getting a consumer report okay so you're going to be running a credit check you'll be running a background and hopefully you guys are doing these things but you want to get their authorization to do all that and you want to get their release of information so that so that they are basically giving the people that you are seeking information for from you want to make sure that they are giving permission from from them or for them to give you that information you also want to get the applicants assurance basically what that is is they are guaranteeing that the information they provide on the application is true and accurate to the best of their knowledge okay so you want to get that applicants assurance you also want to get a release of liability or a hold harmless on the application so basically if you end up contacting the the the applicants employer or past landlord are currently in Lourdes and they're currently in order gets upset and now they are trying to evict them or their employer gets upset for one reason or another they can't hold you liable for you seeking that information one thing that I do is I take a deposit to hold that apartment or that house when the tenant is approved so I disclose that I will be keeping that deposit to hold and then that will eventually turn over into their security deposit but you have to disclose that on your interpretation as well or at least you should you also want to give the move-in requirements okay so after after they are approved what is what is to be expected I know that it sounds like a lot to put it on the rental application but I'll show you exactly how I go about doing it and it is actually pretty easy all right but you want to make sure that that you give them a brief a brief understanding of what will take place after they are approved even during the process okay so what is the process from here after they submit their application what is the process from there okay how long should they expect to be approved or denied okay these are things that you should be disclosing on your rental application and of course grounds for denial all right so for instance from me I don't accept any one with a credit score under X amount okay and there are a few things that I look for as far as specific criminal activity that I look for and if if if the tenant meets that criteria or they have crossed these criminal boundaries I let them know you are not even a candidate in my eyes don't even apply alright so on so these are things that you also want to you want to disclose so they're not wasting the $30.00 and you're not going to find yourself in court so what that said let's actually take a look at my application so on my application you'll see here I have it too whereas the tenant has to each adult has to apply for the app for the the apartment of the house separately okay so each person is going to fill out this entire application separately at least each adult well alright so before they even start you'll see this right here it's the application process and qualification standards this is where I let them know exactly what I am looking for so there is no excuse and and there is nothing that they can really say when they get denied they can't say well you didn't tell me that I have to have this credit score you didn't tell me that you know well you know yes I have this issue but you never said that that that's gonna disqualify me it's all right here okay so um this is once again the application process and coffee qualification standards I'll go really briefly over here so you see exactly what this looks like and I got this template basically from Brandon Turner's book that is the book on managing rental properties by BiggerPockets I definitely recommend this book excellent excellent book I recommend this to any landlord it's an excellent book and that's where I got this template from before I read this this book I did not have any of this here okay um but this is you know if you want to pause and look over it than that that's perfectly fine but this is this is basically what I use to to to let the tennis know exactly what I look for in a tenant alright so we'll go back over to the rental application and you'll see okay so first things first we get the tenants name the property that they're looking for because I may have more than one property that's listed at a time their birth date phone numbers email address social security number that's so I can do the background checks and all that driver's license state that their driver's license was issued in do they smoke I do not rent to smokers okay so and that's also on on my application as well so their current address monthly rent amounts complex name and all that good stuff the landlord's name that that's their current landlord and why they are leaving you definitely want to understand why they're leaving and you want to confirm that with their landlord and as a side know and I'll do another video on this and at a later date but you definitely want to contact the landlord and get information on the tenant I have a list of questions that I go over and again I can do another video on that at another time but I have a list of questions that I asked well but a few of those questions that I asked are personal questions to the landlord okay because what you'll find a lot of times is that they'll put in you know right here where it says landlord manager's name they'll put in their cousin's name and phone number and so on and so forth whereas it's not the actual landlord and of course they're going to give you you know that person's going to give you a great review because it's their best friend or their brother sister cousin what-have-you all right um so what I do is I ask for more information that your average person is not going to know okay so when did they buy the property how much did they pay for the property um there's a few questions that I asked that the owner of the property will know okay and just your average person is not going to know unless they've done the research and all that is found in public records but that's just a quick little snippet a little snip tip of things that I do on the side but like I said I can do another video on that at another time rental history so I would like to get at least three years of rental history employment I want to know that they're working I want to know where they work their employers name and so on and so forth and yes I do contact employers to verify the supervisors name phone number all that good stuff here all right you can see all this I'm going to fast alright um have you ever been evicted I don't like to rent to people that have been evicted so you know but we can go over that at another time have you been have you ever had a foreclosure or repossession the way I see it is if you have had a foreclosure a repossession or if you've been evicted these are things that you need in life okay so you know I can understand some credit card debt I can understand medical bills things of that nature but like I said when you're letting go things that you need in life your your cars getting repossessed you you've been evicted you've been foreclosed on again now this doesn't tell me the big picture this doesn't tell me everything about you but it does give me a little bit more insight as to the type of person that you are and how responsible you are again not the big picture doesn't tell me everything and I don't make my decisions solely based on that but it does give you a pretty good idea of who this person is all right so you see here the rest of the things that I have on my rental application and the client the the prospect has to fill out this entire application before before it even sends me the email okay and as a side note again I go through building that's my property management software excellent excellent software I I really like building and so we have reference name I have two references or I asked for two references here and then I go on to emergency contacts who am I going to contact in the case of an emergency roommates anyone that is going to be living in the property I want their name and I want to know if they smoke or not okay so they can the prospect can add more people here and so on you know depending on how many people that that are planning to move in do you have any pets and you see here that I have animals a lot people don't consider emotional support pets or emotional support animals they don't consider them as pets so they won't write them here because they'll say I don't have a pet I have an emotional support dog or emotional support cat or whatever the case is all right um so general this is just you know when they're planning to move in to the to the property vehicles how many vehicles do you have and then I have my terms and conditions and again you can pause the video if you'd like to look over this and then finally this is where they agree to the the application so this is my application process and a few things that I recommend for you guys on your app your application process so if you feel that this video was somewhat informative feel free to hit that like button and feel free to subscribe if you want more information and more educational videos but that's all I have for today thank you for your time and make it a great day