TIP OF THE MONTH

October 2003

 

VERIFICATION POLCIES

Sources: (2) The Guardian Reporter and Crossett Real Estate Services

Employment: The employment verification is an important part of the screening process. This should be requested in order to confirm that the information given on the rental application is accurate and will help you make informed decisions. (Name of employer or company/phone number & address: applicants position, date of hire and salary. Does the information match?) Are you going to require a Credit Report?

Source of Income: Social Security? SSI? Hud? Agency? Student? Self employed? Amount of benefit? Who is responsible for payment? Contact person? How many persons are going to be occupying the unit/property? Number of vehicles?

Previous Landlord Verification: Another important report you will find very beneficial to your screening process.

Previous Landlord? Present Landlord? The currant Landlord may have more of a motive to give false information if the Tenant is bad and the Landlord just wants to get rid of him or her. People do not live in P.O. Boxes, so make certain you have the address and unit of the present living situation . Reason for vacating, any arrears, late payments, housekeeping skills, violations of rental terms during occupancy are just SOME of the issues to take into consideration when interviewing and reviewing the rental application.

A Residency Verification form is recommended in addition to your Rental Application. It is also a good policy to make sure the Applicant understands terms of rental and all documents/disclosures required. Communication skills should be determined as an extra step. In property management, the communication skills of all parties to the rental policies can be the most important key to success in providing affordable, quality housing in your community.

An Applicant should understand the written rental policies presented by the Manager or Owner. Any/all concerns of both parties to the contract should be addressed prior to occupancy.

 

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This web page was updated on 10/01/2003.