Begin the rent review process by reviewing the potential tenant`s rent history section in the initial application. Do you notice any gaps in your rental history report? If there are significant interruptions in the rental, ask your applicant about it, as there may be an acceptable reason for these gaps in the tenancy. For example, the applicant may have decided to return to live with their parents to save money. Now that we`ve covered the basics of a rental history report, let`s take a look at seven crucial steps in the rent review process and learn why this aspect of selecting a tenant is critical to the owner`s success. Many apps have integrated it directly into the app. Feel free to enter our free rental app here. To learn more about your potential tenant`s rental history, you need to collect the applicant`s previous rental information: Home / What is a rental review (is checking the rental history important?) Some of the most common types of rental housing include: While new tenants don`t have a rental history, you don`t necessarily have to disqualify them as a potential tenant. It`s important to note that the lack of a rental or credit history doesn`t necessarily mean an applicant won`t make a good tenant. Checking the rent history can help you make the right decision for your rental property. Your tenant`s past behavior in a rental building can be a good predictor of their future behavior if you decide to rent to them. Do your research, check the rental history and choose the right tenant for your property. Once you`ve received the requests and gathered the information you needed, you can start looking at a potential tenant`s rental history in a few more steps. It might be useful to include this requirement in the first rental list.

This way, you can start sorting through all the applicants who may not want to publish their past rental history information. Ultimately, those who can and do provide this information in advance may be more desirable for your rental property. In some cases, you may receive a tenant request that does not list any rental history. For example, students, millennials, or Gen Z tenants may be new to the rental market, so they may not have had a chance to get a full rental history. Reviewing the rental history along with a review of the eviction history is arguably one of the most important steps in reviewing your potential tenant`s rental history. Nearly 56% of landlords say eviction history is one of their top concerns about new tenants, and conducting an eviction check can give you the peace of mind you need to proceed with your next lease or lease. A rental history report is a list of previous addresses from which a tenant rented, as well as the contact information of the owner or property manager at that time. It is likely that the credit report will list the applicant`s previous addresses, but it is a good idea to ask the applicant for a complete list of the addresses and contact information of previous owners. Some will claim that a review of the rental history will not give you a good overview of the tenant, as landlords will lie to get rid of a bad tenant. With TransUnion SmartMove, you can increase your chances of identifying a responsible tenant and getting a more complete picture of an applicant`s background.

Within minutes, you`ll receive a rental credit report, eviction report, penalty report, Income Insights report, and ResidentScore to help you make an informed decision. Inform applicants that to progress through the application process, they must provide at least three previous rental addresses, as well as contact information for their previous owner. Make sure your rental application is accompanied by a tenant information release form. With this legal document, a tenant authorizes their potential landlord to review information from past rental history. This information may include the following: Ultimately, when choosing a good tenant, it`s about deciding whether the applicant is the right choice for your rental property. With the right information, this part of the process can be quite simple. With SmartMove`s online tenant selection, you can get your potential tenant`s national eviction history, credit and criminal history reports, income information, and an exclusive rental loan score, ResidentScore, in minutes. If the above information is not enough to make your decision, you can do even more. If you`re considering renting to a tenant with no rental history, consider the benefits of being a co-signer of the lease. This could help reduce the risk. A tenancy verification form is an authorization form that a tenant applicant will sign to give the landlord permission to conduct a background check.

This also includes the ability to call the current employer, previous owner, and current owner. While thoroughly reviewing rental applications and checking the landlord`s references are essential steps in reviewing a potential tenant`s rental history, it`s important that you also review the reported information. While the above reviews are essential parts of the tenant selection process, there is another piece of the tenant selection puzzle that every landlord must consider before accepting an applicant: the applicant`s rental history. It makes no sense to send a landlord verification form to a previous landlord without first qualifying a claimant tenant. The qualification of a tenant is done via a rental request. Sometimes, after seeing the results of a rental application, the landlord is still not sure of the decision to accept or reject the application, which brings us to our next step. If an applicant fills out a rental application and conveniently forgets the phone number of their current owner, this should raise a flag. .